Life In General
If there’s anything that frustrates me about opining on macro, markets and policy on a
A Bear Gets Lost In The Woods
Mike Wilson said Tuesday that corporate America’s haves and have-nots divide is getting worse. He
Chinese Banks’ ‘Record’ Rate Cut Is Meaningless
It’s hard to know whether, and to what extent, everyday market participants benefit from staying
Dear Butcher
Wu Qing didn’t have much time to celebrate last week. Spring Festival or not, “The
Houthi Hijinks
The Houthis had a busy day. Crazy rascals. The situation in Yemen’s the furthest thing
How Serious Is Yulia Navalnaya?
The Russian opposition has a new face. And Vladimir Putin a new nemesis. Ostensibly, anyway.
Beijing’s Holiday Macro Spin Falls Flat
It’s almost as if investors have determined that China’s a giant Potemkin village — that
Data Void Leaves Markets To Nvidia, FOMC Minutes, Geopolitics
Going strictly by the data calendar, it’ll be a quiet week for the world’s largest
‘Sudden Death Syndrome’
On Saturday morning, Lyudmila Navalnaya arrived in the tiny, frigid settlement of Kharp for the
Tech Funds On Track For Record Inflows Amid AI Frenzy
For what it’s worth, US equity-focused ETFs and mutual funds recouped a meaningful portion of
‘No Future, No Hope, Nothing’: Aleksei Navalny Dead At 47
Aleksei Navalny’s gone. He keeled over and died Friday after taking a stroll around Polar
Bubble Vision
Admittedly, I’m exhausted with bubble talk. “Are we witnessing a dot-com redux?” “Is the ‘Magnificent
Two-Month Euphoria Ebbs In Inconclusive Consumer Sentiment Update
Consumer sentiment in the US edged higher in early February, the last of this week’s
US Stagflation Fears Return As PPI Overshoot Confirms Rekindled Price Pressures
Anyone looking to the BLS’s update on wholesale prices for relief following an uncomfortably warm
Stocks Could Rise 30% If Equity Allocations Return To 1999 Levels: JPMorgan
How far might stocks rally if investor equity allocations rose to levels consistent with those
Money Fund AUM Slips, RRP Drops Below $500 Billion
US money market funds shed assets over the latest weekly reporting period. Before anyone’s eyebrows
Where’s The Damn Selloff?
The first two months of 2024 had all the ingredients of an equity selloff with
Housing Market Crosscurrents Confound Buyers As Builder Sentiment Recoups Losses
It’s amazing what expectations for lower interest rates can do to bolster sentiment across an
Did The American Consumer Just Fold?
Bad news. Or good news, depending on how you want to look at it. Retail
Everybody’s In A Recession Except The Good Ol’ USA
If it feels to you like every important economy besides the US (and India) is
In Regrettable Milestone, Investors Buy One Out Of Every Four Affordable US Homes
25 years ago, the share of low-priced homes bought by investors in any given quarter
Could Irrational Exuberance Redux Drive The S&P To 6,250?
Are we witnessing a dot-com-style, tech-driven equity bubble in the US? That’s the market’s perpetual
Pavlov Kills The VIX Spike
“You simply have to short vol spikes in unemotional, mechanical fashion.” That’s the muscle memory,
The Caesar Kunikov Gets An Upgrade
Vladimir Putin lost another ship. Ukraine’s efforts to expel the czar’s invading army might be
Markets Dodge Bullet With UK Inflation Report
Earlier this week, “stronger-than-expected wage growth bolster[ed] BoE caution.” That’s an actual headline from a
More US And Tech Exceptionalism
If you favor US equities over the rest of the world, nobody’s going to blame
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