Business

Overheard in the Oval Office when Yellen unleashes her rate hike into dismal economic growth expectations tomorrow...

Since the last fed rate hike, bonds are lower, banks are best...

Via ConvergEx's Nicholas Colas,

As we first documented last week in "Mega-Bears Smell Blood As Mall REITs Tumble" and as Bloomberg followed up yesterday, looking at CMBS on the Mall REIT space, many have set their sights on mall REITs as the "next big short." However, an obvious question that has emerged is whether it is too late to go all in on this particular short, or whether as some have suggested, the bottom is in.  “The short feels crowded to us,” said Matthew Weinstein, principal at Axonic Capital, a hedge fund that specializes in structured products.

Authored by Irina Slav via OilPrice.com,

A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers.

According to one service provider for E&Ps, trucker jobs remain vacant even with an annual paycheck of $80,000, which is certainly a big change from a couple of years ago when layoffs were sweeping through the shale patch.

While Fed Funds futures imply a 100% probability that The Fed hikes rate by 25bps tomorrow, it appears questions over Trump's policy timeline combined with the collapse in GDP expectations has dragged expectations for another rate hike in June back to its lowest since the election...

As GDP growth expectations have plunged so April Fed Funds futures have tumbled - completely against the common sense that The Fed hikes into strength, not weakness...

But the lower chart shows the July futures not following the collapse and fading that disappointment.