Inflation Throat Punch
Wall Street wasn’t enamored with the BLS’s inflation update, delivered to loud jeers in the
Gosh, Sorry About Your Rate Cuts!
One reader with a Wikipedia page was upset with me on Tuesday when I characterized
‘Magnificent 7’ Crowding Conjures Memory Of Epic Dollar Crash
It’s all about the “Magnificent 7” and market concentration. Bubble talk abounds and the prospect
Fed Hit With Horrendous Inflation Report In Body Blow To Soft Landing
Bad news! Consumer prices in the US rose at a brisker-than-expected rate in January, decidedly
Behold: Fund Managers Now Most Bullish In Two Years
Fund managers are the most bullish in two years. That was one, among many, takeaways
Mission Accomplished?
The New York Fed’s monthly consumer survey doesn’t typically make headlines, but the latest installment,
Easy Money: A Quick Earnings Season Recap And A Word On Dividends
Guess what? Earnings season in the US went fine. Surprised? No? Me neither. I don’t
Famous Bear Likes The Large-Caps
Large-cap US equities have achieved their independence from bond yields. Not entirely, of course. Risk-free
‘The Greatest Real Estate Crisis’ Since Lehman: How Bad Is Germany’s CRE Problem?
The German economy doesn’t need any more problems. The engine of European growth is stuck
Economists Cry Foul: Growing Chorus Says Fed Policy Too Tight
The Fed’s overstaying its welcome at terminal. That’s the message from a growing number of
With Allies Like These
I tend to ignore most of what Donald Trump says for what I assume are
Israel Readies Rafah Invasion Amid Debt Downgrade, ‘Too Far’ Criticism
“Victory is within reach,” Benjamin Netanyahu told ABC’s Jonathan Karl in a weekend interview. “We’re
Inflation Report To Test Epic US Equity Surge
Traders and investors will have plenty of macro inputs to ponder in the new week,
Flows, Sentiment And Too Much Information
We’re far enough into 2024 to start talking about YTD “trends” in equity fund flows.
Fed-Defying Stock Rally Turns Most Of Wall Street To Bears
Generic market wraps published on Friday described an unremitting equity melt-up deaf to the shrill
Nothing To See Here
There was no shortage of hype around Friday’s annual CPI revisions from the BLS. For
Reversing Greed
Last year, bearish positioning was “markets’ best friend.” In 2024, by contrast, positioning is poised
Money Market Fund AUM Rises Further Beyond $6 Trillion Milestone
Money market funds notched another inflow, pushing total assets to a new record high above
Generally Speaking
Ukraine’s army is under new management as of… well, as of now. I suppose that’s
Bolsonaro Officials Planned Outright Military Takeover In Brazil, Police Allege
Donald Trump’s not the only former president under investigation for plotting to overthrow the democracy
Albert Edwards Calmly Makes The Case For Tech Caution
Albert Edwards is worried about tech. Still. Albert Edwards is still worried about tech. I
Xi’s Macro Problems Pile Up As Deflation Deepens
There was more bad macro news out of China on Thursday. The drumbeat of despondency
US Jobless Claims Uptick Looks Like Another False Alarm
US jobless claim were a nonevent Thursday. I mention them only in the context of
Is The Treasury Oversupply Panic Over?
While editorializing around what counted as the largest two-session selloff for benchmark US Treasurys since
Abu Bakr Al-Saadi, Signing Off!
Abu Bakr Al-Saadi’s done. On Wednesday evening, the Kataib Hezbollah underboss was tooling around Baghdad
Fed Preaches Caution. Stocks No Longer Care
It’s fairly obvious by now that equities are unbothered and otherwise nonplussed by the notion
How Worried Should Markets Be About A CRE Spiral?
Last week, following the first of what would ultimately be several very bad days for
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