Hints and tips:
...But, he said, “we’re bumping up against that” level....
...But if I need to give my dopamine levels a boost, I turn to my collection of Japanese lifestyle magazines, my Popeyes and my Casa Brutuses....
...level of ratings, but by the change in ratings....
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...As Wachowiak et al correctly note, the recent pressures militating in favour of greater cooperation (Ukraine, a second Trump presidency, fiscal constraints), “have not, to date, proven sufficient to overcome...
...levels last seen in August 2022 before the collapse of FTX....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al? I mean, shouldn’t that weigh against this rally? What about that? Katie MartinMaybe yes....
...They would deliver increasingly ambitious plans to cut their greenhouse gases enough to hold the rise in the global average temperature to well below 2C, and ideally just 1.5C, from pre-industrial levels...
...As Isabella Weber et al have written, energy is along with food one of the most “systemic” components of inflation....
...A classic doom loop, in other words. But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...So we’re making incredible progress. At the lab level, there are amazing technologies. Now, getting them out [to market] . . . there’s still a big challenge....
...and inflation go hand in hand Bouchaud et al. find that when people trust an “active” central bank, reining in inflation is the outcome of trust, not interest rates....
...Given how volatile the data was during Covid-19, Williams et al suspended their estimates until May....
...me in 2018, since when their glorious Garnachas have risen to Spanish royalty, alongside Vega Sicilia et al....
...That the Fed’s rate increases precipitated a banking crisis before they got inflation down to even vaguely near their target looks like a good example of what Akinci et al were arguing last year....
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...Here’s Citi’s Andrew Coombs et al. then: For the European banks, we see less risk of deposit flight and believe they have more liquid balance sheets....
...As a reason for optimism, Goldman cites a 2022 study by economist David Autor et al that found “60 per cent of workers today are employed in occupations that did not exist in 1940, implying that over 85...
...… of, for example, response rates in the Labour Force Survey have fallen to the levels that they have, how reliable is that and how much we can be certain about what we’re picking up from there is, in fact...
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...And they’re gonna be cautious about their identities being known, about being quoted on the record, et cetera, et cetera. So who do we speak to? We speak to people who watch the market....
...Barrero et al have been running a survey of working-age Americans since May of 2020, targeting those with a history of paid work....
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