The Macro Fireside

News tape nuances

Iran news flow, glass half full or not is what the market has to make up its mind about.

20 hrs ago • S G

October 2026

September 2026

August ‘26 Employment Report — My React

Hot! Headline NFP 162k printed hot vs ~31k average over the prior 12 months, and June/July revised up a combined +55k (July flips from -23k to +21k…

Sep 4 • S G

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August 2026

Saying it is good. Walking it is better.

The market spent the past ninety minutes repricing Kevin Warsh's convictions.

Aug 28 • S G

Jackson Hole ’26 Curtain Raiser - The Shadow Agenda.

The official agenda is about financial innovation, but the market wants to hear more and that is about the Fed.

Aug 27 • S G

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A single stock do not an asset class make.

NVIDIA’s $500 billion financing platforms are a single-name exposure in infrastructure clothing.

Aug 26 • S G

1

Buying debt with debt?

Well, at best you may reschedule it but can never extinguish it.

Aug 23 • S G

July CPI was largely a neutral print

But it lets everyone stand their ground, if they like.

Aug 12 • S G

July Payrolls and the Labor Market Conundrum

One education line, one sporting event, and a diffusion index above 50.

Aug 7 • S G

3

No headline, all signal — three sessions to round-trip an intervention

Not about Japan we said. Markets seem to be saying it now.

Aug 6 • S G

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