Conspiracies, Ponzi Schemes And The Fed-Treasury-White House Nexus
The suspicion among some observers that the current macro-policy conjuncture across the world’s largest economy
Maybe There’s A God After All: US PPI Cools After CPI Scorcher
Mercifully for a US rates complex struggling to price a wholesale rethink of the likely
ECB: Rate Cuts Are Coming
The ECB on Thursday effectively confirmed that the Governing Council’s prepared to cut rates in
Deflation Demon Returns For China After One-Month Reprieve
Surprise: Domestic demand in China’s still moribund. Or at least that’s one way to read
‘At Some Point’
“Almost all participants judged that it would be appropriate to move policy to a less
Ugly 10-Year Sale Is Insult To Injury For Reeling US Rates
On a day when another warm CPI report roiled the US rates complex, markets could’ve
Return Of The Wrecking Ball: Dollar Soars
I wouldn’t want to be Christine Lagarde or Andrew Bailey right now. For months, FX
Gut Check Arrives For Stock Rally In Brutal Rates Repricing
So, no June rate cut from the Fed. A move at the next SEP meeting
Throat Punch: Fed Plans Derailed As CPI Torches Doves Again
Bad news! Underlying inflation in the US overshot expectations for a third consecutive month in
Wanted: Viable Bear Cases
Equity bears are caught in a kind of insanity loop. Generally speaking, bear cases fall
Skew Has A Story To Tell
“I’m just waiting for an update on skew.” So said one reader last week. That
Joe Biden Has A Small Business Problem
Small businesses in the US are feeling pretty glum these days. That’s bad news. As
Comrades Counteracting
It’s been half a dozen years since Sergei Lavrov met formally, one-on-one with Xi Jinping
The Policy Catalysts For Gold’s Monumental Rally
Gold’s big move is big news. It’s also a big mystery. As discussed at some
Kolanovic And Wilson Embrace Energy Bull Case
“We are not out of the woods yet on inflation,” JPMorgan analysts led by Marko
Quietly Bad: NY Fed Survey Sends Ominous Signals
If you’re the type who tracks each and every incoming macro release out of the
McElligott Returns, Talks Tail Risks, Vol ‘Phase Shift’
Previously smooth Sharpes on short-vol trades are “getting chopped up” as traders see fatter tail
‘Priorities Have Clearly Changed’: Wall Street Has A New Top Bull
Manish Kabra’s reign as Wall Street’s biggest stock bull lasted as long as Savita Subramanian’s.
What The Hell’s Going On With Gold?
Gold was in the headlines on Monday. Still. It was still in the headlines. Atahualpa’s
Who’s Winning The 2024 Flows Race?
2024’s on track to be a banner year for money market fund inflows. But you
US Inflation Cliffhanger Headlines Big Week For Markets
It’s CPI week in the US. [Insert ominous cliché] Wednesday’s release isn’t the last inflation
ECB, China, Bernanke BoE Review Top Global Macro Agenda
An update on US inflation and the start of earnings season for corporate America will
Bits, Bytes And Bubbles
A few days ago, I explained why the AI “bubble” label may be a misleading
Earnings Season’s Here! What To Expect From Corporate America
Earnings season’s here! Who’s excited? If your hand’s raised, you need to get out more.
Behold: The Great Golden Disconnect
Gold’s an inverse real yields play. Everyone knows that. It’s axiomatic. If you’re not enamored
Trillions Sits Out Stock Rally As Money Fund AUM Balloons
When will money market funds start to drain? I’m a little weary of that question
Another Barnburner: US Labor Market Steams Ahead
Stop me if you’ve heard this intro before: The US economy added far more jobs
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