Thursday, bloody Thursday.
Are we there yet?
There’s always tomorrow…
Given the well-choreographed and gradual adjustment, we expect that asset markets will avoid another ‘taper tantrum.'”
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…
“The impact to President Donald Trump’s economic agenda, particularly tax reform, from controversy surrounding comments about protests in Charlottesville can’t be ignored.”
“Buybacks for the largest banks will soar by 45% this year.”
“After many years of consistently high return correlation, the Financials and Information Technology sectors have posted significantly divergent performances twice during the past nine months.”
Full visual tour.
“Right now you’re making money purely on multiple expansion related to policy and I suspect it may be a bridge too far.”
Look, here’s the thing: Goldman has got some shit on their chest they need to get off with regard to upcoming earnings results.
Well, gold plunged $18 in seconds on surging volume (18k contracts in a one-minute window) for no apparent reason, falling from 1,253 to test 1,236, the 200-DMA at around 4 a.m. EST. That’s being chalked up to a “fat finger,” and the follow through for the dollar and yields was readily apparent, with Treasurys diving…
“Still, it’s a mistake for investors to dismiss the threat”…