Treasury Department

Frontrunning: July 21

  • Euro surge to two-year high prompts stocks pause (Reuters)
  • Short Sellers Give Up as Stocks Run to New Records (WSJ)
  • U.S. toughens stance on foreign deals in blow to China's buying spree (Reuters)
  • Trump team seeks to control, block Mueller’s Russia investigation (WaPo)
  • Trump Would Set Off a Chain Reaction by Trying to Fire Mueller (BBG)

BofA Is Very Worried About Two "Dangerous" Games Of Chicken About To Unfold

 "If the market is underpricing the uncertainty with respect to the outlook of US monetary policy, we are even more concerned that it seems totally impervious to the risk of two potentially disruptive, if not dangerous, Games of Chicken likely to unfold in the summer and the beginning of the fall."

Russia-US Relations: Dim Light Does Not Get Brighter

One thing leads to another. It’s impossible to build mutually beneficial, business-like and pragmatic relations under the conditions of hostile attitude on the part of Congress and inability or unwillingness of the administration to do anything about it.

Frontrunning: July 11

  • Trump Looks to Wall Street for Fed Bank Regulator (WSJ)
  • Rates play prods dollar to four-month high versus yen, kiwi dollar falls (Reuters)
  • Kaspersky Lab Has Been Working With Russian Intelligence (BBG)
  • Buffett’s Berkshire Moves Away From Stock Picking (WSJ)
  • OPEC's Barkindo says all producers should help balance market (Reuters)

The Ultimate Regulatory Reform: Abolish Fractional Reserve Banking!

"With his selection of crony capitalists and members of Goldman Sachs to his economic team, it is apparent that President Trump does not understand the true nature of the nation’s financial woes or what precipitated the last financial crisis... If he did, his next Executive Order would be to implement steps and procedures to eliminate the scourge of fractional reserve banking forever."

Fed "Stress Test" Results Are Out: Everyone Passes Even As VIX Hits 70

Moments ago the Fed released the first phase of its annual stress test which, once again, found that all thirty-four of the US largest banks "passed", exceeding minimum projected capital and leverage ratios under severely adverse scenarios, based on their projected ability to withstand economic shocks