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First of all, this is about the most hilarious news imaginable:

  • SEAN HANNITY NAMED AS COHEN CLIENT WHO OBJECTED BEING NAMED

If I had to guess, this is about to get immeasurably worse for Trump. As for Fox and all of your favorite alt-Right blogs that parrot Fox’s “news” stories (you know, like the man-eating pandas), Sean’s going to need you to go long.

“We have been friends a long time. I have sought legal advice from Michael,” Hannity said on Monday, after he was unmasked on orders from a judge. Here are some headlines from an interview he did this afternoon:

  • HANNITY: COHEN TALKS NEVER INVOLVED MATTER BTWN ME, 3RD-PARTY
  • HANNITY SAYS COHEN `HAS NEVER REPRESENTED ME IN ANY MATTER’

Ok Sean, but my guess would be we’re all going to be hearing a lot more about this going forward and the optics aren’t great here.

Also on Monday, Trump made a complete ass of Nikki Haley by essentially calling her a liar. She said over the weekend that the U.S. would be announcing further sanctions on Russia today, but according to the Washington Post, the administration called the Russian Foreign Ministry on Sunday and informed them that additional sanctions weren’t actually in the works.

That was good news for the ruble. Here’s an annotated chart going back to last week’s Trump tweet about missiles:

USDRUB

It also boosted the Russia ETF:

RSX

Trump apparently wants to start a currency war now, just to complete the trifecta (trade war, shooting war, currency war). This morning, in a truly bizarre tweet, the President accused China and Russia of playing “devaluation games” despite the fact that the yuan has appreciated against the dollar for five straight quarters and despite the fact that recent ruble weakness is the direct result of sanctions imposed by the Trump administration.

That’s not to say we think it was wrong to sanction Russian entities and persons, it’s just to say that if you’re going to sanction them and those sanctions end up hitting the currency, you can’t then turn around and pretend like you have no idea why the currency is falling. Or I guess you actually can “pretend” you have no idea if you’re Trump because in all likelihood, he’s not pretending. What can we tell the Kremlin other than: you brought this on yourself in more ways than one.

Trump’s comments were also bizarre considering the Treasury declined to name China a currency manipulator on Friday in their semi-annual report. According to Danske Bank’s Allan von Mehren, Trump’s tweet “could signal the possible announcement of extra tariffs on $100b Chinese goods.” That would be the extra tariffs Trump proposed earlier this month to much fanfare and to much consternation from Beijing.

Oh, and he also nominated Pimco’s Richard Clarida, as Fed vice chair.

Somehow, U.S. equities managed to rally through all of this (I mean, not all of it is bad, it’s just a lot to digest), apparently on hopes that “one-off” means “one-off” when it comes to Syria or maybe just because it’s Monday.

Stocks

Using the chart of Walgreens and CVS below, spot the moment when this headline hit:

  • AMAZON BUSINESS IS SAID TO SHELVE PLAN TO SELL DRUGS: CNBC

Drugs

The dollar fell on the day and the offshore yuan strengthened past 6.27.

DXYUSDCNH

More flattening – because why not? 2s10s, 5s30s multi-year lows (again):

curve

Oil declined from a three-year high in choppy trade (we’ll call it “easing geopolitical tensions”):

WTI

Overnight, Chinese shares declined as mainland markets awaited GDP…

Mainland

…and investors ponder the prospect of higher rates and tightening in Hong Kong amid enormous pressure on the HKD band.

HKD

Finally, for your moment of zen, here is Alex Jones pretending to have a nervous breakdown because Trump bombed Syria…

 

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4 comments on “Go Long.

  1. I did not buy enough popcorn.

  2. Anonymous

    Hannity made 36 million last year. You think he would allow a legal chump like Cohen to be his lawyer? Hannity must have talked to his Fox lawyers early in the day who reminded him he never mentioned Cohen was his lawyer when he was defending Cohen on air. Later Hannity realized Cohen was trying to have privilege apply to some incriminating conversations Cohen may have taped. That’s when Hannity decided he may have given Cohen “ten bucks”.
    God I hope the Hannity-Cohen tapes and/or documents are not privileged.

    • hannity is as much as a grifter liar cheater and chump as trump and cohen are – and have you noticied that all make a whole bunch of bucks being and doing it all. That’s the sin of it and the draw of it. disgusting pathetic excuses for humans.

      I totally believe dirt will roll out all over hannity very soon. And hell yes he ran his big mouth to cohen all the time — this connection explains the bond that hannity has with trump. And if you saw that cluster of thugs all smoking their fat cigars in their little gossip ring outside yesterday — those are Russian’s gathered as a pledge to the mother country/leader.

      Find and read this article and the linked tweet chain:
      There is a great link to some twitter photos in this sentence copied from H’s column (Wonkette import) yesterday: “And Cohen himself was smoking cigars with Da Boys and getting photographed in his war crime blazer while his counsel was in court trying to convince the judge that Cohen IS TOO a real lawyer” and you will find that ‘Da Boys’ link here:
      https://heisenbergreport.com/2018/04/16/michael-cohen-may-represent-himself-while-wearing-a-sofa-blazer-and-smoking-a-cuban/comment-page-1/#comment-21157

      The bullshit $10 will not protect these hoodlums from this judge! The court is investigating cohen’s business — hannity is connected to that and has no privilege.

      p.s. I don’t think hannity’s boss knew anything of this before it hit on Live news. I sent a note to FOX yesterday telling them he should be fired like the other few they fired for similar issues. haha! I would have loved to have seen his happily married wife’s face…

  3. Anonymous

    Ten bucks worked for The Heisenberg. I think Saul only required one buck.

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