Glass Half-Full Or Half-Empty? Previewing Today’s Big Event
“It’s unclear to me how we get from the dovish statement released three weeks ago to a hawkish retelling of the event. But that’s what seems to be on people’s minds.”
“Le” Screwed: Markets Nervous Ahead Of Fed Minutes As Bookies Put Le Pen’s Chances Even With Rivals
“Good morning.” And also: “I told you so.” This whole idea that because Marine Le
Key Calls (Wednesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
Full-Junk-Bond-Retard: Company Taps Debt Market To Pay $30 Million Golden Parachute
Investors are now so desperate for yield they’re willing to (literally) pay for obscene golden parachutes…
Crazy Vs. Crazy: Are Things Really More “Uncertain” In Europe Than They Are In The US?
How can a market “take into consideration all potential future events”? Obviously it can’t. That’s absurd. That said, stocks should be expected to discount what we might call “known unknowns.” That is, events that we know are likely to cause turbulence but that also admit of some indeterminacy regarding outcomes. Things that would fall into that category include the French elections and US tax reform.
Chart Check (A “Rigged” Market)
“Stronger oil demand to end 2016 helps to accommodate slightly higher US oil supply, but we see downside risk to our WTI forecast of $55/bbl in 2018 if our upside case for US supply growth plays out all else equal.”
Thrilling Video: Chasing The Equity “Bull” Market
This is what happens when you short a raging bull market and have to frantically cover on the way up…
Stocks May Be Asleep, But Credit Is Passed The F*ck Out
Morgan Stanley has been warning about richness in credit for months and I’ve often cited their analysis in my own posts. Indeed I’ve said repeatedly that when it comes to tranquil markets and rampant complacency, there’s no asset class that looks more dangerous than credit.
Chart Check: Politics At Work
This is what happens when political risk trumps economic data…
Former Swedish PM Mocks Trump, Cites “Alternative” Murder Facts
Well, it look like “what happened in Sweden” might well surpass “Frederick Douglass is an example of somebody who’s done an amazing job,” on everyone’s top 10 list of dumb sh*t Donald Trump’s said.
“You’ll Like It Too!” Ireland Now Less Risky Than France
Tired of sticking around in OATs as spreads to bunds balloon and Marine Le Pen’s chances of becoming President tick higher taking us ever closer to a French redenomination event and subsequent €1.7 trillion sovereign default?
One Trader Doesn’t Get Why You’re So Damn “Punchy” This Morning
” The rest must have done some people good, because the feel of the market is a bit punchy as we start out of the gate. I’ve no strong explanation why”…
Dollar On A Harker High, European Economy Hums Despite Political Turmoil, Kuroda Continues To Confuse
Well, that escalated quickly. It wasn’t hard to predict what would set the tone overnight.
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
An ETF Disaster Waiting To Happen
I’m a broken record on a whole lot of things and corporate bond market liquidity
“Dude, Stock Market Selloffs Are Rare!” – No, They’re Not
“Large equity drawdowns are more common than you might think”…
Guy Who ‘Isn’t A War Hero’ Is Really Pissed Off At Donald Trump
“They would be alarmed by the hardening resentment we see toward immigrants, and refugees, and minority groups, especially Muslims. They would be alarmed by the growing inability, and even unwillingness, to separate truth from lies.”
A Billion Barrel Bet
You know, sometimes you just have to laugh. Or shake your head. Or, my personal favorite, pull a Captain Picard…
Chart Check (“This Should Be Fine”)
Compare and contrast…
Markets To Trump: “Show Me The Damn Money, Already”
Is the White House serious about tax reform and fiscal stimulus, or was that all bullsh*t designed purely to get the President elected so Steve Bannon could implement his social agenda and promote nationalism?
“Alternative Fact”: 40% Of US Companies Are Losing Money
It’s “remarkable”…
“Listen! Do You Smell Something?” Canaries In The Coal Mine
“So on a morning of relative calm with S&P 500 futures trading at all-time highs, I thought I’d take the opportunity to focus on a few potential canaries in the coal mine of risk-on to watch.”
“Run-For-Your-Life Affair” Continues In France, Fed’s Mester Hints At Hikes, US Vacations
“This weekend was an all-out, run-for-your-life affair.” That’s from Yves-Marie Cann, head of political studies at
Two Charts & One Word
Spread the “love.”
Twitter Goes Crazy, Sweden Demands Answers After Trump Makes Up Terror Attack
“If only Frederick Douglass had been in Sweden when that terrible terrorist attack didn’t happen.”
Here’s What’s Coming Up For Markets
“Don’t be fooled by the the holiday-shortened trading week in the US. Next week promises to give investors plenty to watch, including the Greek bailout, minutes of the Federal Reserve’s last meeting, Bank of England governor Mark Carney’s testimony, retail earnings and Warren Buffett’s annual letter.”
Behold: A Sad, Sad Spectacle
That, right there, is why this is all so f*cking sad.
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