A Brief Reprieve (God Blesh Ush, Everyone)

Thursday felt like a bit of a reprieve from the past couple of days as the tech selloff abated and outside of Bitcoin, nothing too outlandish happened.

The S&P snapped a four-day losing streak and the Nasdaq outperformed again, perhaps easing concerns about the tech rout (note: small-caps outperformed as well):

SPXNas

If you’re keeping track of how things have unfolded since the tech selloff last week this is amusing:

SinceTech

The curve reversed early flattening thanks in part to reports that Trump is set to put out something on infrastructure in January.

  • TRUMP IS SAID TO READY INFRASTRUCTURE PLAN FOR JANUARY RELEASE

That should be funny. Remember, his last press conference on infrastructure devolved into a shouting match with reporters about Thomas Jefferson’s slaves. That headline hit at 2:00-ish and you can see Treasurys move lower and the dollar climb:

YieldsDolalr

Fourth day in a row of gains for the greenback:

Dollar

Despite this afternoon’s steepening, there’s no escaping the inevitable:

Curve

Folks are bearish on gold ahead of the Fed and amid dollar strength tied to the tax plan. The most recent Bloomberg survey shows investors are the most bearish since at least April 2015.

  • Bullish: 2 Bearish: 8 Neutral: 3

Gold is sitting at a four-month low and is on pace for its largest weekly decline since July:

Gold

The pound got a (much needed) reprieve on Thursday afternoon, spiking on a report that the U.K. and Ireland are close to striking a border deal:

GBPUSD

Not a good day for Brazil as stocks and the real were hit hard on pension overhaul jitters:

Brazil

Haven’t mentioned the Aussie in a while, but it’s at a six-month low:

Aussie

Oh, and this is hilarious. According to Cowen, Amazon is set to save $723 million in 2018 and $1.3 billion in 2019 under Trump’s tax bill. All told, the company could end up getting a 24% boost to earnings in each of those years. Meanwhile, Facebook and Alphabet could see an 8% EPS upside. This assumes the U.S. corporate rate goes to 22% on January 1. As usual, “there’s a tweet for that”:

Obviously, Bitcoin was the story (again). One day after blowing through three round numbers ($12,000, $13,000, and $14,000), it crossed $15,000 and $16,000 and $17,000 and $18,000 and then $19,000 (depending on where you’re tracking this thing) only to careen lower by a truly absurd $4,000 amid a series of outages and performance issues across platforms:

Bitcoin

Keep in mind: that is a goddamn two-day chart.

“People are looking at a video game as a regular market. And it’s clearly not, otherwise it wouldn’t be where it is already,” Walter Zimmerman, a technical analyst at ICAP TA told FT, adding that this is “beyond abnormal, it’s unprecedented. Every other commodity has natural sellers.”

Finally, your moment of zen: “God blesh these shhates, shank you very mush”

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6 thoughts on “A Brief Reprieve (God Blesh Ush, Everyone)

  1. interesting today that Sarah Horseface came back to her throne and answered a question a reported yelled out — she wanted to be sure and tell us assface was scheduled after the first of the new year for a physical.

    I’m telling ya, the man had a stroke, not uncommon to have several mini-strokes before the Big One. Remember Fred Sanford of Sanford & Son?

      • exactly — that is why he avoids press conferences and tweets instead – and passes his messages along to his mouthpiece, Horseface. He won’t last very long like this.

  2. It looks to me like his upper dentures/implants are coming loose. There’s an odd depression in the tissue just under his nose and prominence of the tissue just above his lips. Also, his upper teeth are extending quite a way below his upper lip while he’s talking and you can see him trying to put them back with his tongue. You can even hear some whistling from a loose dental appliance at one point.

    Yes, you can have dysarthria alone with some types of TIAs and strokes. However, this looks to me like loose dentures and it seems much less likely to be recurrent lacunar strokes/TIAs.

  3. He had the same problem when he was on his last trip. Perhaps they give him or he takes a medcation to stay awake or deal with jet lag that causes extreme dry mouth.

    Strokes, dementia, alzheimers, dentures are commonly seen in the same geriatric patient.

    https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0ahUKEwjEpJe0ifnXAhVKKyYKHVnxCpkQFghcMAc&url=https%3A%2F%2Fblogs.scientificamerican.com%2Fobservations%2Falzheimers-risk-linked-to-common-complaints-from-poor-eyesight-to-denture-trouble%2F&usg=AOvVaw1J4DoWBMYPrAqHU6flYBB_

  4. Not Quite Anonymous December 7, 2017 at 6:48 pm

    He had the same problem when he was on his last trip. Perhaps they give him or he takes a medcation to stay awake or deal with jet lag that causes extreme dry mouth.

    Strokes, dementia, alzheimers, dentures are commonly seen in the same geriatric patient.

    https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0ahUKEwjEpJe0ifnXAhVKKyYKHVnxCpkQFghcMAc&url=https%3A%2F%2Fblogs.scientificamerican.com%2Fobservations%2Falzheimers-risk-linked-to-common-complaints-from-poor-eyesight-to-denture-trouble%2F&usg=AOvVaw1J4DoWBMYPrAqHU6flYBB_

    Reply

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