Authored by Bonner & Partners' Bill Bonner, annotated by Acting-Man's Pater Tenebrarum,
Permanently Skewed
TRUMP HOTEL, New York – Trump’s rambling army – professionals, amateurs, camp followers, and profiteers – is marching south, down the I-95 corridor. There, on the banks of the Potomac, it will fight its next big battle.
Lieutenants in Trump’s army: Bannon, Flynn & Sessions
The following is from 11/19/2016 and can be seen at Trader Scott's Market Blog:
(As an intro to this post and for better perspective, this previous blog post "Trump v. Clinton" was written before the election):
The challenges facing Germany's second-largest shipping lender, German Landersbank NordLB first emerged this summer, when we reported that the bank was considering taking full control of its smaller, distressed peer, Bremer Landesbank (BLB), which was struggling under the weight of a portfolio of bad shipping loans in what effectively constituted a state-backed bailout. BLB, of which NordLB already owns 54.8%, had warned that it would have to take a €400m writedown on its shipping portfolio, and that as a result it was facing a “mid-triple-digit million loss” this year.
With less than a week to go until the much anticipated OPEC meeting in Vienna on November 30, the oil exporting cartel still seems unable to determine the terms of production cut quotas, who will be exempt from cutting, and even who will participate. According to Reuters, in the latest twist to emerge, as OPEC tries to find the sweet spot for production that reduces the oversupply of crude, the organization will ask non-OPEC oil producers to also make big cuts in output, as it seeks to share the burden of declining output and prevent market share gains by non-OPEC nations.
Don't let the fact that US equity markets are closed hold back the exuberant melt-up that a Trump victory has unleahed in capital markets. Echoing a normal non-holiday trading day, 0930ET came around and US equity futures kneejerk ramped higher, pushing Dow futures up above 19,100...
Vacation... no problem!
The 12th opening ramp of the last 14 days...