“Bubbles go to unimaginable extremes, and then double (quadruple for this cycle).” “Call a Bubble’s demise at your own peril.” Maxims [...]

“At the Trump Rally, It Was Evening Sun, Songs and Blue Sky. Then Came Bullets, Screams and Blood.” “Biden, Trump Call for Unity in Aftermath of Trump [...]

Aged. Unhealthy and deeply unsound. Worryingly unstable. Many voice serious concerns in private, with only a few willing to publicly broach the subject. But [...]

The CBB will be back to “normal” next Friday. Two-year Treasury yields dropped 14 bps this week, to the low (4.60%) since March 27th. Ten-year yields fell [...]

For the Week: The S&P500 (up 14.5% y-t-d) and the Dow (up 3.8%) were little changed. The Utilities fell 1.3% (up 8.2%). The Banks rallied 2.5% (up 8.8%), [...]

Let’s get started with domestic. Ten-year Treasury yields traded this week at the lowest level since March. Markets have taken this as confirmation of [...]

Ominous. Global risk off is gathering momentum, and there’s now a clear and present potential de-risking/deleveraging catalyst. The NASDAQ100 gained 3.5% to [...]

It was another important week – and I’m not referring to Nvidia’s market cap surpassing Apple’s to reach $3.0 TN (or Roaring Kitty’s podcast touting [...]

It was an eventful week worthy of some dissection. Markets for the most part corroborated the “higher for longer” and rising global yields thesis. Ample [...]

May 24 – Bloomberg (David Ingles): “Nvidia’s 110% gain this year is enough to slingshot the company’s value above the entire market capitalization of [...]

An audience question during the annual meeting of the Foreign Bankers’ Association of Amsterdam, May 14, 2024: “Do you entertain the possibility that [...]

A week after Chair Powell encouraged the markets to keep running, run they did. The KBW Bank Index jumped 2.7% this week, the DJIA 2.2%, the S&P400 Midcaps [...]