Today's topics include banks' profitability, a broader rally?, commercial real estate, risks to the soft landing narrative, housing still out of reach for first-time buyers, labor market slack, U.S. natural gas inventories, and Nasdaq pulls plug on crypto plans... Read More
Today's topics include investors party like it's 2021, Americans keep spending for now, look for consumption changes, Euro Area inflation is starting to feel sticky, moving out on the curve, housing market tight supply, banks balance margins & keeping depositors, all eyes on the distressed debt pile in the US, a quiet recession in China?, and big earners are most resistant to going back into the office... Read More
Today's topics include Jim discusses the base effect on Fox Business, BofA survey indicates revived soft landing hopes, looking for a loan? good luck, El-Erian says inflation about more than just wages, holding long maturity assets, Yellen discusses labor market, forking over interest to depositors, funds hit holdings ceiling for most concentrated stocks, and embracing remote work... Read More
Today's topics include peak rates trade comes into focus, what is driving markets higher?, home equity lines of credit becoming more prevalent, checking on the credit cycle, renters are bearing the brunt of inflation pain, wages & inflation, trouble for the Chinese economy, and more pessimism on the dollar... Read More
Today's topics include a good explanation of why no one knows what comes next, global stock rally, UPS strike costs add up, past "peak globalization", a dovish PBOC, some believe the inflation fight is over, some don't, some aren't sure, excess savings, looking ahead for commerical real estate, and avoiding US Dollar long positions... Read More
Today's topics include the S&P 500's return since the start of the Fed's hiking campaign, assessing the inflation fight, checking on junk bond market, Howard Marks says watch for market cycles, watching bank earnings for net interest margins, betting against the dollar, how big is too big?, less inverted yield curve, and the impact of remote work ... Read More
Today's topics include fighting the last war, a retort to Barr's bank capital comments, Nasdaq special rebalancing reduces big tech weight, alternative methods of measuring inflation, checking back on the BoJ's yield curve control policy, beware of the meme stock return, how tight are financial conditions really?, cashing out of US equities, and who gets to work from home? ... Read More
Today's topics include previewing tomorrow's inflation report, the seven names that drive the market, getting back to 2% target, used car prices fall, NY Fed's Williams says no recession, bankruptcies on the rise, the cost of New York luxury, offices saw less activity around the July 4th holiday, and who should worry the most about losing their job to AI?... Read More
Today's topics include QT's effect on RRP, banks' loan losses, does tech's dominance have further to run?, stocks climb a wall of worry, China close to deflationary territory, some perspective on rising debt servicing costs, keeping an eye on real yields, remember Austria's century bonds?, and FedNow... Read More
Today's topics include a bond market breakout, how do interest rates cool inflation?, on Fednow, Americans working fewer hours, the rise of private credit, US still attracting foreign investment, and the global travel boom... Read More
Today's topics include previewing tomorrow?s payrolls report, RRP usage falls to lowest level since May 2022, rising rates aren't always good for banks, greedflation gives way to wageflation, the case against further rate hikes, U.S. vs. European inflation, New Yorkers forego the mortgage, and social unrest & stock returns... Read More
Today's topics include persistent inflation, estimating the neutral level of rates, central banks begin to diverge, overestimating job growth?, rising rates & stocks, rising rates & maturing corporate debt, Dudley on deposit insurance, the cost of storing crude oil, and betting on the Pound... Read More
Today's topics include the rally that surprised everyone, looking at a 4 handle, PIMCO with a 'hard landing' call, emerging market economies defy expectations, ditching dividend mainstays for the AI boom, caution on bank stress tests, a quiet recession in China, economic & personal health, crude traders betting on lower prices, and student loan payments resume in September after three years... Read More
Today's topics include checking in on the Fed's repo facility, yesterday's big move in Treasuries & the yield curve, governments tackle corporate profit margins, stress tests & bank failures, revisiting the 2% inflation target, German inflation jumps, China's economic struggles are dimming the future outlook, more on BofA's bet on bonds, the ECB staring down a double-edged sword, and more on the end of Libor.... Read More
Today's topics include Powell reiterates at least two more hikes this year, Dudley sees more bond pain ahead, BofA made a bad bet on bonds, the commodity supercycle vs. stocks, Russian gas flows, will housing keep recession at bay?, and inching closer to a spot Bitcoin ETF?... Read More
Today's topics include Timiraos conveys uncertainty at central banks, the never-ending recession debate, annual decline in home prices, is QE back?, gold as a hedge, almost a quarter of Americans still have mortgage under 3%, natural gas storage, goodbye Libor, making the case for a digital Euro, and crypto market depth... Read More
Today's topics include a note of caution from the Fed, the decline in productivity, stock market volatility, the fight against inflation is not over, U.S. stocks vs. foreign stocks, China back to censoring negative stories, and leveraged bitcoin futures ETF launches today... Read More
Today's topics include QE creating balance sheet issues in Germany, survey expects yield curve to remain inverted, the muted effects of central bank hikes, divergent central bank policy, Treasury issuance, gauging stock market sentiment, gasoline demand, trading the open vs. the close, and the latest on work from home... Read More
Today's topics include soaking up Treasury issuance, it's all about liquidity, the odds of recession, persistent inflation, tech stocks, the cost of living, and the FDIC accidently spilled the beans on SVB depositors... Read More
Today's topics include does the pace of a hiking cycle matter to inflation?, big retail trades on individual stocks, yield curve & recessions, checking in on housing, bill supply & liquidity in Treasuries, inflation impact on investing, BoE hikes, shorting stocks, can we see a small cap rally?, and filling empty city offices... Read More