The Bureau of Labor and Statistics released the September Consumer Price Index (CPI) today [DATA HERE]. The financial and business media call the continued rise of consumer inflation “unexpected,” however, the results are not a surprise to those who are not pretending…
“Horrible”… “Brutal”…”A Disaster for Democrats”: A Shocked Wall Street Reacts to Today’s CPI Nuclear Bomb…
For all the talk of the world being on the verge of nuclear war courtesy of the dementia patient in the White House, a real life financial nuke just went off at 8:30am when the BLS reported a shocking CPI print so unexpectedly hot ( a 2.9-sigma upside surprise to consensus), that even the bears were shocked. The result was… well, an absolute disaster doesn’t even begin to cut it…
Nowhere to Hide: The Fed-Induced Bubble in Stocks and Bonds Is Blowing Up; Even the Typical Safe Havens of Gold and T-Notes Are Losing Money…
The corrupt political backdrop for today’s unprecedented market quagmire feels like a hyperbolic trailer for a low-budget sci-fi thriller: The former president of the only remaining superpower in the world has been charged with “staggering” frauds against banks – the ones he just deregulated as president…
Bonds on Track for Worst Year Since ’49 with No End in Site…
Losses in government bonds at the highest level since 1920s…
‘Black’ Monday 2.0…
Well that escalated quickly…
Morgan Stanley Sees S&P Tumbling As Low As 3,400: “That’s Where Valuation and Technical Support Lie”…
In the latest Morgan Stanley Sunday Start note published over the weekend, which this time featured the bank’s chief US equity strategist, Michael Wilson (who after BofA’s Michael Hartnett, is easily the street’s second most bearish strategist), the bank’s strategist elevated his bearish view up another notch, writing that this bear market will not be over until one of two things happens: “either valuations fall to levels (14-15x) that discount the kind of earnings cuts we envision, or earnings estimates get cut.”…
Markets Wake Up to a Dicey Global Economy Outlook; Dow Plunges…
If you are long stocks, this is one of those mornings when you may be tempted to pull the covers over your head and take a mental health day away from financial news. As of 8:44 a.m. this morning, Dow futures were registering a plunge of 394 points; the big Wall Street bank stocks were […]
Oil Just Had Its Worst Run Since 2008…
Oil has entered a bear market as fears of an economic downturn mount. The fundamentals look much tighter than the swoon might suggest, but the supply and demand picture is also beginning to look more negative. The EIA report was exceptionally weak, showing a strong build in crude oil (+6.8 million barrels), gasoline (+3.2 million […]
More Bad News for Apple After Firm Set to Pull iPhones from Its German Stores…
The Culprit Behind Last Week’s Market Rout Emerges…
On Monday we reported that in a market overflowing with losers, one clear winner had emerged: passive investors in general, and Blackrock in particular, whose exchange-traded fund business attracted more than $25 billion in November inflows, a record monthly haul for the company. Recall that whereas last week EPFR reported that total stock funds suffered […]