Business

As the euphoria generated by the election of Donald Trump subsides, ebbing away like a strange and fantastic dream, the financial markets are coming to realize that the promises of tax cuts, spending hikes and deregulation are empty.  One very tall central banker we know, for example, is no longer worried about his eponymous rule prohibiting bank principal trading being repealed.  Thus we all mentally reset the quantum monetary clock back to the week prior to the November ’16 election and ask: what next?

"Warning! US equities can occasionally go down as well as up a lot."

As excerpeted from today's edition of Bill Blain’s Morning Porridge

“Americans can always be counted upon to do the right thing.. after they have exhausted all other possibilities..”

So finally I got something right(ish) when I wrote about the imminent Trump Dump y’day.

Via MintPressNews.com,

While often remembered for his philanthropy, the last surviving grandson of America’s first billionaire died today, leaving behind a dark legacy indicative of how American nobility often shape policy from behind the scenes.

As is customary virtually every time the Chinese central bank commences some form of tightening, overnight the PBOC injected "hundreds of billions of yuan into the financial system after some smaller lenders failed to repay borrowings in the interbank market", according to people familiar with the matter.