Bank of America

Bank of America

Key Events In The "OPEC Is Optimistic About A Deal" Week

The key economic releases this week are consumer confidence on Tuesday, ISM manufacturing on Thursday, and the employment report on Friday. There are a few scheduled speaking engagements from Fed officials this week. The Beige Book for the December FOMC period will be released on Wednesday.

Meet The Real "Fake News"

Question: "Do you have any people being paid by the CIA who are contributing to a major circulation — American journal?"
Answer: "We do have people who submit pieces to American journals."

Muni-Massacre Leaves Bonds Most-Oversold Ever

US Municipal Bond yields have now risen for 10 straight days, spiking from 1.72% to 2.34% today - the highest since July 2015. This crash has now moved munis to the most-oversold-ever as the group suffers the biggest fund outflows since 2013's taper tantrum.

Obstacles To Trump's "Growth" Plans

Mr. Trump rather unfortunately may find that his chief task will not be the management of this Great Re-orientation, but more prosaically, fending off the headwinds which he will face as he hauls on the tiller of the economy. In short, there is a real prospect that his ambitious economic “remake” may well be prematurely punctured by financial crisis. These headwinds will not be of his making, and for the main part, represent the accumulation of an earlier monetary doctrine which will fetter the President-elect into a small corner from which any chosen exit will carry adverse implications.

"The Shoe Has Dropped" - Low Vol ETF Sees Largest Outflow On Record

After last week's victory by Donald Trump which unleashed the great Trumpflation rally, the not so low vol went off the charts, and "the shoe officially dropped" because as Bloomberg notes, the "Low Vol" iShares Edge MSCI Min Vol EAFE ETF saw a record one-day outflow on Wednesday.