EuroDollar

Goldman Reveals Its Top Trade Recommendations For 2018

1. Short 10-year US Treasuries; 2. Go long EUR/JPY; 3. Go long the MSCI EM stock market index; 4. Go long EUR 5-year 5-year forward inflation; 5. Go long the EMBI Global Index against short the US High Yield iBoxx Index; 6. Own diversifed, and hedged, Asian growth: Long INR, IDR, KRW vs. short SGD and JPY. 7. Go long global growth, non-oil commodity beta: long BRL, CLP, PEN vs. short USD.

Extremes Are Everywhere

"The complete disregard for 'risk' has never worked out well for investors in the past and is unlikely to be different this time either..."

Three Straight Weeks Of This Can't Be Ignored

"...potentially as an escalating warning about systemic liquidity, collateral and otherwise...After all, if something unknown is clogging, removing, or just plain disrupting collateral flow it’s not likely to be an isolated case; and certainly not for three weeks running..."

Spanish Stocks, Bonds, Euro Sink After Catalan Referendum Fiasco; S&P Futures Rise

While S&P futures were modestly higher, rising 0.1% in a quiet session in which China, South Korea, India and Hong Kong were closed for holidays, the Euro, Spanish stocks and bonds were broadly lower as Spain faces its worst constitutional crisis in years following a dramatic, violent crackdown on Sunday's Catalan independence referendum in which 89% of the voters wanted to secede from Spain.

The Trump 'Eclipse Bottom'

"Trump seems to be sticking his foot in his mouth a lot less often these days... And with the recent debt ceiling deal with the Democrats, you could almost say he is acting Presidential... I think Trump staring at the Solar eclipse was the bottom for his Presidency."

Global Stocks Shake Off North Korea Jitters; Chinese Yuan Slides

Traders are eager to buy the latest dip, as US futures pared yesterday's losses before markets reopen after the Labor Day holiday, as global stocks looked to put any North Korean unpleasantries into the rear view mirror and assume another happy ending:

The Two Parts Of Bubbles

"All the ingredients for a stock bubble are present. It’s not really a monetary bubble so much as an expectations bubble...when will people wake up from the hazy doses of self-deluded reality they have become emotionally attached to..."