The Bond Conundrum
Bonds have very nearly pulled even for 2024. Maybe you noticed. 10-year US yields were
How To Lose $400 Billion In Three Days
Nvidia melted into America’s ridiculous heat wave on Monday, when the shares suffered a third
Kolanovic, JPMorgan See ‘Ominous Signs’
“Ominous signs.” Marko Kolanovic sees them. It’s been a long 18 months for bears. I’d
‘Three Potential Candidates’ To Break The Bullish Tape
The stock market’s not the economy. And the economy’s not the stock market. Morgan Stanley’s
The Skinniest US Equity Market Since At Least 1965
If it feels to you like US equity market breadth’s a perennial concern, you’re not
Where’d The Shorts Go?
Late last week, I spent a few minutes editorializing around record-low short interest on the
US Inflation Update In Focus As Stocks Gun For More Records
It’ll be a fairly busy week on the US macro front. An update on the
Netanyahu Wants His ‘Tools’ Now, Thank You
Israeli defense chief Yoav Gallant is in Washington this week to beg for weapons. If
Sweep Risk
Generally speaking, Americans don’t understand the extent to which democracy’s imperiled. When people hear “democracy
A ‘Nightmare Scenario’
If you’re into nightmare scenarios, I’ve got one for you. I’ll keep it short, commensurate
#AIcapitulation (God Risk Revisited)
“All roads lead to Nvidia.” That’s the trade. Or at least that’s how the market’s
Smash Burgers
Existing home sales held up better than expected last month in the US, but nevertheless
US Economy Stuns Again While Europe Falters
US economic activity picked up further in early June, preliminary PMIs released on Friday showed.
Money Market Funds See First Outflows Since Tax Week
US money market funds saw their first outflows since tax week, an update released after
Capture The Mag
Under-capture. That’s the name of the game for (too) many investors in 2024. The ultra-concentrated
JPM Sees ‘Implicit Short Vol Trade’ In Record-Low ETF Short Interest
Short interest on the two predominate ETFs tracking the most important US equity indices has
In US Housing, A Builders’ Strike?
You can argue with home builders all day about whether they’re correct to insist that
Continuing Claims May Prod Powell Into Rate Cuts
US jobless claims slipped in the week to June 15, Thursday’s update showed. Initial filers
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
Roast Peasant
I suppose this goes without saying, but if you find yourself in Pyongyang begging for
Rate Cuts To Cool Inflation? Home Builders Say Yes
US home builder sentiment deteriorated to the worst levels of 2024 in June, according to
Rishi Gets 2%
Say congratulations to the UK: Inflation’s back to 2%. Headline CPI matched the Bank of
Jensen’s Juggernaut
Two sessions, two new all-time highs. In the first two frames of a split week,
Solving The Mystery Of America’s Dueling Jobs Surveys
There are any number of burning questions one could pose vis-à-vis the US labor market,
Goldman’s Hatzius Sees Tipping Point For US Labor Market
Everyone was wrong except Goldman. Goldman and Chris Waller. That’s not exactly how Jan Hatzius
US Shoppers Balk At High Prices
Retail sales in the US rose less than expected last month, this week’s only top-tier
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