Jonathan Levin

Thursday’s US data dump cheered financial markets up: Inflation fell from a month earlier and the “core” measure — which strips out food and energy — was softer than expected. Consumption data separately showed an economy firing on all cylinders: booming AI investment alongside free-spending consumers. Don’t expect these too-good-to-be-true Goldilocks optics to last very long.

Thursday’s U.S. data dump cheered financial markets up: Inflation fell from a month earlier and the “core” measure – which strips out food and energy – was softer than expected. Consumption data separately showed an economy firing on all cylinders: booming AI investment alongside free-spending consumers. Don’t expect these too-good-to-be-true Goldilocks optics to last very long.

Treasury Secretary Scott Bessent characterized US support for Friday’s yen intervention as a sign that President Donald Trump’s government “delivers for America’s trusted partners.” Perhaps. The more plausible reading? The administration is growing increasingly uneasy with its own climbing borrowing costs and wants to avoid forced selling of Treasury securities by their biggest overseas holder.

Treasury Secretary Scott Bessent characterized U.S. support for Friday's yen intervention as a sign that President Donald Trump's government “delivers for America's trusted partners.” Perhaps.

Treasury Secretary Scott Bessent characterized U.S. support for Friday's yen intervention as a sign ...

Treasury Secretary Scott Bessent characterized U.S. support for Friday's yen intervention as a sign that President Donald Trump's government “delivers for America's trusted partners.” Perhaps.

Richard Driehaus, the late Chicago money manager who helped popularize momentum investing, took exception to the mantra of buy low, sell high . “I

Customize Consent Preferences Richard Driehaus, the late Chicago money manager who helped popularize momentum investing, took exception to

Let’s start with a mea culpa. In a column about Michael Burry last year, I suggested that the famous permabear may have been using his apocalyptic market calls to garner eyeballs, potentially helping him sell books, speeches or perhaps screenplays. That was wrong in at least one way: Burry wasn’t selling books at all; he was launching a Substack.

Let's start with a mea culpa. In a column about Michael Burry last year, I suggested that the famous permabear may have been using his apocalyptic