Behold The Story Count Death Cross: ‘Deflation’ Edition

“But in April the reflation story began to lose steam (as Trump trades faltered). Such has been the reversal that last month, ‘deflation’ once again surpassed ‘reflation’ as the trending story.”

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Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk

Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone long risk at these levels. A day after Mario Draghi took what certainly seems to have been a hawkish turn by saying the ECB would “look through” lackluster inflation data, the euro hit a 1-year high: “Macro accounts jumped on…

Chart Of The Day: Asset Prices In The Trump Era

See if you can spot what’s still hanging on for dear life at record highs/tights despite lackluster incoming data and central bank tightening…

SocGen’s Big Call: It’s Time To “Make Reflation Great Again!”

“Our reading of the US situation is that, while persistently worrying at the political and diplomatic levels, it is close to Goldilocks at the economic level. The sub-2.5% GDP growth allows the Fed to tighten “only” moderately, and this is a clear burden to the US dollar and a trigger for risk-taking elsewhere.”

4 Black Swans And Why “Trumpflation” Is No Match For The End Of “Xiflation”

Well, SocGen is out with their Global Economic Outlook which, as you may or may not be aware, usually includes a picture of a bell curve with some swans on it. I’m skeptical that anyone actually reads these things. As Reuters wrote earlier this year, “about 40,000 research reports are produced every week by the world’s…

It’s Official: “We Can Lay The Trump Reflation Euphoria To Rest”

“Still, when confronted with a choice of positioning for mean reversion or extremes to get more extreme, given the current level of market uncertainty I’ll choose the first one every time.”

Everything You Need To Know For The Week Ahead

Well, it’s Sunday which means normally, you’d be thinking about Monday, but this weekend you don’t have to because Sunday is actually Saturday and Monday is actually Sunday. Someone forgot to tell North Korea though, because they just launched another missile. Kim will be disappointed to find out that no one in the US got…

“Here Today, Gone Tomorrow,” One Trader Indicts A “Sheep-Like, Cynical” Market

“Last week it was, U.S. is cratering, the legislative agenda is dead, China is tightening at a dangerous rate and Brazil will take down the emerging market complex. So far today, and it’s only Monday, global growth is accelerating, corporate profits are great, China knows exactly when to ease off the decelerator, PMIs are a source of strength not worry.”

“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…

Assuming You Think America Is Still A Democracy, Here’s How To Think About Markets & Trump

“In a democracy like the US the main impact of elevated political uncertainty is higher risk of inaction”…

“It’s Funny Because It’s Treason”: Global Markets Jittery As Trump Makes New Lows

We start Tuesday on a treasonous note… So because he’s President, Donald Trump gets some intel. And, at least according to some sources, Trump is often surprised at just how “great” the intel is. And it turns out that maybe – just maybe – he got a little too excited when bragging about that tremendous intel to…

“Prepare For Excitement!” One Trader Thinks Higher Oil Prices Will Save Us All

Prepare for another round of “reflation trade” excitement…

Reflation Is Dead, Long Live Reflation

“Just don’t call it the reflation trade or your portfolio allocation may be misaligned to reality.”

Contagion Warning: “There’s Nowhere Really To Hide” As Bloodbath In Commodities Continues

Oh, boy. Well, it got worse for the beleaguered metals complex overnight. After a harrowing Thursday collapse, iron ore fell again in China, as futures in Dalian dove nearly 5% and the SGX AsiaClear contract (Singapore) headed for a 12% loss on the week, the largest since November. Nickel racked up more losses, falling a third day as concerns…

Sunday Humor: “None Shall Pass (Through)”

“Come Patsy”…