Treasury Department

FBI Director Asked DOJ To Publicly Reject Trump Wiretapping Claims

In the latest dramatic plot twist to emerge from Trump's accusation that Obama wiretapped the Trump Tower prior to the election, the NYT reports that FBI director James Comey asked the Justice Department this weekend to publicly reject President Trump’s allegation that Obama eavesdropped on the soon-to-be president.

Frontrunning: March 2

  • Data-Dependent Yellen Running Out of Reasons to Hold Rates Still (BBG)
  • Dollar rises, global stocks hold highs on March Fed rate hike bets (Reuters)
  • Pelosi calls on Sessions to quit after Post discloses Russia contacts (Reuters)
  • Euro-Area Inflation Hits 2 Percent as ECB Debates Policy (BBG)
  • Snap IPO Values Company at Twice Facebook’s Multiple  (BBG)
  • SEC advisory committee to question Snap's transparency for investors (Reuters)

Obamas To Make Over $60 Million From Book Deal

Several publishers are outbidding each other in a blockbuster auction for the global rights to two books by Barack and Michelle Obama, where the latest bid has surpassed a record $60 million for presidential memoirs.

Mnuchin Praises Strong Dollar, Adds To Currency Confusion

“For longer-term purposes, an appreciation of the dollar is a good thing, and I would expect longer-term, as you’ve seen over periods of time, the dollar does appreciate. “In the short term, there are certain aspects [of a strong currency] that are positive about the dollar for our economy and there are certain aspects that are not as positive."

Fannie, Freddie Plunge After Court Rules Hedge Funds Can't Sue

Moments ago, the stocks of the nationalized GSEs = Fannies and Freddie - tumbled, after a federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.

The Coming Bear Market

The bears are dead. Long live the bears. And that, in a nutshell, describes every bubble and emerging bear market there ever was...

Frontrunning: February 14

  • Yellen to Face Questions on Trump’s Impact on Economy (WSJ)
  • Fed has limited view on Trump economic policies as Yellen heads to Congress (Reuters)
  • Oil rises as OPEC-led output cuts trim oversupply (Reuters)
  • Mnuchin’s G-20 Debut Clouded by Currency Chatter (BBG)
  • Israel’s Netanyahu Prepares for High-Stakes Talks With Trump (WSJ)
  • Peugeot Owner in Talks to Buy GM’s European Business (BBG)

Trump Concerned There Are Too Many "Goldman Guys" On His Team

According to Bloomberg, Goldman banker Jim Donovan is under consideration for the No. 2 job at the Treasury Department, but he’s got one big thing working against him: Too many “Goldman guys” already have high-up positions in the Trump administration.