‘Disorderly’ Deposits, The ‘Main Trade’ And 2022’s ‘Great Irony’
“We’re bearish despite ubiquitous bear sentiment,” BofA’s Michael Hartnett said, flatly. He’s adamant, that one.
An Itsy Bitsy Little Gully
Sales of existing US homes were down almost 24% in September from the same period
Six Astoundingly Ridiculous Weeks Later, Truss Walks Away
Queen Elizabeth II reigned for seven decades. Liz Truss “reigned” for less than seven weeks.
Got Inflation? Turkey’s Erdogan Has The Medicine!
If you have an inflation problem (and who doesn’t these days, right?) Recep Tayyip Erdogan
Musk: Tesla Valuation Can Exceed Apple And Saudi Aramco ‘Combined’
In “‘Super Bad Feelings’ About A ‘Strong-As-Hell’ Economy,” I referenced Elon Musk’s vague recession remarks
‘The Big Boys Are Now Full-Tilt Day Traders’: McElligott Shocker
On Wednesday afternoon, in response to a reader comment, I noted that although the impact
Incantations
2022’s great inflation debate divides economists and market observers into two distinct camps: Those who
‘Super Bad Feelings’ About A ‘Strong-As-Hell’ Economy
Warnings about impending economic doom (or at least gloom) filled a headline void Wednesday. Jeff
False Starts
Market participants were treated to another mostly ambiguous read on housing starts and permits Wednesday.
As UK Prices Spiral, The Only Certainty Is Stagflation
UK inflation is double digits. Again. For the second time this year, headline price growth
The New Market Reality: ‘Each Day Is Its Own Ecosystem’
Last week, following one of the most dramatic intraday reversals for US equities in history,
‘Schrödinger’s Economy’
Headed into Q3 reporting season in the US, the narrative among many top-down strategists sounded
‘Unhealthy, Unsustainable’: US Housing Recession Worsens Dramatically
Homebuilder sentiment tumbled for a 10th consecutive month in October. In other words, sentiment has
$1 Trillion Now Most Bullish Long-Term Bonds Since 2008
Fund managers have virtually never been this bullish on long-term bonds. Or at least not
‘No Cuts, No Glory’: Policy Capitulation Seen By More Fund Managers
As usual, BofA’s Michael Hartnett gets points for style. “No cuts, no glory,” read the
Goldman Says Made Lots Of Money. Will Reorganize To Make More
As expected, Goldman unveiled a third reorganization in four years on Tuesday. Consistent with media
Bad Calls, Worse Op-Eds And Terrible Ideas
Sometimes it’s hard to know who’s serious and who’s just after some press these days.
Dynamite Fishing
Let’s get one thing straight: The selloff in UK bonds accelerated when Kwasi Kwarteng unveiled
Goldman: This Is The Remix
I’m sure consumer banking sounded like fun at Goldman, but it’s turned into a hassle.
Trussonomics Gets Stunning Coup De Grâce From Hunt
It’s over. Trussonomics is dead. It lasted less than a month. On Monday, one business
All Things Considered, Bank Of America Doing Pretty Well
US consumers “remained resilient” during the third quarter, Brian Moynihan said Monday, in remarks accompanying
Gilt Trip Looms For Panicked Markets
Update: Trussonomics is dead. Jeremy Hunt on Monday effectively scrapped every key element of Liz
Fixer-Uppers
US investors will get a reprieve from top-tier data in the new week, but likely
The King’s Speech
“The next five years will be crucial,” Xi Jinping said Sunday, opening the 20th National
Preaching To A Choir Of Bears
It almost feels gratuitous to keep making the case against US equities. It’s preaching to
‘Yet Another Frame Of Reference’ Collapses Amid Fed Blitz
The rapidity (perhaps “ferocity” is more apt at this juncture) of Fed hikes has markets
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