EuroDollar

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..."

"It's The Economy, Stupid... Not Drugs & Demographics"

"Unless oil prices really break higher, then the bond market gives far more weight to what the FOMC members would all rather never consider – the problem really is money and economy rather than drugs and demographics."

$350 Trillion In Securities In Limbo: LIBOR To Be Phased Out By 2021

Unofficially, Libor died some time in 2012 when what until then was a giant conspiracy theory, namely that the world's most important reference index had been rigged for years, was confirmed. Officially, Libor died earlier today when the top U.K. regulator, the FCA announced that Libor would be phased out by the end of 2021.

Dr.Copper's False Hope - "We've Seen All This Before, Too Many Times"

Copper prices surged to the highest levels since May 2015 in the last few days, prompting the ubiquitous "must mean the economy is doing well" narrative from every hope-fuelled reflationist. There's just one problem, we’ve seen all this before too many times.

All Conundrums Matter

"...the monetary history (including eurodollars) of the 21st century comes out very different than the monetary policy (eurodollars don’t matter) history of the same period. The latter leads to drug addicts and Baby Boomers as an eventual excuse for how QE and ZIRP performed about as well as monetary policy in 2001, 2002, and 2003. The former leads us to answers..."

Italy Bank Bailouts Send European, Global Stocks Higher; Gold Flash Crashes

S&P futures point to a higher open following gains in Asia but mostly Europe, where stocks are sharply higher following the €17 billion bailout of the two Veneto banks in Italy, the biggest taxpayer funded bank rescue in modern Italian history, as well as Dan Loeb's activist campaign of the world's biggest food company, Nestle

If BlackRock And Pimco Are Right, "Another Fed Shock Looms"

"Once bitten, twice eager sounds like a contradiction but it can often seem like standard operating procedure in global markets - just look at the money piling into bets that the Federal Reserve is going nowhere soon with monetary tightening. It’s as if the February shock - when a deluge of Fedspeak made traders realize their bets against a March hike were wrong - never happened."