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Stocks, USDJPY Jump On Trump Tax ‘Phasedown’ Comments

It appears the algos have their ‘tax’ sensitivity turned all the way to 11… A brief Bloomberg headline stating no new news at all – confirming that Trump’s policy framework did not include a ‘phase-in’ period for corporate tax cuts – has sent USDJPY spiking and thus stocks rallying… *TRUMP SAYS `NOT LOOKING’ AT PHASEDOWN […]

Pat Buchanan Exposes “That Other Plot…” To Bring Down Trump

Authored by Patrick Buchanan via Buchanan.org, Well over a year after the FBI began investigating “collusion” between the Trump campaign and Vladimir Putin, Special Counsel Robert Mueller has brought in his first major indictment. Trump campaign manager Paul Manafort has been charged with a series of crimes dating back years, though none is tied directly […]

Average U.S. Home Is Selling After Just 3 Weeks On Market; Fastest Pace In At Least 30 Years

Earlier today Bloomberg shared their thoughts that recent data released by the National Association of Realtors (NAR), namely the fact that homes are sitting on the market for a record low average of just 3 weeks before being scooped up, pointed to a devastating shortage of housing inventory for sale.  Here was Bloomberg’s take: Here’s […]

Crude Oil & Exxon testing long-term breakout levels

Crude Oil has been moving higher of late, putting it at a price point that looks to be important from a long-term perspective. Below looks at Crude Oil over the past 10-years and how it is facing a key breakout test on Halloween- CLICK ON CHART TO ENLARGE As mentioned above, Crude Oil is kissing […]

‘Value Investing’ Deadpool

Authored by Kevin Muir via The Macro Tourist blog, I sure hope Julian Robertson is a Ryan Reynolds fan. And although I doubt the MacroTourist Letter is on the legendary hedge fund manager’s daily reading list, if he happens across this post, Julian (and the rest of you on the board) – know it was […]

Trump Calls On Podesta Bros To “Drain The Swamp” By Revealing “Earth Shattering” Dirt On Dems

As the mainstream media circus ran wild with the Paul Manafort indictment yesterday, Trump, who repeatedly dismissed the charges as being unrelated to his campaign, has just tweeted that the biggest story revealed yesterday, a story which was largely ignored by the “fake news”, was Tony Posesta’s sudden resignation from the powerful lobbying group that […]

Mylan Shares Tumble On Generic Drugs Collusion Probe

Mylan’s second-highest-ranking executive, Rajiv Mailk, is the target of a civil investigation by dozens of states conducting in a widespread, multiyear probe into alleged price collusion by makers of generic drugs.   As Bloomberg reports, state attorneys general said they’re seeking to sue Rajiv Malik, Mylan’s president and executive director, as part of an expanded complaint […]

Home Prices In All US Cities Grow Faster Than Wages… And Then There’s Seattle

According to the latest BLS data, average hourly wages for all US workers rose at a respectable 2.9% relative to the previous year, if still below the Fed's "target" of 3.5-4.5%, as countless economists are unable to explain how 4.3% unemployment, and "no slack" in the economy fails to boost wage growth. Another problem with […]

Bitcoin Surges To New Record High As CME Launches Bitcoin Futures In Q4

As the mainstream continues to embrace cryptocurrencies – much to the chagrin of Jamie Dimon et al. in the establishment – CME Group is "responding to client interest" and launching a Bitcoin Futures contract in Q4. CME Group says new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves […]

The Ethics Of Halloween

Authored by Caleb McMillan via Mises Canada, Every Halloween people are engaging in free-market anarchism whether they like it or not. To the economist, it’s clear that the child values receiving candy, even if it means dressing up in a funny or scary costume and going door-to-door, sometimes for hours, saying “trick or treat”. It’s […]

American’s Consumer Confidence Highest Since The Peak Of DotCom Bubble

The animal spirits among American consumers has not been this 'high' since the year 2000… The only time in US history that confidence was this high… was the dotcom bubble… but it's different this time…   With the Mountain Region surging to Dec 1999 record highs… “Consumer confidence increased to its highest level in almost […]

Chicago PMI Surges To Highest Since March 2011 (As Employment Falls)

Another day, another 'soft' survey shows improvement. Following Dallas Fed's surge yesterday, Chicago PMI printed a dramatically better than expected 66.2 (60.0 exp) – the highest since March 2011. This print is above the highest estimate (forecast range 58 – 64.7 from 31 economists surveyed) and is a 4 standard deviation beat… To the highest […]

CME To Launch Bitcoin Futures In Q4

As the mainstream contonues to embrace cryptocurrencies – much to the chagrin of Jamie Dimon et al. in the establishment – CME Group is "responding to client interest" and launching a Bitcoin Futures contract in Q4. CME Group says new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves […]

Less Than Meets The Eye To Nasdaq Rally?

Via Dana Lyons' Tumblr, On an equal-weight basis, the Nasdaq 100 just dropped to a relative all-time low. There are many ways to measure the level of participation, i.e., the number of stocks that are taking part, in a stock market rally. One way is to look at the market’s “internals”, e.g., advances vs. declines, […]

Puigdemont Claims He’s Legitimate President Of Catalonia, Not Seeking Belgian Asylum

Having fled to Brussels to escape rebellion charges and perhaps a lengthy prison sentence, Catalan (ex?) leader Carles Puigdemont, who quietly fled Catalonia over the past few days, held a press conference at the Brussels Press Club. Puigdemont said that the Catalan government sees the upcoming regional elections, called after the imposition of Article 155, […]