Goldman’s Clients Fear ‘More Bearish’ 2023
Goldman’s clients — some of them, at least — are more pessimistic about equities in
Will The Fed Give Up On 2% Inflation?
Fed officials have uniformly rejected the notion that it may ultimately be impossible to restore
Upbeat. But Not Really
The last of this week’s sparse US economic data was mercifully upbeat. Or as upbeat
Cancel Your PPI Parties
Cancel any weekend PPI parties you had planned. Producer prices in the US rose more
‘Sell The Last Hike’
It’s fair to say markets are obsessed with the idea that the last Fed hike
Deflation In An Inflationary World
“The spirits” were better Friday, as global equities attempted to trim this week’s losses ahead
‘The Spirits Are Down’
A handful of headlines sounded promising on Thursday, but by and large, they belied recycled
Trump, Bankman-Fried And OverDue Process
The Sam Bankman-Fried saga poses a dilemma for me. It’s a similar dilemma to that
A Healthy Dose Of Xi Jinping Hysteria
Concerns around the rapid abandonment of strict pandemic control measures in China filled a news
‘Capitulation Events’ And ‘Nightmare Scenarios’
The rates-driven, valuation compression stage of the bear market may be mostly behind us assuming
Press Pause
Rate hikes from developed market central banks continued on Wednesday. Admittedly, we might’ve passed the
Goodbye ‘COVID Zero’
China eased COVID restrictions on Wednesday. Again. Amid a rapid rollback of testing requirements across
Warnock, Walker And A Nation Adrift
“There’s no excuses in life,” Herschel Walker said late Tuesday, his penchant for poor grammar
Smoke Signals And Fantasy Worlds
The Fed is planning to hike rates beyond 5% in 2023 and company analysts are
This Ain’t Over: Macro Discomfort Returns For The Holidays
Muted markets and subdued sentiment looked more like visible discomfort by noon on Wall Street
Dimon On Crypto, Hurricanes And Cups ‘Runneth Over’
Jamie Dimon has a lot on his mind. And Dimon’s mind isn’t something he’s shy
Put ‘$5 Trillion’ In The Headline
The holiday slowdown beckons. If you know what to look for, you can see it
COVID Easing Versus Policy Tightening
Markets were muted and sentiment subdued Tuesday, as news of incremental easing in China’s COVID
Reversal Shocks
Notwithstanding a Monday bounce triggered at least in part by a robust ISM services print
US Services Sector Is Thriving. And Also Deteriorating
Bad news: Good news. The first of this week’s sparse US economic data was inconsistent
The Terrifying Case Of $65 Trillion In ‘Missing US Dollar Debt’
“Off-balance sheet dollar debt may remain out of sight and out of mind, but only
Grand Reopening?
“COVID zero” in China is over. Not officially, and maybe not for good. But de
The Fed Keeps Proving Critics Right
I try to give technocratic policymakers the benefit of the doubt. I really do. For
It’s The Quiet Weeks That Get You
The data docket is a bit sparse in the US this week, and Fed officials
America’s Cheap Labor Addiction Revisited
[Editor’s note: Historically, I haven’t run many articles more than once, not because there aren’t
Larry Summers Sketches The Coming Recession
On the eve of a jobs report which argued for the persistence of an overtly
‘The Buy Signal Is Close To An End’
Is the rebound in risk assets sustainable? That question burns after the Dow rallied into
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