Given the not-if-but-when nature of Kushner’s departure from the White House, it’s none too soon for media outlets to prepare themselves. With that in mind, here is a prospective political obituary for him...
"We think January was the top for sentiment, if not prices, for the year. With volatility moving higher we think it will be difficult for institutional clients to gross up to or beyond the January peaks" - Morgan Stanley
Having rejected a plan for imposing $30 billion in tariffs on Chinese imports last week, saying they weren't big enough; President Trump is reportedly planning to unveil by Friday, a package of $60 billion in annual tariffs against China.
Following the 'good' news that G-20 will not be cracking down on cryptos, removing the FUD from the weekend, Bitcoin and its peers are extending gains after Bank of Japan's Governor Haruhiko Kuroda said "cryptocurrencies can be a plus for the financial system."
This week is shaping up to be one of the busiest for global economic and political events in recent memory. From the overnight selection of a new governor at the People’s Bank of China, to the year's first G-20 meeting, to Powell's first Fed rate hike, there is no shortage of events to follow.
"We expect TSLA to announce its 1Q18 deliveries shortly after the quarter ends (given historical precedent); and based on the QTD February cadence, we believe the company is tracking below its 2018 Model S/X guidance of approx. 100k units (an implied 25,000 per quarter)."
Global stocks and S&P futures point to a lower open on Monday, and Wall Street analysts are faced with a veritable smorgasboard of catalysts and explanations for the weak start to the week.
"I turned bearish on global stocks in this column on Jan. 31, and have since repeatedly said that equities won’t find a solid base to bounce from until yields cool, investors deleverage and bears prowl openly."
"Look around you, step back from the craziness and see the bigger picture. When you do you just see a bunch of incompetent, venal people covering their asses..."
After years of torrid demand for any yield and paper, the corporate bond market has been gripped by an unexpectedly strong hangover. A tipping point comes next with major consequences for the equity market.
The collective market cap of Apple, Facebook, Amazon, Netflix and Google (also known as FANG + Apple) has grown by more than 40% in the past year to $3 trillion, and now accounts for a staggering 25% of the Nasdaq... and some investors are starting to worry.
"...we refuse to give him a free exit pass. Because when the big bank bailout was hatched out, Blankfein was in the middle of it, egging on Goldman cronies Hank Paulson and Neel Kashkari, and ensuring his bank’s access to a lifeline of taxpayer liquidity..."
"The administration is disappointed with China and because there wasn’t a path back toward a market orientation, I discontinued the China economic dialogue,"said the Treasury’s undersecretary for international affairs, David Malpass.
In a somewhat surprising announcement, the WSJ reports that President Xi Jinping has picked PBOC deputy governor Yi Gang to run the country's central bank, a reversal from recent rumors that put Liu He as the frontrunner to replace outgoing PBOC governor Zhou Xiachuan.
We had been wondering for the past few months why SocGen turned surprisingly sour on the S&P in late 2017 and early 2018. We now may know the answer: Societe Generale has cut bonuses for its traders by as much as 25%.
" The general assumption when one hears the term - World War III - is that 'nuclear conflict' is imminent... but a world war does not necessarily have to be fought with nukes..."
