Meanwhile, Inside The Housing Bubble…
How large was the correction in the US housing market during 2022’s rapid run-up in
Cruel US GDP Revisions Are Cause For Angst
Historically, I haven’t spent a lot of time covering GDP revisions for the US economy,
Albert Edwards Echoes Wilson: Stocks In ‘Death Zone’
SocGen’s Albert Edwards agrees with Morgan Stanley’s Mike Wilson: US stocks are indeed in the
Overhyped Fed Minutes Fail To Impress
“Almost all” Fed officials backed a step-down to 25bps rate hike increments at this month’s
Zuckerberg To Cut ‘Thousands’ More Jobs: Report
Mark Zuckerberg’s “year of efficiency” is proceeding apace, apparently. Meta is gearing up for more
Comrades In Moscow
Wang Yi got his meeting with Vladimir Putin on Wednesday. Or perhaps it’s more accurate
The Search For Peak Rates Continues
Have “oblivious” US equities finally woken up to what’s going on in the rates complex
What The Fed Whisperer Is Reading This Week
I’ve said it before, and I’ll say it again: In my opinion, it’s not ideal
‘No Limits’
Just days after using the Munich Security Conference as a forum to deride the White
Why The Risk Of Profit Letdowns Has Never Been Higher
Never has the risk of downside earnings surprises from corporate America been greater. Or at
What Walmart And Home Depot Said About The Economy
Nearly two years on from the last round of stimulus checks, the US consumer has
Head-Spinning Regime Shift Feeds US Stock Fund Exodus
It’s always an open question whether flows follow performance or vice versa, but the prospect
US Home Sales Fall 12th Month. Prices Near Milestone Drop
Recently awakened animal spirits aren’t showing up in existing home sales just yet. A week
Putin Gives No Ground In Key Speech As War Enters Second Year
“They were the ones who started the war,” Vladimir Putin said Tuesday, during a marathon
Upbeat US PMIs Come With Ominous Warning For Fed
Economic activity in the US picked up markedly in early February, preliminary PMIs for this
Bears Pile On As Calls For Selloff Reach Fever Pitch
The vast majority of bank clients are confused about the resilience of stocks in 2023,
Europe Picks Up Steam. Goldman Raises ECB Call
The European economy, largely left for dead late last year, continued to perform in February,
High-Altitude Hallucinations
Late last month, in “Plane English,” I expressed something akin to exhaustion with market participants’
‘Death Zones’ And The Trillion-Dollar Liquidity Narrative
In his latest note, currently making the proverbial rounds, Morgan Stanley’s Mike Wilson channeled Jon
Fed Success May Go Through Shrinking Corporate Profits
The US may be headed for an earnings recession+, but compared to the rest of
Where To Now For Corporate Profits?
Analysts have rapidly cut profit forecasts for corporate America, even as the breadth of negative
Wartime Presidents
On Sunday evening, the White House’s public schedule for Joe Biden suggested he’d be in
Suddenly, People Are Asking The Bigger Macro Question
The “structural shift” discussion as it relates to long run rates in a new macro
Three-Card Monte
In the new week, markets will be treated to more key economic data impacted by
Stocks March To Their Own Drum
Headed into this year, a generic narrative about bullish equity sentiment went something like this.
In Munich, China Scolds US, Harris Decries Putin
48 hours prior to the convening of the Munich Security Conference, I offered a gentle
You must be logged in to post a comment.