In his latest note this morning, DB's Jim Reid admits that "I've no idea why Bunds are rallying so hard at the moment." That said, he does attempt to provide some reasons noting that 10y yields (-4.7bps) hit 0.228% yesterday, down from their YTD peak of 0.495% intraday on the 26th of January. 2y yields also closed another -3.0bps lower yesterday at -0.932%. They traded as ‘high’ as -0.648% back on the same day.
The near-record string of 10 consecutive Dow Industrials record highs, a streak not seen since early 1987, may be about to end if futures, which are currently trading -0.3% lower, fail to stage a rebound.
Submitted by Daniel Mitchell via The Foundation for Economic Education,
Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts.
Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency.
And this means that, sooner or later, the proverbial wheels are going to fall off the bus. And it might be sooner.
Submitted by Saxo Group's Jack Davies, via TradingFloor.com,
What happens when a prolific progressive Huffington Post contributor deviates from the narrative and publishes an article admitting Donald Trump was correct about something?
HuffPo deletes the article and bans the guy, of course!
Norwegian journalist, author, and world traveler René Zografos had the audacity to suggest that Donald Trump was telling the truth about Sweden's ongoing nightmare related to the violent tidal wave of predominantly North African refugees. Zografos wrote: