Sweep Risk
Generally speaking, Americans don’t understand the extent to which democracy’s imperiled. When people hear “democracy
A ‘Nightmare Scenario’
If you’re into nightmare scenarios, I’ve got one for you. I’ll keep it short, commensurate
#AIcapitulation (God Risk Revisited)
“All roads lead to Nvidia.” That’s the trade. Or at least that’s how the market’s
Smash Burgers
Existing home sales held up better than expected last month in the US, but nevertheless
US Economy Stuns Again While Europe Falters
US economic activity picked up further in early June, preliminary PMIs released on Friday showed.
Money Market Funds See First Outflows Since Tax Week
US money market funds saw their first outflows since tax week, an update released after
Capture The Mag
Under-capture. That’s the name of the game for (too) many investors in 2024. The ultra-concentrated
JPM Sees ‘Implicit Short Vol Trade’ In Record-Low ETF Short Interest
Short interest on the two predominate ETFs tracking the most important US equity indices has
In US Housing, A Builders’ Strike?
You can argue with home builders all day about whether they’re correct to insist that
Continuing Claims May Prod Powell Into Rate Cuts
US jobless claims slipped in the week to June 15, Thursday’s update showed. Initial filers
August BoE Cut Highly Likely After ‘Finely Balanced’ Hold
There were “a range of views” among the seven Bank of England officials who voted
Buy Gold To Hedge Republican Election Sweep, One Bank Says
Naturally, the GOP would have you believe that if Joe Biden’s reelected, or if Democrats
Roast Peasant
I suppose this goes without saying, but if you find yourself in Pyongyang begging for
Rate Cuts To Cool Inflation? Home Builders Say Yes
US home builder sentiment deteriorated to the worst levels of 2024 in June, according to
Rishi Gets 2%
Say congratulations to the UK: Inflation’s back to 2%. Headline CPI matched the Bank of
Jensen’s Juggernaut
Two sessions, two new all-time highs. In the first two frames of a split week,
Solving The Mystery Of America’s Dueling Jobs Surveys
There are any number of burning questions one could pose vis-Ã -vis the US labor market,
Goldman’s Hatzius Sees Tipping Point For US Labor Market
Everyone was wrong except Goldman. Goldman and Chris Waller. That’s not exactly how Jan Hatzius
US Shoppers Balk At High Prices
Retail sales in the US rose less than expected last month, this week’s only top-tier
$640 Billion Is Most Bullish Since Peak ‘Everything Bubble’
Fund managers are the most bullish since the height of the so-called “everything bubble.” That’s
‘Haves’-‘Have-Nots’ Divide Reaches Tipping Point, One Bank Warns
There’s a vociferous debate raging in the macro community where economists, technocrats and economists employed
Soft Landing Strip Now Very Narrow, Kolanovic Says
The landing strip’s narrow for Jerome Powell. That was one (familiar) message from JPMorgan analysts
De-Dollarization Delayed
The funny thing about the de-dollarization story is that it’s unequivocally false. I tried to
Rainbow Sprinkles
Morgan Stanley’s Mike Wilson sees a worrying sign. I suppose this goes without saying by
It’s (Still) Not Going Well In China
It’s not going well in China. Still. It’s still not going well in China. Beijing
Mega-Cap Versus Median
Mega-cap exceptionalism’s admittedly a tired topic by now, but then again, it’s the defining characteristic
France To The Right, UK To The Left
Two of the world’s preeminent democracies will hold pivotal elections in a mere three weeks’
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