Business

In the past few days two Federal Reserve presidents have discussed cryptocurrencies and concluded they are "niche" and "don't matter today."

The total market capitalization of the entire cryptocurrency space is around $300 billion - smaller than the Top 10 names in the S&P 500.

In the last three years, Bitcoin has gained a similar amount of market cap as Nvidia...

A de minimus percentage of Americans are exposed to Bitcoin and crypto-currencies.

The longest short-squeeze streak in history continues...

Unless the world comes to a very serious end overnight, global equity markets are about to do something they have never done before... rise for 13 consecutive months.

Not one losing month so far in 2017...

The global equity gauge was on course to finish November with its 13th straight monthly gain – the longest monthly winning streak in the index’s 30-year history. The total gain over the 13 months nears 23 percent.

But then again.. the world has also never seen so many central banks, printing so much money, for so long a time...

Authored by David Stockman via Contra Corner blog,

The lemmings are now in full stampede toward the cliffs. You can literally hear the cold waters churning, foaming and crashing on the boulders far below.

Over the weekend, we published an analysis from Citigroup looking at how long after the yield curve inverts do investors "have to worry."  The results were interesting: as Citi wrote, while sometimes inversion provides a timely signal for the economic cycle a la 2000, "where Professor Curve predicted almost the ding-dong high in the SPX", other times, like the 2006 inversion, dished up 7 months of pain for equity bears, with 18% further upside for the SPX. The same occurred for the 1989 episode where equities continued to rally 22% into the 1990 recession.