Nomination

Ron Paul: "We Do Not Really Have Democracy" In America, 2016 Is A Distraction

"In this country, we do not really have democracy... I see the Republicans and Democrats and all they do is fight and scream at each other, [but the] policies never change. the personal fighting — is a distraction from the real issue, which is personal liberty and the bankruptcy of this country and the failure of our foreign policy. That’s where the problem is."

Frontrunning: June 8

  • World stocks struggle to build on highs as Europe weighs (Reuters)
  • Oil hits eight-month high on disruptions, Chinese demand (Reuters)
  • Hillary Clinton Set for Democratic Nomination After Primary Wins (WSJ)
  • DNC avoids calling Clinton presumptive nominee (The Hill)
  • Trump, Rattled by Critics, Treads Carefully in Victory Speech (BBG)

Futures Levitate To Session Highs As ECB Enters The Bond Market; Crude Hits $51

In an overnight session dominated by the latest political developments out of the US where Hillary Clinton officially claimed the democratic nomination, the financial newsflow focused on China's trade data, where exports fell 4.1% from a year earlier, in line with expectations, but imports dropped 0.4% from a year earlier, the smallest decline since they turned negative in November 2014, driven entire by soaring "imports" from Hong Kong - aka capital outflows - which soared by 243% y/y.  The other main news was the official launch of the ECB's corporate bond buying, which helped drive government bonds yields in German to new record lows, and the average yields on investment-grade corporate debt below 1%.

How Hillary Clinton "Clinched "The Nomination On A Day Nobody Voted

"This is the perfect symbolic ending to the Democratic Party primary: The nomination is consecrated by a media organization, on a day when nobody voted, based on secret discussions with anonymous establishment insiders and donors whose identities the media organization – incredibly – conceals."

Bernie Sanders' Last Stand: A Preview Of Tonight's Primaries

This evening holds primaries in six states for the Democrats (California, Montana, New Jersey, North Dakota, South Dakota, and New Mexico), and five states for the Republicans (California, Montana, New Jersey, South Dakota, and New Mexico). Of course, all eyes are on Bernie in California, where despite the media manipulation overnight, polls show it too close to call with Hillary for now.

Frontrunning: June 7

  • Soothing Fed sounds send stocks to five-week high (Reuters)
  • Clinton reaches magic number in fight for Democratic nomination (Reuters)
  • Euro-Area Economy Grows Faster as Consumption Gathers Pace (BBG)
  • Trump unyielding on Hispanic judge uproar (Reuters)
  • European Firms Find ‘Increasingly Hostile’ Environment in China (WSJ)
  • China tells U.S. to play constructive South China Sea role (Reuters)

S&P Nears All Time High, Global Stocks Rally As Dovish Yellen Unleashes Animal Spirits

Stock whisperer Yellen said all the right things yesterday, when she sounded more optimistic than pessimistic on the economy but while the economy is "strong" it is most likely not strong enough to weather a rate hike in the immediate future. As a result, the S&P 500 climbed toward a record on Monday (and continued rising overnight) after Yellen said she expects to raise interest rates only gradually and held off from specifying any timeframe, a shift from her May 27 stance that a move was probable “in the coming months.” This was interpreted that both a June and July rate hike are now off the table, with September odds rising modestly.

It's Official: Hillary Clinton Wins The Democratic Presidential Nomination

An Associated Press count of pledged delegates won in primaries and caucuses and a survey of party insiders known as superdelegates shows Clinton with the overall support of the required 2,383 delegates. Now the presumptive nominee, she will formally accept her party's nomination in July at the Democratic National Convention in Philadelphia.

An Angry Bernie Sanders Responds To Hillary's Nomination

"It is unfortunate that the media, in a rush to judgment, are ignoring the Democratic National Committee's clear statement that it is wrong to count the votes of superdelegates before they actually vote at the convention this summer. Secretary Clinton does not have and will not have the requisite number of pledged delegates to secure the nomination. She will be dependent on superdelegates who do not vote until July 25 and who can change their minds between now and then. They include more than 400 superdelegates who endorsed Secretary Clinton 10 months before the first caucuses and primaries and long before any other candidate was in the race."

It Takes A Village To Maintain A Dangerous Financial System

“The few who understand the system will either be so interested in its profits or be so dependent upon its favors that there will be no opposition from that class, while the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.”

Hillary Clinton Is The Clear Candidate Of The War Party

Last week, Hillary Clinton gave up trying to compete with Bernie Sanders on domestic policy. Instead, she zeroed in on the soft target of Donald Trump’s most “bizarre rants” in order to present herself as experienced and reasonable. Evidently taking her Democratic Party nomination for granted, she is positioning herself as the perfect candidate for hawkish Republicans.

Frontrunning: June 6

  • Yellen faces fine balance on Fed rate hike after job growth tumbles (Reuters)
  • Oil Advances as Abu Dhabi Sees $60 Crude on Shrinking Surplus (BBG)
  • China to submit 'negative list' for U.S. investment treaty talks next week (Reuters)
  • Buoyed by attacks on Trump, Clinton heads into pivotal week (Reuters)
  • Clinton's IT aide keeps email server shrouded in mystery (The Hill)