Today's topics include there's always next year for the bond market, bear steepeners, monetary policy's supply-side effects, Yellen admits higher interest rates may persist, happy anniversary to the bull market, the housing market, and an eye on consumer stocks... Read More
Today's topics include some risk-reward context on the TLT trade, more on yesterday's inflation data, JPMorgan posts record net interest income, can higher yields do the Fed's dirty work?, market shrugs off rumors of Chinese stimulus, the economic freeze from higher rates, and poking some fun at Paul Krugman... Read More
Today's topics include Fed caught in 'damned if you do, damned if you don't' moment, curve trades, US debt & deficit, justifying 'higher for longer', muni bond funds are feeling higher rates, thoughts on high rates from the BoE, commodities & war, and NYC rents finally falling... Read More
Today's topics include Timiraos semi-officially calls off rate hikes for next few meetings?, banking net income, the Fed's summary of economic projections as a policy tool, in search of the neutral rate, treasury supply vs. term premia, rising interest rates post risk for unprofitable firms, and bank writeoffs... Read More
Today's topics include the worst U.S. bond rout on record, higher for longer, another look at China's exposure to the dollar, the IMF's biannual global stability report, small caps vs. large caps, is forward guidance dead?, the Fed's reverse repo facility, and quantifying the stock market's decline... Read More
Today's topics include the bond market in focus, Grantham continues to beat the bubble drum, visualizing 2023 worker strikes, looking at bank stocks, debt issuance, American labor market, and is anyone studying accounting anymore?... Read More
Today's topics include previewing tomorrow's payrolls release, distinguishing bull steepenings from bear steepenings, higher rates make recession more likely, quantifying bonds' fall, do deficits matter again?, rising issuance, and Bill Gross sees P/E ratios falling... Read More
Today's topics include updating the stock market's slide, volatility in the bond market, throwing in the towel on a soft landing?, keeping an eye on wages, the dollar as the world's reserve currency, crude oil's effect on the dollar & inflation, and who is left to buy MBS?.... Read More
Today's topics include the rise in yields, the return of the bond vigilante?, breaking down the stock market's slowdown, fixed income fund flows, betting on big tech, revisions to GDI account for Fed remittances and supply & demand in the jobs market... Read More
Today's topics include calling a US recession, expecting a crash in office properties, rising rates, are financial advisors losing luster with higher rates?, pandemic induced "experience" spending still driving consumers, inflation down but essentials still up, bankruptcies, and trading volatility... Read More
Today's topics include 5% 10s!, options expiration today, government shutdown worry, hedge fund leverage, powell emphasizes the importance of communication, more inflation concerns, fear in markets, oil prices close in on $100, japanese yields soar, are banks embracing WFH?... Read More
Today's topics include checking in on treasury returns, how much does China's slowdown factor into Fed policy?, quantifying the effects of a government shutdown, crude closing in on $100, manipulating stocks options?, an index for dispersion trading, small caps feeling the pinch of higher rates, the rising cost of owning a home, and a comical take on market messages... Read More
Today's topics include the effects of a potential government shutdown, when flows do not follow performance, updating the stock market's decline, more on household savings, a sign real yields are restrictive, companies feeling the pinch of higher rates, comparing China to Japan, and how Russia circumvents oil sanctions... Read More
Today's topics include Jamie Dimon on the funds rate, feeling the pinch of higher rates, the basis trade, dwindling savings, Moody's warns on a U.S. shutdown, 0DTE options, measuring gas prices as a percent of disposable income, and the reason for rising rates matters to tech stocks.... Read More
Today's topics include inflation going down but costs still high, private zombies, Ackman's bond short, beating a dead horse: back-to-office trend, stock bond correlation & diversification, $100 oil, more on the labor market, finding more growth in higher-for-longer environment, and risks that come with higher rates... Read More
Today's topics include the Fed hikes until something breaks, central banks paused rates hikes this week, checking in on the stock market, U.S. yields top currency-hedged Chinese yields, renting vs. buying, more color on the Treasury's liquidity buybacks, shipping rates, and the state of NFTs... Read More
Today's topics include The Fed's Summary of Economic Projections, is the market finally starting to get the 'higher for longer' message?, another FOMC-day selloff, understanding Fedspeak, debating neutral, checking in on money market funds, housing's rising costs, speculating on crude oil, and Tether lending... Read More
Today's topics include previewing today's FOMC meeting, where is the U.S. economy heading?, what drives oil prices?, housing starts by intent show more rentals coming, it's not just the single family that is priced out of homes, a stalling rally, UK inflation dips but oil rally is an issue, lower income levels feeling recessionary pain, productivity of labor, and peak China?... Read More
Today's topics include higher energy prices & central bank policy, OECD pushes back on idea of rate cuts, previewing the Fed's Summary of Economic Projections, Jim Reid thinks low inflation era is over, a puzzling jobs market, BIS warns on the basis trade, buybacks take a breather, and checking in on Russian crude oil shipments... Read More
Today's topics include two sides of the 'higher for longer' battle, a soft landing, rising energy prices, the carry trade, quantifying the auto workers' strike, comparing China's slowdown to Japan's in the 1990s, more on the quirk of measuring medical care costs, and don't sweat the bond maturity wall.... Read More