Bank (Un)earnings: Why FICC Is Shrinking And Will Continue To
Submitted by Jeffrey Snider via Alhambra Investment Partners,
Submitted by Jeffrey Snider via Alhambra Investment Partners,
Here’s a link to National Review‘s big “Standing Athwart Trump Yelling ‘Stop!'” symposium. Here are excerpts from the short pieces I found most effective. R.R. Reno writes:
One week ago, in the aftermath of the dramatic downgrade to junk of Asian commodity giant Noble Group, we showed readers the list of potential "fallen angel" companies, those "investment "grade companies (such as Freeport McMoRan whose CDS trades at near-default levels) who are about to be badly junked, focusing on the 18 or so US energy companies that are about to lose their investment grade rating.
A young winner of the Georgia state lottery has been murdered at his home by armed robbers looking for his cash. Craigory Burch Jr, 20, was shot dead at his home by a gang of masked raiders after offering them his wallet and pleading for his life in front of his girlfriend and kids. Burch Jr had scooped almost half a million dollars in November’s Fatasy5 draw. The Mirror reports: On Thursday night, armed raiders broken into Burch’s home, where he was with his girlfriend and children, WALB reported.
In November of 2014, we announced the quiet death of the petrodollar.
The system which underwrote decades of dollar dominance and kept a perpetual bid under USD assets met an untimely demise when the Saudis moved to bankrupt the US shale complex by deliberately suppressing oil prices.
The implications, we said, would be far-reaching.