Classified Bombshell Hyperventilation

There has has been a steady stream of nonsense all night regarding Trump’s alleged disclosure of highly classified information to Russia...

Goldman Turns Less Confident On June, September Rate Hikes

"the risk to our near-term funds rate view is now slightly greater, largely because the range of plausible outcomes has widened. We have shaved our subjective odds of a June rate hike to 80%, from 90% earlier, and have also become a bit less confident in a September hike" - Goldman

Housing 'Recovery' Stumbles As Starts, Permits Plunge In April

After a big plunge in March (it's the weather, stupid), Housing Starts were expected to rebound in April... but did not! Starts dropped 2.6% in April, after March's 6.6% drop. Building Permits also tumbled 2.5% MoM - also multiple standard-deviations below expectations.

Murdered DNC Staffer Seth Rich Was In Contact With Wikileaks Says Former DC Homicide Detective

In the aftermath of the Seth Rich shooting, his family hired a private investigator, Rich Wheeler, a former D.C. homicide detective who says evidence on Seth Rich's laptop suggests he was in contact with WikiLeaks prior to his death. Of note, Wheeler does not have possession of the laptop in question - however he said specific information will be released on Tuesday

Odds Of Trump Still Being President In 2019 Hit Record Lows

From a recent high of 75%, the last few days - before FBI Director Comey was fired and Trump allegedly spilled the beans to the Russians - the odds of Donald Trump still being President at the end of 2018 have tumbled to record lows...

Frontrunning: May 16

  • Trump Says He Has ‘Absolute Right’ to Share Terrorism Facts with Russia (WSJ)
  • Russia's response: don't read U.S. newspapers (Reuters)
  • How the Democrats Are Trying to Beat Back Trump (BBG)
  • Trump to Join Pence in Disclosing 2016 Financial Information (BBG)
  • Clue in Ransomware Cyberattack Points to a Group Linked to North Korea (WSJ)

Hedge Funds Pile Into Just Six Tech Stocks

With an average gain of 26% , it’s hard to overstate the influence of just six stocks on the U.S. stock market in the first quarter: Facebook Inc., Apple Inc., Amazon.com Inc., Microsoft Corp., Alphabet Inc. and Netflix Inc.

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday's early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another all time high. Meanwhile, the US dollar weakened for a fifth day.

A Confused Trader Discusses The VIX And Markets With His Taxi Driver

"I took the opportunity to unburden myself of my current concerns on markets. I explained my fears about the low level of the VIX and the complacency that seems to dominate market thinking. I fretted how financial asset prices keep head remorselessly higher with no rhyme or reason.... He politely listened. Nodded his head."

Jihad In Denmark

Danish Minister of Justice Søren Pape said it is "insane" that people such as the imam "exist in Denmark"... "It is deeply unsympathetic," he said. "These are medieval thoughts and it makes me very sad that in Denmark in 2017 there are still people who really have not evolved further."

Is The US Prepared For A Nuclear EMP To Shut-Down New York City?

An EMP attack would be the most militarily effective use of one or a few nuclear weapons, while also being the most acceptable nuclear option in world opinion, the option most likely to be construed in the U.S. and internationally as "restrained" and a "warning shot."