One Bear, Two Words
“Ambiguity.” It’s pervasive. So said Morgan Stanley’s Mike Wilson on Monday, describing the macro-market backdrop.
Is The BoJ About To Spoil Japan’s Record-Setting Stock Rally?
Japanese equities have had a good run. And that’s an understatement. An entire generation of
It’s Not The Economy, Stupid. Not This Time
“As you can see, I’m African American.” So said a kindly gentlemen sitting next to
All Eyes Turn To US Inflation Report With Rate Cuts On The Line
Come one, come all! “Super users” and novices alike! It’s CPI week in the US.
‘Magnificent 7’ Performance Has Never Been This Uneven
Market commentary often treats the so-called “Magnificent 7” as a monolith. This year, it’s anything
Riding The Bubble
By the end of jobs week in the US, market participants were still asking the
Windfalls And Pitfalls
There’s no respite for bears. Headed into the US jobs report, there were any number
Global Equity Inflows Strongest In Two Years Amid Rally
Equity-focused ETFs and mutual funds saw a seventh week of inflows amid what some describe
US Jobs Report Offers Something For Everyone
The US economy added more jobs than expected in February, while revisions trimmed the prior
Jay’s Quotable
Jerome Powell’s timeline for Fed confidence in the durability of the disinflation trajectory, and thereby
Money Fund Assets Scale New Record. RRP Usage Falls Further
Money market funds raked in another $18.65 billion in the week to March 6, an
Bears Driven To Brink Of Extinction As Powell Promises Rate Cuts
“When we do get that confidence — and we’re not far from it — it’ll
CRE Slow Burn
America’s slow-burning commercial real estate crisis continues to produce a slow drip of headlines. Steve
ECB On Hold, Says Inflation, Growth To Slow Further
“Financing conditions are restrictive and the past interest rate increases continue to weigh on demand,
Dovish Data Turn Will Live Or Die By Payrolls
Anyone hoping for a dovish round of data out of the US was pleased Thursday,
‘Various Tricks,’ ‘Unimaginable Conflicts’
Markets heard from Wang Yi on Thursday. Wang can be a little — how should
A Word On America’s New Debt Milestone
The Fed keeps insisting, in some cases against the evidence, that rate hikes are working
No Surprises
Surprise: There were no surprises to speak of from Jerome Powell’s congressional testimony on Wednesday.
A Third World Country
“They didn’t used to fight at night. Now they do. Because they have goggles.” That’s
The JOLTS Miracle Feels Exhausted
Job openings were little changed from the prior month on the last business day of
Pay Growth For Job Switchers Accelerates In Otherwise Bland ADP Release
Private sector US employers added 140,000 jobs in February, ADP said Wednesday. The headline was
Rally Trivia And Pivot Remorse
Here’s a notable statistic: If US equities post gains during the final two months of
The Meme Stocks Are All Skewed Up
The rally on Wall Street, which looked poised for a breather on Tuesday, may or
An Obligatory Nod To Bitcoin’s New Record High
Bitcoin hit a new record high on Tuesday. Maybe you noticed. I’m supposed to have
Conflicting Signals
The incoming macro data’s not going to tell us a consistent story. Maybe we should
Is Xi Jinping An Imbecile?
There were precious few surprises on offer in Li Qiang’s first annual work report, delivered
Behind The ‘Bubble,’ Surging Cost Of Capital Forces Investor Rethink
Rally skeptics and those with an affinity for crash prophecies spent the last couple of
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