US Economy Boasts Another Strong Quarter While France, Germany Struggle
Survey data released on Thursday suggested private sector economic activity in the US held steady
Global Dovish Pivot Takes Shape As SNB Cuts, BOE Hawks Give Up
The SNB’s not waiting around. Switzerland became the first G10 country to cut rates in
A Word On Jay Powell’s ‘Failure’ To Arrest The Stock Rally
Following his press conference on Wednesday afternoon, Jerome Powell caught some criticism from the peanut
Bumpy Road
The Fed will almost surely cut rates “at some point this year,” Jerome Powell told
Convoluted Fed SEP Tips Three 2024 Cuts, Higher Core Inflation, Higher Neutral
The Fed kept rates on hold Wednesday. Obviously. I say “obviously,” but it’s worth recalling
Dodging Recessions, Ducking Molotovs
Whatever the Fed suggests about the macro outlook at the March FOMC meeting, the US
UK Inflation At 2 1/2 Year Low Sets Up Summer Rate Cut
Rejoice: Inflation in the UK came in below estimates in key data released on Wednesday.
Can Vol Stage A Comeback?
They’re hedging downside again. A little bit anyway. For months, the options space was defined
Enjoying US Economic Exceptionalism? Thank Immigration
This scarcely needs reiterating, but just in case: It’s tragically ironic that America, a nation
Why The Fed’s Dot Plot Update May Be A Red Herring
Is the obsession over the Fed’s dot plot refresh this week overdone? Yes. Surely. Because
Kolanovic Warns On ‘Straight Line’ Risk Rally
If you’re curious, JPMorgan’s Marko Kolanovic still harbors reservations about the risk-asset rally. “Global equities
US Home Construction Rebounds Amid Builder Mood Inflection
Tuesday brought good news on the housing supply front in the US, where a structural
Risk Appetite Highest Since ‘Everything Bubble,’ Key Poll Shows
One of 2024’s defining characteristics so far is a discernible similarity between the market environment
History Made As Japan Hikes Rates, Drops YCC, Ends ETF-Buying
Remember this day. March 19, 2024, will be enshrined in the annals of monetary policy
In Rates, An Eerie Calm?
In the context of this week’s event risk, it’s worth taking a moment to highlight
Trump Has A Fed Chair Shortlist
Satire died an agonizing death during the Trump presidency. At least it was quick. Caricature
Why One Bank No Longer Favors US Stocks Over European Shares
JPMorgan’s “neutralizing” US equities. I’ve never seen the action verb form of “neutral” used quite
Stock Bear Has Bonds On His Mind
Mike Wilson’s an equities guy, but he has bonds on his mind this week. As
US Builder Confidence Breaches Key Threshold In Still Distorted Market
For the first time since a brutal three-month Treasury selloff drove mortgage rates near 8%,
Does China’s Monthly Macro Data Still Matter?
There’s something odd about suggesting that top-tier macro data out of the world’s second-largest economy
Do Not Congratulate
“DO NOT CONGRATULATE.” That was the explicit, all-caps advice Donald Trump received from his national
Traders Eye Bank Of Japan Decision For Watershed Rate Hike
The Fed won’t be the only game in town this week. In addition to the
What To Expect From The March FOMC Meeting
As a practical matter, it doesn’t make much difference whether the Fed tips two or
Inside The Bubble
I don’t want to suggest Wall Street strategists are engaged in an effort to “explain
US Stock Funds Shatter Inflow Record In Latest Mania Marker
Blow-off top, blow-off equity flows? That’s one interpretation of the latest fund flows update, which
American Consumers Unsure What’s Next
The preliminary read on US consumer sentiment in March was mercifully uneventful on Friday. I
BofA’s Hartnett Sees Goldilocks Economy Morphing Into Stagflation
The macro narrative’s taking an unfavorable turn. So said BofA’s Michael Hartnett in the latest
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