"Current events have revealed that Ayn Rand’s novel Atlas Shrugged is not just fiction, but almost a prophesy. Elizabeth Warren’s Accountable Capitalism Act and the cronyism of Trump’s tariff policies are straight out of Rand’s novel. It won’t end well..."
“You’re collapsing a traditional bond issuance from a manual bookbuild process and allocation process, an extended settlement then a registrar and a custodian, into something that could happen online instantaneously.”
Traders remain on the sidelines spooked by the sudden drop in tech shares while keeping an eye on yields and currencies in the aftermath of the BOJ's half-hearted attempt to steepen the JGB yield curve.
"Calling someone a traitor for stating obvious facts that threaten the hysteria you’re trying to cultivate is a prime example of how this whole thing has turned into some creepy D.C. establishment religion."
On this quad-watching Friday, U.S. equity futures slide alongside Asian and European shares, after a torrid week full of political news and central bank developments, with Friday now anxiously eyeing the start of trade war between the US and China.