AI Bubble Fears Morph Into CDS Hysteria
Late last week, I wrote about the hullabaloo over Oracle’s credit default swaps. The overarching
China Loses It With ‘Dirty Neck’ Takaichi
One thing was clear enough when Sanae Takaichi held “direct and candid talks” with Xi
Wage Growth Goes K-Shaped
When we talk about (complain about) America’s so-called “K-shaped” economy in the post-pandemic era, we
World’s Most Important Macro Release Returns
The newly-reopened US government will release two-month-old employment figures this week. I’d suggest no one
Weekly: Don’t Forget The Fed
The disorienting to-and-fro of momo and meme stocks — and associated fretting over the psychological
Adriana Kugler’s Husband Made Some Trades
When Adriana Kugler bailed on the Fed in August, gifting Donald Trump an open seat
Crocodile Tears For Main Street
It’s rough out there, where “out there” means Main Street in America. Hell, in some
The ‘Best Short’
There’s a new big short. Or “best short.” Somebody call Michael Burry and tell him
In China: Policy Failure
Nothing to see here, just a double-digit plunge in fixed investment across the world’s second-largest
Are Traders Front-Running The Leveraged ETF Rebalance?
Way back last week (time flies when you’re over 40), I casually mentioned that leveraged
The Crash Everyone Saw Coming
The ubiquity of AI bubble narratives and, more to the point, the incisiveness with which
Local Short-Seller Deregisters Fund. Tomatoes Thrown
Michael Burry hasn’t been “in sync with the markets” for quite “some time.” That’s according
The US Government’s Open Again
Well, the US government’s open again, so that’s good. We should be thankful, I guess.
No Data For You!
The thing I like about Karoline Leavitt is… well, nothing. I don’t like anything about
Bostic Peaces Out
I guess Bill Pulte found clerical errors in Raphael Bostic’s mortgage paperwork too. Or maybe
Let’s Talk Housing. And Trump’s 50-Year Mortgages.
Purchase activity perked up in US housing over the last week. That’s good news from
Big-Tech > US Government
One under-appreciated aspect of what’s quickly becoming the grandest market debate of our time —
Not Hiring
Breaking news: The US labor market’s slowing. A dearth of tradable narratives during Tuesday’s bond
Michael Burry, The Hyper-Scalers And A $176 Billion ‘Fraud’
I’m avowedly not a Michael Burry fan. Most of you know that. He’s crazy, and
A Word On CoreWeave…
If you’re not familiar with CoreWeave by now, you need to remedy that situation posthaste,
Trump Raises Specter Of Constitutional Crisis Over Tariff Refund
You gotta hand it to him. I don’t know what “it” is on some days,
How To Be A Contrarian
Do you fancy yourself a contrarian? Of course you do. Just like everyone else who
Why Trump’s Supreme Court Tariff Case Is ‘Too Big To Lose’
Donald Trump’s tariff regime or, getting straight to the point, pending litigation against the levies,
Democrats Were Tired Of Winning
Democrats were, I think, “winning” the US government shutdown. But they got tired of it.
A Private Sector Solution
Investors and policymakers will miss a second update on consumer price growth in the US
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