David Stockman: ‘Trump Is Pointing At The Wrong Bureaucrats’
“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.”
Jim Grant On The Bond Bear Market, Jerome Powell And Much More
“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.”
Trump In Talks With Clinton Impeachment Lawyer Because That’s Something One Does When One Isn’t Worried
Listen, Donald Trump is not concerned about the Robert Mueller probe, ok?
Steve Bannon Shows Up At Marine Le Pen Shindig, Says He’s ‘Honored’ To Be A Racist
Is that right, Steve?
Michael Cohen Is Turning Out To Be Inept At Falling On Porn Star Payoff Grenades
“Which leaves Trump with two options.”
Are Trump’s Trade Wars Fake News?
But don’t tell any “very stable geniuses” that. Because they might be inclined to try and prove you wrong.
David Stockman: We’re All Just ‘Waiting For The Pin’
“…meaning that the morning after is going to bring a truly hellacious hangover.”
The Interview.
Well, what can you say about this week?
Trump’s Lawyers Have (Stable) Genius Plan To End Mueller Probe: WSJ
Yeah, this is never going to work.
Expensive Rug Enthusiast And Ruble Collector Extraordinaire Flagged For Treason By Pissed Off Beard Guy
“Because when you insist on gumming up the works and making Robert Mueller try you in both DC and Virginia, you wind up with two probation officers watching you via two different GPS systems. Womp womp!”
Blankfein To Leave Goldman As Soon As Year’s End
Ok, well Lloyd Blankfein is said to be on his way out at Goldman.
What Wall Street Is Saying About The ‘Goldilocks’ February Jobs Report
In any event, here is some of the early analyst commentary that will of course continue to trickle in throughout the day from whoever hasn’t already headed out to the bar (which is where I would have been by now on a payrolls Friday were this two years ago).
You Will Have To Pry Kuroda’s ‘Very Powerful Easing’ From His ‘Very Cold, Very Dead’ Hands
Any questions? If so, you can direct them to Kuroda’s secretary, Tinker Bell.
Which One Of You Is Buying South Korean Stocks Now That The Nuclear War Has Been Postponed?
News that Donald Trump is prepared to meet Kim Jong-Un for what will undoubtedly be one of the most hilarious photo ops in political history was enough to help Asian shares close the week on a high note.ÂÂ
Kim Jong-Un, Trump To Meet ‘By May’
CHUNG SAYS TRUMP, NORTH KOREA’S KIM WILL MEET BY MAY
David Stockman: This Is ‘The Rigor Mortis Of A Dead Bull’
“…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?”
Steel Yourself.
Headlines aplenty and a man on fire.
Sarah Huckabee Sanders Is Not Your Go-To Gal For Porn Star Payoff Coverups
“To be fair, the case is confusing. Here’s Sarah Huckabee Sanders right after she admitted that her boss was party to a contract that involved a payment of $130,000 to keep a pornstar quiet.”
One Bank Sees Volatility ‘Spilling All Over The Place’
“…volatility across various asset classes can be at times highly correlated and hence the extraordinary growth of short volatility strategies might create risks.”
One Trader Revisits The Inflation Scare Of 2012
“The hawks went ape-shit. They screamed and yelled. They warned about Weimar Republic style hyper-inflation. But Bernanke hung tough.”
Draghi Talks Up Goldilocks, Trims 2019 Inflation Forecast, Ups Near-Term Growth Outlook
Again, those highlighted bits are a clear effort to massage the message – they’re trying to preserve the Goldilocks narrative by telegraphing a still-subdued outlook for inflation while underscoring the near-term upbeat growth picture.
Euro, Bund Yields Jump As ECB Changes Language On QE
This is obviously bond bearish and probably bearish for risk assets as well depending on how Draghi manages the message.
ECB Removes Dovish Slant On QE From Statement
Aaaand it’s gone.
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