How The System Is Rigged

Big Media is the power that sustains the forces of globalism against those of Americanism... "without the unending one-sided assault of the news media, Trump would be beating Hillary by 15 points."

Ganging Up On Gold

Gold remains the asset Wall Street loves to hate. It is currently under pressure due to the recent increase in rate hike odds and there was definitely a need for stale long positions to be cleared out. When we see the mainstream gang up on gold so quickly though, we tend doubt that the bears will be correct. Of course we have no crystal ball either, but we remain convinced that the monetary experiments of recent years will end quite badly.

Oil's Biggest Threat: 'Peak Demand' Within 15 Years?

For more than two years the oil industry has suffered through its worst down cycle since the 1980s; but while oil executives are focusing on survival for the next few years, a much bigger threat looms over the long-term: Peak oil demand.

Can The Market Hang On To Support Here?

It is critical for the markets to “hang on” to current support at the previous breakout highs. A failure to do so will put the markets back into the previous trading range that has existed going back to 2014.

New FBI Docs Expose "Shadow Government" Protected Hillary In Email Investigation

It appears 'The Deep State' has been spotted. newly released FBI documents discuss "a group of very high-ranking officials that some referred to as ‘The 7th Floor Group’ or "The Shadow Government." According to the FBI probe, “[t]his group met every Wednesday afternoon to discuss the FOIA process, Congressional records, and everything CLINTON-related to FOIA/Congressional inquiries.”

Hillary Considered Tim Cook, Bill Gates, Mary Barra, Mike Bloomberg For Vice President, Hacked Email Reveals

Among the Podesta emails released today, one of the more interesting disclosures comes from a March 17 email from John Podesta to, aka Hillary Clinton, which laid out a list of potential Vice Presidential nominees for Hillary. The list of 39 names, "organized in rough food groups,” with regard to their gender, race or career; includes some interesting names...

Saudi Arabia Launches Sale Of 5, 10 And 30 Year Bonds, Seeks To Raise Up To $15 Billion

The most anticipated bond sale of the year has officially started, with Saudi Arabia seeking to sell between $10 and $15 billion in three tranches, a 5Y, 10Y and 30Y offering. Pricing is expected to take place tomorrow, Oct. 19; with the books set to close at 5pm in NYT on Tuesday October 15.  Tentative pricing will be as follows:

Core CPI Remains Above Fed Mandated 2% For 11th Straight Month As Cost Of Living Surges

Consumer Price rises broadly met expectations across the board with headline CPI jumping from +1.1% YoY to +1.5% YoY - the highest since Oct 2014. Core CPI (at +2.2% YoY) has now run 11 straight months above The Fed's mandated 2% inflation target. Once again prescription drug costs rose notably but 'Shelter', 'Rent', and 'Gasoline' costs surged.

Wikileaks Releases Another 1,894 Podesta Emails In Part 11 Of Data Dump; Total Is Now 17,150

The daily dump continues.  In the now traditional daily routine, one which forces the Clinton campaign to resort to ever more stark sexual scandals involving Trump to provide a media distraction, moments ago Wikileaks released yet another 1,894 emails in Part 11 of its ongoing Podesta Email dump, which brings the total number of released emails to 17,150.

Goldman Smashes Expectations As Trading, Prop Revenues Surge, "Average" Employee Makes $322,607

there was little concern that Goldman - the pure-play trading powerhouse (at least until the recent launch of a retail lending and deposit operation) would likewise surpass Wall Street's expectations, and moments ago that was confirmed when Goldman reported EPS of $4.88, smashing expectations of $3.86, as profit jumped 47% from a year ago to $2.1 billion. The profit beat was driven by a 19% spike in revenue which rose from $6.9 billion to $8.2 billion, beating consensus estimates of $7.6 billion.

Frontrunning: October 18

  • Commodity stocks lift global shares, inflation in focus (Reuters)
  • FBI Papers Show State Department Fought Clinton Email Classification (WSJ)
  • Russia Declares Pause in Aleppo Bombing so Rebels, Civilians Can Flee (NBC)
  • Syria rebels reject Aleppo withdrawal after Russian statement (Reuters)
  • UK lawmakers will 'very likely' have to ratify final Brexit deal: government lawyer (Reuters)

Pound Jumps After Government Lawyer Says Brexit Treaty Likely Needs Vote From Both Houses

Shortly after sterling fell to a six year low against the euro, sliding below 1.10 or depths not seen since the March 2010 depths of the European debt crisis, the British currency found a modest respite after comments from a UK government lawyer put Theresa May's "hard Brexit" plans in flux after stating that it is likely that the Brexit treaty will have to be voted on by both houses.

Global Stocks Rebound As Fed Fears Ease, Dollar Falls From 7 Month High

If yesterday's session was marked by concerns about Fed tightening and rising long-end rates, today concerns about a hawkish Fed have subsided, with European, Asian stocks and S&P futures all rising amid speculation Federal Reserve policy will remain accommodative after yesterday's dovish comments by Fed vice-Chair Stan Fischer, as well as weak economic data helped push the US Dollar off its 7 month highs.