It appears The Donald is stronger than The Fed (for now). The president-elect's comments that the dollar is "too strong" have accelerated the weakness from his press conference last week, and erased all the "well the dollar is up because the US economy is so strong" gains in the greenback since The Fed hiked interest rates for the second time in a decade...
Following Friday's plunge in bond and bullion prices, dollar weakness (on Trump's comments), Brexit uncertainty, and looming inauguration appear to have sent a ripple of anxiety through capital markets sending Treasury yields tumbling (6-8bps lower across the curve), gold prices soaring (above $1215), and stocks tumbling (Small Caps back in the red for 2017)...
Apple has backed up last year's 20% hike in laptop and computer prices with a sharp rise in app costs. The move will mean - for the first time - that there is price parity between the dollar and the pound as an App Store product that used to cost 79p in the UK will now be 99p. US customers pay 99 cents.
"I dunno about you, but I rather enjoy watching the praetorian Deep State go batshit crazy as the day of Trump’s apotheosis approacheth. I imagine a lot of men and women running down the halls of Langley and the Pentagon and a hundred other secret operational redoubts with their hair on fire, wondering how on earth they can neutralize the fucker in the four days remaining."
Having spiked exuberantly in November and December following Trump's election, Empire Fed's manufacturing survey limped lower in January, missing expectations, and was revised lower as Trumphoria fades.
Korea's Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new plant there - the latest auto firm to announce fresh spending after President-elect Donald Trump threatened to tax imports.
Having plunged to flash-crash lows on Sunday night following leaks of UK PM Theresa May's Brexit speech, cable is soaring this morning as she delivered the speech confirming that both houses of Parliament will vote on the final Brexit deal.
Commence 'pain trade.' Expect there to be significant buy-side performance pain today with regards to the below key “long USD”-linked “US reflation” trades (as quoted above) seeing real capitulatory / unwind flows.
As traders get to the their desks this morning after a 3-day weekend, only to find a market bombarded by a barrage of overnight news from around the globe even as Theresa May is currently delivering her Brexit speech, here courtesy of JPM's Adam Crisafulli is a recap of all the chaos that has taken place so far.
Stocks, bond yields and the dollar fell on Tuesday, while gold rose as investors drew in their horns in response to comments on the dollar from U.S. President-elect Donald Trump and ahead of a speech on Brexit from British Prime Minister Theresa May.
By now we are used to images of snipers on hotel rooftops protecting the world's great-est-and-good-est from the evils of average-joe-ness. But this year it appears there is a new foe - the drone - and a new weapon to tackle that foe.
In a speech that struck all the right platitudes with this pro-globalization audience, Xi Jinping, the first Chinese president to attend Davos, slammed protectionism, voicing his support for free trade, and saying he has no intent to boost China's competitiveness through Yuan devaluation.
Just over a year since Iran captured 10 US sailors - and detained them for around 15 hours - for entering Iranian waters "illegally," it appears America's nuclear-deal-partner wants to make sure its citizenry do not forget...
Responding to Trump's Sunday criticism, Germany's economy minister Sigmar Gabriel said "there is a link between America’s flawed interventionist policy, especially the Iraq war, and the refugee crisis, that’s why my advice would be that we shouldn’t tell each other what we have done right or wrong" and also urged the US to "build better cars" if it wants Germans to buy them.
Every American who looks at the CIA objectively or in a balanced way and judges it by any number of criteria, such as moral, legal and pragmatic, should reach the conclusion that the CIA should be abolished.
20 years after first taking up the game of golf in 1997 - due to basketball injuries - President Obama has worked hard to get his handicap down to "an honest 13," comparable to former golfing presidents as they left office (Nixon 12, Clinton 10, JFK 14). However, there is one thing Obama has them all beat with - during his eight years in the White House he played a total of 306 rounds of golf, more than any other president since Dwight Eisenhower.