Merrill Lynch

The 'Soft Coup' Of Russia-Gate

Where is Stanley Kubrick when we need him? If he hadn’t died in 1999, he would be the perfect director to transform today’s hysteria over Russia into a theater-of-the-absurd movie reprising his Cold War classic, “Dr. Strangelove,” which savagely satirized the madness of nuclear brinksmanship and the crazed ideology behind it.

Coach Acquires Kate Spade For $18.50 Per Share

In some good news for the distressed US retail sector, on Monday morning handbag retailer Coach confirmed long-running speculation, when it announced that it would acquire peer Kate Spade in a $2.4 billion deal. Coach will pay Kate Spade shareholders $18.50 a share in cash, a 28% premium to Kate’s closing price as of Dec. 27, the last trading day before the Wall Street Journal first reported that Kate was exploring a sale of the company.

Equity Outflows Surge As Stocks Limp To Record High

After the quietest 8 days in S&P history since 1964, the broad market index managed to limp quietly to a new record close on Friday after a very mixed payrolls print. However, despite the volumeless spike to record highs, it appears the week's dismal data and disappointing earnings left investors unimpressed as S&P ETF outflows surged to their biggest since January 2016.

Global Stocks Hit All Time High As Fed Meeting Begins

With the Fed set to begin its latest 2-day meeting, S&P futures are little changed with European and Asian stocks higher after the VIX dropped to a 10 year low and the Nasdaq rose to record highs, sending the MSCI All-Country Index back to all time highs, as global markets reopen after holiday with investors focusing on stronger corporate earnings, while ignoring weaker than expected "hard" economic data and geopolitical concerns.

Why The Crude Rally Has Fizzled - Part 3 (Of 3)

It is no understatement that it will take a lot of US demand to balance the market. And not just refinery demand, but also product demand too. And not just in the US. In the face of a world saturated with crude oil, the only thing that can truly balance this market is fresh demand from new technology, or a massive reduction in global refinery capacity.

 

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

The Best 'Unknown' Indicator

Even though investors have given up on the Trump reflation trade, this model has not. In fact, it has pushed up to new highs...

9 Charts Showing Market Bears Are Waking Up

Just when you thought it was safe to stride safely through the forest of stock market investing (hey - banks, Trump, hope, reform, stimulus, earnings, and Trump again); the bears are coming out of hibernation...

David Rosenberg: "This Is A Bubble Of Historic Proportions"

"This bubble is on par with what we had in the States back in ’05, ’06, ’07. We have to actually take a look at the situation. The housing market here is in a classic price bubble. If you don’t acknowledge that, you have your head in the sand."

Frontrunning: March 30

  • Trump’s Border Wall: A Tall Order (WSJ)
  • Trump’s Hope for Rapid Reset With Russia Fades (WSJ)
  • China's Xi to meet Trump in Florida next week (Reuters)
  • U.S. Softens Call for Shift on Nafta (WSJ)
  • ESPN Has Seen the Future of TV and They’re Not Really Into It (BBG)
  • Inside the Leadership Shakeup at Merrill Lynch (BBG)

Preet Bharara Explains Why He Let Wall Street Bank Executives Avoid Prison

"Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in a coma when a string of big bank executives were arrested and sent to prison."