Update: Following Trump's Springfield, MO speech, Treasury Secratary Steve Mnuchin issued the following statement which, much like the Presidnet's speech, calls for more jobs, higher wages, higher GDP growth, sugar, spice and everything nice....yet provides absolutely no details on how to accomplish any of it.
With just one month left until the Treasury "X-date", or the moment when it would run out of cash without a debt-ceiling resolution...
... the time has come for dire, apocalyptic threats to spook Congress into action and specifically reaching a compromise on a debt ceiling resolution, and S&P - which infamously downgraded the US in 2011 during the last debt ceiling fiasco - is happy to be the source of bad news.
The machines have achieved their short-term goal (getting the S&P above its 50-day moving-average), next is getting green for the month.
Once again, the US market open triggered a panic-buying bid under mega-cap US Tech stocks...
Little more than a day after Dara Khosrowshahi decided to accept the Uber board’s offer to become the embattled ride-share company’s new CEO – after the company’s top two candidates dropped out of the running - he received a welcome-aboard present that was just so…Uber.
While the concept of 'independence' among the unelected central bank cognoscenti is as cute as the tooth fairy or santa claus, it is nevertheless defended by those on high as sacrosanct to our very democracy. That is until The Wall Street Journal's editorial board finally had enough of Fed officials joining the 'resistance' against financial reform...
Via WSJ,