We’re All CTAs Now
Over the years, and across countless articles, I’ve described the extent to which all market
Fed Speakers In Focus As Rate Cut Expectations Build
It’s another holiday-shortened week in the US. Traders coming off the three-day weekend (the third
One More Time: Chaos Is Normal. Calm Is The Outlier
Over and over again, day after day, market observers of all kinds (myself included, although
Taiwan Rebukes China, Elects ‘Troublemaker’ Lai
Somewhere, Xi Jinping donned his famous smirk. Taiwan chose Lai Ching-te for president on Saturday,
Rowdy Rebels
“It’s not possible for us not to respond to these operations.” That accidentally (and tragically)
Xi Stares At Deflation
The Chinese economy is in trouble. You already know that, so I won’t dwell too
Big Bank Earnings More Opaque Than Usual. Which Is Saying Something
Sifting through big bank results is a largely thankless task but, unfortunately, it’s obligatory. JPMorgan’s
Dimon Warns On Risky World As NII Beat Offsets Otherwise Mixed Quarter
JPMorgan kicked off earnings season in the US with what looked like a mixed set
US Producer Prices Slow Again, But Red Sea Drama Poses Inflation Risk
If you were up all night worrying about the overshoot on headline CPI reported by
Houthis Get Their Wish: US, UK Pound Yemen With Airstrikes
For weeks, the Houthi leadership in Yemen insisted the group was prepared for a head-to-head
MMF AUM Edges Closer To $6 Trillion. RRP Still Falling. BTFP Hits $147 Billion
Money market fund inflows slowed after a massive haul around the calendar flip, but total
Soft Landing Bandwagon Welcomes A Big Name As Market Ponders CPI
Call off the soft landing. Larry Summers has joined the bandwagon. Normally that’d be funny.
Albert Edwards Revisits Greedflation, Sees Something ‘Sad’ At Fed
Investors are “divorced from cyclical reality.” That’s according to SocGen’s Albert Edwards, who, if past
US Inflation Report Warm, But Too Ambiguous To Alter Narratives
Inflation in the US was quicker than expected in December, data released on Thursday showed.
Iran Escalates As Masked Hijackers Seize Oil Tanker
The tanker formerly known as the Suez Rajan was carrying a cargo of Iraqi crude
Spend It If You Have It!
Broken record time but, hey, what can you do, right? The knock-on effects from 2023’s
Why The Path To New S&P Records Goes Through Janet Yellen
There were some questions earlier this week about what I dubbed a “crash-up blueprint 2.0.”
‘Don’t Take Disinflation For Granted’: Two Charts And A Lot Of Words
Admittedly, the “risk of inflation re-acceleration” talking point is a bit tired by now. Over
Potential Market And Macro Surprises For 2024
This week, in honor of the late Byron Wien, BofA released a list of 10
War Drums Beat, War Headlines Bleat
“Wars are becoming existential, like it or not,” one opinion-section headline published on Wednesday declared.
‘WEN CRASH?’
“WEN CRASH?” one popular strategist asked on Tuesday, employing a crypto meme for comedic effect.
‘Boom, You’re Cooking With Grease’: A New Crash-Up Blueprint?
I’ve mentioned Lorie Logan three times in three days. Four times in four days if
It Was The Liquidity! It Always Is
It’s the liquidity! It always is. Last year was remarkable for a number of reasons,
Is This ‘The Calm Before The Profit Storm?’
“Forecasting is challenging,” SocGen’s Andrew Lapthorne wrote, in his latest. “Some would say impossible.” He’s
Blinken Pitches Israel ‘Real Opportunities’ Amid Gaza Devastation
Israel has “real opportunities” to build better relations with Arab countries, Antony Blinken imagined, out
Americans’ Credit Card Spending Soars, Inflation Expectations Plunge
A pair of third-tier US macro updates released on Monday were worth a quick mention
Kolanovic Still Cautious Amid ‘Overbought’ Markets, ‘Complacent’ Sentiment
The raucous rally in stocks and bonds to end 2023 left markets “overbought and sentiment
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