This Was Supposed To Be China’s Year. Alas…
This was supposed to be China’s year. You can probably recite the investment case from
UK Gets Another ‘Terrible,’ ‘Crushing’ Inflation Report
There was more bad economic news out of the UK on Wednesday, when inflation data
Mind The Taiwan Canary
Late last month, I identified a couple of additional recession “canaries” to complement the yield
Greedflation Aside, Corporate Profitability Is Feeling The Squeeze
Given all the media attention afforded to so-called “greedflation” (typically defined by reference to near-record
Man Who Downgraded America Weighs In On Debt Ceiling Drama
In 2011, Standard & Poor’s famously downgraded US debt for the first time. The man
New Home Prices Plunge In Still-Distorted US Housing Market
Last week, I spent some time documenting what I called the “great American housing bifurcation.”
After The Stop-In: Markets Face New Risks If D.C. Deal Done
Needless to say, under-positioned discretionary investor cohorts were in an uncomfortable position this week. On
Kolanovic Ups Gold, Cash Allocation As Risks Proliferate
Cash and gold. What’s not to like? Amid a grinding rally which took US equities
US Services Sector Laughs At Fed Hikes
Surprise! The US services sector is still running hot. If I didn’t know any better,
‘Greedflation’ Makes Survey Cameo, Giving ECB ‘A Headache’
Europe’s factory slowdown worsened in May, even as activity in the services sector continued to
Profit Maximization In A Factless World
As you might’ve heard, there’s no such thing as “facts” anymore. Facts went out of
Big Short? No. Big FOMO? Yes.
“FOMO” is now a fixture of daily market banter. That’s unfortunate, not because it suggests
How Much Did Quants Buy Over The Last Six Months?
It’s no secret that systematic flows can be a deciding factor for equities over short
Corporate America’s New Strategy: Just Say ‘A.I.’
The A.I. discussion is unfolding everywhere, including and especially corporate boardrooms. Those discussions spilled over
The Hawks Are Out
A pair of born-again Fed hawks suggested Monday it’s too soon for markets to assume
Bear Market Rally On Borrowed Time, Wilson Insists
A.I. may be “for real,” but it’s not going to stop a “deep” earnings downturn
The Not-So-Curious Case Of Foreign-Facing Stock Outperformance
Geopolitical tension is running high. Perhaps you noticed. The first three years of the 2020s
Debt Ceiling Crisis Spotlights Democracy’s Dilemma
“Are you just gonna sit there and pick and choose?” Chuck Todd wondered. He was
Boring Bears
Outflows from US equities are ongoing. If this feels a bit Phil Connors–ish to you,
‘So Many Things Can Go Wrong’
If it’s evidence of moderating inflation you seek, you won’t likely find it in this
‘Absolutely Partying’ Until The End Game Arrives
Assuming no US default — and as discussed in the weekly+, you pretty much have
Starry-Eyed
On several occasions over the past six or so months, I’ve delved into the r-star
What Janet Yellen Sees As Debt Limit X-Date Looms
Let’s be clear: Most of us are working on the assumption the US won’t default,
Left For Dead, 60/40 Attempts Comeback
So far, 2023 has been kind to beleaguered 60/40 portfolios. As discussed here at some
Promises, Promises
Jerome Powell said mostly the “right” things Friday while speaking at a monetary policy conference
‘You Can Feel It Turning’: Stock Melt-Up Takes A Toll
Increasingly, funds are concerned they might miss the proverbial boat, and one bank’s client conversations
AI = UBI: The Coming Dystopia
Earlier this year, Goldman estimated that one-fourth of current work tasks in the US could
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