Gartman: "We Covered Our Short"

"Considering that the passage or non-passage of the health care legislation was a veritable coin toss circumstance we moved to cover those short derivatives positions early in the day and took to the sidelines. We remain there this morning."

Frontrunning: March 24

  • Trump Says If Vote on Health Bill Fails, Obamacare Stays (WSJ)
  • Risky House healthcare vote to test Trump's negotiating skills (Reuters)
  • Trump Dares GOP in High-Stakes Vote on Troubled Health Bill (BBG)
  • All drill, no frack: U.S. shale leaves thousands of wells unfinished (Reuters)
  • Twitter explores subscription-based option for first time (Reuters)

Trump Approves TransCanada's Keystone XL Pipeline

It's official: moments ago TransCanada said the U.S. Department of State issued a presidential permit for the construction of the Keystone XL Pipeline, ending a multi-year controversial, at times acrimonious debate over the future of the pipeline linking Canadian oil sands to U.S. refiners.

Biggest US Equity Outflows Since Brexit; US Banks Hit The Hardest

The latest evidence that rumors of Trumpflation trade's death are not greatly exagerated came overnight from Bank of America which reported that based equity funds saw net outflows of $8.9 billion, the largest in 38 weeks. The most impacted sector was, not surprisingly, banks - the biggest beneficiary of the post-Trump election victory rally, which suffered the biggest outflows in over a year.

Russia Unexpectedly Cuts Interest Rates For The First Time In Seven Months

The Russian Central Bank surprised markets when it unexpectedly cut interest rates by 25 bps to 9.75% (30 economists expected no change, 8 predicted a 25 bps cut), its first rate cut in four meetings or 7 months, as inflation, which has dropped from a peak of 17% to just 4.6% last month, appears to be under control.

All Eyes On Washington: US Futures Rise On Hope Healthcare Vote Will Pass

Asian shares and S&P futures rose on optimism that today's rescheduled U.S. vote on health care will pass following Trump's Ultimatum to the Freedom Caucus. European stocks gave up some of Thursday’s gains, falling for the fourth time in five days, and moving further away from a 15-month high reached a week ago while the yen weakened for the first time in nine days.

NSA To Provide "Smoking Gun" Proof Obama Spied On Trump

"Republican congressional investigators expect a potential “smoking gun” establishing that the Obama administration spied on the Trump transition team, and possibly the president-elect himself, will be produced to the House Intelligence Committee this week."

Swedes Begin Construction Of Police Fortress In "Little Mogadishu"

In 2014, they had to close down the Rinkeby police station, as it had originally been built for an all-Swedish community, where the main job of policemen is to look for lost pets and help old ladies cross the street. The new police station, which is being built under heavy security and is scheduled to open in 2019, will cost over $40 million...

16 Years Of European Terrorism In One Chart

Europe has suffered many Islamist terrorist attacks in recent years, but before the assault on Charlie Hebdo, only two of them caused more than ten deaths: the Madrid train attack in May 2004 and the London tube and bus bombings 14 months later. Since then, and the beginning of the global 'war on terror', things have become exponentially worse...

Russia Warns Norway Over Missile Defense Plans

Norway's possible accession to NATO's missile shield "will be a new factor that will be considered in our strategic planning as the emergence of an additional problem in the Arctic region."

America's #1 Again (In Healthcare Costs Around The World)

While the American Healthcare Act, President Trump’s first major legislative effort, is going to a vote in the House of Representatives on Friday - no matter what; for many years now, the American healthcare system has been flawed.

Six Dangerous Leftist Concepts

The left is intrinsically conflict-mongering. It always existed against a particular state of thing, whether real or fantasized. As long as people are entrapped into positive words masquerading and fostering grim realities, Leftism retains its grip over their minds.

A New Trend Emerges – Digital Gold "Gifting" Gains Popularity In China

Tencent’s digital gold packets, known as "microgold", are backed by the country’s biggest bank, Industrial and Commercial Bank of China (ICBC). They allow users to send funds that track the real-time value of gold to friends over the firm’s popular messaging platform WeChat.

Thursday Humor: Medicare Part G?

"If you are an older senior citizen and can no longer take care of yourself and need Long-Term Care, but the government says there is no Nursing Home care available for you, what do you do? You may opt for Medicare Part G."