The Paradoxical Legacy Of 2023’s US Banking Crisis
Was America’s regional banking crisis a tempest in a teapot? (And yes, the Jamie Dimon
Biden May Escalate China Tech War With Updated Chip Ban
To the extent corporations are inclined to pretend there’s something ambiguous about the Biden administration’s
Powell Regales Sintra
Jerome Powell regaled the ECB’s annual central banking conference in Sintra on Wednesday. His remarks
Rationalizing The Unreal
“Equities are detached!” laments are admittedly tired, usually clichéd and rarely useful. The problem with
Was ‘General Armageddon’ In On Russian Mutiny?
“General Armageddon” might’ve been invited to Yevgeny Prigozhin’s mutiny. According to US intelligence, Sergei Surovikin,
Stocks Need A ‘Soft No Landing’
Vladimir Putin’s grip on Russia may be loosening, but the US labor market isn’t. Or
A Quick Word On Prigozhin’s ‘Accidental Coup’
This time last year, geopolitical observers were beginning to question their assumptions about an inevitable
New US Home Sales Skyrocket Amid Acute Resale Property Shortage
New US home sales exploded higher in May, underscoring the bifurcated character of America’s hopelessly
Markets Increasingly Disconnected From Macro On Soft Landing Odds
Equities are increasingly priced for a soft landing. You can look at that one of
US Home Prices See ‘Broad-Based’ Rebound In Potential Problem For Fed
US home prices rose more than expected on a monthly basis at the beginning of
The Straightforward Case For A Modest Selloff On Wall Street
The best argument for a pullback on Wall Street may be the simplest: There hasn’t
Dorothy And The Frankenstein Cycle
“Toto, I’ve a feeling we’re not in Kansas anymore,” said macro watcher after macro watcher in
Mike Wilson Will Make Bears Of You Yet
There’s a “vigorous debate” going on right now around the outlook for equities, and particularly
Checking The Taiwan Barometer
When it comes to global growth canaries, you could do worse than Asian exports and
Hard Landing, Loose Nukes
Hard landing odds are going up again. That was the narrative early Monday. It’s hard
Kolanovic, JPMorgan See Stormy Seas For Frothy Equity Market
Rally skeptics abound as the second half of what already counts as another extraordinary year
Have We Seen The Merciful Last Of Front-End Rates Fireworks?
If you’re looking for a good news story told from a broad, societal perspective, I’m
Another Week In A Broken System
“Some” indicators of inflation are “clearly coming down,” one rates strategist told Bloomberg Television last
Fortune And Glory
US equities are expensive, and the “Magnificent 7” even more so. Those observations are hopelessly
Criminal Adventures
If you’re going to stage a military coup, you generally need military buy-in. Ideally, you
Did Bulls Just Lose Their Best Friend?
Positioning isn’t necessarily your friend anymore if you’re a bull. Equities benefited immensely in May
Fed Fails To Cool US Services Sector, Risking Prolonged Inflation Battle
US manufacturing is beset, but services activity across the world’s largest economy is resilient. What
Investors Ditch Tech, Flee US Stock Funds As Euphoria Wanes
If flows are a proxy for enthusiasm, excitement around 2023’s tech-driven equity rally waned over
European Economy On Brink Of Contraction. Again.
The European economy is stagnating. Again. Preliminary PMIs for June, released on Friday, showed activity
Money Market Outflows Accelerate, But Interpretation Difficult
Cash left money market funds for a second consecutive week in an ostensibly notable development
If Only We’d Kept A Pet Monetarist
We should’ve left at least one seat at the table for the monetarists. If we
What 2023’s Dot-Com-Style Breadth Collapse Means For Drawdown Risk
2023’s US equity rally is narrow. That’s an understatement. And it’s not news. Quite a
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