Contrary to the recently-heard narrative that markets fade and churn at highs before grinding lower, with folks saying there is “no real violence” at the inflection-point, actual market data shows something very different...
"No, the bond bull run is not over... There are still tremendous secular disinflationary forces in the world, including worsening demographics, which I view as critically important, as well as the outsized debt burden, both of which will ultimately constrain economic growth and cap bond yields."
The company's trading systems were recently upgraded to enable trading in bitcoin derivatives like the futures contracts offered by the CBOE and CME...
"We expect further disruptive trade developments over the coming months, including stalled NAFTA negotiations and potential restrictions on Chinese trade and investment."
"Don't put any money into bitcoin that you can't afford to lose. But I don't think we should ban it -- the green bills in your pocket don't have an intrinsic value, either. The value is based on what others think is its value. "
"We agree with the market’s hawkish assessment of Powell’s comments. At this point we see roughly even odds that the median dot will show 3 hikes (2.125%) or 4 hikes (2.375%) for 2018 in March" - Goldman Sachs
"It would take a big surprise from US ISM data to avoid a second monthly decline in global PMI measures. That, along with falling economic surprise indices, and signs that at a global level inflationary pressures aren't noticeably building, fuels the view that the growth spurt at the end of 2017 is now behind us."
Less than a week after Dallas Federal Reserve Bank President Robert Kaplan sounded the alarm over the level of debt that America's government is projected to carry, Fed Chair Jay Powell told Congress today that "the US is not on a sustainable fiscal path."
Circle Internet Financial, a cryptocurrency-focused financial-services firm backed by Goldman Sachs, announced that it is buying crypto exchange Poloniex, "a move that immediately makes Circle one of the largest and most influential companies in the industry"
"A real head-scratcher going forward is how the market will cope over the years and even decades to come with the central case scenario of higher and higher government debt around the world..."
After a relatively quiet, holiday-shortened week, the coming five days are shaping up to be volatile and extremely busy on the political, data and speaker front...
Global stocks have sprinted out of the gate in what right now is a sea of green, and S&P futures are currently at session highs, up 12 points or 0.4% as the dollar resumbles its plunge, sliding for a 3rd day as 10Y yield remain firmly below 2.90%.
