Erdogan Settles On Ex-First Republic Exec For Central Bank Job
Recep Tayyip Erdogan has a new central bank chief. If nothing else, Hafize Gaye Erkan
Twice Impeached. Twice Indicted
Twice impeached and now twice indicted. Donald Trump was charged by the Justice Department on
Money Fund Assets Near $5.5 Trillion. Usage Of Fed’s Bank Backstop Hits $100 Billion
Already inundated money market funds took in another $37 billion in the week to June
Don’t Forget This Week
If you take anything away from this week’s market developments, let it be this: Central
Market’s Favorite Bear Case Considered Valid Until Proven Otherwise
I doubt most readers need another point/counterpoint exercise around what Deutsche Bank described this week
US Homeowners See First Home Equity Losses Since 2012
The home equity losses are here. US homeowners with mortgages (around two-thirds) suffered more than
US Jobless Claims Leap In Boon To Doom
Macro watchers and market participants of all shapes and sizes are on US recession watch.
Europe Had A Boring Winter Recession
It’s pretty difficult to sensationalize a 0.1% contraction. Even when you have two of them
Three Good News Inflation Stories
On a day when a surprise rate hike from the Bank of Canada (amplified by
Surprise Rate Hikes Force Yet Another Market Rethink
Markets are on notice: Rate hikes can recommence after a pause. I’m not sure why
Why One Bank Isn’t Buying The ‘Liquidity Scare’ Bear Case
The relative importance of liquidity versus fundamentals as determinants of risk assets is everywhere and
Turkey’s Lira Confronts Lose-Lose Reality In New Erdogan Term
It’s back to lamenting the lira. When it became clear last month that Recep Tayyip
Canada Restarts Rate Hikes, Warns Inflation ‘Could Get Stuck’ Higher
It’s becoming clearer by the day that even in economies where rate increases should be
Chinese Economy Can’t Win For Losing
“Weak demand!” Screamed Chinese trade figures released on Wednesday. The numbers, which were disappointing, extended
There’s Always A Disconnect Somewhere
Stocks are disconnected from the macro. How often have you heard that in your investing
Lessons From The Apparent Nord Stream Coverup
All’s fair in love and war, which I suppose means we can forgive Ukraine if
Goldman Cuts US Recession Odds, ‘Undoing’ SVB-Inspired Revision
Good news! The increase in US recession odds associated with SVB’s collapse was a false
‘Worst Liquidity Contraction Since Lehman’ Adds To Bear Case
As most readers have doubtlessly surmised, the tech-driven rally in US equities has done exactly
When A Pause Is Just A Pause
While previewing this week’s data void in the US, I jokingly noted that traders concerned
Concentrating On Concentration
Just how concentrated is the US equity market? Well, the most concentrated ever on at
Under The Lacquer, A Benighted Market
At this point, the narrative is so familiar that just about anybody could pen a
Young Retail Investors Spotted In New Tech Frenzy
Retail investors may be back at it in US tech shares. You don’t so much
As Summer Beckons, Surveys Paint Divergent Picture Of US Services
US services sector activity decelerated to the brink of contraction in May, in what counted
Top Strategist Sees ‘Moment Of Recognition’ For US Stocks
For just the fifth time in nearly a quarter century, the forward earnings growth forecast
S&P On Brink Of Bull Market Brings Out The Bears
The bears are out. With the S&P on the brink of a bull market, many
In Effect Until Recession
If you’re inclined to suggest the recession crowd is treading dangerously close to Boy Who
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