China Outright Bans Nvidia AI Chips. Local Tech Rally Goes Nuts
Way back last month, when reports suggested Beijing “discouraged” Chinese firms from using the lower-end
Froth! Record Share Of Money Managers Say Stocks Overvalued
Do you suspect the S&P might be overvalued, trading as it does on a 23x
The Smart Money Hasn’t Been This Bullish All Year
Bullish. That’s fund managers. Or the ones who bothered to participate in BofA’s closely-watched monthly
Builders Pray For Lasting Rates Relief To Rescue US Housing
Hope floats. Although the marquee measure of national homebuilder moods in America was woeful again
America’s Notorious Spendthrifts Have No Chill
Look out! US retail sales are comin’ in hot, dammit. The last top-tier macro release
How The Cost Of Labor Impacts US Corporate Profits
Were you curious as to the sector-by-sector breakdown on labor costs as a share of
Why Stocks Aren’t Worried About A Downshifting US Jobs Market
You don’t need me to tell you this, let alone any “chief equity strategist,” but
No More Quarterly Earnings Reports? Trump’s Had Worse Ideas.
Donald Trump has some ideas. Most of them are bad. Not all of them, though.
Nvidia Broke Chinese Laws, Xi Reckons
The problem with operating in China is that the rule of law’s very weak where
In China, Nothing Doing
Stop me if you’ve heard this before: Policymakers in Beijing are still struggling to engineer
The Weirdest FOMC Meeting Ever, Part Deux
Amid the political melee, it’s easy to forget that there actually is a genuine (i.e.,
In Other News…
The September FOMC meeting isn’t the only event on the macro docket this week, although
The Weirdest FOMC Meeting Ever, Part I
The September 2025 FOMC gathering will be a surreal experience. For markets, but also for
Weekly: The Anarchy Hedge
I hate to be “that guy.” The guy quoting gold prices and complaining about budgets
It’s Quiet. Too Quiet.
“It’s quiet,” as the clichéd allusion to imminent danger begins. “Too quiet.” I talked about
Bad News Is Good News (Double Dovish Whammy)
The good news for stocks it that the data’s bad. How many times have we
Vibecession, Now With Job Losses!
Consumer moods in the US deteriorated early this month, according to the marquee gauge of
Stock Bubble Metric Hits New Record In Nod To Inequality Spiral
US equities came into Friday looking for a second consecutive weekly gain, a fifth in
Bolsonaro’s Guilty
Tariffs on Brazil are 10,000% starting tomorrow. I’m just kidding. Probably. Maybe. Hopefully. Donald Trump’s
A Few Words On Charlie Kirk’s Assassination
The easiest way to understand Charlie Kirk’s death is to state the facts: Kirk was
Jobless Claims Alarmism Kicks Into High Gear
Jobless claims in the US are still rising! Jobless claims in the US just spiked
‘Benign’ Inflation Is In The Eye Of The Beholder
Phew. We squeaked by. I guess. Core inflation across the US economy ran 0.346% in
There’s An ‘Invisible Hand’ Keeping Stocks At Records
There’s an “invisible hand” at work and I don’t mean Adam Smith’s thoroughly exhausted metaphor
Reckless Mischief
Drones. Vladimir Putin’s got ’em to burn thanks in part to Iranian generosity. UAVs are
Larry Hits The Jackpot
Larry Ellison made something like $120 billion by lunchtime on Wednesday. How’d you do? I
The Bigger Story Behind Cook V. Trump
It’s not a stretch — or if it is, not an especially large one —
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