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
‘Foolproof’ 60/40 Has Worst Year In History. ‘Big Low’ Elusive
Hope springs eternal, which is why, when US equities staged their fifth biggest intraday reversal
Dimon, Summers Warn Of More ‘Surprises,’ ‘Mines’ After Wild Week
A wild week for markets closed on a decidedly dour note, as US equities fell
Investment Banking Not Dead, Just Resting
On Friday, on the firm’s Q3 conference call, Morgan Stanley’s James Gorman described himself as
Gas Prices And Hostile Royals
Bad news. More of it. Consumer inflation expectations in the key University of Michigan survey
McElligott Explains ‘Stock Reversal For The Ages’
Thursday’s reversal in US equities was one “for the ages,” as one mainstream media outlet
‘You Have Asked Me To Stand Aside’: Kwarteng Sacked By Truss
“I hope the PM doesn’t think the problem can be solved by getting rid of
Dimon Steers JPMorgan To Solid Quarter Despite Macro Storm
“There are significant headwinds immediately in front of us,” Jamie Dimon said Friday, in remarks
Bank Of England, Markets 1. Truss 0.
Bank of England governor Andrew Bailey deserves plaudits. I guess. Earlier this week, while speaking
US Retail Sales Ambiguous. Like Everything Else In 2022
Retail sales in the US were flat in September, ambiguous data out Friday showed. Overall,
‘Ample Tradable Opportunities’
Plainly, something was “amiss” in equities on Thursday, although I’m not sure “amiss” is the
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