Stocks are cheapest since 2013, driven by Trump’s high-risk games with China and Powell.
Donald L. Luskin
2019 Outlook: Confidence Rots from the Head Down
Monday, December 31, 2018
Did Powell Just Cut a Deal?
Sunday, December 23, 2018
From firing threat Friday to denials Saturday, Trump may have solved his Powell problem.
It’s Not “Quantitative Tightening” – It’s Powell
Thursday, December 20, 2018
He’s gone rogue and lost the market’s confidence. One way or the other, he’s got to go.
On the December FOMC
Wednesday, December 19, 2018
The “not-dovish hike” is a scary echo of Yellen’s bull-headed lift-off error in 2015.
Death by China on the Way to Yes
Monday, December 17, 2018
China is surrendering because it is under pressure. It can hold together until a deal is done.
On the November Jobs Report
Friday, December 7, 2018
Powell says the labor market is “very strong.” Based on this report. It’s not even strong.
The Yield Curve: The World’s Worst Indicator, But…
Thursday, December 6, 2018
The good news: Powell may or may not listen to Trump. He does listen to the yield curve.
On the US/China Trade Breakthrough
Sunday, December 2, 2018
This is the all-clear signal. Both nations made concessions, both saved face.
Trump 1, Powell 0
Wednesday, November 28, 2018
Trump and Mr. Market have ganged up on our rookie chair. He recants his hawkish gaffe.
Recession Risk at Last?
Tuesday, November 20, 2018
Here we go again. China and oil trigger an earnings decline and credit-spread breakout.