Commodity Futures Trading Commission

The Road To Hell Was Paved With Obama Cronyism

It is absolutely imperative to see Trump as a symptom of a sick and broken system as opposed to the root cause of anything. The corporate media and legions of mourning Hillary cultists continue to present the Trump threat in extraordinarily simplistic and unhelpful terms. They act as if he’s the head of some evil snake, and that disposing of him as an individual will get America back on track. This couldn’t be more wrong.

#FakeNews In Investing

As is always the case, a ramping bull market hides investor mistakes – it is the bear market that reveals them. The meteoric rise in passive investing is one such 'strategy' sending an important and timely warning. Just remember, everyone is 'passive' until the selling begins.

Frontrunning: January 6

  • December Jobs Data to Wrap Up Obama’s Economic Legacy (WSJ)
  • FBI Says Democrats Refused Access to Hacked E-Mail Servers (BBG)
  • As Trump attacks, Nissan at bigger risk than Toyota (Reuters)
  • Democratic leader Schumer emerges as Trump's newest punching bag (Reuters)
  • PBoC raises renminbi’s daily fix by most since 2005 (FT)
  • China central bank urges rational investment in bitcoin (Reuters)

Frontrunning: January 4

  • Trump Tariff on GM Would Violate NAFTA. That May Not Stop Him (BBG)
  • Obama Tries to Save Parts of Health Law Amid GOP Attack (WSJ)
  • Trump Puts Auto Makers, Trade Policy in Spotlight (WSJ)
  • British consumers borrow at fastest rate in 11 years as inflation threat rises (Reuters)
  • Investment banking fees fall 7 percent in 2016 dragged down by equity raisings (Reuters)

Can The Canadian Oil Industry Recover In 2017?

Even with the recovery in conventional oil and gas looking positive in 2017, the lack of major capital investment in oil sands that has become the norm in the past decade will be painful with no relief in sight.

COMEX, ICE Gold Vault Reports Both Overstate Eligible Gold Inventory

Both CME and ICE publish reports showing warehouse inventories of gold in two categories, Eligible gold and Registered gold. Most importantly, however, both reports are technically incorrect for the approved vaults that they have in common because neither Exchange report takes into account the Registered gold reported by the other Exchange.

Six Steps Trump Can Take Toward Better Monetary Policy

The largest contributor to inflation and financial turmoil is dishonest money - enabling bureaucrats to run perpetual government deficits and pile up the federal debt. If Trump takes the steps outlined below, he can repair some of the damage.

Money Managers Have Never Been More Sure That Interest Rates Will Continue To Rise

In August of 2014, amid tapering QE and talk of normalization, speculators in the world's most liquid money-market instruments went all-in with record bearish bets on eurodollar futures. They were wrong and the short-squeeze sparked a slow-motion flash-crash in bond yields (10Y from 2.65% to 1.86% in a month). Today, as we await words, smoke, and mirrors from Janet tomorrow, the world's speculators are even more all-in...

Global Bond Rout Returns With A Vengeance, Sending 10Y Yields To Highest In Over Two Years

The global bond rout returned with a bang, sending 10Y US Treasury yields as much as six basis points higher to 2.53%, the highest level in over two years. The selloff accelerated following Saturday's agreement by NOPEC nations to slash production, leading to rising inflation pressures. At last check, the 10Y was trading at 2.505%, up from 2.462% at Friday and on track for its highest close since September 2014.