Europe Gets Good Inflation News. With The Usual Caveats
There was good news on the inflation front in Europe Friday. Headline price growth probably
Money Market Fund Assets Rise Back Near Record
Money market funds recouped minuscule mid-month redemptions with a $6.31 billion inflow in the week
September’s Twin Stock, Bond Selloff Is Bitter Pill For Fed-Weary Markets
All eyes were once again on the rates complex Thursday, as traders and investors of
UK Bonds Suffer Dramatic Selloff
UK bonds suffered what it’s fair to call an egregious rout on Thursday. The repricing
Pending Home Sales Plunge As Rates Soar In ‘Frozen’ Market
Pending home sales tumbled in August, a bad omen for already depressed existing home sales.
US Spending Revised Sharply Lower, Tempering Hawkish Jobless Claims
For the second week in a row, US jobless claims printed at rock-bottom levels, underscoring
Oil In Focus As ‘Dry’ Cushing Prompts Hand-Wringing
There was talk of a “toxic cocktail” on Thursday amid elevated bond yields and a
What’s Behind The Suddenly Positive Term Premium?
The term premium is positive again. Maybe you heard. Actually, you probably didn’t hear. This
Why Marko Kolanovic Sees A ‘Rate Shock’ Reckoning
JPMorgan’s Marko Kolanovic doesn’t agree with the notion that the majority of the drag from
Marko Kolanovic Conjures 2008 Crash With Striking Reprint
The market is likely to be “more volatile” in the near-term, and the risk-reward in
Another Word On America’s Unprecedented Deposit Drop
I’m supposed to say something meaningful about an unprecedented decline in US bank deposits. The
As Mortgage Rates Soar, Georgia Caboose Is Bargain At $42,000
I’m not sure it’s worth mentioning at this point, but mortgage rates are still rising.
How Sustainable Is The Stock Selloff? McElligott Answers
How sustainable is the nascent correction in US equities? At the fundamental level, a lot
China Has Evergrande, And Its Billionaire Founder, Under Control
Everything at China Evergrande is under control. Including billionaire chairman Hui Ka Yan. Hui, media reports
The Stocks Are Broken
If you’re a Fed official and your “higher for longer” message is already resonating, it’s
Is Another Treasury Basis Blowup Coming?
If it’s possible to write a scary-sounding or otherwise foreboding basis trade story, somebody will
Meanwhile, In Taiwan
Every month, I provide a brief update on what I consider to be two reasonably
New Home Sales Drop With Prices Loitering Near Half A Million
The pace of new home sales in the US fell to a five-month low last
Consumer Confidence Tumbles Again On Plunging Expectations
US consumer confidence slipped in September, according to this month’s update on the Conference Board
US Home Prices Notch New Record, Threatening Inflation Fight
US home prices rose for six consecutive months midway through summer, data released on Tuesday
Dimon, Debt And Impossible Math
Jamie Dimon was in the news on Tuesday for the not-exactly-groundbreaking observation that Fed funds
Kolanovic, JPMorgan Warn Against Dismissing Yield Curve Canary
I’ve been irreverent at times about the yield curve as a recession predictor. I instinctually
American Consumer Seen Stretched With Two-Thirds Of COVID Savings Gone
If you’re forecasting a material deceleration in US economic activity during Q4, you should stop.
Bond Bears Revel In Worsening Long-End Selloff
This week’s earliest price action underscored the peril inherent in leaning long duration into a
‘Stocks Have Taken On A Different Personality,’ Mike Wilson Says
“Stocks have taken on a different personality” since the end of Q2 earnings season, Morgan
The Flows Behind Last Week’s Stock Selloff
Surprise! Last week’s selloff in US equities, the worst since March, was in no small
China Meltdown Worries Resurface With Evergrande Restructuring In Doubt
China’s property developers were back in the spotlight Monday, where that means they were shot
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