Authored by Simon Black via SovereignMan.com,
In a poll conducted a few days ago by NBC News / Wall Street Journal, a record 57% of Americans responded that they want MORE government in their lives, and that the government should be doing more to solve people’s problems.
That’s the highest percentage since they started asking this question in 1995.
In fact, 57% is nearly double what people responded in the mid-90s.
The next two weeks in France...
According to the bookies, it's a done deal...
Stocks Up, Oil Down
So stocks soared... Trannies best on the day but Nasdaq hit a new record high, desperately trying to tag 6,000...
Last week we noted that Goldman posted a 'yuge' miss in fixed income trading of $335 million (see "Goldman Misses As FICC Disappoints, Stock Slides As Average Banker Comp Hits $360K"):
Broken down by key operating group, most segments reported numbers that beat expectations with the exception of FICC:
Ahead of Trump's much anticipated tax announcement on Wednesday, the WSJ reports that the president has ordered his (mostly ex-Goldman) White House aides to accelerate efforts to create a tax plan "slashing the corporate rate to 15% and prioritizing cuts in tax rates over an attempt to not increase the deficit" which means that without an offsetting source of revenue, Trump is about to unleash the debt spigots, a proposal which will face fierce pushback from conservatives as it is nothing more than a continuation of the status quo under the Obama administration, and may well be DOA.
It appears the hope that a centrist candidate will win the French election is enough to trump tumbling macro-economic data, disappointing earnings, and flailing inflation in the US economy. June rate hike odds have spiked to 69% overnight (even as debt ceiling risks begin to price in... and the dollar drops)...
So The Fed gets the all-clear from the market to hike in June...
Even as the Treasury Bill curve inverts over debt ceiling fears...
And the Dollar is not buying it at all...