‘Frankenbull’ And Corporate America’s Multi-Trillion Dollar Bonanza
Forget the “everything rally.” That’s not nearly colorful enough as a description of 2020’s various
D.C. Dysfunction & The Lost Art Of Civic Responsibility
Good news: University of Michigan sentiment managed to post what, on the surface anyway, appeared to
Bullish Catalysts And Volatility Suppressants For 2021
Let’s talk bullish catalysts. Or, if you like, we can call them “factors with the
Deal Busters Going Sideways
Risk sentiment soured Friday as market participants weighed stalled stimulus talks in D.C. and the
Enjoy The Money
Another day of convoluted stimulus headlines stateside found lawmakers striking what one Senate aide described
‘It Took Unprecedented Liquidity Merely To Stabilize Risk’
“It’s all about liquidity.” That’s a popular refrain when it comes to explaining how risk
Hot Takes Galore: Key Macro Thoughts And ‘Good Stuff’ With Nomura’s McElligott
Whatever happens later, the “now” is still under the influence of the same set of
Jobless Claims Surge In Stark Warning To Congress
Jobless claims surged last week, data out Thursday showed. 853,000 Americans filed for unemployment benefits
Let’s Talk Inflation. Or A Lack Thereof
Inflation was a bit “hotter” than expected in November, the BLS said Thursday, although “hot”
ECB ‘Recalibrates’ Easing Measures. Ups Pandemic QE Program To €1.85 Trillion
As expected, the ECB topped up its emergency pandemic QE program (PEPP), adding €500 billion
‘Never Quite Say Never’
Cans were kicked both on fresh stimulus to help the US weather the winter virus
A Ticket To The S&P Party Costs American Workers More Sweat Than Ever
Let’s say, for argument’s sake, that you have a job. First of all, congratulations! Because
Are We Just Buying Time? ‘An Urgent Need To Reconfigure The Whole Socioeconomic System’
Over the course of the last nine months, I’ve been keen to emphasize that part
Marko Kolanovic Delivers 2021 Outlook: ‘A Decline In Volatility Creates A Positive Feedback Loop’
JPMorgan’s Marko Kolanovic grabbed plenty of headlines over the course of the pandemic, both within
As Households Cling To Cash, Dalio Wonders: Why Not 50X Earnings For Stocks?
While perusing a recent note from Goldman assessing the odds of an equity market pullback
Stocks May See ‘Modest Pullback’ On ‘Extremely Stretched’ Positioning, Goldman Says
“Since the start of November, US equity mutual funds and ETFs have witnessed $52 billion
All Brinkmanship, All The Time
US stimulus talks dominated the headlines again on Wednesday after Steve Mnuchin injected himself into
China Sees First Consumer Price Deflation Since 2009
For the first time since 2009, China witnessed consumer price deflation. CPI declined 0.5% in
Don’t Leave Town Without It
More incrementally positive developments on the vaccine front bolstered risk sentiment in the US Tuesday
Mini-Mansion Mania!
When Toll Brothers, America’s leading luxury home builder, reported earnings after the bell on Monday
Ray Dalio On ‘Floods Of Money,’ Bitcoin, China, And Social Safety Nets
Ray Dalio held another one of his “Ask Me Anything” Reddit events on Tuesday. It
Nomura’s McElligott: ‘Right-Tail, Crash-Up’ Still Most Likely Scenario Despite ‘Scary’ Sentiment Overshoot
The ongoing compression of realized volatility into a rally that saw US equities push to
Meanwhile, In Japan
Lost in the shuffle Tuesday was more than $700 billion in additional stimulus out of
For A Good Cause
Headlines on Tuesday were dominated by the UK’s vaccine rollout (the first among western nations),
Reluctant Borrowers: Another Canary?
I doubt the point needed further underscoring, but just in case, the latest consumer credit
Divide, Conquer & Stay Rich
Part of COVID-19’s legacy will be the extent to which the pandemic laid bare the
‘Real Households Are Going To Be In Dire Straits’: JPMorgan Liaises With Biden On Stimulus
Don’t worry: JPMorgan knows what to do. With lawmakers in Washington still wrangling over how
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