‘Peak Inflation’ Narrative Gets Another Big Boost
Let the celebration continue. Days after a cooler-than-expected US CPI report triggered a spectacular rally
FTX Had A Million And One Suckers
On Tuesday, we learned that Sam Bankman-Fried’s smoldering empire may have ten times the number
Scientific Efficiency
It’s a good thing they have a 20-point plan! Retail sales in China unexpectedly contracted
The Black Box Exploded
Last week, I kicked off the first of five (and counting) articles about FTX and
Responsible Management
Stand aside, decorum, while I lampoon this farce some more. “We had an open and
How Much For The Mogwai?
“Beaten-down technology shares have enticing valuations,” read the deck on a Bloomberg piece published Monday.
Great To See You, Chairman!
“This is not the fundamental interest of our two countries and peoples and it’s not
Serum! Also, The US Economy
There’s no shortage of US data for investors to ponder in the new week, but
The Paradox Of The 2022 Midterms
On Sunday, there were all manner of allusions to Republican “soul-searching” scattered across the front
FTX, Twitter Drama Overshadowed ‘Generational’ 36 Hours For Stocks, Dollar
I don’t think I can remember a time when such a stupendous (and stupefying) rally
Was Bloomberg The CNBC Of Crypto?
[Editor’s note: The original version of this article referred to “DeFi yield farming,” as opposed
Lions, Tigers, Bears. But No Recession, No Rate Cuts
In November, we’ve seen mass layoffs, declining profit expectations and credit events. Lions, tigers, bears,
Why Historic CPI Rally Was A Disaster For The Fed
Headed into the November FOMC meeting, many worried Jerome Powell would come across as unduly
Does Bankman-Fried Deserve A Bail Out?
Predictably, my coverage of Sam Bankman-Fried’s self-described “f–k up” elicited several irritated e-mails from incorrigible
Tunnels, Lights And Trains
There’s a light at the end of the tunnel. (Insert oncoming train joke.) One argument
If Bad News Falls In The Forest…
There was bad news on the macro front Friday, although between Veteran’s Day, high drama
Perfect Bullish Storm
“One month of data does not a victory make,” Mary Daly said Thursday, speaking during
On Wall Street, A Day To Remember
Thursday will go down as one of the more memorable sessions in a year full
McElligott, Nomura Hit Home Run With CPI Call
[Editor’s note: By the close Thursday, the Nasdaq 100’s gain was 7.5%] The dramatic, knee-jerk
Hallelujah
Markets were handed the first piece of good inflation news in months on Thursday, when
‘I F—ed Up’
“I f—ed up.” So said Sam Bankman-Fried, on a call with FTX investors, many of
Tremendous Ambiguity
A palpable sense of “What now?” pervaded US markets Wednesday, when the combination of inconclusive
Dear Crypto: You Have No Lender Of Last Resort
I said I wasn’t going to write about FTX and Sam Bankman-Fried, and God knows
Purple Mud
Americans awoke to the shrill bleating of iPhone alarms and the acrid smell of decaying
Summers, Bidenomics Critic, Says Biden Midterms Best Since JFK
Larry Summers says there’s hope for American democracy yet, if not, perhaps, for the economy.
Familiar Dynamics
I’ve said it before, and I’ll say it again: I don’t envy anyone tasked with
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