The "Exit" Problem

"The collective wisdom of market participants is generally 'right' during the middle of a market advance but 'wrong' at market peaks and troughs..."

Stellar 3Y Auction: Highest Bid To Cover Since Sept 2015, Foreign Demand Surges

Unlike last month's ugly 3Y auction, today's just concluded sale of $24 billion in 3 year paper was stellar, stopping through the When Issued 1.934% by 0.2bps, a surge in buyside demand as the Bid to Cover jumped from 2.76 to 3.15, the highest since September 2015, while Indirect Bidders took down the most since August.

CNN And WaPo Working On 20-40 Sexual Misconduct Stories

CNN and WaPo are working on exposing "20-30 congressional members" for sexual harassment, claims Michael Trujillo, former LA City Commissioner and Hillary Clinton's California Field Director during her 2008 bid for the White House.

The Biggest Bubble Ever, In Three Charts

It’s always shocking to see the numbers we’re dealing with, but even more so lately as history’s biggest financial bubble starts to dwarf its predecessors.

Frontrunning: December 11

  • Hotly anticipated bitcoin futures ease off after 22 percent surge (Reuters)
  • Bitcoin Futures Debut With 26% Rally, Trigger Cboe Trading Halts (BBG)
  • Powell faces early test of policy view as tax cuts near approval (Reuters)
  • Small Investors Face Higher Taxes Under Senate Proposal (WSJ)
  • US, Japan and South Korea host joint missile tracking drills (DW)