Gold prices closed on Obama's inauguration day at $857.25 per ounce. Exactly 12 months later on January 20th, 2010, gold had risen to $1,111.05/oz for a gain of nearly 30% in the first year after Obama’s inauguration.
"Shorting has been hard this year ... So despite what I think, we are beginning to close parts of our short book. We have largely exited airline related shorts. We have also closed staple shorts, as they were largely there to protect against a fall in yields, which they did to a degree. We have also closed many developed financial shorts to make some space for Chinese financial shorts."
Russian foreign ministry spox Maria Zakharova slammed "Obama and his illiterate foreign policy team" saying they "have dealt a crushing blow to America's prestige and leadership" and described his administration as "a bunch of geopolitical losers, enraged and shortsighted." Zakharova added that "Obama's administration still has a few days left to destroy the world."
"The only question that really matters in this business is this: What’s the next big move? It’s probably a continuation of the Trump trade"... But "the thing is, consensus trades have a nasty habit of working, just not exactly when you want them to"
After the overnight report previewing Theresa May's Tuesday speech calling for a "clean and hard" Brexit, cable has plunged to under 1.20 in very early (and illiquid) AsiaPac trading, the lowest level for sterling relative to the dollar since the October flash-crash. And, as DB warns, a full Brexit would be "consistent with GBP/USD at 1.06 or EUR/GBP close to parity respectively."
Mission 'accomplished' fear-mongers!! The most worrying issue in the US is terrorism. Isn’t that a hoot? How many in the US have died from terrorism? How much terrorism has the US sponsored in other nations, including its own drone policy?
Outspoken Trump supporter and Silicon Valley billionaire Peter Thiel is reportedly considering a 2018 bid for California governor. While Politico reports close Thiel friends are skeptical, the deeply-private entrepreneur's rare interview with the New York Times’ Maureen Dowd raised eyebrows and Thiel has conspicuously yet to rule out a bid.
According to Tom Lee, 2016 was the year with the fewest number of days that saw the S&P drift more than 3% away from 52-week highs: "2016 (we do 2016 after 2/11/2016, since early part was a continuation of 2015 selling) saw only 7 days - that is the lowest ever."
According to the Sunday Times, on Tuesday U.K. Prime Minister Theresa May will call for a “clean and hard Brexit’’ saying she’s willing to quit the European Union’s single market to regain control of Britain’s borders and laws. The prime minister’s staff have warned that her words would likely cause a “market correction” that could lead to a fresh fall in the pound.
"Returns will likely do worse under the new administration than under the departing one, and where exceptions to this may be. That statement is linked to a simple idea. Good market environments often involve a shift from economic despair to optimism, and a shift in psychology from ‘fear’ to ‘greed’. Both occurred over the last eight years, producing returns well above the long-run average."
On January 12 the Clinton Foundation's Veronika Shiroka advised the DOL that as part of a "Plant Layoff" it would layoff 22 workers on April 15, with reason for the dislocation stated as "Discontinuation of the Clinton Global Initiative."
"...there is an outside source, which we refer to as a deep state or a shadow government. There is a lot of influence by people that are actually more powerful than our government itself, our president and on up." ... "No president since John F. Kennedy has dared to take on the CIA or the rest of the national security establishment..."
Why aren't Millennials investing in the stock market? Why aren't they starting families and buying houses? Why are they living in their parents' basements well into their thirties? Why don't they just... spend? Here is the answer.
It appears The New York Times' flip-flopping, hate-mongering, fact-twisting, Keynesian poster-boy Paul Krugman is not coping well with hearing "no" and being ignored, and his tirade last night in Twitter has us gravely concerned for his mental stability, which is ironic given how he began yesterday...
Update: so much for that. According to Reuters, two top aides to President-elect Donald Trump denied a published report on Saturday that he is planning to hold a summit with Russian President Vladimir Putin weeks after taking office. The Sunday Times of London reported that Trump had told British officials that such a summit was being planned, possibly to be staged in the Icelandic capital of Reykjavik.