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Daily Market

Hormuz Is Choking. Somehow, the Oil Keeps Moving.

Hormuz traffic has plunged, but oil continues moving through alternative routes. Understanding those routes explains why gasoline prices haven’t exploded even higher.
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Daily Market

Stocks at Record Highs. Consumers Are Tapping Out.

Stocks are near record highs, but weakening retail sales and rising inflation expectations have put the Fed in an increasingly uncomfortable policy bind.
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Daily Market

The S&P 500 Is at a Record High. The Bond Market Isn’t Celebrating

Stocks are betting on normalization. Bonds are betting on persistent inflation and higher rates. One of these markets may be looking further ahead.
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Daily Market

The Water’s Fine—Just Know What’s Swimming Beneath You

Markets are near record highs and earnings remain strong, but two important accounting sharks are lurking beneath an otherwise healthy bull-market story.
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Daily Market

Japan’s Currency Intervention Bought Time–Not a Cure

The U.S.-Japan yen intervention delivered immediate relief, but half the gains are already gone. The yield gap–and the carry trade–remain the real story.
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Daily Market

The Fed Says It’s Data Dependent. Which Data?

Official CPI may tell us where inflation was. Real-time price trackers and market indicators may tell us where inflation is heading next.
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Daily Market

The Fed's Inflation Problem Just Got More Complicated

The unemployment rate grabbed headlines, but wages, payroll revisions, and underemployment tell a much different story about the economy and the Fed.
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Daily Market

Empty Wallet: Big Tech’s AI Spending Pushes Cash Flow to the Brink

Cash is flowing out of Big Tech faster than ever as AI investment accelerates. Backlogs and promises must now carry the weight cash once did.
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Daily Market

Why the Term Premium Suddenly Matters Again

The bond market isn't broken–it's simply charging for uncertainty again.
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Daily Market

Why the Jobs Market May Look Stronger Than It Really Is

Discover why demographics and labor force participation are changing how investors should interpret unemployment.
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