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My view on what's going on in the financial markets and the global economy, and a few other things that might interest me from time to time.

Week ended March 22, 2023: It's an "everything rally" (nearly)

It was an "everything rally" last week, with several equity markets touching record highs. US Treasuries also rallied. Thanks central banks

tim@emorningcoffee.com

Mar 22, 20246 min read

Hotter-than-expected US inflation data clobbered the bond market, and after digestion, also rattled US equities. Credit was better (again).

tim@emorningcoffee.com

Mar 15, 20245 min read

The Fed breaks ranks for some reason and suggests a nearer-than-expected pivot which sent stocks and bonds soaring.

tim@emorningcoffee.com

Dec 16, 20237 min read

It was a week of mixed economic news in the US, with a strong labor market clobbering the short end of the UST curve. Equities didn't care.

tim@emorningcoffee.com

Dec 9, 20236 min read

Stocks and bonds were on fire this week, a rare occurrence recently. "Bad news is good news" resonated as data showed a slowing US economy

tim@emorningcoffee.com

Nov 4, 20236 min read

The central bank trifecta this week unfolded largely as expected. US bonds and equities puked on the Fed's "higher for longer".

tim@emorningcoffee.com

Sep 23, 20236 min read

The ARM IPO (fair price), the ECB rate decision ("dovish increase") and US CPI are were relatively neutral to supportive this week.

tim@emorningcoffee.com

Sep 16, 20234 min read

Fed pauses, ECB races ahead, BoJ stays loose; BoE poised to raise rates again this week. Dollar slumps, global equities power ahead,

tim@emorningcoffee.com

Jun 18, 20237 min read

Markets were not overly inspiring this week even as volatility continued to decline. Japanese and small-cap US stocks were the big winners.

tim@emorningcoffee.com

Jun 10, 20235 min read

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