After a summer lull in markets, things are about to pick up next week. 2Q22 earnings season kicks off as well as the crucial June CPI Report on Wednesday July 13. Following that is the Fed Decision on Wednesday July…
Darden Restaurants (DRI) – owner of The Olive Tree – reported earnings Thursday before the market open. Blended comps of +11.7% were quite strong – especially on top of a strong quarter a year ago. But despite more than $300…
Last Thursday The Wall Street Journal’s Greg Ip wrote an excellent column in which he argued that the Fed’s “critical junctures” i.e. hard decisions are still ahead of it. For the most part it’s been relatively easy for Powell to…
The Fed changed its mind – and told The Wall Street Journal’s Fed reporter Nick Timiraos. They were going to raise 50 basis points but after considering last Friday’s hot CPI number they’ve decided to raise 75. They told Timiraos…
As you can see in the green line in the chart above from zerohedge, 7 rate hikes are now priced in through September. That works out to two 50 point hikes and one 75 point hike and would bring the…
As I write (3:15am PST), panic has enveloped financial markets around the world. Germany, England and France are all trading down ~2% and US Index Futures are down between 2.25% and 2.75%. In other words, everybody is going to be…
For many years, in its statement the Fed insisted that monetary policy was NOT on a preset course but would instead be data dependent. At the moment, however, monetary policy IS on a preset course. The Fed will raise 50…
Post Modernism in philosophy can best be defined as the rejection of an objective reality. The argument is that human thought is inherently subjective and there is no objective arbiter of truth. Therefore, there is only the clash of opinions….
In Wednesday morning’s blog, “Pay Attention To The Fed Minutes”, I wondered if Powell would blink or continue to hammer away at the necessity to tackle inflation. As far as I can tell, he stuck to his guns on the…
I think we all know by now that it’s all about The Fed. Ever since Powell pivoted hawkish on April 21 it’s been straight down for risk assets. Which brings me to the release of today’s Fed Minutes at 2pm…