Brace For Impact: Full Week Ahead Preview

“While improving manufacturing confidence has recently added to the constructive global risk environment (characterized by dovish central banks, low cross-asset volatility and rising equity prices), a potential increase in political uncertainty in the US may undermine this backdrop.”

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“Political Immunity” And Markets

“Technical factors and central bank liquidity have allowed markets to suspend disbelief.”

Storm Clouds Gather As Trump Headline Risk, Terror Attack Battle Econ Data For Market’s Heart

Well, this market’s mettle is being tested. Again. On Monday evening we got what might fairly be described as the worst kind of double-whammy: a WaPo report containing new revelations about Donald Trump’s attempts to obstruct justice in the Russia probe and a terrorist attack that killed 22 people in Manchester. The knee-jerk risk-off move…

“Sharks In The Sea Of Tranquility” – Looking Ahead

So what did we learn last week? Well, we learned that despite what amounts to an institutionalized policy of suppressing vol, there’s only so much markets can take when it comes to political turmoil. The S&P and the VIX finally met a near-term Waterloo on Wednesday following new revelations regarding what certainly looks like a concerted…

Why You Shouldn’t “Invest” In 3X ETFs: Exhibit “B”

On Friday, people are buying the “Brazil just proved their political crisis is intractable” dip. Fresh off an exceptionally harrowing session that tripped circuit breakers and threatened to plunge the entire EM complex into chaos, the Ibovespa jumped nearly 3% as investors went “bargain” hunting in Latin America’s largest economy. As noted earlier, Michel Temer insists…

“President’s Day”: Iran Is Voting, Brazil Is Panicking, Trump Is Traveling

It feels quiet in America on Friday morning. Maybe that’s because Donald Trump is leaving the country for eight days. Which means that for more than a week, we can all pretend like this nightmare isn’t real. my plane pic.twitter.com/o7jDiam0vP — Trump Draws (@TrumpDraws) February 3, 2017 But it’s actually quiet overseas as well. There’s…

Circuit Breakers Hit, Stocks Plunge, Emerging Market ETF Tumbles As Brazil “In Full Crisis Mode”

Look, I don’t know how closely you’ve followed Brazilian politics over the past three (or so) years, but there for a while it was a complete shitshow. And by “shitshow” I mean it looked like the country was going to fall completely apart amid a collapsing economy, impeachment proceedings against then-President Dilma Rousseff, and corruption…