Almost Daily Grant's

“Almost Daily” is the new, end-of-day delectation from Grant’s.

ADG tells you what happened. It speculates on what may happen and tracks and develops Grant’s themes. Look for it after the New York close of trading—almost daily.

You can always find ADG here.  Click below to opt-in to an almost daily email, delivered straight to your inbox.
ADG is for everyone—paid-up subscribers, naturally (the noble ones!), and future subscribers alike.

We hope you enjoy it.

Sign-Up

First Name:
Last Name:
Email:
Phone (Optional):
Check here to indicate that you have read
and agree to our Terms & Conditions and Privacy Policy

Friday, October 19, 2018

Agent provocateur
From Reuters:

He said it
“Some of the analysts who can’t read numbers.”

Bad back

Recap Oct. 19

Thursday, October 18, 2018

Road to nowhere

QT progress report

Recap Oct. 18

Tuesday, October 16, 2018

On the back foot
It was a familiar scene to many a fund manager.

Recap Oct. 16

Monday, October 15, 2018

Rest' stop
Tough times continue apace for the restaurant industry,

Recap Oct. 15

Friday, October 12, 2018

Recap Oct. 12

Tesla searches for liquidity
From Business Insider:

Honor among thieves
On Tuesday, Coindesk.com reported an eye-catching development in the digital currency realm:

Wide bloat

Thursday, October 11, 2018

Opposite day
Kanye West visited the White House today.

Squeeze, Inc.

QT Progress report

Recap Oct. 11

Wednesday, October 10, 2018

Flying squirrel. Grounded.
From the Associated Press:

And so it came to pass
During yesterday’s 2018 Grant’s fall conference at the Plaza Hotel

Still the epitome of the cycle
They’re looking to make it official.

Recap Oct. 10

Monday, October 8, 2018

Potemkin village
Down goes the renminbi.

Recap Oct.8

Friday, October 5, 2018

Cooking with gas
On Wednesday,

Basis pointers
The selloff in U.S. Treasury bonds has accelerated in recent days,

QT Progress report

Recap Oct. 5

Tuesday, October 2, 2018

They ate the cake

Correction

Recap Oct. 2

Monday, October 1, 2018

Are we there yet?
Mission accomplished.

Sold to you
While bitcoin is down 63% from its December peak, enthusiasm for the digital ducats remains brisk.

Recap Oct. 1

Thursday, September 27, 2018

Tip of the iceberg
No news is good news.

QT progress report

Recap Sept. 27

Wednesday, September 26, 2018

Rigamarole
Wither the drillers?

Recap Sept. 26

Tuesday, September 25, 2018

Fancy restaurant
It’s leverage on top of leverage.

Recap Sept. 25

Monday, September 24, 2018

The Negotiator

Recap Sept. 24

Friday, September 21, 2018

Your Latest Trick
British rock band Dire Straits,

Help really wanted
Inflation is stirring.

Recap Sept. 21

Thursday, September 20, 2018

Leverage lamentation
With apologies to Homer Simpson, here's to debt: The cause of, and solution to, life's financial problems.

QT progress report

Recap Sept. 20

Tuesday, September 18, 2018

Muppets take Manhattan

Attention: deficit disorder

Recap Sept. 18

Friday, September 14, 2018

In other news
From Agence-France-Presse:

Tail wags the dog

Recap Sept. 14

Thursday, September 13, 2018

Playing Ketchup
It’s been a tale of two halves for the Kraft Heinz company.

QT progress report

Recap Sept. 13

Wednesday, September 12, 2018

GoFundTheUniverse
Yesterday, from Bloomberg:

Low energy

Recap Sept. 12

Tuesday, September 11, 2018

Fine print foibles
The books are open.

Recap Sept. 11

Monday, September 10, 2018

Wealth defect
Over the weekend, Global Financial Crisis-era policymakers Ben Bernanke, Timothy Geithner and Henry Paulson brought the band back together

Ma Ma, hey hey
While the U.S. stock market maintains its upward trajectory,

Recap Sept. 10

Friday, September 7, 2018

Clickbait
"Senators, let me be clear:

Recap Sept. 7

Thursday, September 6, 2018

Multiple personalities

QT progress report

Recap Sept. 6

Tuesday, September 4, 2018

First shall be last

Recap Sept. 4

Friday, August 31, 2018

Dog day afternoon

Recap Aug. 31

Thursday, August 30, 2018

Back to the Future
It sounds vaguely familiar: A potent U.S. bull market runs headlong into an emerging markets crisis.

