"It was just a normal traffic stop..."
Significantly more companies are beating consensus estimates by at least 1 std dev and fewer are missing. However, just like last week, beats are not being rewarded (via outperformance) and misses are getting punished.
It comes after prosecutors wrote that the order of items within a box was ‘not the same’ as digital photographs of materials raided from Mar-a-Lago by the FBI.
- Equities are entirely in the green; Apple -1.1% is lower pre-market after Berkshire Hathaway decreased its stake in Q1
- DXY is flat, EUR unreactive to PMIs & USD/JPY holds just under 154.00
- Bonds are modestly firmer, with initial upside in Bunds trimmed slightly by large upward revisions to EZ PMIs
- Crude is firmer with Rafah in focus, XAU is bid and base metals benefit from the risk tone
- Looking ahead, US Employment Trends, Comments from SNB’s Jordan, ECB’s Lagarde, Fe
The new directive is expected to provide coverage to approximately 100,000 immigrants next year.
...the search for loopholes to achieve the racial balancing they deem ideal for the shaping of society continues.
"Bitcoin peaked on the day when market flipped from pricing in more cuts to less cuts than the Fed... the good news is that “tail risks” of Fed hike & JPY collapse now lower after Fed “eased” (less QT) & Japan spent $55bn to support FX."
Saudi Arabia and its allies in OPEC⁺ are likely to keep oil production unchanged for a further three months when ministers review output allocations on June 1.
The detailed engineering plans for the new bridge are still under development...
'We need to do something about our national debt or the dollar will be worth nothing...'
Spirit is alleging that Paxton's demand for internal documents and other information is unlawful, and violates their right against unreasonable search and seizure.
Biden plans to reduce inflation by raising costs, producing less electricity when more is needed, force people into EVs without a capable grid, and pipeline "captured carbon" when the pipelines don’t exist. It’s so stupid even some Democrats are concerned
The latest CFTC reading shows yen bears trimmed positions for the first time in seven weeks, but they only cut back by 11,531 contracts — less than the shorts added in the prior week to April 23!
"His pupils were dilated. His heart was pounding..."
The resolution starts with the falsehood that such prohibited treatments have 'proven to be evidence-based, medically necessary, and lifesaving.'
One justice disagreed with the prosecutor’s reading of the law...
As such, as we clear these macro hurdles and move into a robust micro catalyst window (conferences, analyst days & off-quarter earnings), it wouldn’t surprise me if the sector re-tested the highs...
We won’t see a smooth and gradual transition from “no landing” to “soft landing”... we will jump from “all good” to “all is not-so good” rapidly because we have been ignoring data...
"This is the most remarkable human achievement ever, 1600 feet of high-speed rail after 9 years and 11 billion dollars."