Housing Market

"Everything Is A Partial Reversal Of Yesterday" - Stocks, Dollar Rebound Following Trump Scare

European shares decline led by a plunge in Pearson shares, S&P futures were modestly in the green as Asian and EM stocks gained. The dollar rebounded against most major currencies after retreating 1.3% on Tuesday to the lowest in a month following Trump's "strong dollar" comments and halted a seven-day drop against the yen. "Everything is just a partial reversal of the price action yesterday," RBC Capital Markets currency strategist Adam Cole said.

Key Events In The Coming Week: Trump Inauguration, Davos, Theresa May, ECB, China GDP

The week ahead will be a busy one, with a plethora of events including the Davos shindig, where particular focus will be on Chinese President Xi Jinping, the first Chinese president to attend. China will also announce GDP on Friday, which also marks the inauguration of Donald Trump as the 45th US president. Tuesday brings Theresa May's long-awaited Brexit speech.

Why Morgan Stanley Thinks Stocks "Will Do Worse Under The New Administration"

"Returns will likely do worse under the new administration than under the departing one, and where exceptions to this may be. That statement is linked to a simple idea. Good market environments often involve a shift from economic despair to optimism, and a shift in psychology from ‘fear’ to ‘greed’. Both occurred over the last eight years, producing returns well above the long-run average."

Who Will Trump Pick As Next Fed Chair?

Reinhart discusses possible Federal Reserve appointments under a Trump administration. The front-runner, in his opinion, seems to be John Taylor...

Senate Democrats Prepare For Their 2017 Theatrical Debut As Confirmation Hearings Loom

Starting Tuesday Americans will be subjected to what will feel like endless hours of torture as Senate Democrats get their opportunity to question Trump cabinet appointees.  Given that Republicans control a 52-48 majority in the Senate and that Democrats eliminated the 60-vote threshold in 2013, the Democrat theatrical displays will ultimately amount to nothing more than an attempt to discredit and shame Trump's appointees but should be fun nonetheless.

Party Like The Dow Is 19,999: US Futures Dip As Global Currencies Stumble; Oil Down, Gold Up

European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards.

The False Economic Recovery Narrative Will Die In 2017

The false recovery narrative will indeed die in 2017, and it will be because the globalists WANT it to die while nationalists are at the helm. This is perhaps the biggest con game in recent history; with conservatives as the fall guy and the rest of the public as the gullible mark.

Frontrunning: January 5

  • Dollar Posts Biggest Drop Since Trump's Win (BBG)
  • World stocks hit 1-1/2 year high after strong China data (Reuters)
  • Apple pulls New York Times apps in China after government request (Reuters)
  • Macy’s Axes Jobs and Stores, Echoes Kohl’s on Weak Holiday (WSJ)
  • India’s Cash Woes Are Just Beginning (BBG)

FOMC Minutes Show "Considerable Uncertainty" About Trump Impact On Economy

Since The Fed decided unanimously to hike rates in mid-December, bonds, banks, and bullion are best but the broad stock market is lower. The key area of today's minutes was on the impact of Trump's policy agenda (which was the focus of Yellen's press conference), and they did note that there were "upside growth risks from fiscal policy" and this might mean Fed "needs to raise rates faster."

Mortgage "Refi Boom" Crashes To Lehman Lows

While mortgage applications tumbled across the two-week holiday period - even seasonally-adjusted - it was the complete collapse in the refinancings that is most notable. Down over 60% since August, the refi index crashed over 22% over the xmas/new year period to its lowest since the post-Lehman collapse in Oct 2008.