Ok, it’s time for your daily dose of Richard Breslow. Today’s missive from the former
Author: therealheisenberg
Larry Summers Goes H.A.M: ‘Every CEO Should Resign From Trump’s Councils!’
“No advisor committed to the bipartisan American traditions of government can possibly believe he or she is being effective at this point. And all should feel ashamed for complicity in Mr Trump’s words and deeds. I sometimes wonder how they face their children.”
The VIX, Trump’s Pulp Fiction Moment, And The Triumph Of BTFD
“And you will know my name is the lord!”
Dollar, Yields Jump As Retail Sales Beat
U.S. July Retail Sales Rose 0.6% vs Est. 0.3%
Freudian Retweet: Trump Retweets Man Calling Him A Fascist
Call it a “Freudian retweet.”
Pound Dives On Disappointing Inflation Data – Hooray For Bad News!
Ok, so the market is clearly fading any notion that the BoE is going to
Markets Can’t Escape Super-Scary ‘Shadow Of Negatives’
“To my mind, the facts still lean significantly bearish and suggest the phase of broad risk aversion isn’t yet done.”
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
You need an upgrade.
Futures Jump On Trump Infrastructure Headline, Yen Falls As Kim ‘Backs Down’
TRUMP TO SIGN EXEC. ORDER RELATING TO INFRASTRUCTURE PROJECTS
‘Thanks President Obama And Thanks Chair Yellen’
“But recall that candidate Trump dismissed official reports of strong economic numbers when they came under Obama by saying the Federal Reserve was creating a “false economy†and the stock market was rising due to an “artificial†bubble.”
Billionaire Bears Club
“Whether it is Gross, Icahn, Gundlach, Jones or Marks, there is no shortage of billionaires warning about the impending stock market crash.”
Selloff? I Hardly Knew Her.
And now back to your regularly scheduled rally.
3 Things Are Certain: Death, Taxes, And China Chicken Littles
“There is an old saying that “nothing is certain except death and taxes.” These days, we can probably add a third inevitability: that someone calls for the implosion of China’s economy or credit market.”
‘If It Weren’t So Ignorant, One Could Mourn This Collapse Of Dignity’
“They have begun to do things they clearly don’t really want to be doing, and, to do so, they are (1) abandoning their sense of human dignity and (2) risking the appearance of cowardice.”
Mr. Woo And The Chickens: ‘It’s Not Too Late To Hedge’
“… it is reasonable to think the repricing has not run its course.”
48 Hours Later, Trump Finally Denounces White Supremacists
Ultimately though, we’ll just repeat what we said above: it’s never “too late” to denounce white supremacists, so at least give him that even if you think he’s full of shit.
Long Live The Cow! Goldman Says BTFD Is Safe Despite Crazy Ass VVIX
“But the ratio of the VVIX to VIX reached its highest level in history last week, suggesting that, although vol has remained relatively anchored (Exhibit 28), markets are already significantly pricing the more latent risk that the volatility regime shifts.”Â
JPMorgan: VIX Could Unwind Further, US Stocks Are ‘Outright Expensive’
“We continue to see the risk-reward for equities as unattractive, given that complacency seen in VIX and in HY spreads could unwind further.”
Trump Can’t Believe Merck CEO Is Mad About That Whole Nazi Thing
Just let that sink in. The CEO of a giant corporation just had to resign from a Presidential council on manufacturing because the President won’t come out and say that he doesn’t want the support of the KKK.Â
Professor Who Was Threatened With Rape For Trump Criticism Calls Bullsh*t
“Within hours, invective filled my inbox. I received emails that promised I would be lynched, shot and raped, and Princeton’s department of African-American studies, of which I am a member, was so flooded with hate that the locks on the doors had to be changed.”
If This Is ‘Risk-Off’, What Are You Going To Call A Real Correction?!
“Or at least, you may want to give some thought about what you would do when there is a proper setback – maybe call that ‘risk- offest?'”
You Will Listen While I Talk About That Data From Japan And China
Draw your own conclusions.
Babbling In The Face Of Tragedy
“Not every president does this equally well. But none have been incapable. Until Donald Trump.”
Key Calls (Monday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘Playing With Fire’ – Full Week Ahead Preview
“Deterrence counts on the rationality of the opponents. The build-up of mutual threats and the shows of force in the past weeks have unsettled markets, with risk assets and high-beta currencies underperforming, and it is likely to continue.”
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