James Mackintosh

@jmackin2.bsky.social

Writer of Streetwise column in the Wall Street Journal www.wsj.com/streetwise Here for FinTwit c. 2012. Ex FT

Rare use of the "Ichimoku baseline" (part of the Ichimoku Cloud analysis) today thanks to technical analysis of the yen break. Love lines on charts, and this is (among?) the most complex of them all.

All the other index providers are frantically adding SpaceX and other sexy AI stocks. S&P 500 just added Ferguson Enterprises, which supplies plumbers. (Also HVAC which is booming for data centres, but hey, the index is designed to represent the real America)

The right sort of distractions from the chip-stock meltdown: 1. Sparrowhawk in tree just outside window 2. Wind at just the right angle to make the palm tree next to it make triffid rattling noise

So was calculating finances of adding solar+battery and the VAT cut of course makes it even less financially worthwhile. Need some big assumptions to get sensible pay off in less than perfect roof installation (eg that self-cleaning panels never need cleaning, as scaffold wipes out ~1yr of returns)

Trump adding tariffs on other countries for not doing enough to stop imports made with forced labour in the year Alabama prisoners went on strike, demands inc: "Abolish Forced Prison Labor"

So Waller wanting immediate rate rise. Simplest hawkish argument: (PCE) inflation's been running above 2% for 70 months in a row, while there's no serious problem in the jobs market and stocks are soaring. The punchbowl needs draining.