"It doesn’t take a giant pin to prick the bubble. It just takes something unexpected... Nobody ever knows what will set off the next crisis... But in GE’s case, you can bet there isn’t just one cockroach."
After making more headlines today along with Jamie Dimon and Warren Buffett, today’s infographic focuses on the extent and reach of Jeff Bezos and his Amazon Empire...
"Obama’s first year was a golden period for Russia because he didn’t believe in national interests. Trump does. The left inevitably accuses the right of its own sins. Trump didn’t collude with Russia. Obama did."
"We have been arguing since last February that iPhone demand expectations were too optimistic and that the higher price of new models would pressure unit demand. This appears to be playing out..."
The recent frantic moves in Treasurys and the dollar continued on Monday, and while the dollar collapse seems to have slowed for now, this is as a result of an acceleration in the Treasury selloff, with 10Y yields blowing out.
"We’re in a situation in Illinois where our pension debt is just crushing. When you have the largest pension debt in the world, you probably ought to be thinking big."
It's deja vu all over again as the dollar resumes its decline against all major peers on Friday as equity markets from Asia to Europe, and US futures, are a sea of green as the market meltup continues at an unprecedented pace.
"...too much money printing in a globally-linked central banking system leads to excess capacity, rampant malinvestment and, consequently, industrial and consumer disinflation, not inflation..."
"... as we edge ever higher, US stocks begin to feel like bitcoin in the run up to the start of futures trading late last year. Everything is great, but everyone knows everything is great."
In what has been a relatively quiet overnight session, equity futures are once again a sea of green, as the stock market meltup continues, while the dollar bloodbath is accelerating.
After earlier tracking the latest rally in global equities following the reopening of the US government which saw Asian stock hit new all time highs, US futures encountered an unexpected airpocket, sending the E-mini sliding as much as 10 points from session highs.
"...Gold is sound money and limited in supply but it doesn’t move well. The dollar moves well but is not limited in supply. Bitcoin moves well and is limited in supply which is why it has been outcompeting both since its creation in 2009."
"we’re growing faster than we expected, which allows us to invest more in original content than we had planned, so our FCF will be around negative $3B-$4B in 2018."
Global stocks and U.S. bond markets on Monday shrugged off day three of the US government shutdown in Washington, although the dollar pulled back as the euro continued its strong start to the year, while U.S. stock index futures were basically unchanged.
