In Macro Limbo, Your Guess Is As Good As Anyone’s
The data calendar in the US is relatively sparse in the new week, which could
Kevin McCarthy To Get Unseriously Serious About US Debt Standoff
It’s tax week in the US, and Kevin McCarthy is apparently poised to detail House
Lula, Xi And Two Quick Thoughts On De-Dollarization
“We have interests in building a new geopolitics so that we can change world governance,”
Inflation Is Independent Of Money And Policy, PhDs Remind You
“Inflation, as a phenomenon, is independent of central banks and money. It can easily occur
US Rents Fall First Time Since Pandemic
There’s good news for America’s legions of renters who, thanks to the pandemic housing frenzy
What Jamie Dimon Said On JPMorgan’s Earnings Call
For obvious reasons, market participants were keen to hear from Jamie Dimon on Friday. JPMorgan’s
Among The Giants
Bigger is better when you’re a bank. Big banks might contest that assertion depending on
Bulls, Bears And Surprises
Like most people who harbor generalized doubts about humanity, not much surprises me. I often
Waller Versus Bostic
Raphael Bostic is ready to pause Fed rate hikes after one final move in May.
JPMorgan, Dimon Pass Earnings Test With Flying Colors
JPMorgan kicked off big bank earnings with a very solid set of results, particularly under
Americans Fly Blind On Inflation. Unmoved By Bank Drama
If US consumers are worried about banking stress, it’s not showing up in surveyed sentiment,
Ambiguous Retail Sales Suggest American Consumers In Limbo
US retail sales fell more than expected in March, data released on Friday showed, adding
Fed Backstop Borrowing Falls Again
Banks continued to avail themselves of Fed liquidity backstops over the last week, but the
Money Market Fund Assets Swell, Approach $5.3 Trillion
Surprise! Money market funds attracted another $30 billion over the latest weekly reporting period, data
Local Oil Man Gets 50% Raise. Makes $36 Million
Typically, I wouldn’t go out of my way to call out CEO compensation, where “out
Was The Plunge In US Banking Lending An Optical Illusion?
Was America’s much-hyped “credit crunch” a mirage? As most regular readers will recall, Fed data
Fed Gets More Disinflation Evidence With Cool PPI, Rising Jobless Claims
In another constructive development for the disinflation narrative in the US, producer prices across the
ECB Notices Greedflation. Albert Edwards Offers Another Warning
Earlier this week, I suggested the purported wage-price spiral which many argue is driving inflation
From SoftBank To Apple, Capital Cringes At Xi
SoftBank and Prosus are selling more Alibaba and Tencent. That’s not the best news if
Americans Harbor Very Negative View Of Xi Jinping In New Poll
“Few Americans have confidence in Xi to do the right thing in world affairs, including nearly
Fed Staff Saw Recession From Bank Stress, Minutes Reveal
The word “recession” came up three times in the March FOMC minutes, all in the
Goldman Changes Fed Call Amid Tight Credit, Mixed Official Messaging
The US is “certainly” past peak inflation, Tom Barkin told CNBC on Wednesday, following a
Soft Landing Up North? BoC Seems To Think So
A month after becoming the first developed market central bank to pause a tightening campaign
Fed, Markets Get Good News In Relatively Benign CPI Release
Headline inflation in the US rose less than expected in March, while core price growth
Buffett: ‘No Reason To Worry’ About Bank Deposits
Warren Buffett wouldn’t confirm reports he discussed adverse developments in the US banking sector with
Latent Recession Risk At 50% Underlines ‘Wile E. Coyote’ Worries
Recession risks are elevated. I suppose that goes without saying. If it does go without
Fed Has $1 Trillion In Paper Losses. Projects $90 Billion In 2023 Red Ink
You’ve surely seen the figure by now: US banks were sitting on $620.4 billion in
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