"The risk/reward in consumer discretionary is beginning to shift..." 

Hysteresis describes a concept in which the present state of a system depends not only on current conditions, but on the path the system has taken to get there...

"Appears bulky and more akin to Apple's Vision Pro glasses..." 

 

Clinton now says his decision to seek re-election was a "terrible mistake"...

Can the security architecture hold long enough for any money to matter?

...markets that have been used to the Fed’s hand-holding will have no choice but to seek a higher uncertainty premium by pushing up volatility pricing.

...lowest absolute level since Oct 2014 and lowest for time of year since 2005...

The decision will be boring; the statement will get exciting, and Warsh's press conference could lead to fireworks. 

It’s either a giant TACO that markets look past the full implications of to embrace; or a can-kick until the midterms (after which what?)...

"...an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal..."

The department seeks a court order to prevent what it called the 'siphoning of funds from the federal coffers'...

The world's most crowded trade is getting more crowded. Almost nobody thinks it's a bubble.

"The Republicans fell into a trap..."

Historically, this has marked the final stages of a rally...

JPMorgan analyst Jose Asumendi called the downgrade a major "wake-up call for the auto industry" ... 

...and it's not because of gas prices.

“Warsh faces a formidable challenge, striking a balance between President Trump’s desire for lower rates and signalling to the market that he is a credible and independent Fed chair. Inflationary pressures in the US are unlikely to abate quickly."

EEM isn't an EM ETF anymore. It's an Asian AI ETF. TSMC, Samsung and SK Hynix make up ~30% of the index. VXEEM increasingly behaves like Korea, not emerging markets.