“When someone is impatient and says, ‘I haven’t got all day,’ I always wonder, How can that be? How can you not have all day?” George Carlin
**SCOTUS DAY in the stadium!**Job security rose to workers’ second-most pressing concern this year, after covering their monthly expenses, according to a new survey by Mercer.
So, jobs and inflation are the two biggest concerns on the minds of US citizens. I’ve kept a keen focus on inflation earlier in the year and have moved somewhat into jobs because …
While “covering monthly expenses” had been the leading concern for the past three annual surveys, fears around job loss jumped from seventh place in 2023 to second place in 2025, where it was tied with being able to retire and work-life balance.
So, inflation is still the biggest concern, but job losses have moved all the way up from seventh to second since summer.
While overall consumer spending increased in the third quarter, research from Mark Zandi, chief economist at Moody’s Analytics earlier this year found that the top 10% of income earners now account for half of consumer spending. Zandi later reported in October that 22 states are in a recession and 13 are treading water.… according to a new survey by the Conference Board … more people now say their family’s current financial situation is “bad” than “good,” the survey found….
Meanwhile, in the December report from the University of Michigan Surveys of Consumers, 63% of people said they expect unemployment to continue rising next year. Sentiment was nearly 30% below the level in December 2024 “as pocketbook issues continue to dominate consumer views of the economy,” the report said.
The crazy continues
“ Vance Knows What ICE Means to MAGA”
(Atlantic)"Trump Regrets Not Seizing Voting Machines After 2020 Election"
(NYT)Remember those $2000 checks? Someone doesnt!
10:50:34
“Why Are Credit Card Rates So High?”
(FRBNY)“Deutsche Bank shares exceed book value for first time since 2008”
(FT)Silver, gold, tin and copper are soaring, while crypto assets broke out a range they’ve been languishing in for several weeks.
Chinese stocks fell after authorities tightened rules on margin financing.
Number of calendar items may move markets later: PPI and retail sales due, more big bank earnings and — potentially — the Supreme Court tariff ruling that never came on Friday.In rates,
Fed’s Barkin said businesses are still passing price increases from tariffs along to consumers, creating some inflation pressure.
Market in risk-on mode across assets
Bitcoin breaking out. Next real resistance around $100k
Volatility measures across assets at lows
Momentum factor leading the pack
Correlation between Momentum and Quality at multiyear lows
Over last year, ‘non-profitable tech’ basket is top performer
Since mid-November Value has been outperforming Growth. That appears to be reversing
Intra-SPX 1m correlation is at multiyear lows- Stock-picker’s market
SPX equal weight outperforming
Energy is primed to outperform
Energy extremely underowned
’Hated you say ?’
(Fred’s Corner)Crude setting a bottom- through 62 rips higher
XLE
