Stocks, Dollar, Yields Rally On Mnuchin Tax Cut Comments

In a day full of upside catalyst for the reflation trade including the strong TIPS auction, the speculation that the Obamacare repeal effort is back on track, and perhaps best of all the absence of hard data (today's Philly Fed "soft data" was, well, quite soft), the dollar, the S&P and Treasury yields all rose, after Treasury Secretary Steven Mnuchin said that "we are close to bring forward major tax reform", refuting speculation that it may be delayed into 2018.

The Best 'Unknown' Indicator

Even though investors have given up on the Trump reflation trade, this model has not. In fact, it has pushed up to new highs...

North Korea Threatens US With "Super-Mighty Preemptive Strike"

"In the case of our super-mighty preemptive strike being launched, it will completely and immediately wipe out not only U.S. imperialists' invasion forces in South Korea and its surrounding areas but the U.S. mainland and reduce them to ashes."

China Escalates Pressure On North Korea: Crude Oil Supply Halt On The Table

While US and North Korean officials have traded verbal missiles in the past few days, China has been noticably quiet. However, that just changed as a prominent Chinese expert told The Nikkei that China likely will halt crude oil exports to North Korea should Pyongyang conduct its sixth nuclear test, signaling a tougher attitude by Beijing toward its rogue neighbor.

European Close Sparks Dollar Buying Panic

It's unclear what the catalysts for this sudden vertical buying panic is, but minutes after Europe closed, the dollar suddenly went full bid, gold slipped, and Treasury yields rose...

French Stocks Surge Off Technical Support After Overnight Poll

Nothing says existential fear for the EU like buying the f**king French dip on the heels of an overnight poll that simply confirmed expectations that the worst case scenario 'Le Pen - Melenchon' second round was still a significant outlier. French stocks soared 1.7% - the most in 6 weeks - bouncing off the 50-day moving average.

Trump Demands For Border Wall Funding May Force Government Shutdown Next Week

After a week of flip-flops on everything from the value of NATO to labeling China a currency manipulator, moves which quickly earned him the moniker of 'flipper-in-chief' from a disgruntled base, Trump, under internal pressure to show legislative achievements ahead of the 100-day mark, is gearing up for a government shutdown fight to secure money for a border wall, more immigration enforcement officers and a bigger military.

Crispin Odey: "It Feels Lonely Being Bearish"

"A year ago it was easy to be bearish. China was slowing, world trade was creaking, Europe was not recovering and the oil price was hitting new lows. A year later to be bearish feels lonely... When we look back at this madness, some people will feel ashamed. Twisted facts and twisted logic may be met in the quiet of the night by reality. "