US Manufacturing Gets Best Health Check In Four Years
The 2026 expansion across America’s formerly beset manufacturing sector broadened meaningfully in July, the first
Strait Management
Long-end bond yields need another dramatic escalation in the Mideast about like they need more
Summer Jobs
It’s jobs week in America. Who’s excited?! Nobody. Nobody’s excited. Because it’s the first week
‘Moron Risk’
And I thought I was a harsh critic. In the wake of Kevin Warsh’s botched
Weekly: Warsh’s Instant Credibility Crisis
What’d we learn this week? Three things, I reckon. First, we learned markets don’t necessarily
Ken Griffin Saves Genius From Himself
It’s the same story every time. That makes it not only less interesting for me,
In South Korea, Total Madness
“Daddy needs a new pair of shoes!” I tried, but I couldn’t conjure a fresh
Amazon Beats On AWS ‘Boom,’ Apple Results Marred By China ‘Miss’
Large numbers. Amazon raked in more than $200 billion in net sales during the second
Warsh, Apologists Suddenly Unsure About This ‘Mr. Market’ Fellow
Told you so. I told you he wasn’t credible, and now the market’s telling you the
Old, Good News
Underlying price growth on the Fed’s preferred inflation metric decelerated sharply in June from the
Underlying Demand Very Strong, US GDP Report Suggests
The US economy expanded at a slower-than-expected pace in the second quarter, as net trade
Warsh Asked Markets To Speak. He Didn’t Like What He Heard
“Collegial and constructive.” That’s how Kevin Warsh described this week’s FOMC meeting while regaling reporters
Microsoft Beats With Azure, Meta Underwhelms With Sales Guide
Microsoft beat estimates for overall revenue and reported the fastest cloud growth in four years
Warsh Holds Rates In Riven FOMC Nail-Biter
The Fed kept rates on hold Wednesday, as expected. “As expected” needs a giant asterisk.
Mideast Melee Rekindled
“Many important subjects were discussed” when Donald Trump met at The White House early this
Chip Boom Risks Becoming Financial Crisis For South Korea
Now it’s getting really ugly. Shares of SK Hynix, which had already halved from their
Warsh, Trump And The Case For 50
Ahead of this week’s FOMC meeting, allow me to reiterate my deeply-held view that a
In US Housing, The Worst Of All Possible Worlds?
Price growth’s re-accelerating in the US housing market, according to the marquee measures of national
As Long As The Stocks Go Up…
They don’t love it. “They” are US households, which is to say American voters. “It”
The Casino’s On Fire
Another day, another absolutely harrowing session in the casino that is South Korea’s domestic equity
Skepticism Swirls Around Semis As Hyper-Scalers Report
Chip stocks looked shaky at the beginning of what could be a pivotal week for
Red Scare Day
The chips were down again in the US on Monday, when the SOX slipped back
In China, Fond Memory
They’re excited in China, where the nation’s notoriously high-strung retail set bid for more than
A Pivotal, Perilous Week
It’s a big week in macro-market land, where investors will parse policy decisions from three
Hyper-Scaler Earnings Highlight Market’s Catch-22
A tough post-earnings trade for Alphabet last week despite a very strong Google Cloud readout
What To Expect From The July FOMC
If the question’s what to expect from Kevin Warsh at the July FOMC meeting, I’m
Weekly: ABB
“Anything but bonds.” That’s been the zeitgeist (or the mantra) for the better part of
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