Great moments in corporate communications
Yesterday, China Properties Group Ltd. (1838 on the Hang Seng) reported

QT Progress Report

Recap Aug. 30

Wednesday, August 29, 2018

Turkish bath

Recap Aug. 29

Tuesday, August 28, 2018

Bean oh
Today, the Invesco Deutsche Bank Agriculture Fund ETF (DBA on NYSE Arca),

Recap Aug. 28

Monday, August 27, 2018

Forest for the trees

Recap Aug. 27

Friday, August 24, 2018

No context, no problem
Your headline of the day (year?), from the Miami Sun Sentinel:

Take it all
A changing of the guard is afoot in the Big Apple.

Correction

Recap Aug. 24

Thursday, August 23, 2018

Canada dry

QT progress report

Recap Aug. 23

Tuesday, August 7, 2018

Earplugs optional
Grist for a potential sequel to Dazed and Confused?

Dark Star
Silence is golden, usually.

Recap Aug. 7

Monday, August 6, 2018

Post pattern
Cleanup in aisle three.

Recap August 6

Friday, August 3, 2018

Down in the bottom
From Denver’s NBC9 news:

Step Brothers
Like Frank Costanza, King dollar is a Phoenix, rising from Arizona.

Recap August 3

Thursday, August 2, 2018

The Producers

QT progress report

Recap August 2

Wednesday, August 1, 2018

What lies beneath

Correction

Recap August 1

Tuesday, July 31, 2018

Shiver me cryptos
On July 18,

C.C.C. Rider
Happy days are here for holders of some of the dodgiest credits around.

Recap July 31

Monday, July 30, 2018

The Hangover
It wasn’t much of a party.

Recap July 30

Friday, July 27, 2018

CHHIIIINAAA!
Deleveraging, we hardly knew ye.

Recap July 27

Thursday, July 26, 2018

Zuck Zuck goose
A bump in the road, or something more?

QT progress report
The break is over.

Recap July 26

Tuesday, July 24, 2018

Tool time
Set it and forget it.

Recap July 24

Monday, July 23, 2018

Offer wanted
As the Fed tightens and the ECB discusses the end of EZ-money, whither the Bank of Japan?

Recap July 23

Friday, July 20, 2018

Trump tweets

Yuan headlight

Recap July 20

Thursday, July 19, 2018

Bernank the tank
Tough crowd.

QT progress report

Recap July 19

Wednesday, July 18, 2018

Turkey club

Recap July 18

Tuesday, July 17, 2018

Now is the winter of our streaming content
The bulls received a jump scare straight out of Stranger Things.

Recap July 17

Monday, July 16, 2018

Hello Altice
Many happy returns in the corporate bond market.

Recap July 16

Friday, July 13, 2018

Community-adjusted protein
WeWork, you never disappoint. From Bloomberg:

You get what you pay for
It’s the private-sector version of the “zero lower bound.”

Recap July 13

Thursday, July 12, 2018

Two ships in the night

QT progress report

Recap July 12

Tuesday, July 10, 2018

Flat top fade
The speculators have arrived.

Recap July 10

Monday, July 9, 2018

A programming note

China check

Recap July 9

Friday, July 6, 2018

Bean there done that
Time waits for no ship.

Recap July 6

Thursday, July 5, 2018

One from the vault

QT progress report

Recap July 5

Tuesday, July 3, 2018

Bear on the 4th of July
From the Associated Press:

From Washington D.C. to Menlo Park

Recap July 3

Monday, July 2, 2018

PLEASE NOTE:

How the turntables have turned

Recap July 2

Friday, June 29, 2018

Them's fightin' words
During last night’s ballgame, Cincinnati Reds first baseman Joey Votto

Slick Rick
We’ve got a gusher.

Recap June 29

Thursday, June 28, 2018

It's a small world
The buck stops where?

QT progress report

Recap June 28

Tuesday, June 26, 2018

Elevation grade
The bears are circling the corporate bond market.

Recap June 26

Monday, June 25, 2018

Hungry like the wolf
We may soon find out if bigger is indeed better.

Recap June 25

Friday, June 22, 2018

Petal to the metal
Records are made to be broken.

Thursday, June 21, 2018

Mystery fridge
Like referees in sports, it’s rarely a good thing when auditors are in the news.

