Business

Via Disobedient Media

Documents leaked online today appear to show that French Presidential Candidate Emmanuel Macron entered into an operating agreement for a Limited Liability Company (LLC) in the Caribbean island of Nevis, and that the company may have had a business relationship with a bank which has been previously involved in tax evasion cases in the Cayman Islands. Macron claimed he was not concealing assets or holding secret offshore accounts less than a month ago.

As expected, there were no fireworks in the Fed statement which on balance was rather hawkish thanks to the Fed's explicit assurance that recent weak data was "transitory" (we wonder how the "data-dependent" Fed will react if the weakness is not transitory). And as the Wall Street reactions start trickling in, the consensus is that the Fed remains on "autopilot" until June, when it will hike once again.

From just below 70% before to 94% now, June is on like Donkey Kong -

No matter how shitty economic data is...

The reaction in asset markets is modest to say the least...

Citi: “Treasuries are only modestly weaker in the wake of the Fed, in line with the interpretation that very little was said and the big story of the day remains the lower odds of an ultra-long bond”

The Dollar Index is higher (though the siz of the move is marginal)

Having perfectly top-ticked US economic data with its March rate-hike, the subsequent collapse in 'data' has been shrugged off as transitory (or seasonal) and by all indications The Fed seems set on two more rate hikes this year no matter what (even as the market diverges dovishly).

Authored by Daniel Lang via SHTFplan.com,

There aren’t any surefire ways to tell if the stock market, and perhaps the rest of the economy, is about to take a nosedive. That’s because millions of people with millions of ideas are involved, so it’s an inherently unpredictable system. However, there are certain players in our economy that have a lot more influence and insider knowledge than the rest of us. So when they make a move in unison, you know there’s a good chance that something is about to go down.