‘Putin Always Chooses Escalation’
Vladimir Putin is facing the very real prospect of defeat in Ukraine. Not just morally
Cross-Asset Crisis ‘Completely Rational,’ Popular Strategist Says
If it feels to you like the tension across markets admits of no readily discernible
Getting The Job(s) Done
The Fed is newly single. Vis-à-vis their mandate. Ironically, the single-minded pursuit of price stability
Yes, Credit Is Probably Cracking
I keep hearing credit “hasn’t cracked yet” despite turmoil in rates, equities and FX. That’s
Chaos Will Return To UK Assets
Admittedly, it feels gratuitous to dwell on the most chaotic week for UK markets since
US Households To Sell $100 Billion In Stocks, Goldman Says
Time and again over the course of what’s destined to be remembered as one of
A Callous, Persistent Bear
It really should’ve been worse. Or, if that’s too strong, we can say that it
Kolanovic Warns On War, Policy Risks
“The most recent increase of geopolitical and monetary policy risks puts our 2022 price targets
Yellen Sanctions Nabiullina Amid Putin’s ‘Forever’ Annexations
Tensions between the West and Vladimir Putin’s Russia ratcheted higher still on Friday, when Janet
Neon Swans, Cash And A Dubious Anniversary
The question is no longer “How long until something breaks?” Something broke this week. It
Breaking News: More Terrible US Inflation Data
The good news is that the bad news was already in the price. Hopefully. Key
(In)credible Cold Turkey Moments
“Markets stop panicking when central banks start panicking.” That’s a familiar refrain. It’s another way
Europe’s Inflation Crisis Spirals Into Double-Digits
In news that’s every bit as disconcerting as it is unsurprising, inflation in the eurozone
Albert Edwards Has A Different View Of UK’s Historic Week
The ongoing crisis in the UK may not be all Liz Truss’s fault. I’m certainly
It Didn’t Last
It didn’t last because it couldn’t. The bid for risk catalyzed by the Bank of
Germany To Borrow €200 Billion For Energy As Inflation Nears 11%
Markets were handed another stunningly dire German inflation outcome on Thursday. The harmonized gauge showed
It’ll All Be Fine. Truss Me.
A renewed sense of angst was evident across markets Thursday, as the respite provided by
Pension Panic Puts Central Banks Back In Intervention Mode
September 28, 2022, was the day central banks were forced back into intervention mode. For
BoE’s Rescue Mission At Odds With Fed’s Inflation Fight
Part of me doubts this needs restating, but given the historic nature of the circumstances,
Druckenmiller’s Bold Call: ‘Something Really Bad’ Could Happen
Stop whatever you’re doing! Stan Druckenmiller wants to say a couple of things. My overriding
The Most Important Takeaways From A Bad News Week
The bad news is… everything, really. It’s not so much that there’s a “bull market”
‘A Forced Pension Fund Bailout. Full Stop’: McElligott On BoE
“Why were they forced into this at a time where they’re seemingly so keen on
BoE Will Buy Unlimited Bonds To Stem Crisis. QT Target ‘Unaffected’
Just yesterday, Bank of England Chief Economist Huw Pill said plans to proceed with quantitative
US New Home Sales Stage Black Swan-Style Surge
Markets were treated to another black swan-type event Tuesday, courtesy of a wholly anomalous beat
Pace Of US Home Price Gains Downshifts Most Ever
Home prices posted a smaller-than-expected annual gain in July, according to one closely watched gauge,
Summers On UK: ‘I’m Surprised We Haven’t Heard From The IMF’
Don’t give Larry Summers an easy target. In the immediate (and extremely chaotic) aftermath of
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