QT progress report

Recap June 21

Wednesday, June 20, 2018

Addition by subtraction
It was only a matter of time.

No pain, no grain
The proof is in the pudding.

Recap June 20

Tuesday, June 19, 2018

We'll make it up on volume

Dance of the living dead
Mixed signals abound in the U.S. corporate credit market.

Recap June 19

Monday, June 18, 2018

Last shall be first
It’s not just your imagination.

Open 'doors'
It was a different kind of rent-to-own.

Recap June 18

Friday, June 15, 2018

What's in your wallet?
This morning, the Argentine peso rallied by nearly 5% against the greenback

Tether ball
Will the last crypto bull please turn out the lights?

Recap June 15

Thursday, June 14, 2018

Phone home
It’s alive!

QT progress report

Recap June 14

Tuesday, June 12, 2018

Sunshine haymakers

Recap June 12

Monday, June 11, 2018

Weapons of Mass Profit
Emerging markets have taken center stage, all but one:

Recap June 11

Friday, June 8, 2018

Friday deep thought

Knock on, drag out
The screws turn a little tighter.

Recap June 8

Thursday, June 7, 2018

Notable quotable

Tandem climb
There’s a party in junk bonds, but where are the attendees?

Recap June 7

Wednesday, June 6, 2018

Windward tack
Is the government thumb finally coming off the scale?

Recap June 6

Tuesday, June 5, 2018

Facial recognition

Recap June 5

Monday, June 4, 2018

It's all relative
Last week, Ted Livingston, CEO of messaging app Kik

Submerging markets
Are the storm clouds abating in emerging markets?

Recap June 4

Friday, June 1, 2018

Loan Star

Recap June 1

A sneak peak at the latest Grant's...

Thursday, May 31, 2018

Part and parcel
Let’s check in on the Great White North,

QT progress report

Recap May 31

Tuesday, May 29, 2018

Zone defense

Recap May 29

Friday, May 25, 2018

Jumble-aya
As the Memorial Day weekend is upon us,

Thursday, May 24, 2018

CoCo beware
What bull market?

QT progress report

Recap May 24

Wednesday, May 23, 2018

Communication breakdown
Time for plan B.

Slumbering samurai

Recap May 23

Tuesday, May 22, 2018

Under the hood
No ZIRP? No problem, mostly.

Recap May 22

Monday, May 21, 2018

Debt decision
Price action in the stock market appears healthy,

A crowded table
It was an un-bullish omen.

Recap May 21

Friday, May 18, 2018

Fun with filings
Interesting doings of late in the Securities and Exchange Commission’s EDGAR database.

Recap May 18

Thursday, May 17, 2018

BEN down this road
Hasenstab to the rescue!

QT progress report

Recap May 17

Tuesday, May 15, 2018

Where the rubber meets the road
The second-longest postwar expansion on record continues at a humdrum pace.

Recap May 15

Monday, May 14, 2018

Harder they come
It’s a brave new world in the credit market.

Recap May 14

Friday, May 11, 2018

Inter-species diplomacy
From the New York Post:

Hotel California
We can say this for emerging markets: They are definitely not boring.

Recap May 11

Thursday, May 10, 2018

Credit check
Bond bulls caught a reprieve.

QT progress report

Recap May 10

Wednesday, May 9, 2018

We have ice cream at home, kids
It was an incongruous sight in the midst of what is already the U.S.’ second-longest post-World War II economic expansion, even before the tax cuts.

Recap May 9

Tuesday, May 8, 2018

Ball four
Escalator temporarily out of order.

Recap May 8

Monday, May 7, 2018

The other side of oil

Recap May 7

Friday, May 4, 2018

With the kung-fu grip
From the Associated Press:

Pain in the ARS
Mr. Market is manic.

Recap May 4

Thursday, May 3, 2018

Run for the roses
Steady as she goes in the energy patch

QT progress report

Recap May 3

Tuesday, May 1, 2018

Emerge overkill
The buck is breaking out.

Recap May 1

Monday, April 30, 2018

Persistence epitomized
Could this lingering courtship finally be consummated?

Recap April 30

Thursday, April 26, 2018

Your Face is my case
These results helped make some new friends.

Recap April 26

Wednesday, April 25, 2018

"Smart contracts"
A short story, in two parts:

Dollar bill blues
Is this as good as it gets?

