IPOs, a global rebound and Tariff Man

The IPO market is hot As I wrote last night, IPO conditions right now seem nearly ideal for growth companies to come to market. The appetite for loss-making companies shows us that public investors are willing to overlook losses as long as…

2019 may be the best time to IPO

Growth matters, profits don't Nearly 7,000 scooters appeared to be active in Los Angeles County in January, having logged a ride in the previous two weeks. By April, more than 5,500 of those same scooters appeared to be removed from active…

Brief thoughts on the jobs report

Today's jobs report in the US showed some fairly bullish headline numbers. Not only did the unemployment rate did to a 49-year low of 3.6%, but the monster 263,000 job addition was bolstered by net revisions of 16,000, bringing the total to…

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…

Hippie-punching MMT

I have been trying to organize a decent exchange on MMT on the new financial media platform Real Vision. My first attempt got dropped because the conversation wasn't forward looking, diving into the issues people care about, namely the…

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