With two reports on the books for second quarter earnings, Wall Street was 0 for
Category: Markets
JPMorgan Comes Up Short As ‘Hurricane’ Looms
Meteorological phenomena got short shrift in JPMorgan’s second quarter earnings materials, but Jamie Dimon did
‘Everything’ Means Everything
At this point, it’s scarcely worth mentioning how far we’ve come on the monetary policy
The Worst Inflation Report In Modern US History
US consumer prices rose 9.1% from a year ago, blazing-hot data released on Wednesday showed.
Canada Ups Inflation Fight Ante With Massive 100bps Rate Hike
After triumphing in a recent battle with COVID, Bank of Canada governor Tiff Macklem will
How Long And How Far Will This Go?
The global tightening impulse accelerated on Wednesday, as New Zealand and South Korea stepped up
Bassman: ‘There Is Significant Potential For Disruption’
While I suspect there were few kind words for him in the 1980s, today Volcker
Germany Prepares For ‘Worst’ As Investor Outlook ‘Collapses’
“Economic expectations collapse,” read the headline atop the July vintage of Germany’s ZEW survey. It’s
Penrose Stairs
I talk quite a bit about self-referential market dynamics in these pages. Some of those
Nobody Accepts The Reality Of Investing In China
It may never be truly safe to invest in Chinese equities again. I realize that
Inflation Heat Check And The Three-Digit Hike Tail Risk
Like shoppers waiting anxiously for a monitor in the checkout line to tally the damage
Searching For Bulls In A Desolate Wasteland
Do nosebleed levels on the most widely-cited measure of bond volatility presage a counter-trend rally
Predictions About The Future
With earnings season just days away in the US, it’s not necessarily this quarter’s results
Mr. Musk Terminates The Merger
Elon Musk doesn’t want Twitter anymore. Maybe he never did. We’ll never know. Frankly, I’d
Math Problems
“It ain’t over ’til the Fed lady sings,” BofA’s Michael Hartnett wrote, employing a somewhat
Hot Jobs Report Leaves Fed Locked In On 75
The US economy added far more jobs than expected in June, the government’s hotly-anticipated monthly
Mortgage Rates Fall Most Since 2008, But Affordability Worst Since 80s
Good news: Mortgage rates fell dramatically last week. Amid a steep decline in US yields,
Mea Culpa Minutes
Minutes of the Fed’s June policy meeting, released on Wednesday, skewed hawkish. That’s not terribly
Beware Acute Downgrade Risk As Profit Reckoning Looms
Hopeless. That’s how I’d characterize forward earnings estimates headed into Q2 reporting season in the
Pink Elephants And Collapsing Commodities
Summer days tend to run together, but there’s enough in the way of idiosyncratic news
‘Grizzly Bear’ Has One Question: ‘Is It Done Going Down?’
“The question is whether it’s done going down,” Morgan Stanley’s Mike Wilson, who Bloomberg hyperbolically
This Bear Market Still Has Teeth
“Despite recession fears, S&P 500 consensus 2022 and 2023 EPS estimates have both been revised
The Most ‘Obvious’ Recession In History
“Obviously unsustainable.” That’s how one market participants described the dynamic whereby purported savings “buffers” and
Cash And Commodities Reign As ‘Everything Bubble’ Implodes
Cash is trash. Just ask Ray Dalio, he’ll tell you. That’s one of his favorite
The Worst Year For Stocks Since 1872?
Last year, when it became apparent to everyone that inflation might be on course to
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