Mexico

Frontrunning: January 9

  • European shares dip, sterling falls on Brexit comments (Reuters)
  • Pound Falls to 10-Week Low as May Hints at Single-Market Exit (BBG)
  • Offshore Yuan Falls for Second Day as Bears Reload After Squeeze (BBG)
  • Trump's choices for top Cabinet posts face big tests this week (Reuters)
  • Nine Trump Nominees Who’ll Face Extreme Vetting by Democrats (BBG)
  • Meet the Mercers: New Power Brokers in Trump’s Washington (WSJ)

Fiat Chrysler To Invest $1 Billion In The US, Add 2,000 Jobs

Suddenly the coolest thing in corporate America is announcing major capital investments in the US while adding thousands of American jobs, in other words the opposite of the globalization trend of the past 30 years, in yet other words, doing precisely what Donald Trump demands.

Caught On Tape: Gunman Shoots US Consular Official In Mexico

As domestic unrest grows in Mexico amid gas price hikes and tensions mount over Trumpian policies, AP reports that Mexican prosecutors said Saturday they are searching for a gunman who opened fire on, and wounded an official of the U.S. consulate in the western city of Guadalajara. While motive is unclear, the shooting appeared to be a direct attempt to kill the consular employee.

Dead Unicorn Walking? Theranos Fires Another 40% Of Staff

In October we noted that the death of Theranos has been long coming - ever since the WSJ' John Carreyrou did a phenomenal job, starting about one year ago, of exposing the fraud that is Clinton Global Initiative-darling Elizabeth Holmes - but now following the second round of massive job cuts, it appears the final nail in the coffin of this 'fake news' unicorn is being struck. As Bloomberg reports, the startup will eliminate 155 more positions, leaving 220 employees (down over 70% from highs).

Bill Gross Compares Trump To Mussolini

"Some of these pre-term policies, where he’s cajoling companies to move production back into the United States, that’s fine, but it reminds me to some extent of policies in Italy long ago associated with Mussolini and government control of corporate interests" - Bill Gross

An Angry Japan Responds To Trump's Toyota Taunts

Japanese government officials pushed back against Donald Trump’s criticism of Toyota as the attack on the country’s most powerful corporate name sent shockwaves across Japan Inc.

US Futures Flat Ahead Of December Payrolls; Dollar Rebounds

European shares fell modestly, Asian equities declined for the first day in three, and US equity futures were unchanged before the December U.S. nonfarm payrolls report. China’s offshore yuan fell the most in a year to pare a record weekly rally, while Mexico’s peso climbed after the central bank sold dollars. Oil was trading lower in early trading.

Silver Dumps, Peso Jumps As Mexican Central Bank Intervenes (Again)

If at first you don't succeed, intervene again! For the second time today (at midnight ET), Banxico officials confirmed the central bank entered the market to sell US dollars in an attempt to strengthen the peso. Now we await the next Trump tweet to take the peso back down...

California Farmers Fret Over Labor Shortages As Trump Vows To Deport Their Work Force

California's ag industry generates roughly 500,000 jobs, most of which are back-breaking, manual labor positions that require 10-hour days in California's brutal 100-degree sun.  Of course, America's snowflakes generally shun such positions which have largely been filled by migrant workers from Mexico...which is why Trump's election has some farmers worried about the upcoming season.

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.