China is doing everything in its power "to maintain stability of capital markets and avoid a vicious circle of default and panic selling, causing markets to spiral down further." - Morgan Stanley
"The statisticians are simply peddling a myth, which leaves it wide open to abuse. The myth-makers, so long as the myths are believed, control the narrative..."
"The economy has hit a wall and is now sliding down it. I don’t care what bullish propaganda may or may not be bubbling up in the headlines from the financial media and Wall Street, the hard numbers I look at everyday show accelerating economic weakness. "
The BLS will publish the June jobs report at 830am ET on Friday, just hours after Trump declares trade war on China. Here's what to look for in tomorrow's report.
Japanese cash wages soared by 2.1% y/y in May, up from 0.6% in April and more than double the median estimate of 0.9%, matching the fastest increase since 1994. And yet, at the same time, household spending tumbled at the fast pace in 2 years...
"If, against all odds, the rule of law is restored in the US and the lawless actors infesting the governing class/controlling the instrumentalities of power are brought to justice, the profound and breath-takingly stunning 'gravity of it all' would rapidly turn greed into fear in terms of so-called “traditional asset” valuations. "
"Bitcoin will never go to zero because it is a hedge against falling currencies, inefficient economies and increasingly systemic inequality. Bitcoin represents the currency of a better future for society, and people will always invest in their future."
Combining the sudden shift in the supply picture, with the ongoing weakness on a relative value between IG and HY, the message is clear: it is only a matter of time before the carpet is pulled from under the pile of junk.
Potentially in response to Trump's actions on China Mobile, a Chinese court temporarily banned Micron Technology chip sales, cutting the U.S. company off from the world’s largest semiconductor market.
With only a market crash able to stop trade war escalation, what message does Trump get as the market surges ahead of the next round in global trade warfare?
The hammer has finally come down on the former head of state and scion of one of Malaysia's most influential political families, and - allegedly - one of the biggest embezzlers in the country's history.
"Borrowing cash to settle claims has become increasingly expensive, thanks to the Fed's efforts to remove monetary accommodation and tighten financial conditions."
