China Hits Back At Trump, Risking New Escalation Phase
World peace. That’s why China had to institute new, sweeping controls on exports of rare
Weekly: The Stock Rally Has A SPOF Problem
The stock rally has a SPOF problem. Several of them, actually. Fewer than 10 US
Well, Hello Bear!
As a previously bulletproof equity market careened lower into the US afternoon on Friday, CNBC
‘Sinister,’ ‘Hostile’ Moves
Somebody’s mad about being snubbed for the Nobel Peace Prize. Donald Trump on Friday lost
Americans Still Deeply Depressed. Rich Stock-Owners Less So
If you own stocks, you feel better about your financial situation than if you don’t.
The Dollar: Back From The Dead?
Don’t look now, but the dollar’s on the cusp of its best week in nearly
Trading Short, Playing Catch-Up
“Why have equities been trading short?” That’s what JPMorgan’s Nikolaos Panigirtzoglou wants to know. Whenever
Just Another Tech Bubble Article
The good news is, the rally in tech stocks is “justified.” That’s also the bad
How AI Spending Could Rob Stocks Of Their Biggest Buyer
This’ll be a bit repetitive, but that’s fine because it’s important, and there’s a tie-in
A Half-Trillion Dollar Sell Flow (Hypothetically)
Things better stay calm. If you’re looking for a four-word summary of everything I’ve written
Some Fed Officials Unconvinced Of Rate Cut Case: FOMC Minutes
“Several participants observed that high-income households were increasingly doing better, economically, than lower-income households.” That’s
Apples, Oranges And The AI Bubble
I don’t love charts that purport to compare apples and oranges. I say “purport” because
US Home Purchases Are Still Falling Through At Record Rates
US housing. It’s — what word should I use? — complicated. That’s a (very) polite
Albert Edwards Explains ‘Batsh-t’ Precious Metals Rally
“Batshit crazy.” That’s me. Ask around. Somebody, somewhere will emphatically attest. But in 2025 I’m
Gold’s Moment
Gold’s having a moment. Spot prices cleared $4,000 on Wednesday, green-lighting another round of mostly
Margin For Error
I guess I have to mention Oracle. Right? I mean, you can’t harp on potential
Schrödinger’s Equities Vol
What do you get when you combine moribund trailing realized vol with recently firmer implied
Justifiable Propaganda
I’m hittin’ the “bubble” theme pretty hard lately. Some of you are probably tired of
The General State Of Things
It’s not all about AI. The equity rally, I mean. But there’s a self-fulfilling prophecy
Chip Chasin’
They’re chasin’ it. The rally, I mean. If that sounds like a familiar opener (“Do
Hype Machine Volume: 11
OpenAI. Ever heard of it? The funny thing is, most people hadn’t until not so
Gold, Bitcoin And Breaching The Laugh Threshold
We might’ve (b)reached the “laugh threshold.” During the pandemic, I was a staunch defender of
Expeditionary Force
Is that legal? If so, how? Those two questions come up a lot these days
Remember Nvidia?
In an October 4 piece for Bloomberg, Seth Fiegerman and Carmen Reinicke wrote, of the
Troops In The Streets, Layoffs In The Capital
This week’s US data docket would be light even if government reports weren’t suspended for
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