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Joe Weisenthal Profile picture
@TheStalwart
Jun 10, 2021 • 8 tweets • 3 min read • Read on X
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HOT:

CPI (YOY) rises 5.0% vs. 4.7% expected.

Core CPI (YOY) up 3.8% vs. 3.5% expected.

S&P futures slipping a little on the news

bloomberg.com/news/articles/…
On a sequential basis, core CPI rose 0.7% from last month.
Five year yields ticking higher
What drove the change
Distribution of YOY changes across CPI components
Cars and other transport a huge driver of all this
Stocks turn higher thanks for playing
Full story from @readep on the CPI number bloomberg.com/news/articles/…

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More from @TheStalwart

Joe Weisenthal Profile picture
Jul 2
This is really good from @matt_levine on tokenization.

If we're totally cool with people trading equity in "private" companies, because it's on-chain, then eventually it seems possible that in the future we don't have IPOs or even standardized disclosure for any company at all. Image
Especially since for so many companies, the IPO is not so much a capital raising event, but rather a liquidity event. Why bother?
Link bloomberg.com/opinion/newsle…
Read 4 tweets
Joe Weisenthal Profile picture
Sep 6, 2024
NEW ODD LOTS

The Booming Crypto Use Case That's Happening Right Now

@tracyalloway and I talked to @CampbellJAustin, prof at Columbia biz school and financial markets veteran, about the rise of stablecoins, and the genuine breakthrough that they represent bloomberg.com/news/articles/…
I'd say if there's ever been an episode that came close to convincing me and @tracyalloway that there's a genuine, non-speculative use for open blockchains (e.g. Ethereum, Solana etc.), this is it.
@tracyalloway Austin does a fantastic job explaining how the existing banking and payments system work, and how stablecoins augment it. And specifically, how they augment the existing system in a way that the existing system isn't capable of upgrading towards on its own without crypto.
Read 4 tweets
Joe Weisenthal Profile picture
Aug 6, 2024
SIX THOUGHTS ON THE AFTERMATH OF MONDAY'S BIG PLUNGE

In today's @markets newsletter, I wrote about where things stand now.

1) At least so far, things are much calmer than yesterday. Huge rally in Japan. The US rebound is fairly feeble. Meanwhile, "good news is good news" Image
2) We know the labor market is softening. But the question remains, can the Fed still get ahead of it? Image
3) Fed pricing looks much more normal today
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Read 7 tweets
Joe Weisenthal Profile picture
Aug 5, 2024
10 THOUGHTS ON TODAY'S BIG MARKET SELOFF

In today's 5 Things newsletter, I jotted down a bunch of random stuff about this moment in stocks, crypto, FX, and macro.

Here they are

1) It was clear instantly on Wednesday that Powell was going to be offsides this market: Image
2) To some extent, I think the way Powell was talking about "normalization" of the labor market didn't make any sense, almost regardless of what's going on with the economy right now. Image
3) Regardless of whether you think the Fed has made a mistake or not, the Fed is now clearly offsides. Remember on Wednesday Powell was still talking about the possibility of no cuts at all coming soon. Image
Read 12 tweets
Joe Weisenthal Profile picture
Aug 2, 2024
BREAKING:

BIG MISS ON UNEMPLOYMENT. UNEMPLOYMENT RISES TO 4.3%

JUST 114K NEW JOBS

Economists had expected 175K jobs and an unemployment rate of 4.1%.

bloomberg.com/news/live-blog…
S&P 500 futures now down 1.6% Image
Last two months revised downward by 29K

Average hourly earnings grow just 0.2%

U6 Underemployment rises to 7.8% from 7.4%

Average Weekly Hours falls to 34.2
Read 9 tweets
Joe Weisenthal Profile picture
Jul 1, 2024
TRANSCRIPT: The full text of me and @tracyalloway's chat with @dsquareddigest about how the world lost its mind.

The concept of Accountability Sinks is so powerful, once you start noticing them.

Here's an example that lead to the murder of 400 squirrels bloomberg.com/news/articles/…



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This is also extremely interesting how as organizations become more complex, it's almost inevitable that top management will have to rely more on financial information to understand what's going on, which is partly how you get situations like Boeing


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Also really intrigued by his assertion that from a perspective of "corporate short-termism" that the explosion of private sector debt (in part driven by LBOs) is a greater contributor than the stock price.


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Read 4 tweets

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