Euphoria (‘Cough – Don’t Do It’)
It’s kind of like going to a wedding reception and telling one of the newlyweds that the person they just married is a pathological liar or that getting married was a terrible idea in general.
The Most Overpriced Asset In The World?
“…they turned on poor Hugh like a pack of rabid dogs.”
So When Will Trump And The Right-Wing Media Apologize To Susan Rice?
“So much for this faux scandal. There is, of course, no chance that Nunes,Trump, the right-wing media or anyone else will apologize to Rice for impugning her integrity. “
Watching Paint Dry. Illogically.
As one reader put it earlier today, “is just being open for trading” a good enough reason for stocks to rally?Â
Behold: Another ‘What Could Go Wrong?’ Scenario…
Oh good! Another “what could go wrong” moment.
Valueless Valuables.
Ok, I’m feeling like today is a day when I should try and vex as many readers as absolutely possible, and there’s no better way to maximize the hate mail than to deride gold and Bitcoin in the same post.
Waving Goodbye To Our $4.5 Trillion Friend…
Nothing profound, just a retrospective as we wave goodbye to our $4.5 trillion friend…
‘Chickens Wanted For Epic Showdown’: Rates Vol., Gamma Are Too Cheap!
“…game theory suggests that the North Korean leadership has a strong incentive to bring forward the final phase of the Game of Chicken.”
WSJ Thinks Maybe It’s Bad Idea For Jeff Sessions To Seize Your House
“In practice, it means property can be taken from people without due process or criminal culpability.”
Who’s Afraid Of ‘Rocket Man’?
She packed my bags last night pre-flight;
Zero hour nine AM;
And I’m gonna be high as a kite by then…
Key Calls (Monday): Upgrades, Downgrades & Initiations
You need an upgrade.
Bitcoin, Cryptodollars, Gold, Seedy Saloons, Gunfights, And Wampum
“It’s the millennial’s wild west. Like all generations, they’ve discovered a new frontier, with few rules, seedy saloons, gunfights, corpses. As our earthly unknowns disappear, we find new ones in the ether. “
Janet. Fed Preview
Good luck out there – your fate rests on the shoulders of a diminutive economist with a pixie cut…
You May Have Had A Better Week Than Some Quants
…it’s fair to ask if maybe the CTA crowd had a bad week. Because long Treasurys and short USD wasn’t exactly how one would have wanted to be positioned ahead of the “no apocalypse” risk rally that saw 10Y yields rip 18bps higher off the previous Friday’s lows while the dollar put in one of its best five-day stretches of 2017.
The Biggest Bubble Of Them All: ‘Work’
“Work is gradually emerging as the biggest hoax in the history of humankind.”
Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies
If the crypto crowd wasn’t already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing’s ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he’s calling a “fraud” that’s destined to “blow up,” they can now add the B.I.S. to their list of adversaries.
Here’s ‘The Friendliest Lawsuit Ever Filed Against The FBI’
“Last month, I sued the Justice Department in what I described as perhaps the friendliest lawsuit ever filed against it. Yesterday, I filed an equally friendly suit—this time against the FBI.”
‘People Are Scared To Put Money In’ – Qatar Stocks Extend Horrific Slide
“…investors did not take the remarks as a sign that the dispute was moving closer to resolution.”
Trump Calls Korea, Asks About ‘Rocket Man’ Then Drives Golf Ball Into Hillary Clinton’s Back
Pennywise, the orange clown President is back.
‘You Are Here.’ Questions?
The thing about being irrational is that it’s always better to just admit that’s what you’re doing up front and then quickly double down by exclaiming that you plan to keep being irrational right up to and until being irrational stops being profitable.
Scarborough: With Trump, It’s Never Over
“If Trump’s political career is ever brought to an abrupt end, it won’t be because a few right-wing carnival barkers found themselves unable to pressure the president into adopting a policy position — expulsion of the dreamers — that is supported by only 12 percent of Americans.”
‘If You Invest Now’ There Is A One Third Chance You Will Lose 20% Within 2 Years
What does history say?
The Doom Loop Is Back: ‘VIX ETP Risk’ Hits All-Time High
“This vega-to-buy is at a record highs, almost doubling since mid-July on inflows to short VIX ETPs.”
Bernie Sanders Wants To Join The Modern World On Healthcare – But ‘Don’t Worry’, Trump Won’t Let Us
“This is a pivotal moment in American history. Do we, as a nation, join the rest of the industrialized world and guarantee comprehensive health care to every person as a human right?”
‘Aaaaand, There It Is’: Letters On The Confederacy From Ben Hunt’s Mailbag
“We are ALL being played. Including JD.”
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