Good Game!
In the latest weekly+ I touched briefly on earnings season in the US, where results
US Equity Funds Close To Erasing $70 Billion Outflow
US equity-focused ETFs and mutual funds have pulled close to erasing a 2023 outflow which
Bear Risks To The ‘Nominal Bull’
Those of you old enough (or, as a reader once joked, while putting her own
Fed’s Favorite Wage, Inflation Measures Both Cool
The Fed’s preferred measures of compensation costs and inflation came in softer than economists expected,
German Economy In ‘Twilight Zone’ Overshadows Better News In France
The world’s fourth-largest economy was stuck in limbo during Q2, data released on Friday suggested.
BoJ Goes For Nuance With ‘Flexible’ YCC
The BoJ, under new governor Kazuo Ueda, went for nuance on Friday, but I’m afraid
Money Fund Assets Soar To Record. Fed Backstop Borrowing Surges
Money market fund assets hit a new record near $5.5 trillion in the week to
One Bank Flags ‘The Cheapest S&P Puts You’ve Ever Seen’
How complacent are US equities? The most complacent ever, or at least according to one
Bond Selloff, Dollar Spike Spoil The Goldilocks Party
Bonds spoiled what should’ve been a rousing rally on Wall Street Thursday. Markets were handed
‘Goldilocks!’ Shouted The World’s Largest Economy
The US economy expanded at a much brisker pace than expected in the second quarter,
In Shift, ECB Drops Precommitment To Additional Rate Hikes
The ECB raised rates as expected on Thursday. July marks the one-year anniversary of Christine
Markets, Wall Street: Fed Is Probably Done
It’s up to the data to “speak” now, and speak it would on Thursday and
Goldilocks Euphoria Masks Lingering Tail Risks
With the “soft landing” / “Goldilocks” macro theme gathering adherents in the US seemingly every
Powell Leaves Markets With More Questions Than Answers
Policymakers are taking a meeting by meeting approach to assessing the need for additional rate
Meta Beats, Guides Ahead Of The Street, Raises Expense Outlook
The company formerly known as Facebook delivered quarterly results that beat estimates on Wednesday. Meta
Fed Hikes Rates To 22-Year High
As expected, the Fed raised rates to a 22-year high on Wednesday. Barring a material
Is It Game Over For The ‘Liquidity Drain’ Bear Case?
Is there still anything to be said for the “liquidity drain” bear case — other
McElligott Sees ‘Spooky,’ ‘Dangerous’ Contrast
One thing sticks out as “spooky and dangerous” when set against months of simultaneous re-risking
Fed’s ‘Murder’ Motive Less Clear, ‘Uncomfortably Long’ Goldman Says
The risk was, and in the minds of many still is, that the Fed will
New US Home Sales Slip. Prices Off Highs, But Still Onerous
New US home sales fell for the first time since February, mixed data released on
Make Vol Great Again
I’d say markets were “nervously” eying the Fed on Wednesday, but I’m not sure that’d
Microsoft, Alphabet Still Going Concerns
Microsoft and Alphabet officially kicked off mega-cap earnings in the US on Tuesday afternoon. To
IMF Update Spotlights Germany’s ‘Slowcession,’ Saudis’ Royal Dilemma
I’ve said this before and I’ll say it again: IMF growth updates are a paradox
Meanwhile, In Taiwan…
Regular readers will forgive me for recycling a bit of my own copy. There are
America’s Housing Bubble Is Reinflating. Fast.
Updates on both key national price gauges showed US home values continued to rise as
Animal Spirits Awaken As US Consumer Confidence Soars
After a sharp increase last month, a key gauge of US consumer confidence rose further
Xi’s China Is Farce
Nobody ever learns. A gauge of Hong Kong-traded Chinese shares surged the most in eight
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