As Another Trump Associate Gets Jail Sentence, ‘Moscow Mitch’ Readies ‘Sham’ Senate Trial
“Impeachment trials, like most trials, have witnesses.”
Albert Edwards Adds Sellside Bond Yield Forecasts To Benjamin Franklin’s Short List Of Life Certainties
“…the symptoms of a congenital condition so deeply ingrained it will never change”.
So, The Pound Is Plunging. Turns Out A Crash-Out Brexit Is Still In Play
Just another day in geopolitical hell.
Get The Swords, Saudi Aramco Falls For First Time Since IPO
It’s an “exceptional company”.
China Ponders Ethanol Tariff Waivers, Gimmicks To Meet Trump’s Impossible Farm Ask
According to the ubiquitous “people familiar with the matter”…
China Is Still Handing Out Billions In Subsidies To Corporations. And No US President Is Going To Stop Them.
“The Communist Party leadership draws its authority from the distribution of wealth”.
‘Run-Bull, Run’
“Our policy machinery is going full speed ahead”.
S&P 500 Vs. NIPA: The Great Profit Debate
Another “who you gonna believe?” moment.
‘The Brighter News Needs To Be Caveated’: Decent US PMIs Mask Average Economy
Good. But not “great” (“again” or otherwise).
Nomura’s McElligott Explains The ‘QE-Like Stasis’ Of An ‘Everything Works’ Market
So, is there any risk? Well, yes.
Elizabeth Warren Reminds CNBC: ‘There’s No Such Thing As A Government That Works Too Much For The People’
“That’s what a democratically elected government should do”.
Ghastly UK PMIs Underscore Precarity Of Post-Election Economic Outlook
“December’s PMI survey sadly lacked festive cheer”.
Germany Can’t Catch A Break As Manufacturing Slump Refuses To Abate
“A weak end to a difficult year for the German economy”.
China’s November Activity Data Comes In Strong As Industrial Output Rebounds
This may add to the positive trade vibes.
Lots Of Beta, But No Alpha Makes Jack A Dull Boy
A familiar tale, but one worth (briefly) retelling…
Bob Lighthizer To Face The Nation: Friday Was ‘Most Momentous Day In Trade History’
“The president is not foolish, he’s very smart”.
Will 2020 Be The Year ‘Politicians’ Implied Vol’ Finally Overwhelms Central Banks?
“…there have been periods during which volatility has returned, but central banks have largely succeeded in beating back the turmoil”.
Mind-Boggling Local Government Debt Dynamics Should Probably Worry China Watchers In 2020
Much like China’s labyrinthine shadow banking complex, this is a laughably (and notoriously) convoluted setup.
Zoltan Pozsar, Paul Krugman And More Endogenous Money: Macro Tourist’s Weekend Color
“Whenever a novice trader asks me where to start learning, the first thing I tell them is to get a Twitter account”.
Stuart Sparks Details The Ultimate In Ironic, Tragicomedic Fed Outcomes For 2020
“Note that this is not a forecast of recession”…
The Bull That Just Wouldn’t Die
But, you know what they say about the “best laid plans of mice and men”…
Trade Deal ‘Narrower-Than-Expected’, May Limit Yield Rise In ’19, Goldman Says
“This is a narrower deal than we were expecting”.
The Macro Tourist On Endogenous Money
“…when someone tells you inflation will run out of control because of the Fed’s balance sheet expansion, think through the logic of their argument”.
Lighthizer, Kudlow Talk Up Trade Deal As Skeptical Market Questions Farm Math
“…of course China didn’t mention these today”.
Trump Marks Dubious Friday With Impeachment Articles, Trade Fail
A surreal spectacle, but one befitting of the man.
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