The Growth Religion And Big Tech Exceptionalism
A persistent theme in these pages is the notion that being overweight America’s tech titans
And Miles To Go Before We Hike
In a parallel universe where the latest US jobs report showed the world’s largest economy
It’s A Dangerous World
Not that reminders were needed, but just in case: It’s a dangerous world out there.
The One Thing Stocks Can’t ‘Live With’
“No matter what, we’ve seen the market predominantly go up, not down,” one PM and
Just Two Words: ‘Inflation’ And ‘Buybacks’
If you were wondering what corporate management teams discussed on calls during reporting season… Wait,
Less Is More
The Trump administration had Larry Kudlow and Steve Mnuchin. Joe Biden has Janet Yellen. All
Royale With Cheese
Although Friday’s jobs miss may help growth stocks stabilize in the near-term, recent weakness in
25 Sayings On Vol And Risk
“Pithy Principles for Modern Markets,” via Macro Risk Advisors 1. Big moves matter most The
An Offer They Can’t Refuse
“Today’s jobs report is just an example of [how] we have a long way to
A Staggering Miss: April Jobs Report Is Huge Letdown
The US economy added just 266,000 jobs last month, April’s hotly-anticipated nonfarm payrolls report showed.
‘So-Called’ Bubbles
“Asset prices may be vulnerable to significant declines,” the Fed reckoned, in its semi-annual financial
The Stories We Tell
Everybody has a story. In general, but especially when it comes to explaining their own
Complications, Froth And The Jackson Hole Whale
“Severe complications.” Those were the words a spokeswoman for the German government used Thursday to
US Jobless Claims Fall Below Half-Million In New Milestone
498,000 Americans filed for unemployment benefits last week (figure below). It was the first time
Technical Taper: BOE Slows QE In ‘Operational’ Adjustment
The BOE will slow the pace of weekly bond-buying by £1 billion to £3.4 billion,
Sharing Is Caring
Momentum gathered Thursday for an agreement to waive patent protections for COVID-19 vaccines. Europe appeared
Tickets And Rents
Assuming Americans exercise a modicum of common sense, COVID-19 cases are projected to see a
‘We Are Dying’: Calls For Modi Resignation As India Faces ‘Staggering’ Epidemic
More than a million people could be dead from COVID in India by the end
‘Jay And I Could Never Be Made’
Since the day she was tipped as Joe Biden’s Treasury Secretary, I’ve joked (or not)
Marko Kolanovic: Most Portfolios Are Vulnerable To ‘Inflation Shock’
“If one stretches rubber too long, it eventually snaps,” JPMorgan’s Marko Kolanovic wrote Wednesday, in
‘Inflationary Pressures By No Means Confined To Manufacturing’
Like its manufacturing counterpart, ISM services missed expectations for April. At 62.7, the headline was
US Private Employers Add Most Jobs Since September
Private employers added 742,000 jobs in April, ADP said Wednesday. That was below consensus. The
Joke’s On You
Don’t say you weren’t handed a dip to buy. Or a falling knife to catch.
Beautiful Bombast
Oh, the bombast! The wonderful, wonderful bombast. Selling “gripped” US equities on Tuesday. Tech shares
McElligott: Tech Is ‘Epicenter For How Index Movement Could Get Weird’
While consensus seems united around the notion that buying any and all dips in equities
Quick! Somebody Save This Place
“By the way, these presidents didn’t lead the changes as much as they were chosen
Buy Any Dip (Is What They’re Saying)
If you see a dip, buy it. That’s one takeaway from JPMorgan’s Mislav Matejka, who
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