Debt Ceiling

From Here On... "Things Get Jiggy"

"Forward from here, things get jiggy. The nation faces a pile-up of events as we turn the corner on summer and head into the spook-house of autumn..."

The Week's Key Events: All Eyes On The ECB

With the US markets closed today, market events this week will be dominated by G10 central bank meetings, among which the ECB stands out. In the US, the key economic release this week is ISM non-manufacturing on Wednesday, while several Fed officials are scheduled to speak this week.

Pat Buchanan Exposes What Harvey Really Wrought

On display this week was America at her best. Like 9/11, Hurricane Harvey brought us together. Though the country has appeared united since the storm hit, it is not likely to remain so. Indeed, the sneering and sniping has already begun...

Palladium Suddenly Spikes To 16-Year Highs

Amid hope for reinvigorated auto production (after Hurricane Harvey's destruction) and yesterday's escalation in US-Russia tensions (Russia being the world's largest producer), spot Palladium is spiking today, hitting its highest since record highs in January 2001.

Weekend Reading: Harvey & The Broken Window Fallacy

"... the reality is we are very late in the current economic cycle. Just like in 2008, it was well after the fact, when the economic data was negatively revised, the recession became clearly evident. Given the deterioration is credit, the rise in delinquencies and plunge in savings rates, the economic back drop is likely far weaker than headlines currently suggest. While Harvey may extend the current cycle for a little while longer, I would not get overly complacent with highly aggressive allocation models. Like I said, there is no free lunch."

Trump Blinks Again, Won't Shut Down Government Over Wall Funding

Last Tuesday Trump promised a Phoenix audience that he would follow through on his biggest campaign promise, saying "believe me, if we have to close down our government, we're building that wall." Today, Trump flopped again when it emerged that he won't close down the government to build that wall, after all.

Is A US Default Imminent: Liquidation Panic Grips T-Bills Market

While the politicians and the mainstream media are playing down any concerns about the US debt ceiling, Treasury Bill market participants are seeing chaos as the yield curve has snapped across the Sept-Oct divide with panic-buying in bills that mature ahead of the September-end (Q3-end liquidity needs), and dumping of October bills.