Inflation Test Looms As Stocks Ask, ‘Who Needs Rate Cuts, Anyway?’
The schedule’s pretty crowded this week in the US. An update on the Fed’s preferred
After Munger, Buffett Says Berkshire’s Size Rules Out Big Performance
I’m going to dial back (which is to say omit entirely) the sarcasm and snark
Inflows To US Stock Funds Accelerate Amid AI Frenzy
US equity-focused ETFs and mutual funds saw their largest inflow of the year over the
Dynamics Of A ‘Never-Ending Stock Melt-Up’
“A never-ending melt-up in index.” That’s what befuddled bears were pondering by the end of
Fed Fails To Curb History’s Most Aggressive US Spending Recovery
The Fed has a narrative. They have a lot of narratives, actually. But an oft-repeated
What Xi Jinping Can Learn From The Fed
At some point this week, Nomura apparently cautioned those keen to pick the low in
Money Fund AUM Slips Second Week As Great MMF Debate Continues
This week’s money market fund flows update was mostly uneventful, although it was notable for
Don’t Short A Bubble Exhibit 275 Billion
I don’t want to pile insult atop injury for the earnest skeptics and well-meaning bubble
In US Housing: Signs Of A Thaw Or False Dawn?
Cue a procession of angels: US existing home sales notched a meaningful gain for the
US Economy Continues To Spurn Recession Banter
Activity across the US manufacturing sector expanded at the briskest rate in 17 months in
‘Nailed It’: McElligott On Nvidia
“Nvidia nailed it.” So said Nomura’s Charlie McElligott on Thursday, as US equities looked for
In Japan: FOMO
“Healthy.” That was one adjective bandied about Thursday, when the meteoric rally in Japanese equities
Nvidia Beats Handily. Is It Enough?
The fate of humanity hung in the balance on Wednesday afternoon in the US, where
Why Nvidia Matters For Vol
Wednesday was Nvidia day in the US. On the off chance you’re just coming out
Minutes And Supply
A couple of notables. The Fed minutes skewed hawkish and reception for Wednesday’s 20-year supply
Marko Kolanovic Paints A Foreboding Picture
JPMorgan’s Marko Kolanovic sees risks. Proliferating risks, not least of which is a rerun of
Dangerously Narrow
I’m tired of editorializing around mega-cap “tech” dominance and extreme market concentration. Honest to God
China Goes To War With Quants, Bans Some Selling In Bid To Arrest Stock Rout
I don’t want to overstate the case, but running a high frequency trading operation in
Are We Safe?
“Are you safe?” I used to get that question a lot. It was either completely
Life In General
If there’s anything that frustrates me about opining on macro, markets and policy on a
A Bear Gets Lost In The Woods
Mike Wilson said Tuesday that corporate America’s haves and have-nots divide is getting worse. He
Chinese Banks’ ‘Record’ Rate Cut Is Meaningless
It’s hard to know whether, and to what extent, everyday market participants benefit from staying
Dear Butcher
Wu Qing didn’t have much time to celebrate last week. Spring Festival or not, “The
Houthi Hijinks
The Houthis had a busy day. Crazy rascals. The situation in Yemen’s the furthest thing
How Serious Is Yulia Navalnaya?
The Russian opposition has a new face. And Vladimir Putin a new nemesis. Ostensibly, anyway.
Beijing’s Holiday Macro Spin Falls Flat
It’s almost as if investors have determined that China’s a giant Potemkin village — that
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