Fed In ‘Unenviable’ Position. Risks ‘Potentially Incoherent’ Messaging
This time last month, US financial conditions, as measured by various Wall Street gauges, were
Is There A Silver Lining In China’s Deflationary Doom Loop?
“Some of us sell-side macro commentators might be more predisposed to hyperbole than others.” So
Inflation Report Sends Mixed Message Ahead Of FOMC
Overall consumer prices edged higher in the US last month from October, while core price
Snapshotting The Shifting Buyer Base For US Treasurys
Beginning in early August, market participants began to obsess over the shifting buyer base for
Too Quiet?
Is it too quiet? That question came up again and again over the past two
Grin And Bear It
By now, it’s well understood that corporates took full advantage of the inflationary macro environment
Why Marko Kolanovic Expects Higher Volatility In 2024
The same factors which’ve mitigated the impact of the Fed’s hiking cycle on corporates and
Marking Time
This week started out like every other week in the world’s conflict zones and across
Is The Optimistic Scenario Already In The Price?
“We believe much of the optimistic scenario is already reflected in US equity prices today.”
The Last Week Of The Year
This may as well be the last week of the year for macro observers. The
What To Expect From The Final FOMC Meeting Of 2023
Headed into the final FOMC meeting of 2023, a few observers were anxious about Jerome
US Courts ‘Total Collapse’ In Gaza
“There does remain a gap,” Antony Blinken said this week, between Israel’s assurances to the
US Stocks See More Santa Flows Amid Sentiment Shift
US equity-focused ETFs and mutual funds enjoyed an eighth straight inflow over the latest weekly
The ‘Waller Doctrine’ And The History Of First Cuts
The past six weeks were defined by growing conviction in Fed rate cuts. Although that
Inflation Expectations Drop Most Since 2009, Sentiment Soars
If markets needed a dovish offset for a warm US jobs report, a meaningful deceleration
Warm US Jobs Report Leaves Macro Narrative Mostly Intact
The US economy added 199,000 jobs in November, Friday’s hotly-anticipated government release showed. That was
Hartnett Spots Animal Spirits As Sentiment Gauge Jumps Most Since 2012
The animal spirits are stirring. That’s according to BofA’s Michael Hartnett who, in the latest
Money Market Fund AUM Swells Further. RRP In Focus
Money market fund assets ballooned by another $61.7 billion over the latest reporting period, data
Kolanovic Sees ‘Worry Or Perhaps Even Panic’ In 2024
“We think that the decline in inflation and economic activity that we forecast for 2024
McElligott On 2024’s ‘Big Macro Mystery’
There’s a “big mystery” about 2024. It’s related to the “one question” I posed previously
Bank Of Japan Speculation Reaches Fever Pitch
There’s something amusing about employing the term “early” to describe a prospective Bank of Japan
Claims And Cuts
For the better part of two months, recurring jobless claims in the US served as
Market Fears Melt-Up More Than Selloff
Despite the ongoing rally at the long-end of the Treasury curve (which was risk asset
‘Tectonic’ CTA Shift Drove Rates Reversal, Bond Rally
Two months ago, the US long-end couldn’t sustain a bid to save its life and
Populist Wave Claims Last ‘Young Gun’ As McCarthy Quits Congress
“My work is only getting started,” Kevin McCarthy said Wednesday, in a Wall Street Journal
Italy Says Addio To Xi’s Belt And Road
G7 or Belt and Road. That was the choice for Italy. When push came to
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