After the latest diplomatic scandal involving Donald Trump, which unleashed a frenzy of allegations that Trump is either a traitor or too dumb to govern for sharing allegedly confidential data to the Russian foreign minister, the angry response by Democrats - many of whom now demand hearings, transcripts, or worse - was predictable. What was unexpected was the loud criticism by some very prominent republican senators.
In its first bond sale since the presidential election and the first big test of investor sentiment after Emmanuel Macron won the presidency, France received more than €31 billion in demand for a 30-year bond offering, once again demonstarting the unprecedented demand for duration on the yield-starved continent where the ECB is happily gobbling up every interest-yielding instrument. With some €7 billion in ultra-long duration paper sold via a syndicate of banks, pricing at 30Y FRTR +12, tighter than the +14 price talk, the issue was more than 4 times oversubscribed.
While a second variant of the WannaCry(pt) ransomware (based on NSA's EternalBlue exploit) was spreading across the globe yesterday, The FT reports criminal hacking groups have repurposed a second classified cyber weapon stolen from US spies and have made it available on the so-called dark web.
Submitted by Mike Shedlock via MishTalk.com,
Some people I would normally expect not to lose their minds following anti-Trump hype did lose their minds. Of course, the standard nutcases one might expect would lose their minds did so as well.
The result is has been a steady stream of nonsense all day regarding Trump’s alleged disclosure of highly classified information to Russia.
From "Blain’s Morning Porridge – May 16th 2017" by Bill Blain of Mint Partners
“Now all them things that seemed so important, well mister, they vanished right into the air….”
I’ve been very fortunate this morning to spend 30 minutes in the company of perhaps the wisest man in the whole of London. Stuck in traffic on the way back from the West End, I discovered my mini-cab driver has a better approach and strategy for dealing with the daily misery that is modern life than any investment professional I’ve ever met.