presidential election

"A Happy Trumpiversary to all our readers this morning"

       - Deutsche Bank

In what is sure to stir up a media storm of over analysis, the Kremlin has commented that there is a strong possibility that Donald Trump and Vladimir Putin will meet on the sidelines of the upcoming international summit in Vietnam.

Have we been lulled into a false sense of security about the future path of rates by ZIRP/NIRP policies? Central banks’ misguided efforts to engineer inflation have undoubtedly been woefully feeble, so far. As the Federal Reserve “valiantly” raises short rates, markets ignore its dot plot and yield curves continue to flatten. And thanks to Larry Summers, the term “secular stagnation” has entered the lexicon.  While it sure doesn't feel like it, could rates suddenly take off to the upside?

Award winning journalist and UN correspondent of 25 years, Joe Lauria, penned an outstanding article on the origins of “Russiagate” which he published to the liberal Huffington Post this week.

24 hours later, HuffPo yanked the article – leaving a dead link and a sad message in its place.

Authored by John Mauldin via MauldinEconomics.com,

This is something I’ve been pondering for some time. I think the next crisis will reveal how little liquidity there is in the credit markets, especially in the high-yield, lower-rated space.

Dodd–Frank has greatly limited the ability of banks to provide market-making opportunities and credit markets, a function that has been in their wheelhouse for well over a century.