Putin, Xi Show America How To Deal With Trump
Donald Trump talked to Xi Jinping on Thursday. Nothing much came of it. China was
Slower Hiring And Layoff Notices: Welcome To The Golden Age!
Death by a thousand second-tier macro reports. On the heels of a very poor ISM
ECB Declares Inflation Victory, Cuts Eighth Time
The ECB all but declared victory over inflation on Thursday, when Christine Lagarde — who
Bonds, CPI Collection And Columbia
The good news about bad data is that if it’s bad enough, it can spell
$2.4 Trillion In Red Ink. And For What?
Donald Trump’s “big, beautiful bill” has a PR problem. Specifically, some Republicans — both on
New Orders Plummet, Price Pressures Build In US Services
Another swing, another miss. June 4, 2025, will go down as a session during which
US Home Sellers Outnumber Buyers By Record Half-Million
If you make $100,000 or more, can scrape together a respectable downpayment and your credit
Private Hiring Slows To Crawl In America Amid Tariff Chaos
Did the US labor market just turn? Is the recession here? Should you board up
Will Scott Bessent Have To Cut The Coupons?
I wouldn’t describe it as “consensus,” or not yet anyway, but calls for Scott Bessent
Trump’s ‘Revenge Tax’ Is A Duck
John Thune needs to think long and hard about whether Senate Republicans want to line
US Job Openings, Hires Rise Despite Macro Angst
There were 7.391 million job openings across the world’s largest economy on the last business
Tariff Man Crashes Global Growth Forecasts
The OECD doesn’t love Donald Trump’s tariffs. “[T]oday’s policy uncertainty is weakening trade and investment,
Why One Bank Expects The Dollar Bear Market To Deepen
The dollar’s headed lower, particularly against other havens, including the yen, franc and euro. That’s
Is Corporate America A Safer Bet Than The US Government?
This should go without saying, but US equities still aren’t cheap. I don’t know why
When All Other Plunge Protection Fails…
Listen, if Scott Bessent can’t find anyone to buy America’s debt, he can just cajole
‘Raising Hell’
The first of this week’s top-tier US macro data was underwhelming, at best. No one
Move Fast And Break The Bonds
New week, same concerns. The bear steepener was back in the Treasury curve, the dollar
Labor Market Linchpin
It’s the first week of the month and you know what that means: A full data
Trading The Tariff Range
In addition to top-tier US macro data, traders will be compelled to grapple in the
Imagined Pasts
Legend has it Whenever I venture out into the hollow, cold paradox of a constantly-connected
Capital Wars Are Here
Foreign investors didn’t need another reason to be skeptical of US assets. Militant mercantilism, policy
Game Of Chicken (The Trump Collar Explained)
Legendary fast food connoisseur Donald Trump doesn’t like the “TACO”s. A fixture of Trump’s tariff
Americans Remain Deeply Depressed Despite Tariff Pause
Good news. Or maybe I should say news that’s less bad. The final word on
TACO Stall
The world’s two largest economies might’ve made “great progress,” as Donald Trump put it, towards
Four Years Later, Fed Finds Price Stability
As expected, the Fed’s preferred measure of inflation was benign in data released on Friday.
Do Foreign Investors Really Have ‘Too Much’ US Exposure?
There’s still no consensus on whether and to what extent Donald Trump’s policies — from
At The President’s Invitation
“Donnie, I got sent for.” On Thursday, the Fed casually announced that Jerome Powell was
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