As London Attacks Unfolded, Trump Was Busy Retweeting Matt Drudge
Of all the media outlets on the planet covering that story as it developed, the President of the United States used his Twitter account to direct 31.1 million Americans to coverage from Matt Drudge.
Guest Post: No Debt Will Ever Be Repaid
“Borrow today and repay later†logic carries an implicit bet on the future. Without an optimistic outlook on the future, there is no lending or borrowing. Debt links the present and the future in a circular way: A prosperous future cannot happen without the present, and the present cannot take off without a belief in (better) future. In this way, the very concept of the future undergoes a transformation in capitalism: It no longer represents a timeline we experience, but a concept we envision.”
Goldman On Trump: “Prospects Have Deteriorated Much More Than We Would Have Imagined”
“Most recent presidents have been able to enact at least one key piece of legislation in their first year, and occasionally two or three before their first midterm election. This year, it appears unlikely that any of the Administration’s key legislative priorities will be enacted by the fall, and it looks increasingly doubtful that any will be enacted in the first year.”
As Short Interest Jumps And Outflows Rise, Bill Blain Warns: “The Amount Of Passive Money Is Scary”
“The liquidity implications of the amount of cash tied up in ETFs are dimly understood. The amount of passive money is scary. Folks might just want it back sometime.”
Alex Jones Will Pay You $1,000 To Buy A “CNN Is ISIS” Shirt From Him & Wear It On TV
“We want you to win and do not want to create a bunch of boring rules.” But there’s a bonus if you shout “Infowars.com”
Deutsche Bank: “Path Of Least Resistance” Is For Everything To Rally
“The conclusion is that the Fed can’t do a lot that appears credible to the market. The path of least resistance is therefore a soggy dollar, low yields and robust equities.”
Guest Post: China Holds The Key To The Financial Future
“Everything’s ok and all the doom and gloom has dissipated, hasn’t it?”
Paris Accord Satire: “Earth Is A Loser Planet – Maybe The Worst In The Solar System”
“Earth is a terrible, very bad planet,†he told the White House press corps. “It’s maybe the worst planet in the solar system, and it’s far from the biggest.â€
Mutual Funds Versus Hedge Funds: Where They Agree And Disagree
Recently, I wrote some stuff about hedge funds and mutual funds. If that’s the kind
Friday Humor: Segregated Parking At Bank Of America
One reader was dismayed this week, when she pulled up to her local Bank of America branch only to discover…
One Strategist Is Sick To Death Of Hearing You Talk About The VIX
“But the VIX is low for a reason. Complaining that it doesn’t show the proper level of “fear” is like complaining that you can’t use a corkscrew to change a bicycle tire: it’s trying to use a tool in the wrong way.”
Chart Of The Day: Retail Jobs “Gap” Now Widest Since Crisis
The “retail apocalypse” story has become so ubiquitous at this point that I’m reasonably sure
Guest Post: “I Love Catching Falling Knives – Don’t Tell My Kids”
“I haven’t seen that much red since I pulled up Fannie Mae’s portfolio in the depths of the great financial crisis. Those are some f’ugly numbers.”
Black Unemployment Rate Falls To Lowest Since 2000; Bannon, Sessions Furious
Well, the May jobs report seems to suggest that #MAGA may be on hold for
Jobs Report Misses Bigly; Dollar, Yields Dive
U.S. May Nonfarm Payrolls Rose 138k; Unemp. Rate at 4.3%
Avg. hourly earnings 0.2% m/m, est. 0.2%, prior 0.2%, Y/y 2.5%, prior 2.5% est. 2.6%
SocGen Throws In Towel On Treasury Forecast, Blames “Trump’s Russia Links”
Do you see what happens when you bet on a shrieking pumpkin with a Twitter addiction?
Here’s Your Last Chance To Preview Friday’s “All-Important” Jobs Report
Let’s “make average hourly earnings great again!”
Nikkei Tops 20,000 On Batshit Crazy BoJ Balance Sheet; Global Stocks Rise Ahead Of Jobs
Well, the Nikkei crossed 20,000 for the first time since 2015 overnight. And really, why
Key Calls (Friday): Upgrades, Downgrades, & Initiations
Are your stocks on the list?
Goldman Presents: “The Good, The Less Good, And The Ugly”
“Against this friendly backdrop in Europe, fundamentals remain weaker in North America despite the recent signs of improvement since 1Q 2016. Relative to the peak in credit quality reached at the end of 2010, median net leverage ratios remain significantly higher while interest coverage ratios are also lower.”
As Trump Exits Paris Climate Accord, Earth’s Days Of Freeloading Are Over
“Absurd big birds in black and white tuxedos. Demanding bears in white fur coats who insist they need floating ice to survive. Maybe they should ditch those luxury garments and try to live like the rest of us”…
Visualizing The Invisible Behemoth
China’s latest efforts to push the yuan higher and stave off any (additional) capital flight
Why One Strategist Thinks “The Dollar Is About To Flex Its Muscles”
“Dollar bulls have had a rough go of it lately. After peaking in early January the greenback’s been on a one way train lower, one of many popular “Trump trades†gone awry. While there may have been a solid rationale for the dollar’s decline, I’d be wary of chasing it here. Conditions are brewing for a revival of the dollar’s fortunes.”
Inside China’s FX Dice Roll
Admittedly, trying to decipher what the fuck is going on in China is a Herculean
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