Creditors

Frontrunning: January 17

  • Theresa May pledges clean Brexit break (FT); May Pledges Vote on Brexit Taking U.K Out Of EU’s Single Market (BBG)
  • Donald Trump Warns on House Republican Tax Plan (WSJ)
  • Trump, Fed Headed for Clash Amid Dollar Surge, Economists Say (BBG)
  • China’s Xi Warns Against Trade War in Defense of Globalization (BBG)
  • Morgan Stanley Profit Rises on Surge in Bond-Trading Revenue (BBG)
  • Germany says NATO concerned about Trump 'obsolete' remark (Reuters)

Frontrunning: January 10

  • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
  • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
  • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
  • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
  • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
  • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)

These Are Barclays' 13 Commodity "Black Swan Threats" For 2017

Beware the commodity "black swans" in 2017, at least according to Barclays. The British bank warns that raw materials markets from oil to metals face the a high likelihood of disruptions, which among, other include a default by Venezuela, riots in Chile, a trade war with China, more terrorism in Turkey, and even a Fukushima-type disaster in China.

It's The Dollar, Stupid!

We expect global monetary authorities to protect the dollar as long as they can and we expect them to fail. Stocks and bonds will react violently; stocks and weak credits falling, treasuries prices rising (at first). That failure will lead to hyperinflation – not driven by demand, but rather by central bank money printing. A new global monetary understanding will then emerge.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Italy Proves That Banks Are Not The Risk-Free Fantasy We're Told To Believe

We’ve been programmed to sign over our life’s savings to a complete stranger simply because the government says it’s OK. That same government has lied to us about everything else imaginable, ranging from the existence of Weapons of Mass Destruction to whether or not he had “sexual relations with that woman.” Yet this government-sanctioned trust is routinely abused.

China Says Will Make "Tactical Adjustments" On US Debt

An official from China's SAFE told US reporters at a briefing that while China will make "tactical adjustments" on its US debt holdings, Beijing's long-term investment view on US debt has not changed. US told reporters at a briefing, adding that U.S. Treasuries are China’s long-term strategic investment targets.