Y/Y, Canada’s economy grew by 4.6% in the 12 months through the end of May. That’s the highest growth rate since the millennium!
Month: July 2017
U.S. GDP, ECI Both Miss; Yields, Dollar Plunge
U.S. ECONOMY EXPANDED AT 2.6% PACE IN 2Q; EST. 2.7%
U.S. Second Quarter Employment Cost Index Rose 0.5%; Est 0.6%
‘Monster Strong’ Numbers Trigger Surge In Krona, Riksbank Now In A Bind
“Very punchy, blowing away economists’ estimates”…
‘It’s A Sitting Duck’: Swiss Franc Plunge Continues, Bund Yields Soar, On Hot German Data
“All this makes the CHF a bit of a sitting duck”…
We’re Going To Have To ‘Think About The Unthinkable’ To Save Mueller
“Why are we here? What are we about? What is it that we are defending? . . . I won’t sacrifice that for anyone.â€
Key Calls (Friday): Upgrades, Downgrades & Initiations
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EURCHF Surges As Stops ‘Inadvertently’ Triggered In Tokyo Amid ‘Very Poor Liquidity’
“…the move above overnight high was due to a combination of short covering and momentum buying and is being made more difficult as spreads blow out in both options and spot.”
‘It Can’t Be Helped’: Japanese Inflation Refuses To Rise Despite Bajillions In Money Printing
“The BOJ has done what it can with monetary policy. It can’t be helped.”
As Currency War Beckons, Here Is One Trader’s Dollar Mea Culpa
“It’s certainly a tempting idea given the price-action but, in the wake of my incorrect dollar call from Wednesday, I refrained from joining the debate with conviction.”
Karl Rove: Trump Will ‘Blast Presidency To Bits Before The Year Is Even Out’
“If Mr. Trump continues this self-destructive behavior, he will drown out his message and maybe even blast his presidency to bits before his first year in office is even out.”
Scaramucci: Bannon Is A ‘Cocksucker,’ Preibus Is A ‘Fucking Paranoid Schizophrenic’
“I’m not Steve Bannon, I’m not trying to suck my own cock,†he said, speaking of Trump’s chief strategist. “I’m not trying to build my own brand off the fucking strength of the President. I’m here to serve the country.â€Â
‘I Come Back To You Now’: Kolanovic Returns, Everyone Panics
“…at the turn of the tide.”
Boy Scouts ‘Sincerely’ Sorry For Trump’s Behavior At Jamboree
“I want to extend my sincere apologies”…
Thursday Satire: Trump’s Advice To Girl Scouts
“Hello, little girls! It’s me, President Donald Trump”…
Kolanovic Triggers Selloff, VIX Spike As ‘Gandalf Risk’ Strikes
“Volatility near or at record lows by a handful of measures should give pause to equity managers.”
Michael Bloomberg Doesn’t Even Know ‘Where To Begin’ On Trump’s Transgender Ban…
“It’s hard to know where to begin with President Donald Trump’s tweeted ban on transgender people serving in the U.S. military, which manages to offend on both moral and practical grounds, in both style and substance.”
‘They’re Playing With Fire!’: There’s No Geopolitical Risk Priced Into Oil
“Investors should not interpret this as a sign of quiet trading in the summer and muted price moves ahead. Instead, we view this as a good opportunity to add to their long exposure with cheap optionality, especially with global oil inventories continuing to tighten and geopolitics heating up again.”
Let’s Talk About Impeachment …
“Ernest Hemingway advised authors to write one true sentence. Among the truest words describing the Trump presidency were written by Professor Laurence Tribe of the Harvard Law School, in an op-ed in The Washington Post discussing impeachment and obstruction of justice. He wrote that ‘in Nixon’s case, the list of actions that together were deemed to constitute impeachable obstruction reads like a forecast of what Trump would do decades later.'”
‘Sonata, Adagio & Minuet’: A ‘Symphony’ Of Debate Emerges Around Surging Euro
“Currencies, like symphonies progress through movements, not in straight lines. As a symphony progresses through the sonata, adagio and minuet, volume and intensity crescendos and decrescendos before the final forte surge of the rondo.”
For Once In His Life, Jeff Sessions Was Right…
“…in what will probably go down as the single most important decision of his professional life, he made the right call.”
An ‘Explosion Of Large Block Trades,’ And A ‘Currency Cold War’
“We could very well be seeing a market-structure change right before our eyes.”
Oil Careens Lower On Heavy Volume; Goldman Sees “Green Shoots” For Crude
“While OPEC’s production path remains uncertain, recent fundamental oil data have come in even better than we had expected.”
Deutsche Bank, Bayer Undercut DAX, Even As Germans Most ‘Euphoric’ Since Reunification
“The indicator increased by 0.7 points, reaching a figure of 60.9 points. No better level has been recorded since reunification.”
Swiss Franc Tumbles: Euro Hits 1.12 For First Time Since Floor Was Abandoned
“For this reason we maintain our monetary policy of negative interest rates and interventions if needed.”
Trump, Republicans, And ‘Perverse Miracles’
“On both ends of Pennsylvania Avenue, we are witnessing a collapse of the norms of governing, constant violations of our legitimate expectations of political leaders, and the mutation of the normal conflicts of democracy into a form of warfare that demands the opposition’s unconditional surrender.”
Key Calls (Thursday): Upgrades, Downgrades & Initiations
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As The VIX Crashes To Record Lows, Here’s An Incredible Stat…
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