“This is what it looks like when the White House itself plays in these waters. It’s the stuff of petty strong-man dictatorships for the President to pronounce an individual guilty of a crime without having to proffer any evidence, offer a legal theory, or convince a jury.”
Author: therealheisenberg
Goldman: A Bear Market Is Coming And Here’s How To Avoid Losing 25%
“The key is to avoid the next 20-25% of declines that typically follow the initial period of volatility.”
Sessions Shouldn’t Change Rules On Leakers Say People Who Wrote Rules On Leakers
“Such a move is unnecessary for successful prosecutions, and it could have long-term negative consequences on the free press.”
S&P Futures Under Pressure As North Korea Has ICBM All Gassed Up And Ready
Ok, well just hours after North Korea threatened to “sink” Japan with “the nuclear bomb of Juche,” reports suggest Pyongyang is readying another missile launch.
Citing an unnamed Japanese official, Nikkei news says a missile is being prepared for launch and has the engine for liquid fuel, suggesting it’s an ICBM.
Nikkei Snaps Win Streak As North Korea Threatens To ‘Sink’ Japan With ‘The Nuclear Bomb Of Juche’
 “A telling blow should be dealt to them who have not yet come to senses after the launch of our ICBM over the Japanese archipelago.”
CPI Beats, Dollar, Yields Jump
CPI rose 0.4% vs est. 0.3%
Forecast range from up 0.2% to up 0.4% from 76 estimates
Ex. food, energy up 0.2% vs est. 0.2%
CPI y/y rose 1.9% vs est. 1.8%
Let’s Not All Panic About The Slowest Pace Of FAI This Century In China, Ok?
That’s cause for concern. Given that the country is the engine of global growth and trade, you don’t want to see the brakes slammed on. That said…
Pound Jumps, FTSE Falls As BoE Sees Scope To Reduce Stimulus After 7-2 Vote
BANK OF ENGLAND VOTES 7-2 TO MAINTAIN BENCHMARK INTEREST RATE
Key Calls (Thursday): Upgrades, Downgrades & Initiations
You need an upgrade.
Presenting: An Indispensable Dollar Checklist
There have been all sorts of labored attempts to explain how this isn’t all Trump’s fault and because nothing is ever entirely attributable to a single factor, those efforts are not totally in vain. That said….
Chart: This Is Now The 3rd Strongest Bull Market In History
Something about “the bigger they are”… I forgot the rest. I think it’s: “the bigger they are, the more aggressively you buy any dips.”
You Should Have Just Gone To The Bar.
Generally speaking, this week’s theme (reflation back on in the U.S. as stocks, the dollar, and yields all rise in tandem) held, as there was no news “bigly” enough to change the narrative.
Bitcoin, Meet Gandalf: Kolanovic Says Cryptocurrencies May Be Pyramid Schemes
Apparently, some folks at JPMorgan were listening when Jamie Dimon threatened to fire anyone caught trading Bitcoin for “being stupid,” because none other than Gandalf himself is out with a new note on cryptocurrencies and he doesn’t paint a particularly flattering picture.Â
‘Red Hot’ Mueller ‘Zeroing In’ On Russia’s Use Of Facebook, Twitter: Sources
Mark my words: you’re going to wake up one day a year or so from now and discover that some of the sites you frequent have been shut down – permanently.
Taxpayers Are Spending $38 Million A Day On Pretrial Incarcerations
“…someone’s ability to afford bail decides who returns home to wait for their day in court, rather than whether they pose a threat to the community. This is more than just a miscarriage of justice — it constitutes a threat to public safety.”
High Frequency Data Shows The Dramatic Impact Of Harvey On Retail Sales
“We estimate that the net reduction of spending in Texas sliced 0.1-0.2pp from the monthly growth rate of total retail sales ex-autos in August.”
Breaking: September 25 Is The New Date For Abject Failure On Tax Reform
Well, fast forward another five months and we’re supposed to believe that all will be revealed in less than two weeks.
A New Global Trend Or Just Maple Syrup On Bacon?
“I can already hear the guffaws from all my hard money readers. The last thing the government needs to do is spend more money is what they will say. We need to save more, spend less, and tighten our belts. Well, that has been tried.”
It’s Hard To Quit.
Because then you’ll be actively contributing to the vol. spike (by selling assets or letting them roll off the balance sheet) and passively contributing to it as well by removing the “put” that incentivizes investors to buy dips and suppress volatility.
‘The Trump Premium Has Drained Out’ – Goldman Has A Trade For You
But for the enterprising among you, that probably means there’s some upside asymmetry here. Just know that if you take that trade, you’re effectively betting that Gary Cohn won’t ultimately leave the administration…
Dear Steve Bannon: It Doesn’t Get More Mainstream Than 60 Minutes
“It’s a combination of stunning calculation and deep irony,†said Frank Sesno, director of the George Washington University School of Media and Public Affairs, speaking of Bannon’s appearance on “60 Minutes.â€
Key Calls (Wednesday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘They’ll Close It Down.’ Jamie Dimon’s Ruthlessly Realistic Bitcoin Call
“Wait until someone gets hurt. They’d close it down. That’s my point.”
Russia Used Facebook To Organize Rally In Town Targeted By Breitbart, InfoWars
A Facebook spokesperson confirmed to The Daily Beast that the social-media giant “shut down several promoted events as part of the takedown we described last week.†The company declined to elaborate, except to confirm that the events were promoted with paid ads.
‘Investors May Have Wandered Into A Casino Without Realizing It’
So one hopes investors are cognizant of the possibility that they are chasing an EM FX rally more than they are “investing” in emerging markets with this trade.
Just Make Sure You’re Hedged.
You’d probably be wise to do the same.
Dalio: If Gary Cohn Leaves, It Would Be ‘Terrible For Markets’
Again, this isn’t about whether you like Gary Cohn or whether you think he’s a good choice for the Fed. This is about uncertainty in markets and the extent to which Donald Trump’s ineptitude is setting the stage for all manner of volatility down the road.
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