Investors in U.S. equities have been buying stocks based on an assumption that the incoming administration will be “pro-business” (lower corporate taxes and less regulation). For the most part, investors are correct to assume that, …
Continue readingWhite House
Yesterday IBM’s CEO Ginni Rometty wrote an open letter to President-elect Trump offering: ideas that I believe will help achieve the aspiration you articulated and that can advance a national agenda in a time of profound …
Continue readingIn the lead up to Tuesday’s election, I am trying to recall if I heard or read a market participant or pundit who accurately predicted a stock market rally in the event of a Trump victory. I …
Continue readingPrior to the the UK’s Brexit vote in late June, I took a fairly apathetic view to the prospects of a Leave vote, and expected the people of the UK to vote to Remain in the …
Continue readingOn Friday Federal Reserve Chairwoman Janet Yellen said what we already knew: “In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an …
Continue readingOn Monday’s Fast Money on CNBC we had on Société Générale’s Global Head of Economics, Michala Marcussen, who laid out what she feels are the key risks to the current fragile state of the global economy, and …
Continue readingAnother day, another proposed mega-deal. M&A is the big story of this stage of the bull run. Market participants became too familiar with special dividends in 2013, and corporate financiers moved towards massively increasing share buybacks …
Continue readingThe VIX is finally starting to take notice of the insanity of holding the debt ceiling hostage and the ramifications of going through the Oct 17th deadline. With the spot VIX over 20 today, our …
Continue readingWith the market falling below its 50 day moving average and no clear end in sight out of DC, the VIX trade is now worth 75c. We’ll take this opportunity to take half off for …
Continue readingThe stalemate on Capitol Hill continues. The market has had a small bounce today on news that the White House will meet with congressional leaders after the close of trading today but we’re not expecting …
Continue reading