"Twitter activists created a #HandsOffSNAP hashtag to seek to block any efforts at reform... but, while politicians portray food stamps as a nutrition program, they are actually a blank check to buy more calories..."
"Just like the British government selling gold at the bottom of the market, corporate executives have been going into DEBT and spending their shareholders’ money to buy their company’s stock at record high prices."
The Goldman Sachs Corporate Trading Desk recently completed the two most active weeks in its history and the desk’s executions have increased by almost 80% YTD vs. 2017. And, according to Goldman's David Kostin, that is just the beginning as corporate buybacks are set to hit a record $650 billion in 2018...
Despite a very explicit warning by Goldman's co-head of equity trading that the "regime has changed" and that instead of "buying the dip", investors should be "selling-the-rip", so far this morning a global BTFD relief rally has been unleashed from Asia to Europe and the US as traders welcomed a rare respite from soaring volatility.