Weekend Reading: Oil Slick

For now, 'hope' remains the emotion of choice... "Buy In Haste. Repent At Leisure."

Dear Market, I Think Janet Yellen Broke Up With You Last Week

"Now what has happened in the real world to accelerate the Fed’s tightening agenda, and more to the point, a specific form of tightening that impacts markets more directly than any sort of interest rate hike? What has happened is that the Fed’s reaction function has flipped 180 degrees since the Trump election."

Schaeuble: "The Britons Were Endlessly Lied To And Deceived" On Brexit

Schaeuble said that British people were "endlessly lied to and deceived" in last year's Brexit referendum campaign. The finance minister, speaking on the first anniversary of the Brexit vote, was scathing about the "leave" campaigners who persuaded a majority of voters to opt to quit the European Union.

RBC: The Next Pain Trade Is Coming In 1-3 Months

It’s pretty simple folks - Chinese liquidity injections / “looser” financial conditions = relief rally in Chinese industrial metals on the WTD, which is an ‘inflation expectations’ tailwind.