We Built A ‘Doomsday Momentum Machine.’ Now It’s Blowing Up
During the vicious, tech-led selloff that wiped away a fleeting, post-FOMC bounce in US equities,
During the vicious, tech-led selloff that wiped away a fleeting, post-FOMC bounce in US equities,
“Facebook and PayPal seem to have reached valuations attractive to GARP investors and even some
For the second time in six weeks, officials in Beijing managed to engineer a rally
Market pricing for Fed hikes went into overdrive late last week, when tail hedges for
The PBoC stepped in to stanch profuse bleeding in the yuan Monday, after the currency
There was news Tuesday. Specifically, old news masquerading as new news. Or recurring themes. Or
It’s a good thing the yield curve doesn’t matter. If it did, we’d be in
Earlier this week, shares of Toll Brothers fell sharply amid a broad decline in homebuilders
US equities closed out a barn burner week with more gains. Media outlets variously attributed
Market participants need a narrative. We have to ascribe causality. It makes us feel more
Barring some manner of good news on the geopolitical front, it’ll be another challenging week
“How can this possibly end well?”, America’s largest bank wondered, in a new note. It
One of the most underappreciated contributors to recent market volatility is the apparent demise of
More pressure on the Fed to hike rates. That was the consensus takeaway from the
Hours after results from one of the first real-world studies of the Omicron variant’s capacity
“Are you a buyer of dips?”, an anchor asked a guest, during a painfully generic
Over the weekend, I noted that the marked spike in realized vol precipitated by last
Risk sentiment attempted to stabilize Monday following a grievous Friday rout on Wall Street, but
“We know quite well what we’re doing with the current policy, why we’re doing it
On Thursday afternoon, Bloomberg Television abruptly cut away from a press conference where Nancy Pelosi
Time and again over the past several years I’ve lamented the scope of government dysfunction
If you’re wondering what might stop the Fed from unveiling a taper over the next
Risk sentiment was mixed Tuesday as traders looked to the latest US CPI data for
I often talk about America’s multi-faceted culture war as a threat to democracy, but over
Valuations are too high. Something’s gotta give. That generic complaint, or some version of it,
It’s been 16 months since Stan Druckenmiller declared equities, broadly construed, uninvestable. To be fair,
The tail is still wagging the dog. I assume that’s obvious to those who understand
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