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Hard truth is CPI still rising

Matein Khalid The April jobs number and now the April CPI has reinforced convictions that inflation will continue to come down and thus the capital markets price two Fed rate cuts by year end.…

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Sector rotation in markets widens

Matein Khalid Bliss it was that dawn to be alive but to be long Nvidia was pure heaven. The ghost of…

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Bidenomics is all about fiscal largesse

Matein Khalid The spectacular bull market that resumed in mid-October has continued into the first 9-weeks of 2024. True, Nvidia at…

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With Nvidia, we live in the best of all worlds

Matein Khalid Voltaire’s Dr. Pangloss’s observation that we live in the best of all possible worlds definitely is true for those…

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Nvidia’s epic rise is overdone

Matein Khalid Nvidia’s epic rise from 150 in Jan-2023 to 726 now is historic in Silicon Valley. Yet it is no exaggeration to…

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Saudis are well aware oil market is oversupplied

Matein Khalid Saudi Arabia’s unique role in the oil market as Opec’s swing producer, the de facto central bank of oil,…

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Mother of all risk rallies

Matein Khalid “Be careful what you wish for. You may just get it”. This is an apt metaphor for the SEC’s…

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World’s boldest macroeconomic experiment

Matein Khalid In the emerging markets financial jungle, fairytales are impossible without the right jungle guide. So when Alejandro A (gringo…

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Why fund managers overweight Indian in any EM

Matein Khalid I agree with The Economist that India and Indonesia are the two shining stars of Asia and both are…

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Internal fissures add to OPEC woes

Matein Khalid Brent crude has fallen to $78 in Asia while WTI is $74 even though the Israel/Hamas war has resumed…

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A bearish conviction on black gold

Matein Khalid It is no coincidence that the yield on the 10 year US Treasury note plunged 60 basis points to its current…

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No pacifier or electric shock for the Street

Matein Khalid The smoke signals from the FOMC conclave suggests that Jay Powell will not gift the Street a pacifier nor…

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What Middle East desperately needs

Matein Khalid As the gods of war exact their grotesque ransom of human blood sacrifices in the Middle East, my mind…

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Doomed to relive 1970 stagflation nightmare

Matein Khalid The Treasury bond bloodbath is no longer about Fed policy, inflation mojo or the business cycle. It is impossible…

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China property stocks horror story

Matein Khalid The horror story unfolding in China’s property developer stocks and shadow banking system is pure Lehman 100X whose contagion…

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Three dimensional FX chess game

Matein Khalid The greenback was a one way bet since June when I had strongly recommended selling the Euro at 1.12…

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What Uncle Sam’s embrace of Venezuela means

Matein Khalid The discovery of an elephantine oil gusher in a Damam salt dome in 1937 by Chevron (once Standard Oil…

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Hamas brings shame to Palestine cause

Matein Khalid The cruel killers who constitute the high command of Hamas should now be renamed Dumbass. Did these deranged fools…

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A bullish macro ballast on Dalal Street

Matein Khalid While hardly news to the cognoscenti of Dalal Street and Planet Desiwalla, India’s stock market has been on a…

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At Goldman Sachs, chickens have come home to roost

Matein Khalid The chickens have finally come home to roost at Goldman Sachs after CEO David Solomon’s succession of strategic blunders…

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A country whose time has finally arrived

Matein Khalid Anguished at the atrocities in Israel/Gaza, I turn to a happier and happening EM, my obsession du jour in…

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The gun has won against olive branch

Matein Khalid Once again, the gun has vanquished the olive branch in the Middle East. The dawn assault by masked Hamas…

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Gasoline demand plunges to 25-year low

By Matein Khalid Something is dangerously wrong in a world where the price of crude oil can drop 5.6% in a…

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US political circus over by no means

By Matein Khalid Congress has averted a government shutdown in October but the political circus will resume in mid November. The…

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India’s great money making opportunity

By Matein Khalid India is the crown jewel in the MSCI EM index, just as it once was for the British…

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‘Buy when there is blood on the street’

Matein Khalid Lord Rothschild’s advice to “buy when there is blood on the street” is perfectly apt in the bombed out…

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