Stocks Super Happy, Oil “Flirts With Collapse,” UK Brexits, France Wonders Why No One Voted
Generally speaking, it was a quiet overnight session as traders look forward to a light
Key Calls (Monday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
Passion Of The Donald: Is Trump The Most Persecuted Man Since Jesus?
I imagine it’s just a matter of time before Donald Trump tweets that he’s “the most persecuted man since Jesus.”
Brexit Negotiations Begin Monday: Here’s Your Insanely Complicated Visual Guide
“A bloody nightmare.”
Full Week Ahead Preview: In Search Of “Missingflation”
Markets will get a well-deserved break from scheduled event risks in the days ahead after
Guest Post: A Hole In The Head Or, The Fetishism Of A Failed State
“It is not difficult to recognize shades of this pattern in the political life of the developed world of the last year. The tide is coming in.”
One Strategist Thinks You Should Ignore The “Prophets Of Doom”
“The Fed’s decision to tighten rates in the face of sluggish growth and limp inflation has encouraged a narrative that they are embarking on a policy error, with the flattening of the yield curve cited as a primary piece of evidence. Upon closer inspection, however, the prognostications of peril appear wide of the mark.”
“You’re Pure Evil”: NY Times Indicts An America That’s Lost Its Mind
“For more and more Americans, the other side isn’t merely misguided in the extreme. It’s evil in the absolute, and virtue is measured by the starkness with which that evil is labeled and reviled. There are emotional satisfactions to this. There is also a terrible price.”
Trump’s Father’s Day Message: It’s A Witch Hunt
Well, it’s Father’s Day and Donald Trump has kids, at least half of which are
This Key Indicator Says A Make-Or-Break Moment Is Upon Us
Yeah so the Citi Economic Surprise Index has become the 800-pound gorilla in the room and it’s not hard to see why – especially when you look at it next to what rates seem to be saying about the economic outlook…
You’re Goldman, And If You Ask You, Investors Need To “Sharpe”n Up
“But many investors are focused on the wrong objective.”
A “Nasty, Sad, Nice, Winner, Loser, Dummy”: Trump In His Own Words
When considered as a single body of work, the President’s two-day Twitter tirade certainly qualifies as one the most ridiculous spectacles ever created by someone who holds public office.Â
The Avalanche
“[An] avalanche is a good example of metastability to keep in mind — a totally innocuous event can trigger a cataclysmic event (e.g. a skier’s scream, or simply continued snowfall until the snow cover is so massive that its own weight triggers an avalanche).”
“This Efficiency Is Surreal”: Low Vol. Is The “Story Of The Year”
“What makes this new ‘efficiency’ almost surreal is that in many ways this year’s market moves are harder to interpret than many past years.”
50% Of CEOs Rate Trump’s Performance “F”: “This Wasn’t A Granola-Eating Bunch Of Democrats”
“This was not a granola-eating crowd of Democrat entrepreneurs. It’s a cross-section of the business community, including some who are quite pro-Trump.”
“Greedy Bastards”: Amazon, Whole Foods Deal “Changes Everything”
“‘Goldman Sachs would love to represent you. If you guys are going to be sold, we’d love to make one hundred million dollars doing that. Don’t forget your buddies at Goldman Sachs!'”
The High Risk Of Low Vol: Complacency, Moral Hazard, & Anxiety Attacks
“Complacency has moral hazard inscribed into it. It encourages bad behavior and penalizing dissent – there is a negative carry for not joining the crowd, which further reinforces bad behavior.”
“Treasurys Will Protect Me From A FANG Sell-Off”: False Millennial.
“The bigger surprise was the complete lack of diversification provided by Treasuries against a 35% decline in tech stocks.”
Kellyanne Conway Says You’d Be Super Excited If She Were “Shot And Killed” On Saturday
“Half of Twitter would explode in applause.”
Meet Rachel Brand: Who Will Head The Trump-Russia Probe If Rosenstein Recuses
And so, with Rod Rosenstein having allegedly told the DoJ’s No. 3 that he may need to follow in Jeff Sessions’ footsteps by recusing himself from the Trump-Russia probe, the question is this: “just who is the DoJ’s No. 3”?
Bombshell: Rosenstein Said To Consider Recusing Himself From Trump-Russia Probe
“Rosenstein, who authored an extensive and publicly-released memorandum recommending Comey’s firing, raised the possibility of his recusal during a recent meeting with Associate Attorney General Rachel Brand, the Justice Department’s new third-in-command, according to sources.”
While You Were Watching The VIX, Credit Did This…
“While the collapse of the VIX to multi-decade lows has garnered headlines recently, implied volatilities on US and European credit indices have quietly reached new lows as well. The one-month at-the-money implied volatilities on US and European credit indices have all collapsed to their tightest levels since 2008.”
Trump Loses Mind, Says Rosenstein Is In On It, Calls Tweets “Very Powerful,” Invents Proper Nouns
“I’m now being investigated for firing the FBI Director by the man who told me to fire the FBI Director!”
“Don’t Gasp”: One Trader Has Had Enough Of Your Bullshit For One Week
It’s Friday and by this point in the week, former FX trader Richard Breslow is
Did Rod Rosenstein Just Threaten The Free Press On Behalf Of Donald Trump?
“Americans should exercise caution before accepting as true any stories attributed to anonymous ‘officials,’ particularly when they do not identify the country — let alone the branch or agency of government — with which the alleged sources supposedly are affiliated.”
Trump Thinks It’s “Sad” You Haven’t Found Enough Evidence To Impeach Him Yet
Have you had your “covfefe” this morning?
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