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
Goldman: Here’s How To Play Upcoming Catalysts With ETF Options
“In fact, S&P500 (SPY) 1m implied volatility of 8% is near its pre-sell off level, and most sector ETFs have followed suit.”
SocGen: “Any Shift In Equity Volatility Could Be Ruinous”
“However today, US equity markets and debt markets are at odds with each other, US equity market investors are avoiding stocks with poor balance sheets, yet high yield bond yields are down at historical lows.”
Let’s Listen To Sean Spicer Tell America That Trump “Knows Exactly What ‘Covfefe’ Means”
“A small group of people knew exactly what he meant”…
Albert Edwards: “The Reflation Trade Is Trump-Inspired Fake News”
“The last time volatility in the US bond market was this low (and complacency this high), 10y yields spiked up some 150bp in only four months as part of Bernanke’s ‘Taper Tantrum’. “
China’s “No Bears Allowed” FX Policy Still In Spotlight Overnight
Ok, so the overnight fireworks were largely confined to early Asian trading. As noted last
Key Calls (Thursday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
Yuan Erases Drop, Rises (Again) As China Sets Fix Strongest Since November 10
It certainly looks as though we may get a replay of last night’s session which
4 Black Swans And Why “Trumpflation” Is No Match For The End Of “Xiflation”
Well, SocGen is out with their Global Economic Outlook which, as you may or may
Wednesday Satire: “I’m Covfefe As Fuck, Yo!”
“Donald J. Trump tweeted early Wednesday morning that his practice of sleeping only four hours a day was having no impact whatsoever on his ability to cljjryff.”
Guest Post: Technology & Political Snake Oil
“Their anti-elitist sentiment, combined with their messianic fantasy, which has been running in displaced mode as a war on facts and critical thinking in general, compromised their own resistance to nonsense – they start believing the nonsense they are peddling and ultimately become victims of the snake oil sale themselves.”
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