Trump Wakes Up, Says Migrant Caravan ‘Better Stop’, Says Media Has A ‘Sick Agenda’, Calls Obama A Cheater
It’s 7:00 a.m. ET, do you know where your President is?
It’s 7:00 a.m. ET, do you know where your President is?
“That amounts to 156 months without a recession in the face of a guaranteed bond shock that will take the 10-year benchmark yield to 4.00% and beyond.”
Congratulations are surely in order on Monday.Â
Well, according to the Washington Post, Trump’s life is basically a series of steak dinners with some (very bad) president-ing in between.
“…is arguably the most interventionist, militarist, confrontationist and bellicose national security team ever assembled by a sitting President.”
It was a black day for equities in Asia and Japan was hit especially hard.
“For the past 30 years fiscal deficits have been a big financial nothingburger because the Fed and other central banks gutted their sting.”
“Then again, you haven’t seen nothin’ yet.”
Marko Kolanovic – a.k.a. “Gandalf”, a.k.a. the “half-man, half-God” – has a new note out and it’s great.
“That’s because his newly appointed task will be to dig through Ronald Reagan’s proverbial room full of horse manure to reassure the Donald that there is a pony in there somewhere.”
Completely lifeless.
So that’s amusing and I’m not entirely sure that’s what Trump had in mind. Or who knows, maybe a “very stable genius” has thought all of this through and talked about it with his best friend Xi who “some people call the king of China.”
“But two things are absolutely clear about the “why” of this $15 trillion calamity. To wit, it was not caused by some mysterious loss of capitalist enterprise and energy on America’s main street economy since 1975. Nor was it caused—contrary to the Donald’s simple-minded blather—by bad trade deals and stupid people at the USTR and Commerce Department.”
“I’m a little bit more fatalistic. You know, we have come to accept that financial markets are driven by people and by policies and by personalities. And, what is Chairman Powell going to do? What will President Trump tweet next? As if they were in charge. Well perhaps sometimes they are not in charge.”
But don’t tell any “very stable geniuses” that. Because they might be inclined to try and prove you wrong.
“…what more evidence do you need that the financial markets are completely uncoupled from reality and that these feeble bounces between the 50-day and 20-day chart points are essentially the rigor mortis of a dead bull?”
It looks you’re all The Bruce Dickinson and Gary Cohn is your “cowbell” on Wednesday.
Ignoring this would be “a mistake”.
“The global trading system’s newly activated one-man wrecking crew was at it over the weekend.”
Donald Trump is up and he wants you to know that he’s got trade on his mind.
It’s almost like we forgot who we were talking about for a minute.
“Needless to say, the Donald’s un-varnished, un-vetted and un-shackled thoughts whims on most any topic are a thing of considerable disruptive potential. But when it comes to trade, his mind beats to the sound of a drummer not from this world or even possibly the next.”
Eventually, dumb shit is recognized for what it is.
“The younger of the anchors (age 32) thought the $1.8 trillion was not a problem because the soaring debt and the Fed’s balance sheet shrinkage plan have been well telegraphed and will shock no one. Yes, and as we were tempted to reply, parking on a rail crossing and knowing that a freight train is barreling down the tracks is not likely to forestall the carnage.”
“The Donald seems to think that the 37% gain in the stock market between election day and the January 26th high was all about him, and in one sense that’s true. Donald Trump is all about delusional and so are the casino punters.”
Why yes, the stock market is “an important place for investors to invest.”Â
Let me tell you something about the whole “when do higher yields start to weigh on equity prices?” debate: it’s a dead horse and everyone is going to continue to beat it mercilessly.Â
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