It is the 27th of May 2017

News

Trump Turmoil Trounces Bullard Bullshit As Dollar Dives To 6-Month Lows

As President Trump jets towards The Middle East leaving behind him a wake of headlines from the mainstream media, we suspect this will help him sleep...

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Chinese Carmakers, Volkswagen, BMW Roll Out "Tesla Killers"

The much anticipated Tesla Model 3 has yet to be released and already a groundswell of electric car competition is forming to challenge Elon Musk's upcoming offering. Start in China, where the Model 3 is not due to arrive until next year, but already Chinese-funded, smart, connected plug-in car start-ups are scrambling to launch "Tesla killer" cars to go head-to-head against Tesla "mass market" sedan.

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Zimbabwe Central Bank To Accept Cows, TVs, Fridges As Collateral

Long before China Huishan Dairy Holdings, China's largest daily farmer, became known as the latest Chinese corporate fraud whose stock crashed 90% in seconds after a Muddy Waters report brought attention to its questionable shadow banking funding, exposing the company as a hollow sham and leading to the prompt departure of four of its directors who hope (in vain) to escape prison time, the company was best known for being the first ever company to do cow-collateralized stock buybacks.

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Bond Blooodbath - Treasuries Haven't Seen A Longer Losing-Streak Than This In 43 Years

Overnight saw Chinese money markets start to get angry and the Yuan tumble, Draghi didn't help, and Spicer's Glass-Steagal comments did not create hope - with credit, copper, crude, emerging markets, risk-parity funds, and now china all crumbling, is tomorrow's payroll print the catalyst for stocks to wake up?

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A "Multi-Billion Trade Meltdown" - Here Is The Reason For The Market's Inexplicable Surge

We have noted in the last few days the divergences between US equity and volatility markets and chatter of a major fund needing to liquidate positions. After today's price action (and more color from trading desks) we are starting to see the 'fingerprints' of what appears to be a multi-billion dollar forced short cover that has almost perfectly correlated with the linear surge in US stocks.

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RBC: "This Is The $1 Trillion Question On Our Clients' Minds"

With Dennis Gartman seemingly correct this time, and the market not only melting up, but in full "blow off top" mode, traders can only sit back and watch in quiet amazement how nothing can lead to even the most nominal of downticks. So in hopes of bringing some daily clarity, here is RBC's cross-asset head Charlie McElligott with his daily dose of market zen, focusing not only on the key events of the day, namely China's record credit injection and Yellen's more hawkish than expected Congressional testimony, but with an observation of what "continues to be the chief concern of clients on recent marketing swings", namely "The TRILLION dollar question: when does all of this “inflation as a good thing” tip over into “inflation with no growth”—aka STAGFLATION?"

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