Fed Starts 2023 With ‘Long Way To Go’ On Key Metric
By the end of the first week of the rest of our lives, we’ll have
Back To Business
It’ll be back to something like business as usual in the new week, when traders
China’s Reopening Bust Laid Bare By Disastrous Data
Guess what? China’s decision to roll back strict pandemic curbs didn’t lead to a surge
The Rebirth Of The American Subject
With time, America has become a country with vanishingly few paths out of poverty (or
The Marvelous Stupidity Of The US Debt-Ceiling Debate
I have a very difficult time countenancing the debt-limit debate as it manifests in soundbites
V.P. Phone Home
“We share the same views on the causes, course and logic of the ongoing transformation
Local Genius Loses $140 Billion In ‘Stock Market Craziness’
It’s been a tumultuous and, I imagine, frustrating, year for Tesla shareholders. Getting into Tesla
Double-Edged Swords
Seemingly everything is a double-edged sword these days from a macro perspective. More to the
Good Copy, Bad Copy
Copy for the sake of it. I’m not a fan. Noteworthy market news was sparse
No Surrender, No Peace
Two days ago, Sergei Lavrov told Russian state media that Ukraine should surrender for its
Click Monsters
“It was a click monster.” I cringed, but she couldn’t see me since we communicated
Disconcerting Déjà Vu
China’s grand reopening after three years of government-imposed isolation was supposed to save the global
Results Pending, Hope Floats
I doubt anyone needed additional evidence to support the contention that the US housing market
‘Placeholders For When Something Goes Wrong’
There are a laundry list of reasons to cast a wary eye at the rate
US Home Prices Won’t Go Gentle Into That Good Night
Data released on Tuesday underscored both the impact of the Fed’s ongoing quest to extinguish
Goldman’s ‘Most Out-Of-Consensus Call’ For 2023
Goldman’s most out-of-consensus call for 2023 is arguably their most important. Generally speaking, economists and
When Life Gives You COVID, Make Lemonade
Notwithstanding ongoing tension in the US tech space, market sentiment was cautiously constructive coming off
Planes, Missiles, Drills And Drones
Tensions flared in three of the world’s powder kegs Sunday and into Monday, as border
Lessons Not Learned
“This is not war,” Volodymyr Zelensky said on Telegram over the weekend. “It’s terror. It’s
US Housing Market Enters 2023 As Bubble-Puzzle
Home sales in the US either tumbled the most on record last month or ran
Visualizing Macro History
Anyone with even a passing interest in markets can make a list of 2022’s “top”
Existential Questions For 2023
As the curtain closes on 2022, existential questions abound. Is the world headed for a
Memory Lane And The 6.5% Unemployment Threshold
10 years ago this month, the Fed added outcome-based forward guidance to its policy statement.
Breach Of Contract
I’m not much for normative statements. Words and deeds can be a lot of things,
Stock Funds See Largest Exodus On Record
Barring a Christmas miracle, 2022 will be the worst year for US equities since 2008.
More Stagflation
The last of 2022’s notable US economic data came in broadly as expected, albeit with
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