Central Banks ‘Risking A Bear Stearns’ Moment
There was plenty of “Lehman moment” chatter early this week, when an overblown social media
There was plenty of “Lehman moment” chatter early this week, when an overblown social media
If it feels to you like the tension across markets admits of no readily discernible
The question is no longer “How long until something breaks?” Something broke this week. It
“Markets stop panicking when central banks start panicking.” That’s a familiar refrain. It’s another way
September 28, 2022, was the day central banks were forced back into intervention mode. For
Part of me doubts this needs restating, but given the historic nature of the circumstances,
Just yesterday, Bank of England Chief Economist Huw Pill said plans to proceed with quantitative
Market chatter around the prospect of a global accord aimed at halting the dollar’s inexorable
I doubt I was alone Monday in scouring the thesaurus for adjectives sufficient to convey
If you took anything away from the past 24 hours in markets, it should probably
Back in July, when the Bank of Canada aimed a 100bps rocket-propelled grenade at the
Producer prices in Germany soared last month. To the extent “soared” can be an understatement, consider
I left the car running. I always do. It’s still scorching hot around here, and
Markets moved closer to what felt like a breaking point Friday. FedEx’s bleak remarks on
If you’re looking to assign blame for US stocks’ worst day of 2022, you can
The odds of a “left-tail,” hard landing scenario for the US economy have “exploded higher.”
One, among many, critical dynamics that most market participants either don’t understand or don’t fully
Risk assets weren’t enamored with another disconcerting US inflation report. US equities crumbled after data
If you’re wondering about the scope of mechanical flows which aided and abetted last week’s
If you ever make the (perilous) decision to spend every waking hour immersed in the
The Fed is in the inflation fight for “as long as it takes,” Lael Brainard
On a fateful Friday morning in mid-June, the Fed ran into trouble when an extremely
It’s been an especially rough year for US equities. In fact, 2022 was worse than
If fighting determined central banks is a fool’s errand, what is fighting panicked governments? That’s
For the better part of a dozen years, stocks were beyond reproach. Thanks to subdued
If Neel Kashkari was “actually happy” to see US equities fall following Jerome Powell’s terse
An increasingly acute tightening impulse from a buoyant dollar and surging US real yields is
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