Business

President-elect Donald Trump is filling his high-ranking cabinet positions with all sorts of picks, ushering in an era of either utter confusion or revolutionary action. He met with a candidate who wants to end the Federal Reserve banking system and take the power away from the Elite. A tall task that has proved costly for previous presidents. Anti Media reports: On Monday, after meeting with Goldman COO Gary Cohn, the president-elect had a one-on-one with a wildly outlandish candidate for Treasury Secretary who has flown a bit under the radar.

RBC's head of US cross-asset strategy, Charlie McElligott wants to "bang you over the head in order to expose the tectonic shift being experienced in markets on the narrative / regime shift."

After a succinct and clarifying commentary:

Submitted by Lance Roberts via RealInvestmentAdvice.com,

Bull Market Exuberance

As I addressed on Tuesday, the exuberance in the markets following the election, is getting just a bit overdone. To wit:

In one of the day's more puzzling developments, the Mexican peso tumbled on news that the head of the Mexican central bank, Augusten Carstens, who several years ago competed against Christine Lagarde for the top IMF post, announced he would unexpectedly stand down from his post next July. The term of the 58-year-old Carstens, who headed the central bank since 2010, was due to conclude at the end of 2021, which makes today's announcement particularly surprising.

Today's massacre in money markets has seen global bonds crushed but US Treasuries dramatically underperforming. In fact, as Gavekal Capital's Eric Bush notes, the last time the spread between US and German 10-year government bonds had such a large yield differential was on May 10th, 1989, as in before the fall of the Berlin Wall.

The official date that the Berlin Wall fell is November 9th, 1989. Let that sink in for moment.