The CNBC video below from one month ago, after the hotter CPI prints to start the year, is worth revisiting today. I particularly like the title CNBC chose to go with for the clip: "We don't need rate cuts to get risk assets to go higher, says Jefferies' David Zervos"...
Before tackling today's topic, I want to respond to the many readers who reached out after a technical glitch in our new publishing system accidently sent two old notes from 2020 to my entire distribution list last Friday. I was worried that this would annoy folks who...
I do not usually comment on market reactions to a single piece of data, but the ripfest in spoos after yesterday’s higher than expected 0.4% print in core CPI is worth a shout out. Prior to the release of market moving economic data, such as NFP or CPI, the dealer...
For over a year I have tried to convince clients, colleagues, and competitors that the colossal size of global central bank balance sheets has been deeply underappreciated by the macroeconomic forecasting community. The long-term stimulative effects from these balance...
Not a day goes by without some high-profile market pundit, C-suite executive, politician, or portfolio manager preaching about the grave fiscal risks that face the US. In fact, I would venture to guess that it’s a top 3 discussion point for anyone looking to scare up...
Not a day goes by without some high-profile market pundit, C-suite executive, politician, or portfolio manager preaching about the grave fiscal risks that face the US. In fact, I would venture to guess that it’s a top 3 discussion point for anyone looking to scare up a bit of doom within a public speech, newspaper […]
