The Week That Was

  • And If you were … (TWTW – Sept 11 – 15, 2017) September 18, 2017 - “And If you were” … In Venezuela or Ecuador, or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than U.S. Dollars … Jamie Dimon, CEO, JPMorgan, on Bitcoin, adding that he’d fire any trader at his firm dealing in Continue Reading
  • “Surprise” Stephen … (TWTW – Sept 4-8, 2017) September 10, 2017 - “Surprise” Stephen … Well, one thing is for certain, markets didn’t see Stephen Poloz coming with his second 25bps hike, delivered this week. The consensus was – later aka October, likely – but September, nope, et pourtant – a second BoC hike materialized… CAD surged, and meanwhile, the odds of a further hike by year end are nearing certainty. My Continue Reading
  • Probable Termination (TWTW – Aug 21-25, 2017) August 28, 2017 - Probable Termination – President Trump – at his finest “posturing” – this time with regards to #NAFTA, the renegotiations of which, naturally – MUST produce for him a tremendous SUCCESS … Hence his uttering the notion the agreement will probably have to be terminated as he otherwise doubts renegotiations will yield that for him … Latest Developments: Impact on Energy? Continue Reading
  • Alt Trump (TWTW – Aug 14-18, 2017) August 20, 2017 - Alt Trump –  It’s getting lonely on planet Trump, no matter what the luxurious trappings. And consistently succeeding in alienating one and all has got to have its drawbacks. In terms of additional fireworks on the way to getting even more folks upset, respectively even less accomplished overall (?) – enter NAFTA re-negotiations – The joy of it all. Interesting Continue Reading
  • Fire and Fury (TWTW – Aug 7-11, 2017) August 12, 2017 - Fire and Fury – Locked and Loaded … the rhetoric heated up significantly this past week, with President Trump signalling he wouldn’t tolerate North Korea making threats against US territory.  Not to be outdone (do we really need that? isn’t one potentially trigger happy leader enough?), North Korea’s leader Kim Jong Un responded by threatening Guam, where the US maintains Continue Reading
  • Divergence (TWTW – Jul 31-Aug 4, 2017) August 8, 2017 - Divergence – While the Dow crossed the 22,000 level last week, Transports struggle, and as noted by pundits, many companies beating earnings and even guiding higher for 2017 aren’t being “rewarded” by the market post “beat”. A change of “fortunes” going forward? July Payrolls beat as well, and unemployment dipped to 4.3%. Room for further hikes by the FED this Continue Reading
  • Red Line? (TWTW – July 24-28, 2017) July 31, 2017 - Red Line? North Korea’s continued defiance of the US – via a second ICBM launch test on Friday – is probably the last thing the US Administration needs after an overwhelming week on the Washington dysfunction front … Skinny Healthcare: defeated, courtesy Senator John McCain striking the final blow to it; Trump’s new communications director: went on a profane language Continue Reading
  • Sweet #MAGA (TWTW – July 17-21, 2017) July 24, 2017 - Sweet #MAGA – Or … Sweet Nothing, which seems to be what the Administration has accomplished thus far on numerous fronts… Oh well, at least a weaker USD provides a window for the FED to continue to hike rates, even if Janet Yellen remains a perma Dove, and US stocks continue to do rather well, overpriced or not … Last Continue Reading
  • Suppressing Decoherence (TWTW – July 10-14, 2017) July 16, 2017 - Suppressing Decoherence – A Quantum Computing concept that capture well the essence of what Central Bankers face going forward as they push ahead with a long overdue normalization … Getting out from under the massive damage inflicted by the 2008/2009 Global Financial crisis has proven no small feat, and any glitches from here could demonstrate that again … That said Continue Reading
  • Rising Rates (TWTW – Jul 3-7, 2017) July 10, 2017 - And it is a 94% probability event … that the BoC will hike rates this week, on the back of a strong Canadian Employment number on Friday. State-side, the US also enjoyed a stronger than expected NFP number, with upward revisions to prior readings. All-in … Not good for bonds, where yields have continued to climb of late – in Continue Reading