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.
“JP Merlin” Returns: Quant Wizard Kolanovic Weighs In On Volatility, Geopolitics, And The Fed
He doesn’t have a long, white beard. He doesn’t wear a robe or a pointy
What’s The Best Hedge Against Protectionism? Fund Managers Weigh In
There’s a lot of chatter these days about the extent to which hedging doesn’t make
“Euro Exit Would Ruin France,” More Russian Hacking, And Other Fun Overnight News
“Exiting the euro, presidential candidate Marine Le Pen’s project, would ruin France, Bruno Le Maire, adviser of French Republican candidate Francois Fillon, says on Europe 1 radio.”
Here’s What’s Driving Stocks To Record Highs
“Over the last 3 weeks, US equities have rallied as fund positioning rose, the buyback bid resumed as companies exited blackout periods and US equity inflows returned over the last week. Overall US equity fund positioning getting elevated. Elevated overall positioning reflects that of long-short hedge funds and asset allocation funds.”
Some “Crude” Rambling
Warning: there’s no structure here. Just some stream of consciousness oil market rambling along with some pretty good excerpts from Bloomberg, Reuters, and SocGen. Oh, and there’s a random chart at the end.
Thinking Globally In A World Gone Mad
One of the themes I harp on quite a lot in these pages is the
Saturday Humor (Crazy Like A “Fox”)
Nope, no connection here….
Did The Market Misread The Most Important Event Of The Week?
So we got a hawkish Yellen on Capitol Hill. Or did we?
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