Bulletproof Services Drive ‘Robust’ Start To Q4 For US Economy
The US economy kicked off Q4 growing at a 2.5% clip. That was the implication
About That ‘Surge’ In Jobless Claims…
Two weeks ago, jobless claims in the US ostensibly spiked. I say “ostensibly” as though
The Term Premium’s Back
If you think “way” back to this time last year, you might vaguely recall something
Tesla Shows Up
It’s regrettable — and I say that sincerely as a Tesla shareholder since way back
Pushing The Chips
US equities, and particularly big-tech, looked shaky midweek. Headed into the afternoon on Wall Street
Pre-Existing Conditions
You might’ve argued — and some forecasters apparently did — that existing home sales in
Back On Market Through No Fault Of The Seller’s
US mortgage rates were flat from last week. That’s according to Wednesday’s update on the
Landing Secured?
There’s talk of a Fed pause. Who could’ve seen that coming? I don’t relish “I
Raiders Of The Boss’s Vault
Got gold? If not, the IDF knows where you can find some: There’s tens —
Just Another Magnificent 7 Article
If it’s a slow news day and you’re the financial media, you can always compel
Pirate Treasure And ‘Unwanted Circumstances’
Lebanon’s still a melee, on the off chance you haven’t checked the news. Early this
Say Less. Dear God, Say Less
I’m not someone who engages in gratuitous Fed criticism for the sake of it, and
It’s The Liquidity!
I have a love-hate relationship with liquidity-based explanations for risk-asset behavior. It’s self-evidently the case
Release The Animal Spirits?
Wall Street strategists — as a group, I mean, I’m not singling anyone out —
100-Year Market Concentration Is Huge Risk To Long-Term Stock Returns
When it comes to predicting stock returns, about the best you can do is present
China To Consumers: Please Borrow This Cheap Money!
There were rate cuts in China on Monday. String pushin’. If you long ago gave
How Corporate America Will Spend $4 Trillion In 2025
Money. Companies exist to make it. Or at least that’s the way it is in
Stocks, Bonds And Presidents
This’ll be a pretty slow week on the data front, at least in the US.
Soul Reaper
“Agents of Iran tried to assassinate me.” That sounds like something Donald Trump might’ve said,
Corporate Equity Bid May Hit $1 Trillion In 2025
Who’s going to buy the stocks? Or, put differently, who’s going to buy stakes in
Bearish Tyranny
People think I’m a China bear. I’m not. I mean, I am in the sense
Inflows To Global Stock Funds Officially Surpass Half-Trillion For 2024
Last week’s equity flows story was all about emerging markets and, more to the point,
Mixed Signals From Xi’s Struggling Economy
There was good news and bad news for the Chinese economy on Friday. Let’s start
‘Everybody’s An Economic Populist Now’
I don’t want to dwell too much on hypothetical US election outcomes given the myriad
The End Of Yahya Sinwar
Three years ago, following nearly two weeks of intense clashes between Hamas and the IDF,
Spend It If You Got It!
Surprise! Americans are still spending. Or at least they were last month. A key underlying
Better Safe Than Sorry: ECB Delivers Third Rate Cut
As expected, the ECB cut rates for a third time on Thursday. The move, 25bps,
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