No Fury Like An Authoritarian Scorned
More thunder out of Beijing Friday suggested the storm is far from over for investors
‘Wholly Explicable.’ One Way Or Another
It probably won’t surprise you to learn that SocGen’s Albert Edwards isn’t surprised by the
‘Shockingly Unstable Synthetic Stability’
“Stability breeds instability.” That phrase (God bless it) never fails to pique market participants’ interest.
Claims And A Quick Thought On ‘Quick Fixes’
385,000 Americans filed for unemployment benefits last week, a reprieve of sorts after two consecutive
BOE Dares To Suggest Central Banks Can Sell Assets
The Bank of England said Thursday that it plans to stop reinvesting the proceeds from
Goldman Raises S&P 500 Target For 2021, 2022
It was inevitable. For quite a while, Goldman held onto their year-end S&P target of
Ruining The Fun
Richard Clarida probably wasn’t trying to ruin anyone’s fun on Wednesday, and on any rational
One Big Hall Of Mirrors
Remember: It’s all relative these days. That’s applicable to pretty much everything, but especially to
Leisure And Hospitality Hiring Plummets. Or, Wait — ‘Softens’
US private sector employers added far fewer jobs than expected in July. Private sector employment
Top-Down Management
“I can hardly imagine that the authorities would just simply ban online gaming once and
Maybe It’s Not ‘Transitory.’ Let’s Try ‘Tolerable’
Slower deliveries, labor constraints, input cost pressures, shortages of key materials and generalized logistical challenges
Keys To The City (And A Reprieve For The Renters)
“Not everyone’s going to agree with this,” Bill de Blasio said Tuesday. It was an
Massive American Debt! (Cheap Zingers )
I don’t generally like situations where “the jokes just write themselves.” Those types of conjunctures
When Oracles Lie
If I hear the term “false optic” from smart people a few more times, I’m
Opium Wars
It was another disastrous day for one of the world’s most influential stocks. Tencent plunged
Take My Breadth Away
I doubt there’s much in the way of reader appetite when it comes to laborious
I’ll Have The Stocks. With A Side Of Caveats
The smartest guys and gals in the room are still overweight equities, you’ll be happy
Why One Bank Isn’t Buying ‘Forced’ Bond Narrative
“We think that it is important to avoid the trap of forcibly fitting a narrative,”
Manufacturing Surveys Show ‘Strongest Sellers’ Market’ Ever
The first of this week’s top-tier US data missed estimates, perhaps helping to make the
Unifying Threads
Monday’s narrative was just recycled, boilerplate copy: Solid earnings and decent data helped “offset” Chinese
Jobs, Jobs, Jobs (And The Rent’s Due)
“Jobs, jobs, jobs!” Or whatever. It’s NFP week in the US, but virus headlines will
Misinformation Nation (Staying Alive In 2021)
“I just want to say, in Florida there will be no lockdowns, there will be
Risk Management In A Nonsense World
One of the myriad confounding factors in what’s been variously billed as the “Great Inflation
Revisiting The Social Contract In The Age Of Delta
Editor’s note: The following short article was originally published May 27, 2020, on Identity Element.
Lyin’ Eyes And Taper Tremors
Goldman’s clients are asking how the onset of a Fed taper will affect equity markets.
Maybe We’re Worried About The Wrong Tail Risk
Jim Bullard said Friday that the spread of the Delta variant is likely to be
Like There’s No Tomorrow
“Global interest rates [are] at 5,000 year lows,” BofA’s Michael Hartnett observed, again, in the
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