It's a busy week for economic data, with Friday's payrolls average hourly earnings report on Friday taking the macroeconomic spotlight, in addition to ISM Mfg and Services reports, trade data, construction spending and March auto sales data earlier in the week.
"DACA is dead because the Democrats didn’t care or act, and now everyone wants to get onto the DACA bandwagon... No longer works. Must build Wall and secure our borders with proper Border legislation. Democrats want No Borders, hence drugs and crime!"
"Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt. So bankrupt, you can't believe it."
A change in the default crude oil transactional currency - which for decades has been the "Petrodollar", blessing the US with global reserve currency status - would have monumental consequences for capital allocations and trade flows.
The US and South Korea on Sunday kicked off their annual "Foal Eagle" joint military drill which had been postponed until after the Winter Olympics. About 11,500 U.S. and 300,000 South Korean soldiers will take part in the drill that was originally set for March.
Libor rose from 2.3080% to 2.3118%, increasing for the 37th straight day, and marking the longest consecutive string of advances since a 50-day streak that ended in November 2005
Following the passage of the $1.3 trillion omnibus spending bill last Friday, right-wing pundit Ann Coulter has been on the war path against President Trump - who she called a "shallow, lazy ignoramus."
"The title refers to a consensus-shattering paper that was unveiled at the University of Chicago last month... that more or less shredded former Fed chief Ben Bernanke’s favorite defense of his quantitative easing (QE) programs - that QE lowered Treasury yields."
The fundamental picture hasn’t suddenly brightened from that which formed the backdrop to this column’s bearish call a week ago. If anything, it may have deteriorated...
It's a busy, holiday-shortened week for US data and Fed speakers, with bond traders about to be inundated with an "unprecedented wave" of Bill issuance.
It seems that "Black Monday" has been averted, with global risk sentiment making a full reversal to start the week, and the precipitous selloff from Thursday and (Black) Friday turning into a furious rally on Monday, which has sent S&P futures up 1.4%.
