Hyper-Compression
One thing we learned over the past three or so months is that broad US
Summer Minutes
This’ll be a relatively quiet week on the macro front, leaving the onus for excitement
24 Weeks Later
Again and again since the pandemic, I find myself returning to the idea that what
Long Bond, Big News
The long bond’s big news. In fact, I’d wager you’re like me in having read
Weekly: Buy Gold?
Uncle Sam’s borrowing costs were still front-page news on Friday, as the financial media spilled
Awful Consumer Sentiment Release Is Midterm Warning
It’s a miss! Another one. And it comes with a warning for the White House
Control Issues!
Uh-oh. A key measure of underlying demand surprised to the downside in Friday’s update on
Uncle Sam Pays The Piper
On August 12, I suggested next year’s biggest macro-market story may be the interplay between
Jobs On The Rocks, Claims On The Lows
Waning. That’s private-sector hiring in the US. I’m not breaking any news here. The ADP headline
Wholesale Inflation Rolls Over, Further Bolstering Fed Doves
Another day, another benign inflation readout for a Fed chair who’d very much like to
This May Be 2027’s Most Important Macro-Market Story…
Earlier this week, in “Food For Thought,” I touched on the increasingly topical interplay between
Oops: Home Sales Plunge To Two-Year Low In America
Good news! I’m being sarcastic already. Typically, if you see me use an exclamation point,
How Oracle Changed The Game
When I write about the AI buildout, I tend to reference Oracle’s September 2025 earnings
Warsh Gets Another Break As US Inflation Tame
Inflation across the world’s largest economy was relatively tame last month, consistent with economists’ forecasts,
Food For Thought
Thematically, a lot of my pre-CPI coverage this week revolved around the impact of the
If It Weren’t For The War…
Activity in America’s perennially beset resale housing market was “remarkably stable” last month, the NAR
Intel Cashes In
You gotta make hay while the sun shines, as the old adage goes. Intel did
Bankrolling The Dream
Nvidia was back in the news early this week. (I know, I know: “When was
Behold: A ‘Legendary’ Right-Tail Grab
We’ve just witnessed a “legendary” upside grab in US equities. That’s according to everyone’s favorite
Profits Are ‘So Strong The Market Doesn’t Believe Them’
“I don’t know who you’re talkin’ to, but business is boomin’.” — Jackie Moon Brass
Is The Equity ‘Oversupply’ Story Fake Bear News?
Equity issuance notched a record in Q2 across IPOs, secondaries, converts and a smattering of
Let’s Just Get The Hell Out Of The Mideast
On Sunday, Abbas Araghchi denied the Trump administration’s claims that another deal to reopen the
Inflation Tallies Seen Emboldening Fed Doves
In the days ahead, Kevin Warsh will likely get more excuses to hold off on
Return Of The ‘Everything Rally’
It all worked this week, didn’t it? My goodness. When the dust settled after the
Weekly: A Dove’s Dream
The July jobs report was a policy dove’s dream come true. No, it’s not very
Yen Very Thankful For US Jobs Debacle
Kevin Warsh wasn’t the only person relieved by Friday’s lackluster BLS jobs report. Japanese finance
The US Jobs Market Just Cracked
And just like that, the odds of a Fed hike in September diminished meaningfully. The
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