Macro Update: The Balance of Risks Has Shifted!

I'll be out of town this weekend, so I'm crunching the essential weekend tasks into today's things to do. Thus, I'll keep this week's macro note brief and to the point.

Morning Note: Read Carefully

This morning's jobs number surprised bigly to the upside. Uh oh!!

I'll explain "Uh oh!!" in a sec...

Morning Note: Separating Signals from Noise

Recall from yesterday:

This Week's Message: What's Up With Gold? -- And -- Highlights From the Week Past

If you've been watching the price of gold lately, you might be wondering what's up, or why it’s down?

Allow me to answer with one simple 5-year chart.

Morning Note: We Can Only Hope "This Time is Different"

You gotta love Wall Street! BofA analyst Stephen Suttmeier is out with a note stating that the buying of stocks with borrowed money (margin debt), while it's at an all time nominal high, is not excessive -- when you look at it compared to the total nominal value of the stock market.

Morning Note: Irony, Inflation, and What We're Really Modeling

So, the irony in the financial world today -- it's so thick, as they say, you can cut it with a knife.

Morning Note: Carts Before Horses -- And -- Chimps Before Traders

If this morning's bounce is any indication, there's yet more oomph to be had in the equity markets on news that simply confirms what we already know -- that fresh new money's to be delivered to the economy, by the proverbial truckload.