Browsing Category

Daily

Melting Up?

Tesla On Thursday, I wrote that "Tesla has been forced to pony up for those converts. They now have $2.2 billion, $1.5 billion less than at the end of the last quarter. I think the need for more capital is a question of when, not if. But if…

The huge beat in US GDP growth

This is going to be real quick. The Q1 GDP numbers came out. And they were a huge beat, showing 3.2% annualized growth versus an expected 2.0%. Even the bullish Atlanta Fed nowcast undershot this at 2.7%. If you look at how the quarter…

Re-acceleration, but for how long?

After the Fed overtightened in 2018, it reversed course abruptly. And risk assets have cheered the Fed's volte face with a V-shaped surge to new highs. And, coincidentally (since Fed policy acts with a lag), the economic data have turned up…

The Best of Times

Yesterday, in the US, the S&P 500 and the Nasdaq indices hit record highs. And the Dow Jones Industrial Average is not far behind. Financial markets are doing well. In the real economy, for weeks now I have suggested that the signs of…

The strong dollar and Chinese reform

I have an interview on Real Vision with currency specialist Marc Chandler of Bannockburn Global Forex coming up later today. And I wanted to sort out some of my macro thinking ahead of it. Let me run by you what I'm seeing in the markets…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More