Recap April 25

Tuesday, April 24, 2018

WeBorrow
Are Tesla or Netflix bonds a little too boring for you?

Impulse control
Two debt-laden ships pass in the night.

Recap April 24

Monday, April 23, 2018

Heads I win
The interest rate-beat goes on.

Recap April 23

Friday, April 20, 2018

In Memoriam
Martin Whitman, value investor,

Peas in a pod
We’ll see if this one is better than cubic zirconia.

Recap April 20

Thursday, April 19, 2018

Notable quotable
Bill Miller, of Legg Mason Capital Management fame, on Twitter this morning:

In season
Tax day has come and gone, but, for holders of U.S. government debt, a different sort of confiscation continues apace.

QT Progress report

Recap April 19

Tuesday, April 17, 2018

Fjord focus
“Global debt rose to a record $237 trillion in the fourth quarter of 2017, more than $70 trillion higher from a decade earlier,

Recap April 17

Monday, April 16, 2018

Well to do
It was not an ideal start to the week. Investors in National Oilwell Varco, Inc. (NOV on the NYSE)

Recap April 16

Friday, April 13, 2018

Metaphor overload
From Wednesday’s edition of the Sacramento Bee:

Lending labyrinth
It’s still early, but 2018 could thus far be termed, the “Year of the Whipsaw.”

Recap April 13

Thursday, April 12, 2018

Passive aggressive
This Wall Street heavyweight still packs a punch.

QT progress report

Recap April 12

Wednesday, April 11, 2018

Attention, deficit disorder
That recently-dormant beast called inflation is stirring.

Recap April 11

Monday, April 9, 2018

The Son also rises
This bull-market avatar is doubling down:

Recap April 9

Friday, April 6, 2018

The overpromised land
Terrific weather, a booming tech-led economy and lots to do: Who wouldn’t want to live in the City by the Bay?

Not just for Snickers bars
For all the talk of a trade war, China and the United States share major economic commonalities,

Recap April 6

Thursday, April 5, 2018

Vehicle vestibule

QT progress report

Recap April 5

Tuesday, April 3, 2018

Cold Turkey
Most developed economies feature interest rates that are visible only through a magnifying glass.

I thought you were pre-med?
Spotify Technology S.A. made its publicly traded debut today,

Recap April 3

Monday, April 2, 2018

Dear Mr. Fantasy
Who's up for some reward-free risk?

Recap April 2

Thursday, March 29, 2018

Bund cake
This morning, German CPI rose by 1.6% year-over-year, just below the consensus expectation of 1.7%.

QT progress report

Recap March 31 and first quarter 2018

Tuesday, March 27, 2018

Hodl on loosely
Ah, crypto-currencies.

Recap March 27

Monday, March 26, 2018

Tough but fair

Leverage on offer
If regulators on either side of the pond have their way, it will soon be time to say tata to the London Interbank Offered Rate (Libor)

Recap March 26

Friday, March 23, 2018

Ahoy, polloi!
From Business Wire:

Cool Recep-tion
The dollar’s recent weakening against most world currencies has left one prominent exception:

Recap March 23

Thursday, March 22, 2018

Triple-B Gees
What does it mean when outsize moves in interest rates are met with little more than a shrug in corporate credit?

QT progress report

Recap March 22

Tuesday, March 20, 2018

Facial
It’s already been a long week for Mark Zuckerberg & Co.

Recap Mar. 20

Monday, March 19, 2018

History rhymes
An excerpt from a Bloomberg dispatch this morning,

Rebuttal rebuttal
On Mar. 11, the Bank for International Settlements sounded the alarm on the Canadian housing market,

Recap Mar. 19

Friday, March 16, 2018

Bots gone wild
Here’s a story that no one (not least your publisher) was expecting to see in Almost Daily Grant’s

If you build it, they will come?
Interbank borrowing rates, the machinations of the Swiss National Bank and cryptocurrencies are seemingly unrelated investment entities. But are they?

Recap Mar. 16

Thursday, March 15, 2018

QT Progress report

Deal derby

Recap Mar. 15

Wednesday, March 14, 2018

QE chronicles
If a bond yields nothing and no one trades it, does it even exist?

Golden ruberstamp
From the Boston Business Journal:

Recap Mar. 14

Tuesday, March 13, 2018

Who will guard the guards themselves?
Yesterday’s edition of the Financial Times features a remarkable, and somewhat alarming, claim: