By Bill Blain of Mint Partners, Blain’s Morning Porridge – June 29th 2017
What a difference a day makes
“And a new day will dawn for those who stand long, and the forests will echo with laughter.”
What a fascinating week this is shaping up to be – on Monday I speculated it was going to be about Central Bankers re-thinking where we are. I guess I guessed right.
One of my colleagues from BGC, Ara Levonian, summed it up nicely in his daily comment this morning:
The euro soared to the highest level in over a year while bond yields and global shares also climbed, as an ongoing barrage of coordinated hawkish comments from central banks signaled the era of easy money might be coming to an end for more than just the United States. S&P futures were fractionally in the green following the best day for US equities in two months, as banks climbed after passing the Fed's stress tests and announcing bigger than expected shareholder payouts.
Authored by Brandon Smith via Alt-Market.com,
I have written on the subject of the Federal Reserve's deliberate sabotage of the U.S. economy many times in the past. In fact, I even once referred to the Fed as an "economic suicide bomber." I still believe the label fits perfectly, and the Fed's recent actions I think directly confirm my accusations.
Auto manufacturers have been bracing for a slump in car sales in the coming years as ownership rates for younger generations are expected to slump. Their reasoning? Millennials and their ilk tend to favor experiences over luxury goods, while also tending to cluster in urban settings where public transportation is easily accessible.