‘It’s Incredible’ – I Think.

Listen, there’s really only one thing you need to understand on Monday and that’s this: “the state of our union is incredible”.

And if you don’t believe me, here’s White House Press Secretary (and aggravated plum in makeup) Sarah Huckabee Sanders:

Got that? I mean sure, this time last year we had a thriving democracy and now we’ve got a raging dumpster fire, but outside of the whole democracy ——->> autocracy shift, everything is going “incredible”.

 

Also, Sanders wants you to know that the person who is working from 11:00-ish a.m. to 4:30-ish p.m. to make our union “incredible” had nothing to do with Andrew McCabe  stepping down from his post as FBI deputy director:

  • TRUMP WASN’T PART OF DECISION PROCESS FOR MCCABE EXIT: SANDERS

I mean sure, if you word search Trump’s Twitter history for “McCabe” you get this:

Mccabe

But he had nothing to do with it, ok? “Believe me.”

Speaking of the State of the Union, here’s a little preview of what you can expect:

  • TRUMP SPEECH GUESTS TO INCL. PARENTS OF KIDS KILLED BY MS-13

As noted earlier today, that’s a marked improvement from what we imagine Fox would tell you if you asked them who would have been at Hillary’s first State of the Union:

As far as markets go, it was all about bonds today which should come as no surprise given what’s on deck. 10Y yields hit their highest since April 2014 early in the day before Treasurys pared losses after Monday’s econ data:

Yields

Eventually, the bond selloff is going to hit equities hard and you should probably try and glean a little something from this chart:

SPUts

In fact, “eventually” might well have been “today” because it certainly looked as though the Treasury selloff was weighing on sentiment with all the major indices lower and the VIX up notably to a 13 handle:

Stocks

Look out…

Vol

Bunds are selling off as well with 5Y yields now at their highest since 2015 – all the way up to a “juicy” 0:

Germany5

The dollar finally responded to the move higher in yields, posting only its second day of gains in six:

DXY

EURUSD fell as much as 0.7% at one point, before trimming losses. A dovish ECB story helped arrest the relentless rally in the single currency.

EURUSD

This was the worst day for the emerging market ETF in more than a month as rising DM yields and the dollar rebound weighed:

EEM

Gold and oil were both down (dollar rebound weighing on them as well):

GoldOil

Oh, and Bitcoin investors haven’t extrapolated anything from the Coincheck NEM theft:

Bitcoin

Finally, for your moment of zen, here’s Sarah Huckabee Sanders again and this clip finds her acting out what amounts to a commercial for the State of the Union address, noting that it will “obviously, be must-watch TV”:

Yes, “obviously”.

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10 thoughts on “‘It’s Incredible’ – I Think.

  1. TRUMP SPEECH GUESTS TO INCL. PARENTS OF KIDS KILLED BY MS-13? Disgusting cheap, typical trump. So, can we please see some sort of verification these dead kids (no offense) were not the opposing gang that lost the battle that day? Or perhaps just a few that did not pay their drug bills? Or did they steal from the other gang?

    His big event will be almost a repeat of any one of his campaign rallies – been there, heard that, no more. Not watching that crap! Sorry, when horseface liar got to the part about must-watch tv, I had to laugh — she said that with a straight face!?! Surely there will be a decent repeat on the Animal Planet Channel, far better entertainment for me!

    About trump having nothing to do with McCabe stepping down — it really seriously pisses me off that the bloated pig has the audacity to even breathe the word unethical when he speaks of anyone’s behavior! trump certainly is the most unethical human on this planet – he has cheated and lied his entire life, stealing from his own charity foundation (lol), spewing sewage to hurt and defame any person who crosses his path or speaks against him, you have heard it all before – even cheating at golf – cheating on every wife – paying off people to not tell his sex secrets (lol), he is such a civilized respectable honorable man….PUKE.

    • The ‘Derangement’ is strong with you, Murph.
      ..
      Pay him no heed. He’s the living, breathing Law of Murphy spewing & blathering at the world since his bellybutton lint fondling was interrupted by the cable news.
      Something, yes, has gone wrong with the Murphy itself.
      ..
      The Acute Libtoid Cog-Diss Derangement Syndrome has apparently infected the very dialectic core of the Universe.
      ..
      Bigly Winning, I’d say.

  2. Yo, Heisenberg.
    Are you entering menopause or something?
    We all know the econ blather from any Federal critters is BS.
    Please spare us the personal attack obsession, though.
    It’s not grown-up.

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