The Market Structure Map
June 4, 2025
“You are going to see a crack in the bond market, OK?” Jamie Dimon is good at saying things that get your attention. I tried to follow that example at the NIRI Annual Conference this week as a panelist on Data-Driven IR for moderator Fatma...
May 21, 2025
I’ll tell you what fascinates me about stocks. Before that, Barry Diller’s memoir is out. I’ve long thought him an interesting guy. It’s no doubt worth reading. He says he spends months on his 300-foot schooner, Eos. We saw his big boat (see photo) sailing...
May 14, 2025
On May 9, Goldman Sachs strategists warned that the S&P 500 faced a potential drop of 20%, to 4,600, while the US economy had a 45% risk of recession. On May 13 in Barbara Kollmeyer’s Dow Jones Marketwatch Call of the Day column, the firm’s...
May 7, 2025
Crazy Chester followed me and he caught me in the fog. I’ve had that lyric stuck in my head. As it turned out in the song by The Band, Chester wanted him to take Jack the dog. I like this version with Dave Matthews and...
April 30, 2025
Can stocks fall if nobody sells? For a sneak peek at my thesis, here’s my segment with Brian Sullivan and Kelly Evans on CNBC Power Lunch Monday Apr 28. You may be thinking: Is it a trick question? There’s a buyer for every seller. I...
April 23, 2025
It was never about Jay Powell. It was options. As the market reeled Monday, the Talking Heads declaimed that Donald Trump was responsible: He was going to fire Jay Powell. We said before the market faceplanted and recovered that it would likely fall Monday with...