Fake Beats
The beats aren’t real! Shouted anybody and everybody, with 65% or so of the S&P
If Nobody Sees It, It Didn’t Happen
If a tree falls in the forest and nobody’s around to hear it, does it
‘This Is Fine’
The good news is, America’s premier statistics agency will prove impervious to Donald Trump’s worst
Alternative Facts
Just when markets were ready and willing to give Donald Trump the benefit of the
Matters Of The Utmost Concern
I’m as exhausted with narrow market laments — the jeremiads of disgruntled bears citing “extreme
Buffett’s Junk Food Write-Down (And Other Berkshire Snackables)
Berkshire reported “earnings” on Saturday, and I gotta say: The report seemed underwhelming. That evaluation
Trump Moves To Fire BLS Chief Over Poor Jobs Report
I’ve said it before since January and I’m sure I’ll say it a few (dozen)
Kugler Resigns, Praises Powell’s ‘Unwavering Commitment’
Adriana Kugler’s seen enough. “Dear President Trump, I am writing to notify you that I
DROP THE RATE!
The sky’s falling. It fell this time last year too. Parallels between this week and
Should’ve Cut! (Déjà Vu All Over Again)
If you were looking to US factory floors for evidence to support a bullish domestic
Revisionist History
Job creation across the US economy slowed to a relative crawl over the last three
Apple Impresses. Amazon Worries With Profit Guide
Amazon topped estimates and guided ahead of the Street for current-quarter sales, but I don’t
Mission Accomplished?
Deals, Donald Trump’s got ’em. Although Trump on Thursday unveiled steep levies on a hodgepodge
US Labor Costs Are Warming Up Again…
For whatever it’s worth, the Fed’s preferred measure of labor costs in America rose more than
Warm Inflation, Cool Spending Hint At Tariff Impact
Technically, the market already had Thursday’s marquee US macro release in hand. The BEA’s personal
Claims Versus Cuts: Who You Gonna Believe?
Jobless claims are low, job cuts are high. Who you gonna believe? I’m just joking.
Meta, Microsoft Deliver Blowout Quarters
Q2 2025 (it’s actually Q4 for the company’s fiscal year) was Microsoft’s 50th anniversary. The
No Surrender
A “reasonable base case” for tariffs is that their impact on US inflation is a
Fed Keeps Rates On Hold. Waller, Bowman Dissent
The Fed kept rates on hold Wednesday, as expected, and much to Donald Trump’s chagrin.
Pending Home Sales Disappoint As America’s Housing Malaise Persists
Contract activity in the beleaguered US housing market slipped in June, partially reversing the prior
Trade Distortion Masks A Slowing US Economy
The US economy expanded a brisker-than-expected rate in the second quarter, the first read on
Private Hiring Rebounds In America, To Sighs Of Relief
Private sector employers in the US added 104,000 jobs in July, ADP said Wednesday. That
A $125 Billion Mechanical Bull
Over the past six or so weeks, I’ve been on at length about re-allocation flows
Time To Hedge?
The S&P came into Tuesday having gone 16 straight sessions without an up or down
Tragicomic US Housing Succumbs To ‘Broad-Based Fatigue’
Homes. If you think they’re expensive to buy, just wait until you find out how
Ambiguous JOLTS
Job openings across the US economy mostly reversed the largest gain of 2025 in June,
American Consumers Reticent Amid Lingering Tariff Angst
A key update on US consumer moods managed to beat estimates in data released Tuesday,
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