Hedge Fund ‘Crowding’ Hits Record Amid Mega-Cap Rally
Earlier this week, in one of the dailies, I included a chart depicting record hedge
Bears, Bulls And The 1950s Parallel
The profit recession for corporate America ended in Q3. EPS growth was around 4% last
The Term Premium Is Negative Again
It’s official. Or as official as it can be considering we’re talking about something that’s
Hostages, Prisoners And Poets
“He was interrogated and he was actually beaten.” That’s a quote from a family friend
Jobless Claims Continue To Vex Recession Calls
Jobless claims in the US steadfastly refuse to cooperate with, let alone corroborate, recession narratives.
Popular Strategist Reveals Top 10 Trades For 2024
On Tuesday, BofA’s Savita Subramanian made the case for S&P 5,000 in 2024. Suffice to say
Nvidia Says A.I. Revolution Proceeding Apace
I’d say “not surprisingly,” but I guess that doesn’t quite work given that beats versus
Fed Minutes Repeat Familiar Talking Points
“There has been surprisingly little reaction thus far.” So said one observer following the release
Investors Say No Thanks To TIPS
The Treasury auction drama continued on Tuesday with a tailing 10-year TIPS sale. I should
Higher Rates ‘Single Best Development’ In 20 Years: Vanguard
“Higher interest rates are here to stay.” So declared Vanguard, staid bastion of relative sanity
The Homes Are As Scarce As They Are Expensive
Surprise! Existing US home sales fell again in October, data released on Tuesday showed. The
BofA’s Subramanian Sees S&P 5,000 In 2024
5,000. And a new record high. That’s what BofA’s Savita Subramanian sees for the S&P
Here’s How Fed Balance Sheet Runoff Ends
Last week, I noted that ongoing drain from the Fed’s RRP facility telegraphed the end
The S&P, The Economy And Joe Biden’s 2024 Odds
It’ll be all about sequencing for the S&P next year. That was one message from
Maybe They Want The Bonds After All
Headed into this week, there was some consternation that Monday’s 20-year sale would evidence the
Can Argentina Really Dollarize?
In the wake of Javier Milei’s landmark election in Argentina, focus has turned to his
Milei Or Melee?
Let’s be upfront about one thing: Brash politicians peddling quick fixes to intractable domestic problems,
Dollars And Doom
This is a good time for a reminder: The world’s a much friendlier place when
Biden Risks Moral Culpability For Gaza’s Child ‘Graveyard’
Joe Biden, in a weekend op-ed for The Washington Post, laid out The White House’s
Give Thanks
It’s a short trading week in the US, where Americans will gather with family members
The New Bull Case: Soft Landing Plus Insurance Cuts
In the latest edition of the Weekly, I suggested the unofficial consensus is still that
$26 Billion Pours Into US Stock Funds Amid Sentiment Shift
They were buying stocks over the last week. Equity sentiment inflected for the better this
Nobody Wants The Bonds!
Nobody wants the bonds! That’s sarcasm. It’s fair to say the oversupply panic that typified
The ‘Most Unexpected’ Macro Outcome Of 2024
In the latest installment of his popular weekly “Flow Show” series, BofA’s Michael Hartnett leveraged
New Construction Defies Dour Builder Sentiment In Distorted US Housing Market
New construction bucked the dour trend in homebuilder sentiment to post a surprise monthly gain
Money Fund AUM Hits Another Record. RRP Drain Starts Clock On QT End
Money market fund assets scaled yet another new peak in the week to November 15,
Wall Street’s Most Famous Bear Explains How Stocks Avoided The Worst
Contracting liquidity was supposed to pressure US equities during the dog days of summer and
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