‘What To Talk About’
High-stakes negotiations between the world’s two superpowers in Switzerland. Big league drama. Serious faces. Solemn
Captain Capricious And The Taiwan Canary
This week’s Treasury refunding auctions garnered a lot of attention for obvious reasons. The macro-market
Straw Men Versus Barbie Dolls
Donald Trump stumbled into another meme last week when, during a cabinet meeting, he played
Love, Fear And Respect
Calogero: “Is it better to be loved or feared?” Sonny: “That’s a good question. It’s
Waiting On The Robots
It’s important to preface this brief update (500 words counts as “brief” ’round these parts)
Taiwan As The Blueprint
It’d be a mistake, I think, to write off what happened with the Taiwan dollar
Neon Swan: What Just Happened In Taiwan?
If a six-standard-deviation event’s a black swan, what’s a 20-sigma-event? What color swan is that?
US Services Sector Holds Up. But The Storm’s Comin’
Good news, bad news. Which do you want first? I’ll break with precedent and start
A Long Week For Jay Powell
This’ll be a long week for Jerome Powell. The Fed convenes Tuesday and Wednesday, and
Buffett, 94 With $350 Billion In Cash, Holds Court
Warren Buffett’s still alive. That was one takeaway from Berkshire’s annual meeting, where a 94-year-old,
Miracle Man
Congratulations to Donald Trump: Headed into the US afternoon on Friday, he was set to
Is The US Outflow Narrative Overdone?
They were still selling US equities over the last week. And they were still buying
Jobs Report Comes Up Roses In Boon To Trump
If you were expecting something dramatic — something exciting — from Friday’s US jobs report,
Amazon, Apple Underwhelm As Questions Outnumber Answers
Amazon, which was in the news this week for kissing Donald Trump’s ass, rang up
The Machines Should Be Buying Stocks From Here
I’ve been on at some length since “Liberation Day” about the extent to which the
Dumb and Dumber
Scott Bessent says the Fed needs to cut rates. He’d know. He and a “Tariff
American Manufacturers Unconvinced Tariffs Good For Business
Could’ve been worse. That’s how I’d describe Thursday’s update on the marquee gauge of US
You’re Fired
The good news is, US job cut announcements plunged in April. The bad news is,
Microsoft, Meta Beat Estimates As Big-Tech Sturdy
Microsoft results can be a tough cover. A lot depends on what Amy Hood says
Stagflation-Lite Is Here
The US economy shrank during the first three months of America’s new “golden age.” And
Contract Signings Surge In Mercurial US Housing Market
They’re buying houses all of a sudden! Or at least signing contracts to buy houses.
Things Were Going Well. Then Along Came Tariff Man.
On the bright side — there’s something you don’t hear too often these days —
Sooner Or Later, Trump’s Going To Commandeer The Fed
It’s tempting to ignore Donald Trump’s nonsensical ramblings — “malarkey,” to channel a certain senior
Capital Flows To US Assets Dry Up Amid Policy Chaos
Hard stop. That’s what we’re looking at in terms of foreign investor flows to US
Amazon Can’t Tell Americans The Truth About Tariffs, White House Says
You’re not allowed to tell Americans the truth about tariffs. That was Karoline Leavitt’s implicit
Consumer Confidence Collapses As American Households Despair
There’s no other way to look at this first 100 days other than a huge
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