Desensitized Investors No Longer Shocked By The Shocking
I realize we’re all desensitized by now to visuals illustrating extreme market concentration and its
Unsustainable Rallies
Records on top of records on top of records. Many (most?) advanced economy bourses remained
Nvidia’s $20 Billion Groq Deal Is ‘Stunning’ Power Play
If you can’t beat ’em — or suspect they might pose a challenge at some
A Record Ruble Run
If you expand the cross-asset leaderboard to include a wide range of commodities and currencies
Bessent Floats Change To Fed’s Inflation Mandate
“Well, Martha, in case you don’t know, I’m actually a soybean farmer. So, I have
Epic Buyer’s Market Fails To Break US Housing Deadlock
If you were curious, there are still nearly 40% more sellers than buyers in the
Don’t Look For A Recession In US Jobless Claims
If the plunge in initial US jobless claims witnessed in and around Thanksgiving was a
K-Shaped Capex
Although the “K-shaped” macro motif’s a bit tired by now, it has a lot of
US Economy Grew Rapidly Ahead Of Shutdown
The US economy expanded at a — get this — 4.3% clip in Q3, according
Year One Of American ‘Golden Age’ Ends With Rock-Bottom Confidence
Post your best frustrated Trump memes. Roll out the “golden age” jokes. Recycle the “vibecession”
Is The US Hiring Slowdown Already Over?
Another week, another decent showing for a “real-time” US labor market indicator. Note the scare
A Red Flag For Stock Bulls
There’s a lot of cash on the sidelines. Nearly $8 trillion in money market funds,
The Best Liquidity Conditions Ever?
With the Fed all set to begin reserve management buying of T-bills (and, “if necessary,”
Passive Investing Is (Still) QE For Stocks
Here’s something I probably shouldn’t say to a readership comprised in no small part of
The ‘Dry Powder’ Bull Narrative’s Back
I’m a bit weary of the “dry powder” thesis as an excuse for forecasting more
Trump-Maduro Standoff Deepens As US Enforces Blockade
The US stands in “gross violation of international law” and, more damning in a world
Gold Hits Another Record In Best Year Since 1979
Gold! What can you say about it? I’ll resort to the usual snark. It’s shiny,
The Christmas Trade
It’s Christmas week, and you know what that means: Celebrating the birth of a modest
Fine, I’ll Ask It: What Could Go Wrong?
If peak optimism’s a contrarian indicator, watch out. As regular readers will attest, I’ve long
Weekly: Greed Is Good
Investors are closing out 2025 in greed mode. Technically, global stocks were down two consecutive
A Frustrated Trump Shows Desperation On Economy
On December 17, Donald Trump delivered a bizarre, prime time address to American voters. The
If You Simply Can’t Afford It, Nothing Else Matters
Earlier this week, I mentioned in passing that home listings in the US posted their
Bank Of Japan Still Scared Of Its Own Shadow
Sell the news. Who would’ve thunk it? That’s a humorous, colloquial and, I hope, rhetorical
BLS Credibility Deficit Worsens As CPI Math Panned
Needless to say, the BLS didn’t do itself any favors in the credibility department with
Micron To The Rescue?
“I’m not dead yet!” shouted the AI trade. Between a $350 billion selloff in Broadcom
US Inflation Suddenly Collapses In ‘Lucky’ Break For Trump
I don’t know what we’re supposed to make of Thursday’s inflation report from Donald Trump’s
Divided And Unpopular, BoE Resumes Rate Cuts As Joblessness Surges
You can thank “subdued economic growth and slack in the labor market” for a holiday
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