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Featured

The Capex Catch-22

November 3, 2026November 3, 2026
  • Someone’s Got Work For You

    November 3, 2026November 3, 2026
  • Tech Got No Love This Earnings Season

    November 3, 2026November 3, 2026
  • Have The Hyper-Scalers Lost Their Minds?

    November 2, 2026November 2, 2026

Markets

Apple Sets A Bunch Of Records. Misses In China

November 2, 2026November 3, 2026
  • Sell-Side Sarcasm: New And Improved!

    November 2, 2026November 3, 2026
  • Weekly: The Leveraged Buildout (Speculative Gravity Control)

    October 31, 2026November 2, 2026
  • The Problem, In A Nutshell…

    October 30, 2026November 2, 2026
  • What’s What And WTF?

    October 30, 2026November 1, 2026

economy

Debbie Downers Amid The Renaissance

November 2, 2026November 3, 2026
  • Polls, Projectiles And Payrolls

    November 1, 2026November 2, 2026
  • ‘Remains Elevated’

    October 29, 2026October 30, 2026
  • Boom!

    October 29, 2026October 30, 2026
  • Dissembling Strategery

    October 28, 2026October 29, 2026

Geopolitics

Let’s Talk Blue Waves

November 1, 2026November 2, 2026

Lagarde Versus Le Pen?

October 29, 2026October 30, 2026

The Tragic Irony Of The Israeli State

October 28, 2026October 29, 2026

Duly Noted

An ARM And A Leg

October 28, 2026October 30, 2026

Not Since 1969…

October 22, 2026October 24, 2026

Trump Raises Tariffs On China, Thanks You For Your ‘Attention To This Matter’

August 23, 2019August 24, 2019

Trump is right about one thing, though. There truly is “no end in sight”.

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9 Comments on Trump Raises Tariffs On China, Thanks You For Your ‘Attention To This Matter’

On Wall Street, A Summer Meltdown

August 23, 2019August 23, 2019

… stunned traders, disillusioned investors and indifferent algos looked haplessly to one another for answers. 

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oil9 Comments on On Wall Street, A Summer Meltdown

Spare A Thought For The Bank Of Japan On Friday

August 23, 2019August 23, 2019

Haruhiko Kuroda has a yen problem and it just got materially worse.

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7 Comments on Spare A Thought For The Bank Of Japan On Friday

‘Is That Even Legal?’ Analysts, Traders Incredulous As Friday Conflagration Engulfs Markets

August 23, 2019August 23, 2019

“The market should have realized” this was coming.

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3 Comments on ‘Is That Even Legal?’ Analysts, Traders Incredulous As Friday Conflagration Engulfs Markets

‘The Fed Did NOTHING!’ Trump Loses Mind On Twitter After Powell Speech, China Tariffs

August 23, 2019August 23, 2019

“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi”?

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21 Comments on ‘The Fed Did NOTHING!’ Trump Loses Mind On Twitter After Powell Speech, China Tariffs

Watch Peter Navarro React To China’s New Tariffs With Maria Bartiromo

August 23, 2019

“They flood our communities with fentanyl”.

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2 Comments on Watch Peter Navarro React To China’s New Tariffs With Maria Bartiromo

Powell Emphasizes Global Slowdown, Geopolitical Turmoil In Crucial Jackson Hole Speech

August 23, 2019August 23, 2019

“The three weeks since our July FOMC meeting have been eventful”.

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7 Comments on Powell Emphasizes Global Slowdown, Geopolitical Turmoil In Crucial Jackson Hole Speech

Nomura’s Charlie McElligott On China Tariffs: ‘September Selloff Window May Be Pulled Forward’

August 23, 2019August 23, 2019

“The pieces were already aligning”.

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Leave a Comment on Nomura’s Charlie McElligott On China Tariffs: ‘September Selloff Window May Be Pulled Forward’

China Escalation Piles Pressure On Powell To Blunt Impact Of Latest Trade Tiff

August 23, 2019

Maybe it’s all part of the administration’s “master plan”, but we doubt it.

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oilLeave a Comment on China Escalation Piles Pressure On Powell To Blunt Impact Of Latest Trade Tiff

China Strikes Back With Tariffs On $75 Billion In US Goods

August 23, 2019August 23, 2019

Trade wars are “good and easy to win”.

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4 Comments on China Strikes Back With Tariffs On $75 Billion In US Goods

Trump Needlessly Fans Recession Flames With New Tweets Alleging Economic Conspiracy

August 23, 2019August 23, 2019

“I always find a way to win”!

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2 Comments on Trump Needlessly Fans Recession Flames With New Tweets Alleging Economic Conspiracy

Goldman Delivers Last Minute Market Musings Ahead Of Powell In Jackson Hole

August 23, 2019August 23, 2019

“We have not changed that baseline view”.

