The Medicine Is Working
Markets were handed another favorable piece of US inflation news Wednesday, when producer price growth
Give It Up, Man
“I think yield-curve control is entirely sustainable,” Haruhiko Kuroda said Wednesday, after the Bank of
Markets In ‘Sweet Spot.’ Enjoy It While It Lasts
“Enjoy the sweet spot but also be wary of it,” Deutsche Bank’s Jim Reid said
Landing The Plane After All?
If you ask Goldman’s clients, the odds of a US recession in 2023 are pretty
Morgan Stanley Has Some Wealth To Manage
If you weren’t apprised, Morgan Stanley is a business that “facilitates capital for clients to
There’s A Wrench In Goldman’s Profit Machine
Goldman missed on the top line and reported a $778 million pretax loss in its
‘The Humans Are Still Bearish,’ But Less So
“The humans are still bearish but a lot less bearish than in Q4,” BofA’s Michael
Suspicious Data Suggests China Avoided Deep Economic Slump
The Chinese economy held up far better than feared in the fourth quarter and retail
Survival Of The Richest
This’ll sound callous: There’s no utility left in lamenting the worsening trends in global inequality.
Gambling On Mao
We’re all supposed to be buying Chinese stocks, apparently. The bull case goes something like
‘Pandora’s Box Is Open’: Will The BoJ Shock Markets Again?
There was a time not so long ago — and by that I mean prior
Finish Medication!
Ahead of the pre-meeting quiet period, Fed officials have another week to push back on
Tail Tales
Humanity just suffered two left-tail events in succession. Pestilence came calling in 2020 and then,
War Games: Zoltan Pozsar And The Echo Chamber
“Looks like the CIA are avid readers of Zoltan Pozsar.” That’s a real quote from
Talking In Circles
A recession is coming. Maybe. That was one tentative message from America’s largest banks, where
Cautious Tone From BofA Feels Somewhat Ominous
It was all about net interest income for Bank of America’s Q4 results, and the
McElligott Warns Of ‘Inconvenient Truth’
Over the past several weeks, I’ve editorialized breathlessly about the potential perils ahead for corporate
Goldman Reveals Scope Of Losses In Unit Housing Apple Card
Headed into Q4 results due next week, Goldman investors were warily eying “Platform Solutions.” The
JPMorgan Results Marred By Misses. Buybacks To Resume
JPMorgan ended 2022 “in a position of strength,” Jamie Dimon said Friday. More importantly, the
Losing Our Religion
So far in 2023, US equities are up nearly 4%. At the same time, the
Done By March?
Barring some unexpected turn, the Fed will almost surely downshift to “regular” rate hike increments
Not There Yet
Those expecting a third consecutive downside surprise from consumer price growth in the US were
A ‘Lost Decade’ Brought Forward
Just prior to one of the most challenging years in history for multi-asset investors, Goldman
Bulls Hard To Spot After Soul-Crushing Year
There’s a lot of skepticism out there about US corporate profits. I realize this is
‘Be Careful What You Wish For,’ Mike Wilson Warns. Again.
“Be careful what you wish for,” Morgan Stanley’s Mike Wilson warned, “way” back in August.
McElligott Maps The Macro
Markets are forward looking and the near universal adoption of the The Great One’s famous
Is The Permafrost Finally Thawing In Japan?
Japan famously suffers from a number of economic maladies, some of which are generally seen
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