Goldman Sachs

VIX Spikes To 2-Week Highs As Dow Erases 2017 Gains

VIX spiked this morning to near 13 (shock horror) - the highest since January 3rd - as Goldman Sachs was unable to support the Dow, which dropped below 19750 for the first time since 2016...

"Everything Is A Partial Reversal Of Yesterday" - Stocks, Dollar Rebound Following Trump Scare

European shares decline led by a plunge in Pearson shares, S&P futures were modestly in the green as Asian and EM stocks gained. The dollar rebounded against most major currencies after retreating 1.3% on Tuesday to the lowest in a month following Trump's "strong dollar" comments and halted a seven-day drop against the yen. "Everything is just a partial reversal of the price action yesterday," RBC Capital Markets currency strategist Adam Cole said.

In Defense Of Populism

"Populism is not a bug, but is a key feature in any democratic society. It functions as a sort of pressure relief valve for free societies. Indeed, it allows for an adjustment and recalibration of the existing order at the exact point in the cycle when it is needed most. In our current corrupt, unethical and depraved oligarchy, populism is exactly what is needed to restore some balance to society."

Key Events In The Coming Week: Trump Inauguration, Davos, Theresa May, ECB, China GDP

The week ahead will be a busy one, with a plethora of events including the Davos shindig, where particular focus will be on Chinese President Xi Jinping, the first Chinese president to attend. China will also announce GDP on Friday, which also marks the inauguration of Donald Trump as the 45th US president. Tuesday brings Theresa May's long-awaited Brexit speech.

Trump Team Will Not Attend Davos: "Would Betray Populist-Fueled Movement"

Trump won’t send an official representative to next week's globalization summit in Davos because, as Bloomberg reports citing a senior member of Trump’s transition team: "the president-elect thought it would betray his populist-fueled movement to have a presence at the high-powered annual gathering in the Swiss Alps."

Why Ridiculous Official Propaganda Still Works

Any day now we are going to be told that Elvis is secretly working with Putin to deploy a Zhirinovskian gravitational weapon in a UFO disguised as Jesus that Assange and Snowden will personally pilot across the Atlantic to sink America. It’s like some kind of loyalty test in which the ruling classes are trying to determine just how far they can go with this crap before liberals refuse to salute any more of it.

Just 3 Things

Importantly, with economic growth anemic, consumers stretched and an economy heading into one of the longest post-recessionary expansions on record, there is little room for a policy misstep at this juncture. Maybe Trump will be wildly successful and the economy will come roaring back. That is a possibility. But there is also the risk it won’t. Optimism is one thing. Your personal capital and financial health is quite another.