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1 Comment on Goldman Delivers Last Minute Market Musings Ahead Of Powell In Jackson Hole

China To Unveil Retaliatory Tariffs On US Goods, Global Times Promises ‘Pain’

August 23, 2019August 23, 2019

“China has ammunition”.

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Leave a Comment on China To Unveil Retaliatory Tariffs On US Goods, Global Times Promises ‘Pain’

Larry Kudlow Teases ‘Tax Cuts 2.0’, Coming Somewhat Soon To A Campaign Trail Near You

August 22, 2019August 23, 2019

“You might” see them before the election.

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Markets Brace As Fed Hawks Raise Stakes In Jackson Hole

August 22, 2019August 23, 2019

Surely he wouldn’t risk it – or would he?

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11 Comments on Markets Brace As Fed Hawks Raise Stakes In Jackson Hole

Larry Summers Presents: ‘Black Hole Monetary Economics’

August 22, 2019August 22, 2019

“The United States is only one recession away from joining Europe and Japan.

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3 Comments on Larry Summers Presents: ‘Black Hole Monetary Economics’

A Grinning Patrick Harker Thinks Trump’s Germany Tweets Are Pretty Funny, Sees No Need For Rate Cuts

August 22, 2019

“I went along with it to get back to neutral”.

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Leave a Comment on A Grinning Patrick Harker Thinks Trump’s Germany Tweets Are Pretty Funny, Sees No Need For Rate Cuts

IHS Markit Hands ‘The Chosen One’ First US Factory Contraction Since 2009

August 22, 2019August 22, 2019

“Not good, not good”.

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1 Comment on IHS Markit Hands ‘The Chosen One’ First US Factory Contraction Since 2009

The Bubble Isn’t Government Bonds, It’s Corporate Debt And Stocks, Albert Edwards Insists

August 22, 2019

“I really start to scratch my head”.

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2 Comments on The Bubble Isn’t Government Bonds, It’s Corporate Debt And Stocks, Albert Edwards Insists

Trump Tells Fed To ‘Fight Or Go Home’. Esther George Still Isn’t Listening .

August 22, 2019

Esther ain’t budging.

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4 Comments on Trump Tells Fed To ‘Fight Or Go Home’. Esther George Still Isn’t Listening .

Albert Edwards: This Isn’t A ‘Bond Bubble’, It’s ‘The Next Phase Of The Ice Age’

August 22, 2019August 22, 2019

For Edwards, there is nothing surprising about any of this.

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Leave a Comment on Albert Edwards: This Isn’t A ‘Bond Bubble’, It’s ‘The Next Phase Of The Ice Age’

In Europe, PMI Green Shoots Seen As Head Fake, While No-Deal Brexit Now Foregone Conclusion

August 22, 2019

Good news, bad news.

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1 Comment on In Europe, PMI Green Shoots Seen As Head Fake, While No-Deal Brexit Now Foregone Conclusion

In South Korea-Japan Spat, Things Go From Bad To ‘We’re Canceling The Intelligence-Sharing Pact’

August 22, 2019August 22, 2019

Geopolitics to hell in a handbasket again.

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Leave a Comment on In South Korea-Japan Spat, Things Go From Bad To ‘We’re Canceling The Intelligence-Sharing Pact’

Did The Bond Bubble Just Quietly Pop?

August 21, 2019August 22, 2019

Perhaps – just perhaps – the “failed” German 30-year sale was the canary in the coal mine

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7 Comments on Did The Bond Bubble Just Quietly Pop?

Trump Should Envy Germany’s Fiscal Discipline, Not Europe’s Monetary Freak Show

August 21, 2019August 21, 2019

The self-declared “king of debt” doesn’t want to pay any interest.

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6 Comments on Trump Should Envy Germany’s Fiscal Discipline, Not Europe’s Monetary Freak Show

Stale Fed Minutes Show Consensus Around ‘Mid-Cycle Adjustment’ Narrative Prior To Market Turmoil

August 21, 2019

It’s safe to say some participants see things differently three weeks on.

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1 Comment on Stale Fed Minutes Show Consensus Around ‘Mid-Cycle Adjustment’ Narrative Prior To Market Turmoil

‘I Am The Chosen One’: Trump Lets Loose In Wild Exchange With Reporters

August 21, 2019August 21, 2019

“Let’s have a recession”!

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9 Comments on ‘I Am The Chosen One’: Trump Lets Loose In Wild Exchange With Reporters

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Monthly Letter

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Recent Comments

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Monthly Letters

The Arbitrageur

October 29, 2026October 29, 2026

To Be Happy

September 4, 2026September 4, 2026

Hell Or High Fashion

July 3, 2026July 3, 2026

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