Trump: "I Did Not Make Any Comey Tapes"

" I have no idea......whether there are 'tapes' or recordings of my conversations with James Comey, but I did not make, and do not have, any such recordings."

Gauging The Economic Impact Of Uber

Uber has disrupted the ride-sharing economy. However, the government, banks, and taxi monopolists won’t allow Uber to completely put them out of business... at least for the foreseeable future.

Data Says Fed Is Making A Mistake

"While raising rates will accelerate a potential recession and a significant market correction, from the Fed’s perspective it might be the ‘lesser of two evils. Being caught near the “zero bound” at the onset of a recession leaves few options for the Federal Reserve to stabilize an economic decline. In other words, they already likely realize they are screwed."

Sears Canada Announces Bankruptcy; Fires 2,900

It's official - the US 'retail apocalypse' has moved north as Sears Canada (and some of its subsidiaries) have applied to Ontario Superior Court of Justice for protection under the companies’ Creditors Arrangement Act (CCAA), in order to continue to restructure its business.

It Wasn't Just The NSA: Germany Spied On The White House For Years

Germany's foreign intelligence service had long spied on numerous official and business targets in the United States, including the White House. The magazine said it had seen documents showing that the intelligence service, the BND, had a list of some 4,000 so-called selector keywords for surveillance between 1998 and 2006.

Gartman Turns Bullish On Oil

"This morning, given the myriad downgrades that the energy stock analysts have put forth in the course of the past several days and given the severity of the recent weakness we think it is wise to say that for at least a while strength is not to be sold and that for a while weakness is indeed to be bought."

Yield Curve Inversion Looms As Jobless Claims Hover Near 44-Year Lows

With all eyes on a collapsing yield curve and its implications - exposing the dismal reality of US economic growth expectations that The Fed would really rather you ignore - this morning's jobless claims data (at 240k, near 44 year lows) further confirms the historical pattern that suggests yield curve inversion looms...

Qatar Airways Wants To Buy 10% Of American Airlines

Define irony: at a time when Qatar is suffering an economic and geographic blockade, and its sovereign wealth fund is reportedly preparing to start liquidating some of its domestic holdings, moments ago American Airlines announced it has received an unsolicited notice from Qatar Airways indicating an interest in acquiring a 10% stake in AAL, sending the carrier's shares surging 5.6% pre-market.

Frontrunning: June 22

  • European stock markets stumble as oil languishes near lows (Reuters)
  • Some Trump Aides Want a New Leader at the Fed (BBG)
  • Goal of Saudi Shake-Up: Drag Country Into the Modern Era (WSJ)
  • Under fire in Washington, Trump back in campaign mode in Iowa (Reuters)
  • Revenue Slides at Some Trump Businesses, but Vegas Tower Brings Windfall (WSJ)