Inflation Is Embedded In The US Services Sector
Friday’s hotly-anticipated read on the state of the US services sector was good, but it
$70 Billion Runs To Cash Amid Macro, Policy Ambiguity
Cash is king. For once, that’s not just a tired cliché to describe risk aversion.
‘The Secular Script’ For An Inflationary Epoch
“An era of extraordinary monetary policy is over,” BofA’s Michael Hartnett declared, dusting off a
Credit Monitor: Outflows For Junk, Record Supply, Bad Month For IG
US junk funds bled another $2.3 billion during the latest weekly reporting period, data released
US Home Prices Fall First Time In 11 Years. But…
It was inevitable, but now it’s official. Sort of. US home prices are falling on
Stargazers
We may be living through the early stages of a “historically unique period.” In the
Say No To Chop, Yes To Cash
Who wants to deal with it? If you’re not asking yourself that question vis-à-vis the
Key US Labor Cost Gauge Triples In Ominous Revision
Unit labor costs in the US rose at nearly triple the initially reported rate during
US Takes Important Step Towards Leaving 30 Million People Hungry
Late last year, when US lawmakers decided, at the last minute, to fund the government
Could The Inflation Crisis Dissolve The Euro?
To exactly nobody’s surprise other than the economists whose forecasts again proved misguided, inflation in
Determined Hawks, Ambivalent Bulls
Markets felt all at once tense and disinterested following what it was fair to call
‘Good For Main Street,’ Bad For Financial Assets
Let the crocodile tears flow freely. The macro regime has shifted in favor of everyday
Disappearing Disinflation
This week’s only marquee data release out of the world’s largest economy was amenable to
Trapped Underwater: America’s Looming Used Car Crisis
“Is the car free?” wondered a Tennessee resident, who leased a used Volkswagen Passat from
Mortgage Apps At New 28-Year Low In Sad ‘Nobody’s Market’
US mortgage rates rose to the highest since November last week, putting further pressure on
China’s Recovery Proceeding Well, China Says
The leadership in Beijing was taken aback both by how rapidly COVID spread across the
The State Of Play For Markets As March Dawns
Although key PMI readings out of the US this week do have the potential to
In Markets, Rationality Doesn’t Always Pay
Morgan Stanley’s Mike Wilson spends a considerable amount of time in his weeklies addressing “pushback”
Managing American Apathy Is Tricky Dynamic For Putin, Xi
Vladimir Putin is having an easier time wearing down voters in Western democracies than he
Americans (Still) Feel A Recession Coming On
US consumers have a “super bad feeling” (to quote Elon Musk) about the short-term outlook
US Home Price Growth Slows To 29-Month Low
US home prices posted the smallest annual gain in 29 months in December, data released
Mortgages Will Soon Be Collateralized By Amazon Stock: WSJ
If you work for Amazon and you have some stock but not a home, there’s
No End Seen To ECB Hikes As Data Mocks Philip Lane
Last year, inflation in Europe was largely a function of the war and its impact
‘Misaligned’ Equities Ignore ‘Negative Externalities,’ Geopolitical Firestorm
US equities re-rated too far, too fast out of the gate in 2023. Where and
Yellen In Kyiv
A week ago, Volodymyr Zelensky welcomed Joe Biden to Ukraine. A day later, Sergei Lavrov welcomed
Make Or Break
The Fed desperately needs a break from hot US economic data. Monday’s large upside surprise
US Pending Home Sales Boom In Latest Threat To Fed
If pending home sales are a leading indicator, the long run of monthly declines in
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