Porsche

Protecting The Cheaters: EU Regulators In Bed With German Auto Industry Regarding Diesel

"We can debate at length what pollution standards should be. What’s not debatable is German auto corporations lied and cheated their way to good results and now they are caught with their pants down, at least twice. Either way, diesel is on the way out. And with that pending change, Germany’s vaunted lead in auto technology has turned into ashes. Meanwhile, EU regulators are prepared to look the other way in an attempt to give German manufacturers time to catch up."

Frontrunning: July 18

  • U.S. Republicans left scrambling after health bill sinks again (Reuters); Republicans Give Up on Health-Care Reform, Now Seek Straight Repeal (BBG)
  • Trump Blames Democrats and a ‘Few Republicans’ for Health-Bill Wreck (BBG)
  • House Republicans Set Out Plan to Rewrite Tax Code (WSJ)
  • House GOP Budget Ignores Trump’s Cuts to Domestic Agencies (BBG)
  • House Republicans unveil 2018 budget with tax reform instructions (Reuters)

Tesla Burns Through $620 Million, Loses $13,000 Per Car Made Ahead Of Model 3 Launch

Traders were looking forward to today's "black box" earnings from Tesla as it would be the first quarterly report that combined Tesla Motors operations with a full quarter from cash-bleeding monstrocity SolarCity following the pair's merger, and would also provide much needed information about the "imminent" launch of the Model 3. They got both good and bad news.

Condo Flippers In Miami-Dade Left Twisting In The Wind

Miami-Dade’s spectacular condo flipping mania is in turmoil, with sales plunging, inventory-for-sale soaring, and new supply flooding the market. It’s not like Miami hasn’t been through this before.

Frontrunning: March 21

  • Gorsuch Strives to Present Himself as Above Political Fray (WSJ)
  • Investigation Could Hurt Trump’s Clout in Congress (WSJ)
  • U.S. to Ban Laptops and Tablets in Cabins of Some Mideast Flights (BBG)
  • Tillerson no-show at NATO renews European disquiet about Trump (Reuters)
  • Don’t Blame Your Social Media Feed for the Growing Political Divide (BBG)
  • High-Frequency Traders Fall on Hard Times (WSJ)

Volkswagen To Pay $4.3 Billion To Settle Diesel Scandal, Will Plead Guilty To Criminal Charges

Confirming recent leaks, Volkswagen - whose former head of US regulatory compliance was arrested on Saturday - said it was in "advanced discussions"  with US authorities to resolve charges related to its diesel emissions scandal, and has negotiated a “concrete draft of a settlement” that would see it pay $4.3bn in criminal and civil penalties, and would require the German carmaker to enter a guilty plea to various criminal charges.

Breaking The Correlation Curse

The “Curse of Correlation” may have finally met its match. The President-Elect’s proposed policies break so completely with the last 8 post-Crisis years that investors are re-evaluating everything from the trajectory of long term interest rates to which sectors stand to benefit the most under a Trump presidency.

 

Frontrunning: November 30

  • Oil soars on OPEC hopes, dollar renews its surge (Reuters)
  • Oil Rallies on OPEC Optimism, Spurring Gains in Energy Producers (BBG)
  • Saudis say to take 'big hit' on oil output for OPEC deal, Iran can freeze (Reuters)
  • Leaner and meaner: U.S. shale greater threat to OPEC after oil price war (Reuters)
  • an the U.S. Become an Energy Superpower in 2017? (BBG)
  • RBS Fails Toughest-Ever BOE Stress Test, Boosts Capital Plan (RBS)

US Futures, Global Markets Storm Higher As More Details Emerge About Japan's "Helicopter Money"

The global meltup continues with the S&P set to open at new all time highs, some 20 points higher from yesterday's close, however the driver for the latest rally is not so much the imminent BOE announcement which is expected to cut rates by 25 bps from 0.50%, but a dramatic surge in the USDJPY just after 1am Eastern when Bloomberg revealed more details about Ben Bernanke's masterplan for Japan's helicopter money.

Frontrunning: May 4

  • Donald Trump’s Win Just Latest Tremor Shaking GOP (WSJ)
  • Trump Becomes Presumptive Republican Nominee as Cruz Exits Race (BBG)
  • How 'Stop Trump' failed to halt the Republican front-runner (Reuters)
  • Islamic State seeks news blackout in Mosul as Iraqi army nears (Reuters)
  • U.S. gathers allies on next steps in Islamic State fight (Reuters)