Authored by Kevin Muir via The Macro Tourist blog,
Remember back in May when all the hedge funds were short Canadian Dollars up the whazoo? At the time, I was worried the excessive pessimism might cause CAD to rally (Loonie Bears are the New Cool Kids). Well, since then, the Loonie has rallied 6.50% even in the face of a collapsing oil price and increased worries about the popping of the Canadian real estate bubble.
As Wal-Mart ramps up its war against Amazon.com, it seems the retailer’s suppliers are increasingly being squeezed. After telling trucking companies that the retailer will no longer do business with them if they continue moving goods for Amazon, Wal Mart is now threatening to punish suppliers for delivering goods a day early. Here’s Bloomberg:
Long known for squeezing its vast network of suppliers, Wal-Mart Stores Inc. is about to step up the pressure.
As we're all well aware by now, once Trump was elected on November 8th the Fed suddenly decided it was no longer necessary to prop up asset prices in the United States with artificially low interest rates. As such, they've embarked on their first rate-hiking spree since the last one ended just over a decade ago.
During her tesimony this morning, Fed Chair Janet Yellen urged Congress to take into account the growth trajectory of the federal debt when making decisions about spending and taxation.
She said lawmakers need to work toward achieving "sustainability of this debt path over time," ...
"Let me state in the strongest possible terms that I agree" the U.S. federal debt trend is unsustainable, may hurt productivity, and living standards of Americans.
Step aside "50 cent", there is a new mystery vol trader on the block, one who is certain that a vol quake is about to strike US Treasurys.