Well Hello, Liz!
The mid-week selloff at the long-end of the US Treasury curve was exactly what Scott
‘The Most Impressive Plane’
It may not always seem like it, but I try to be generous editorially, really
‘The Single Most Important’ De-Dollarization Canary
The writing’s on the wall. You just have to be able to read Japanese. If
No Respite From The ‘Sell America’ Trade
The “sell America” trade (or narrative or whatever you want to call it) is bleeding
A Bluff You Don’t Call
Moral qualms and related misgivings aside, you gotta hand it to Israel. They’ve proven, and
Garlic, Vampires And The Strongman
Re-industrialization. It’s a hot topic. In fact, if you scan earnings call transcripts, you discover
US Home Prices Just… Fell?
Don’t look now, but US home prices just fell. I realize that might elicit some
The Term Premium Sends A Warning
It’s time for a term premium check. Why? Well, mostly because it’s a random, somnolent
Bad Vibes, Impending Gloom
A couple of days ago, in “Anomaly,” I noted that the so-called “vibecession” which defined
Whither The Mag7?
There’s never been a better time to buy the Magnificent 7. I don’t necessarily believe
Fearing The Right-Tail
If you’re wondering whether the bounce in US equities which had the S&P trading within
‘Destroying Everything That’s Left’
Israel’s in the process of taking over Gaza entirely, Benjamin Netanyahu indicated on Monday, as
Man Of Destiny
One obvious read-across from the US-China trade “truce” is less urgency in Beijing to implement
Pay Up, Scott
Pay up. That was the message from the bond market on Monday, when long-end US
Where’s The Next Bull Market?
Opinions vary on whether mercurial US trade policy and a de facto abrogation of America’s
Capitol Punishment
Let’s dispense with a few obvious points up front. From a pseudo-philosophical perspective, it doesn’t
Is Trump Inviting Capital Flight? The Debate Continues
The flows rotation out of US shares and into RoW equities paused over the last
Is The Fed Ignoring An Inflation Expectations Crisis?
It’s a good thing 2025 Jerome Powell doesn’t put any more weight on the University
Just When You Thought Americans Couldn’t Get More Depressed…
Gosh. It was worse than I expected. Considerably worse, actually. Last weekend, while previewing this
Wa-a-a-ait, Mr. Postman!
Water, water everywhere, nor any drop to drink. To let Donald Trump tell it, the
America Has A Problem. And The Only Solution Is Dollar Weakness
America has a problem. A lot of them, actually. Don’t get me started. We’ll be
Homebuilder Sentiment Crashes Anew As Tariffs, Lackluster Spring Weigh
Yuck. That’s one word to describe Thursday’s update on US homebuilder sentiment. I suppose no
A Wholesale Decline
If you were looking for more good news — however fleeting it might prove —
Key Retail Sales Metric Slips As Walmart Warns On Price Hikes
US retail sales came up short where it counted on a day when Walmart warned
Not Out Of The Woods
The 2025 bear market plunge in US equities will be remembered as one the most
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