Dictatorial Data
Chinese macro releases are a bit of a rabbit hole. Beijing leaves a lot to
F–k Ken Griffin
Ken Griffin’s concerned about Harvard, his alma mater. And also about higher education in the
Meanwhile, In The Blue-Chip Corporate Bond Market…
Half a trillion. Give or take. That’s how much investment grade credit funds are on
US Consumer Sentiment Plunges
The mood among US consumers darkened considerably in early May, this week’s only top-tier US
Inflows To Stock Funds Accelerate Into Rekindled Rally
US equities responded to a three-week pullback with a three-week rally, pushing the US benchmark
‘Peak No Landing’
Everyone’s in the “Anything But Bonds” rally and “no one’s in the long-end.” So said
Money Fund AUM Swells Anew With Tax Season Over
With tax season out of the way (I forked over a Hublot Sang Bleu-size chunk
Yes Or No Questions
How worried should investors (and the world) be about post-election volatility and societal upheaval in
The Biden-Bibi Breaking Point
Early last month, I described Benjamin Netanyahu as “an intolerable liability.” The White House, I
Fait Accompli
I was having a pretty hard time pretending to care about the Bank of England
The Sky’s Falling
Unfurl your “Sky Is Falling!” banners. Dredge up your best recession hyperbole. And most importantly,
Before The Black Swan, A ‘Big Summer Rally’?
Looking for another bullish narrative? Of course you are! Who isn’t? The financial media, for
Rate Relief No Consolation For America’s Priced-Out Homeowner Hopefuls
Guess what? The cost of financing half-million-dollar, wooden boxes over three decades fell appreciably last
Bombs, Protests And Choices
A “shot across the bow.” That’s how one US official, without apparent irony, described the
Zentner Clings To Rate-Cut Call As Fed Searches For Disinflation
I harbor — how should I put this? — “reservations” about the usefulness of sell-side
Did Americans Just Put Away The Credit Cards?
Is the incorrigible American spendthrift finally exhausted? I don’t know how many times I’ve posed
Fleeting Vol Spike Drove $45 Billion In Mechanical Selling
Things were suddenly interesting. And then, just as suddenly, they weren’t again. The fleeting selloff
What Happened To The Selloff?
Remember the equity correction? If not, don’t worry. You didn’t miss something. There wasn’t one.
Stan Druckenmiller Takes Up Clout-Chasing In Semi-Retirement
I don’t much care for Stan Druckenmiller. He’s smug. And not smug like I’m smug.
Deal Or No Deal
Sometimes (more often than I’d like) I get grief for stating the obvious. That’s unfortunate.
Who’s Afraid Of The Big, Bad Government?
For US equities, domestic politics is an “unpriced” risk, according to Goldman. I spent some
Kolanovic, JPMorgan Still Skeptical. Of Everything
Jerome Powell’s reluctance to countenance market speculation about a return to rate hikes is indicative
Between The Lines
If you asked a committed bear what’s priced into equities in terms of risks, he
The Graveyard
Picture this. You’re huddled with your children and extended family in a tent where you’ve
Progressive History X
In August of 1912, while addressing the Convention of the National Progressive Party in Chicago,
An Early Word On US Election Tail Risks
If you’re wondering about mispriced risk in equities, it’s worth asking how stocks might react
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