“All the pollsters have failed”.
Category: Markets
With Risk Assets On Razor Edge, One Strategist Sees Potential Near-Term Catalyst
‘Bleeds’ and ‘sling-shots’.
Hong Kong Turmoil Hits Fragile Sentiment As Flights Canceled, China Cites ‘Terrorism’
“[Protesters] exhibited sings of terrorism”.
China’s Credit Growth Comes Up Woefully Short, Raising Concerns At Critical Juncture
All in all, this isn’t great news.
Goldman No Longer Sees Trade Deal Before 2020 Election, But It’s Not All Bad News
It’s a “fool me once” type of thing.
4 Reasons Why One Bank Thinks A ‘Quick, Major Comeback’ For Stocks Is Unlikely
Maybe later, but not now.
Tail Risks, FX Vol. And Tangled Christmas Lights
But here’s the paradox…
Black Swans Crash Summer Dog Days For War-Weary Markets
Or, at least, gray rhinos.
If Central Banks Fail, Here’s What One Bank’s Clients Will Be Buying
What do you buy if “quantitative failure” comes calling?
The Simple Reason Why The S&P Is Just 3.5% From Record Highs (And Why Gold Is Surging)
Despite the unwelcome turmoil and surging safe havens, stocks are resilient.
Why China Has Actually Been Trump’s Best Friend In Guarding Against Yuan Depreciation
“…it is not clear to us that the labeling-exercise is consistent with the administration’s own craving for CNY strength”.
Former Chinese Central Bankers Say Currency War Risks Rising, Official Warns Of ‘More Measures’
Meanwhile, the People’s Daily is on offense.
August Market Turmoil Proves ‘Bad News Is Good News’ Trading Philosophy Has Limits
Perverse dynamics only persist until their inherent contradiction is exposed.
Meanwhile, In Turkey, Erdogan Purges Central Bank, Gets $1 Billion High Five From China
“Really disappointing”.
Bond Infatuation Nears Record Extreme As Duration Obsession Hits Escape Velocity
For now, anyway, the exit from this self-fulfilling prophecy appears to be blocked.
Trump Shakes Up Markets With Dizzying String Of China, Huawei, Fed, Dollar Comments
“If we don’t that’s fine, if we do that’s fine”.
In Junk Bonds: Exodus
So, is there any good news here?
Italian Bonds Plunge As World Prepares For Effective One-Man Rule In Matteo Salvini’s Italy
It’s a wrap. Italy now belongs to one man.
As UK Economy Posts Shocking Contraction, One Bank Raises Odds Of No-Deal Brexit To 50%
The UK is now one more bad quarterly GDP print away from a technical recession.Â
Bernanke Deputy Kohn: Political Pressure Is Nothing New, But Trump’s Recent Actions Unique In History
“I am somewhat worried that constant criticism could over time undermine public support for Fed independence”.
S&P’s Bloody Week Turns Green, Goldman Cools On Bond Rally And Hope Floats For Stable Yuan
Fingers crossed. “Thoughts and prayers”.
Elections Are Coming: Salvini Pulls Plug On Italian Government At Long Last
It was a long time coming.
Carl Icahn Suggests Trump Is Wrong On Fed, Says ‘Just Cutting Rates Isn’t The Answer’
“If it were that easy, you’d never have these cycles”.
Intervention Imminent? Trump Cranks Up Currency War Rhetoric With New Dollar Tweets
We are now squarely in the throes of a global currency war.
With ‘Crash’ Bets Bid And Downside Risks Lingering, Nomura’s McElligott Talks Possible ‘Quiet’ Period
That said, risks come back into play starting in late August.
Albert Edwards: Maybe Trump Does Have The Upper-Hand On Xi In The Trade War
“What if – take a deep breath – the Chinese authorities are not as in control of events as investors assume”?
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