...and if this 30 year relationship continues to hold, the message from the bond market to the equity market is 'buckle up' as VIX is not about to revert lower, but re-accelerate higher above 40...
Since President Trump tweet-whined about Russia, China manipulating their currencies, the dollar has gone panic-bid, and along with Treasury yields, are both now back at March rate-hike highs. The Techphoria is fading fast as AAPL slumps over 5% in 2 days and Semis suffer...
One student shot another in the ankle Friday morning at Forest High School in Ocala. The shooter is in custody. The injured student, a boy, suffered a non-life-threatening injury and has been taken to a local hospital.
U.S. equity index futures are modestly in the red, alongside Asian markets, where technology shares came under pressure after yesterday's unexpected Taiwan Semi warning.
"..what we know for sure is that looking back, 2017 will certainly be considered as this cycle’s peak year for Eurozone growth and that the market and the ECB were ill-prepared for lower growth."
"The bond market may well be signaling a very unhealthy period ahead for Chinese growth. Copper, CLP and AUD are all vulnerable if the China slowdown thesis is correct."
The Mexican peso has been sliding for a couple of days as NAFTA negotiations continue but, as Citi notes, today's tumble - the biggest drop in 4 months - is not about NAFTA...
"For yet another angle on how this cycle is different from anything in recent or even distant memory...Please explain to me how a 35-year-old can be less optimistic about the future than a 55-year-old! It defies logic, nature, and reasoning..."
"The Donald is not leading America to the promised land... Instead, he's leading it to war abroad, fiscal and economic calamity at home and a crisis of governance that pales Watergate into insignificance."
