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The Billionaire Bears Club

Authored by Kevin Muir via The Macro Tourist blog, I don’t regularly watch CNBC, but last week while on vacation, I turned on the Sirius XM radio and was instantly assaulted with Jim Cramer’s shrieking. I was about to turn the channel when he shouted how the “billionaire bears” might finally be catching a break […]

Stocks, Dollar Bounce On Relief World Did Not End This Weekend

The world did not come to an end this weekend and that's all the excuse markets needed to squeeze higher again…   World did not end – yay! Buy Stocks, Dump Gold…   But bonds and bullion remain the winners since Trump spoke last week…   December rate-hike odds bounced higher today but remain well […]

Dudley Warns “Market’s Rate Hike Expectations Are Unreasonable” Sending Yields, Dec. Odds Higher

One day after the 5th consecutive miss in US CPI, NY Fed President William Dudley threw currency and eurodollar traders for another loop when he said on Monday that it was not “unreasonable” to think that the central bank would begin trimming its balance sheet in September and sees another rate hike this year – […]

Citi Chief Economist Fears “Financial Froth” But Thinks “Fed Tightening Is No Big Deal”

Authored by Valentin Schmid via The Epoch Times, There are few entertaining economists, and fewer still work on Wall Street. Willem Buiter, the chief economist of Citigroup, is one of them. He is not only entertaining, but also outspoken—and his analysis of key economic trends and themes is second to none. The Epoch Times spoke […]

One Trader’s Reality Check “If You Think Last Week Was A Disaster, You May Be In The Wrong Line Of Work”

While the moves in equity (VIX) and credit (CDX, ITRX) protection costs last week shocked many out of their recent coma of complacency, former fund manager Richard Breslow warns it was the lack of reaction across markets broadly that investors should be more worried about. Via Bloomberg, We really need to stop using the expressions […]

Key Events In The Coming Week: Fed Minutes, Retail Sales And, Of Course, Politics

In what should be a relatively quiet, mid-summer week if only on the global economic schedule even as domestic and global political tensions continue to set the general risk tone on any given day, the focus over the next few days will be on US retail sales on Tuesday and Industria Production on Thursday, as […]

Retail Rout Returns (But Don’t Blame Amazon)

Authored by Mike Shedlock via MishTalk.com, JCPenney announced a $62 million dollar loss for the quarter. With the announcement, its share price plunged 16% breaking the $4 barrier for the first time. Stocks under $5 are considered “penny” stocks. This was the worst week for Retailers since Dec 2016… Please consider JCPenney Nosedives to All-Time Low on […]

Passport Global Slammed With Over 60% In Redemptions In Q2

Back in April, we reported that the Long-Short Strategy Fund of John Burbank, one of the handful of investors who made a killing from shorting subprime, and head of what was at the time the $2.4 billion Passport Capital, was shutting down after a series of negative returns: according to HSBC, the fund – which […]