Profits And Prophecies
With 90% of market cap reporting, earnings season in the US is over for all
With 90% of market cap reporting, earnings season in the US is over for all
The consensus narrative around the latest vintage of the Fed’s senior loan officer survey is
Buybacks will likely fall 15% in 2023. That’s according to Goldman, whose Ryan Hammond and
SocGen’s Albert Edwards is passionate about “Greedflation” or, more to the point, about highlighting the
It’s been “short vol manna from heaven” lately, Nomura’s Charlie McElligott said Tuesday. This is
Wall Street’s most famous bear still isn’t buying it. Figuratively or, one assumes, literally. “At
Traders will drown in big data this week. Not the kind ChatGPT leverages to churn
“Recession is a key downside risk,” Goldman’s David Kostin mused, in his latest note. It’s
Where’s the demand supposed to come from? From a stylized perspective, stocks are subject to
The market is “dominated by option sellers.” That’s according to JPMorgan analysts led by Marko
“Markets often bottom before the end of a recession, but not before the beginning of
Too many investors are missing a very simple, but very important, dynamic at the heart
The data calendar in the US is relatively sparse in the new week, which could
I’ve spent a lot of time over the last four weeks discussing the psychological side
The US added slightly more jobs than expected in March, and the unemployment rate moved
For much of the last year, company analysts were derided (sometimes mercilessly, and by their
A pre-FOMC limbo found investors biding time. It didn’t feel like a “crisis” day. Indeed,
“The risk of a credit crunch has increased materially, in our view,” Morgan Stanley’s Mike
“The real story for equity markets is the impact of the Fed’s actions over the
If those calling for recession in the US economy are correct, it’s likely that high
Never has the risk of downside earnings surprises from corporate America been greater. Or at
Headed into this year, a generic narrative about bullish equity sentiment went something like this.
Notwithstanding tentative signs of exhaustion over the past two weeks, the story of 2023 in
Over the past week, quite a bit of digital ink was spilled editorializing around the
Nobody would blame you for suggesting market sentiment outran the fundamentals during the opening weeks
It won’t surprise anyone to learn that stocks have been more macro-driven than average over
I have an affinity for tragicomedy. Probably because my own life blends elements of the
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