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Gross is being sued by his neighbors for 'inflicting emotional distress'...

America’s wealthiest county surrenders to Critical Race Theory twaddle

Senior editor Ash Bennington welcomes Tony Greer of TG Macro back to the Daily Briefing to make sense of price action in equities, bonds, currencies, and…

Can you think of any other time in the history of the United States when measures have been taken in advance to try to prevent a presidential candidate from declaring victory on the night of the election? 

One lesson we have learned this year is we should not expect things to revert to normal anytime soon...

According to Politico, 44% of Republicans and 41% of Democrats believe there would be at least “a little” justification for violence if the other party’s nominee wins the election

Despite smashing expectations across the board, Microsoft stock barely moved as it was already priced to perfection.

The fuel tanks are almost empty and we're still 1,000 miles from land...

"...I’m skeptical that three to five years out that equities will give us any kind of return... gold prices will be higher"

The core "money helicopter" trend remains intact: the larger the auction the lower the yield

"Call vs put 2w skew on US long-term bond is close to an historical low and risk reversals could be an attractive hedge for lower rates."

Blue chip sports cards may actually be a better investment than blue chip stocks, at least over the last decade.

"We recently received a job application with the email subject, “I am young, but good at investments” from a 13-year-old who purports to have quadrupled his money since February." - David Einhorn

The K-shaped recovery has helped the fortunate remain relatively insulated from the pandemic but the financial bubble is set to burst. And none of this even hinges on the complacent pricing around the U.S. election risks.

Inflows to ESG funds have skyrocketed to $22 billion in 2020 so far...

"... a Biden win means higher taxes and more regulation. That’s bad for the market... we got a small taste Monday of the downside that’s coming in the US stock market."

...leaving the bagholders behind?

Now that the mid-Atlantic region is getting hit by a second (and in some cases third) wave of infections, it's all downhill from the record print.

The Labor Differential improved to 6.6 (jobs are easier to get) - its highest since March - but plans to buy cars and major appliances slumped (homes rose modestly) as expectations for income gains in the next 12 months dropped.