US Retail Sales Data Complicates Already Fraught Fed Calculus
US retail sales rose more than expected in June, key data out Friday showed. Market
Chinese Economy Flatlines, Further Imperiling Full-Year Target
The Chinese economy barely grew during the second quarter, data out Friday showed. At 0.4%,
Jamie Dimon Has Some Things On His Mind
Jamie Dimon is no stranger to storms. He’s been through large ones, in open seas,
Hubris And ‘Dangerous Groupthink’
Christopher Waller wasn’t prepared to unequivocally endorse a 100bps rate hike at this month’s FOMC
Wall Street Goes 0-2 As IB Slump Dents Results
With two reports on the books for second quarter earnings, Wall Street was 0 for
Fed, Politicians, Economists Are Gaslighting Americans On Inflation
Markets scarcely needed another reason to fret about inflation after June’s harrowing CPI report, but
JPMorgan Comes Up Short As ‘Hurricane’ Looms
Meteorological phenomena got short shrift in JPMorgan’s second quarter earnings materials, but Jamie Dimon did
‘Everything’ Means Everything
At this point, it’s scarcely worth mentioning how far we’ve come on the monetary policy
The Worst Inflation Report In Modern US History
US consumer prices rose 9.1% from a year ago, blazing-hot data released on Wednesday showed.
Canada Ups Inflation Fight Ante With Massive 100bps Rate Hike
After triumphing in a recent battle with COVID, Bank of Canada governor Tiff Macklem will
How Long And How Far Will This Go?
The global tightening impulse accelerated on Wednesday, as New Zealand and South Korea stepped up
Meanwhile, In China…
China logged a record trade surplus in June, data out Wednesday showed. There were caveats
Bassman: ‘There Is Significant Potential For Disruption’
While I suspect there were few kind words for him in the 1980s, today Volcker
Germany Prepares For ‘Worst’ As Investor Outlook ‘Collapses’
“Economic expectations collapse,” read the headline atop the July vintage of Germany’s ZEW survey. It’s
US Small Business Outlook Plunges To New Record Low
America’s small business owners have rarely felt worse. Ask them about the outlook for the
Penrose Stairs
I talk quite a bit about self-referential market dynamics in these pages. Some of those
To Break A Madman
One problem with trying to craft a coherent sanctions regime against Vladimir Putin’s Russia is
Nobody Accepts The Reality Of Investing In China
It may never be truly safe to invest in Chinese equities again. I realize that
Markets Are Obsessed With A Term No One Can Define
The US is either in a recession already or headed into one soon. Now if
What If God Was One Of Us
Inflation data out of the US will dominate headlines in the week ahead, but it’s
Inflation Heat Check And The Three-Digit Hike Tail Risk
Like shoppers waiting anxiously for a monitor in the checkout line to tally the damage
Searching For Bulls In A Desolate Wasteland
Do nosebleed levels on the most widely-cited measure of bond volatility presage a counter-trend rally
Predictions About The Future
With earnings season just days away in the US, it’s not necessarily this quarter’s results
Mr. Musk Terminates The Merger
Elon Musk doesn’t want Twitter anymore. Maybe he never did. We’ll never know. Frankly, I’d
Math Problems
“It ain’t over ’til the Fed lady sings,” BofA’s Michael Hartnett wrote, employing a somewhat
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