Well that really did escalate quickly… Today had the feeling of ‘liquidation’ (similar to March) as big-tech stocks (growth/value rotation), bitcoin, bonds, and bullion were all dumped unceremoniously. While Nasdaq futs were bid along with everything else on Putin’s vaccine headlines overnight, it didn’t take long for the growth/value rotation pressure to kick in and send…

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US Producer prices were expected to rise MoM following four declines in the last five months and they did, rising 0.6% MoM (double the expected 0.3% MoM rise). However, this was not enough to unwind the annual deflationary print (PPI -0.4% YoY) Source: Bloomberg This is the biggest MoM jump in headline PPI since Oct 2018.…

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A fully financialized, totally debt and speculation-dependent economy is terminal once leverage and debt stop expanding exponentially. We all know the movie scene in which the character is wounded but dismisses it as no big deal, and then lurches into the closing sequence where we discover the wound was not inconsequential, it was mortal, and the…

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Bulls Charge To All-Time Highs As discussed previously in “Insanely Stupid,” we noted the market remained confined to its consolidation channel, but the bullish bias was to the upside. “While the market has not been able to push above the recent July highs, support is holding at the rising bullish trend line. With the short-term ‘buy signals’ back in…

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