AIG

Frontrunning: May 11

  • After Comey, Russia Probe Escalates (WSJ)
  • Comey Firing Distracts Trump White House, Risking His Agenda (BBG)
  • Trump wanted to preview Comey's Senate testimony (Reuters)
  • Traders Ask What Will Rouse Markets When Trump and Twitter Can't (BBG)
  • EU Raises Growth Forecasts but Cites Threats From Brexit, Trump (WSJ)

Key Events In The Coming Busy Week: FOMC, Payrolls, 131 S&P Companies Report

Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics - the decisive runoff round of the French election takes place this Sunday - this week's releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs.

Steve 'Big Short' Eisman: Smart, Lucky, Abrasive (& Now One Of Them)

"In the movie he was portrayed as the moral compass. After hearing his praise for the awesome job Paulson did by saving the criminal Wall Street banks with taxpayer money, I think the justice and righteousness stuff is overdone. Earlier in his talk he said banks existed to “fuck you” – his exact words. Then later he says we had to save them or the world would have ended."

Preet Bharara Explains Why He Let Wall Street Bank Executives Avoid Prison

"Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in a coma when a string of big bank executives were arrested and sent to prison."

Frontrunning: March 14

  • U.S. East Coast Braces for Late-Winter Blizzard (WSJ)
  • U.S. Blizzard Grounds Flights, Raises Power as Trump Tweets (BBG)
  • Debt Ceiling Fight May Be Too Tempting for Trump to Pass Up (BBG)
  • Russia appears to deploy forces in Egypt, eyes on Libya role (Reuters)
  • EU headscarf ban ruling sparks faith group backlash (Reuters)

When It Comes To Wall Street, Preet Bharara Is No Hero

The prominent U.S. attorney fired by Donald Trump this weekend has been justly acclaimed for his pursuit of political corruption. But his treatment of the Wall Street executives involved in the financial meltdown was far less confrontational.

Frontrunning: March 10

  • Futures rise as investors count down to jobs report (Reuters)
  • Individuals Tiptoe Further Into Long-Running Stock Rally (WSJ)
  • American Diplomats’ Comfort With Tillerson Gives Way to Unease (BBG)
  • EU leaders grope for unity as Britain walks out  (Reuters)
  • Trump's disputes with local governments could create fresh conflicts of interest (Reuters)
  • May Hears Hard Truths About Brexit as EU Prepares for Talks (BBG)

13-F Summary: Who Bought And Sold What In The Fourth Quarter

Yesterday's barrage of 13F releases showed that hedge funds like Third Point, Eton Park and Blue Ridge piled into shares of major banks, David Tepper's Appaloosa jumped into the pharma sector starting new positions in Teva, Pfizer and Mylan while Buffett aggressively added to airline steaks and nearly quadrupled his Apple position to $7.7 billion. Here is a full breakdown of who bought what in the fourth quarter.

Daniel Tarullo, Fed's "Regulatory Point Man", Unexpectedly Resigns

"After more than eight years as a member of the Board of Governors of the Federal Reserve System, I intend to resign my position on or around April 5, 2017. It has been a great privilege to work with former Chairman Bemanke and Chair Yellen during such a challenging period for the nation's economy and financial system."

Extreme Vetting, But Not For Banks

Donald Trump, the man who positioned himself as the common man's shield against Wall Street, signed a series of orders today calling for reviews or rollbacks of financial regulations. He did so after meeting with some friendly helpers...