Under-capture. That’s the name of the game for (too) many investors in 2024. The ultra-concentrated
Category: Markets
August BoE Cut Highly Likely After ‘Finely Balanced’ Hold
There were “a range of views” among the seven Bank of England officials who voted
Buy Gold To Hedge Republican Election Sweep, One Bank Says
Naturally, the GOP would have you believe that if Joe Biden’s reelected, or if Democrats
Jensen’s Juggernaut
Two sessions, two new all-time highs. In the first two frames of a split week,
$640 Billion Is Most Bullish Since Peak ‘Everything Bubble’
Fund managers are the most bullish since the height of the so-called “everything bubble.” That’s
Soft Landing Strip Now Very Narrow, Kolanovic Says
The landing strip’s narrow for Jerome Powell. That was one (familiar) message from JPMorgan analysts
De-Dollarization Delayed
The funny thing about the de-dollarization story is that it’s unequivocally false. I tried to
Rainbow Sprinkles
Morgan Stanley’s Mike Wilson sees a worrying sign. I suppose this goes without saying by
Goldman Unveils Five New Scenarios For US Equities
In a best-case scenario, US equities could rise another 16% through year-end. That’s according to
Summer Vol Bleed?
It’s probably fair to say US soft landing odds increased materially over the past several
Fed ‘Way Behind The Easing Curve,’ Albert Edwards Says
It’s time for the Fed to cut rates. Past time, even. So said SocGen’s Albert
Fed Tips One 2024 Cut, Four 2025 Cuts, Higher Neutral Rate
The Fed kept rates on hold for a seventh meeting Wednesday and tipped just one
Kolanovic Sees ‘Plethora’ Of Risks For Buoyant Stocks
If you were wondering, JPMorgan’s cross-asset strategy team is still cautious on equities. That probably
Market’s Mexico Concerns Mount As Sheinbaum Pushes Judicial Reform
A week on from Morena’s landslide victory in Mexico’s largest-ever election, Claudia Sheinbaum’s still shaking
The Stocks Will Be Fine, Americans Reckon
The stocks will be fine. If the whole world burns — I don’t know why
When Everyone Says It’s Not A Bubble…
“You know it’s a bubble when everyone starts telling you it’s not a bubble.” That’s
Sorry, Cam Harvey
Way back two weeks ago, I took a few minutes to editorialize around what I
Good, Bad And Everything In-Between
It was the same story on Thursday, when US equities meandered ahead of payrolls: Bad
Siren Songs Of Summer
“S&P 500 heads for record close as Nvidia soars, investors look for rate cuts,” read
Dead Canary
I don’t want to overstate the significance of any one data point or US macro
Kolanovic: This Time’s Probably Not Different
JPMorgan’s Marko Kolanovic is… I don’t know, still bearish. Or still cautious. Not especially constructive.
Is An Equities Vol Regime Shift In The Offing?
Don’t look now, but there’s a regime shift afoot in the equities index vol space.
Wall Street Ignores The Only US Election Risks That Matter
On May 28, Goldman published a note called “The US Election — Debating the Asset
I Was Told There Would Be Rate Cuts
We’ve come a long way since late November. Six whole months, in fact. Half a
Fed Suggests More Talking To Solve Communication Problem
I regularly lament the Fed’s penchant for over-communication. Every week, market participants are compelled to
Did Yellen and Powell Forget Piketty?
When it comes to the notion that Janet Yellen and Jerome Powell engaged in a
Inconclusive
I doubt anyone came away from this week wiser. By Friday afternoon in the US,
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