$1 Trillion Is The Floor (California Dreamin’)
“Stimulus Talks at Standstill With GOP Yet to Agree on a Proposal” read one feature
‘The Worse COVID Gets, The Better The Markets Do’ (A Misleading Story)
On Monday, Reuters ran an extremely rudimentary piece carrying what I can only describe as
Who Cares Where You Are In The Capital Structure If The Fed Doesn’t Allow Bankruptcies?
Like many irritable observers, I lost my sense of humor with the Hertz saga in
Hedge Fund Performance Anxiety And The Evergreen Case For Equity Upside
For weeks (and weeks), those arguing that the rally in equities had further to run
Marco Rubio, Ted Cruz Incur Xi’s Wrath, While China Ponders Expansion Of Yuan’s Global Role
Just another day in the constantly worsening clash of the titans.
China In The Spotlight Amid Rising Tensions, Crucial Data, Burgeoning Stock Bubble
Let us hope that Peter Navarro’s comments to Fox News on Sunday aren’t indicative of
‘The Strength To Go On’
Both rates and equities are waking up to the reality of surging virus cases in
False Dawns And Summer Doldrums
Market participants sleepily adrift or otherwise mired in the summer doldrums will be compelled to
The Final Leap: America’s Overlapping Crises May Make Fed Stock Buying Inevitable
“If you don’t think that the mechanical processes that have been worked out over the
‘I Feel Compelled To Respond’: Robert Mueller Hits Back After Stone Commutation
“We made every decision in all our cases, based solely on the facts and in accordance with the rule of law”.
‘Rationally Being Irrational’ (And The Second Half Playbook)
“…why would anyone expect markets to connect with macro?”
Deutsche’s Kocic On ‘5 Major Crises’ And ‘The Big Whipsaw Of 2020’
“Markets are not behaving in a conventional way, in any historical, traditional or logical metric
Goldman: In Downside, S&P 500 Profits Won’t Recover From Pandemic Until 2023
Don’t worry, the base case still looks like a “V”.
Nomura’s Charlie McElligott Talks Pandemic, Stocks, Bonds, Election In Sweeping Interview
“The entire professional investor universe is, in my mind, basically a momentum trader themselves”.
Lacy Hunt On Pandemic: Prepare For ‘Years’ Of Low Inflation, High Unemployment, Lackluster Growth
It’s going to be a while before things get back to any semblance of normal.
And Now, Back To Your Regularly Scheduled Political Decay
“This kind of political decay leads either to slowly increasing levels of corruption, or to populist reactions to perceived elite manipulation”.
Looking Ahead To ‘The Poor Bank Redemption’
Is bank underperformance “a signal of no economic hope” and something “sinister”?
Zeitgeist Unchanged
The times may be a changin’, but the post-pandemic world has served to entrench familiar market dynamics.
From ‘Healthy Bull’ To ‘Mad Cow Meat Grinder’: China Engineers Selloff After $1 Trillion Run
“…and investors exclaimed ‘a bull market is coming!'”
Hooray For Jay: Tsunami Of Inflows Into High-Grade Bonds Hits 13 Weeks
To reiterate what is now a weekly refrain…
Is The Market Sleepwalking Into A Summer Growth Scare?
…even as these long, summer days feel sleepy and aimless.
You’re Looking At The Wrong Unemployment Data, One Bank Warns. The ‘Real Story’ Is Here…
The official number “simply does not reflect the reality of the US labor market”.Â
Supreme Court Deals Trump One Loss, One Narrow Win In Historic Fight Over Taxes, Financial Records
“The President is neither absolutely immune from state criminal subpoenas seeking his private papers nor entitled to a heightened standard of need”.
Albert Edwards Recalls Wise Words Of Late Boss. Warns On Deflation, Ponzi Schemes
“The deflationary reality will mean even more monetary largesse is coming”.
Jobless Claims Better Than Expected, But Stalled Re-Opening Push Looms Large
Congress will debate the contents of an assumed next round of virus relief later this month.
The Real Show (I’m Feeling Invincible Right Now’)
Gold, tech, and Chinese stocks.
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