Policy Errors And Politicization
Is the Fed making a policy mistake by cutting rates at this month’s meeting? Note
When You Lose The Acyclical Jobs…
I should say a few more words about Wednesday’s update on job openings across the
One-To-One No More
There were considerably fewer open jobs across the US economy at the end of July
Little Men, Big Parades
Earlier this week, in “Autocrats On Parade,” I spent some time talking about the importance
In US Housing: An Emergency
As a general rule, you don’t want to be spending more than a third of
Welcome To September
It was notable that the long-end of the US Treasury curve saw no relief Tuesday
‘We’re Bringing Back Factory Jobs’!
Hiring. Tuesday’s update on America’s marquee gauge of manufacturing activity was all about hiring. Specifically:
Signs Of The Times (Gold And Gilts)
Call them signs of the times. On Tuesday, long-end UK yields were the highest in
Autocrats On Parade
The more autocratic you are as a leader, the more important optics tend to be.
No Bad News Allowed
It’s a big week on the macro front in the US, where traders will return
Midnight In America
Donald Trump’s tariffs are illegal. Or something. This — the court battle over the legality
Enjoy It While It Lasts
All’s well that ends well? That’s a question. I don’t know the answer. Stocks slipped
Fed Politicization Is A 2026 Story, Traders Bet
It could’ve been worse. Indeed, I’ll argue it should’ve been worse. “It” is the bond
Services Inflation Revival Blemishes Otherwise Rosy US Macro Picture
Core inflation in the US was the briskest since February last month, according to BEA
Cook V. Trump
Consider yourself sued, despot. That was Lisa Cook’s message to Donald Trump on Thursday, when
Nothing Doing
No traction. None. That’s housing contract activity in America. We’re well on past broken record
US Economy Revised To Show Stronger Performance
Good job, Howard. The BEA, which one can only assume is every bit as beholden
‘The Ultimate Dip-Buyer’
I remind readers of this whenever the opportunity presents itself: The biggest source of demand
Frenzy Wanes, But Nvidia Still ‘Extraordinary’
Nvidia and its swollen market cap narrowly topped estimates in results released after the bell
Told You So. Now It’s Too Late
Now you get it. Now everyone gets it. If only it weren’t too late. Above-the-fold
No, Bill. It Wasn’t ‘Fine’
Earlier this month, Bill Dudley penned an Op-Ed confidently declaring that the Fed will “be
Trump, Cook, SCOTUS And The Appeasement Paradox
The problem with appeasement as a strategy for dealing with overbearing types is self-evident: They
In US Housing, A ‘Decisive Shift’
We’re witnessing “a decisive shift” in the US housing market. Specifically, it’s shifting decisively in
US Consumers Still Not Convinced ‘Tariff’ Is ‘Most Beautiful Word’
The good news is, consumer confidence in the US came in ahead of estimates in
Fire Juggler
I’m quite sure he doesn’t care, or at least not yet, right now. And he’s
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