Tuesday, August 2, 2016

Trump Urges His Supporters To Sell Stocks, Warns Of "Very Scary Scenarios" For Investors...

Now that we are exactly three months away from the November 8 election, if Trump wants to really boost his electoral chances, a market crash right now be certainly most welcome by his campaign. Which may be why Trump today urged his supporters to get out of equities as "interest rates set by the Federal Reserve are inflating the stock market" and warned of "very scary scenarios" for investors.

Fitch Sees $3.8 Trillion Of Losses For "Investment-Grade" Sovereign Bond Investors

Fitch finds that a reversion of rates to 2011 levels for $37.7 trillion worth of investment-grade sovereign bonds could drive market losses of as much as $3.8 trillion..

A "1 In 10,000 Year Event": JPM Head Quant Explains Why The S&P Refuses To Sell Off

"... one would expect this scenario to happen once every ~10,000 years. The fact that we see this type of behavior demonstrates market inefficiency—in this case driven by hedging of option exposure. Quite literally, the market was pinned. Over the past 3 weeks, the amount of call options exceeding put options (in terms of gamma exposure) averaged almost $40bn (per 1%), which is the largest call to put gamma imbalance ever observed."

Is Trump The Peace Candidate?

By suggesting the U.S. might not honor its NATO commitment to fight Russia for Estonia, our foreign-policy elites declaimed, Trump has undermined the security architecture that has kept the peace for 65 years. More interesting, however, was the reaction of Middle America. Or, to be more exact, the nonreaction. Americans seem neither shocked nor horrified. What does this suggest? Behind the war guarantees America has issued to scores of nations in Europe, the Mideast and Asia since 1949, the bedrock of public support that existed during the Cold War has crumbled.

Artist's Impression Of Rio Olympics Opening Ceremony


Establishment Republicans Voting For Hillary Surge As Obama Challenges Leaders To Disavow Trump

Donald Trump "is unfit to be President" according to President Obama who challenged congressional Republicans who have criticized their presidential nominee to disavow his candidacy... "What does this say about your party that this is your standard bearer?"

Biogen Soars On Merck, Allergan Takeover Rumor; Pushes Nasdaq Biotech Index Green

Moments ago, with the market in need of a catalyst to avoid breaching the dreaded 2,150 support level (as explained earlier by JPM's Marko Kolanovic), it got that and more, when a WSJ story, ostensibly leaked by the paper's traditional Goldman-based M&A source, hit about a takeover of Biogen by Merck and Allergan, sent the stock soaring, now higher by over 8%, to a market cap of $71 billion.

Aetna Posts $300 Million Obamacare Loss, Warns May Exit Altogether

After every other major US health insurance provider admitted to generating substantial losses on Obamcare, earlier today Aetna became the latest to report that its annual loss on Obamacare plans would be more than $300 million. More ominously, Aetna joined the biggest US health insurer UnitedHealth in reviewing how, if at all, it would continue providing ACA services in the 15 states it's currently in.

Ron Paul: "Americans Are Going To Be Disappointed" In Election Outcome

Clinton does not understand that a policy of endless interventionism has brought us to our knees and made us far weaker. Does she really expect us to be the policemen of the world with $20 trillion in debt? Likewise, Republican candidate Donald Trump misses the point. He promises to bring back jobs to America without any understanding of the policies that led to their departure in the first place.

What Could Possibly Go Wrong Here?

It's probably nothing...

David Stockman Rants Against The Dangers & Digressions Of The Donald's Demagoguery

"Making America great" is about unleashing the nation’s capitalists again. It’s an expression that prosperity is not bestowed by the state but won by the kind of builders, investors, innovators and workers that The Donald fancies to be the essence of Trump Inc. To that extent, Donald Trump could be regarded as an incipient anti-statist. While this might seem like an overly generous characterization, it is a measure, alas, of the degree to which the bipartisan “policy” consensus against him has congealed around what is essentially a Keynesian axiom of endless macroeconomic intervention and “stimulus”.

Why Seven Million Student Loan Defaulters Are In A Standoff With Uncle Sam

"The government should have never extended [us] so much debt for jobs that are in low demand."

What Pokémon Go Teaches Us About Capitalism

Though millennials have tended to explicitly reject capitalism at ballot boxes around the world, their embrace with Pokémon Go betrays an unexpected acceptance of inequality as well as a penchant for playing the odds in red-in-tooth-and-claw competition.

ETF Inflows Soar To $43 Billion In July, Most Since 2014

According to our friends at TrimTabs, contrary to speculation that "money remains on the sidelines", far from the "most hated rally ever", the month of July saw a near-record $43.0 billion in new cash added to bond, commodity, and equity exchange-traded funds in July, the biggest monthly inflow since December 2014, when these funds hauled in $50.7 billion.

EU's "Lyin'" Jean-Claude Juncker Keeps "Little Black Book" Of People Who Betray Him

Jean-Claude Juncker, head of the European Commission, is most famous for a 2011 quote about the Greek financial crisis, during which he stated: "When it becomes serious, you have to lie." But that’s just one of many disturbing statements from the man. Clearly, this is a very sick and twisted human being, but it gets worse… Juncker has revealed he has a little black book called ‘Little Maurice’ in which he lists the names of people who have “betrayed” him.

As Oil Crashes Under $40, How Much Further Can It Drop

Well that escalated quickly. Having toyed with the $39-handle yesterday, this morning's plunge has erased those stops.

Donald Trump To Respond To Warren Buffett In Latest Campaign Speech - Live Feed

I don’t care much about Warren Buffett...he’s a Democrat. He’s been a Hillary fan for a long time, and I think that’s fine. Hillary’s a disaster.

NYPD Chief Bratton Resigns After Angry "Black Lives Matter" Protests

One day after about a 100 protesters gathered in Lower Manhattan Monday, calling for an end to police brutality and the firing of NYPD Commissioner William Bratton, they got just what they wanted and moments ago NYPD Commissioner, news broke that Bill Bratton is set to resign later today according to ABC. Mayor Bill de Blasio is expected to announce Bratton’s departure today, along with his succession by NYPD chief James P. O’Neill.

European Bank Bloodbath Destroys Stress Test Credibility

If the goal of the EBA Stress Tests was to reassure investors and regain confidence that 'all is well' in Europe's increasingly fragile and systemically interconnected banking system, then it has utterly failed. The broadest European bank stock index is now down 7% from the post-stress-test spike highs, Italian banks are at record lows and being halted (despite Renzi's promises), Commerzbank is struggling with capital raise chatter, and Deutsche Bank and Credit Suisse are tumbling after being booted from the Stoxx 50.


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