Reuters

Frontrunning: May 9

  • Yates warned Trump over Flynn blackmail fears (Reuters)
  • Former Trump security aide was Russia blackmail risk: ex-U.S. official (Reuters)
  • Visiting the White House Can Boost Your Stock Price. So Who’s Visiting Trump? (BBG)
  • Investors Lighten Up on U.S. Stocks, Betting on Europe (WSJ)
  • Oil steadies but rattled by concern about OPEC's clout (Reuters)

Japanese Wages Fall At Fastest Pace In 2 Years; Kuroda Admits His Job Is "Challenging"

Buying stocks, bonds, and generally printing money willy-nilly is hard work according to BoJ Governor Kuroda who remarked tonight that "the job of a central banker is challenging." Perhaps the reason for his emotional outburst is the fact that Japanese wages just plunged in March - the biggest drop since June 2015 as the economic rebound that we are constantly told about has evaporated once again.

Bill Ackman's Full Howard Hughes Presentation

In light of Ackman's recent investing track record, there has been some debate what is more surprising: that Ackman is again unable to come up with an original investment, or that the stock actually jumped, rising as much as 4.8% on the Ackman reco.

Frontrunning: May 8

  • Macron victory reshapes European politics (Reuters)
  • Macron Vows to Heal France’s Divisions After Victory Over Le Pen (BBG)
  • Macron’s Style Choices – CEO or Chairman? (BBG)
  • Euro gives up gains as investors look to post-election France (Guardian)
  • China's April trade growth slows as commodities, electronics demand cools (Reuters)

Lowest Turnout Since 1974 As France Decides The "Future Of The EU"

According to the French interior ministry some 28.54% of registered voters have cast their votes in the presidential election by 12:00 a.m. local time (1000 GMT) on Sunday, a lower than expected initial turnout and the lowest at this stage of the day since the 2002 presidential poll, when it was 26.19%. Prior midday turnouts were 30.66% and 34.11% in 2012 and 2007, respectively.