JPM's head quant Marko Kolanovic is best known for timing the market's inflection points and quantifying - in plain English - the marginal buying and selling technicals at any given moment. In his latest overnight note he does not disappoint, explaining in simple terms "what the fate of the market rally is." We will give readers his answer... tomorrow.
"There are no signs of a US recession anytime soon"... apart from these nine charts that is..
Source: @DonDraperClone
Of course, even The Fed is forced to admit that recession probabilities are rising fast...
The latest reading from last November is higher than all but 3 months (in the last 50 years) when a recession did not immediately proceed.
Former ambassador to the U.N. John Bolton administered a heavy dose of alarmism to CPAC during his speech on Thursday morning.
Now a senior fellow at the American Enterprise Institute, Bolton primarily used the platform to bash Hillary Clinton, even though there were presumably no Clinton supporters in the audience to be persuaded. He framed his argument by systematically critiquing her foreign policy, but the statements he made on the South China Sea bordered on fear mongering.
Insanity... Just Obey!
h/t The Burning Platform
Know your place..
h/t The Burning Platform
As Doug Casey summarized so eloquently, the political system in the United States has, like all systems which grow old and large, become moribund and corrupt.
For the 11th week in a row, US oil rig counts declined (down 8 this week to 392). This is the first drop below 400 oil rigs since Dec 2009.
Judgiung by the neat perfect correlation between rig counts and lagged oil prices, we would expect further declines before any re-increase occurred.
Perhaps even more stunning, the total US rig count dropped to 489 rigs last week. 1 above the all-time record low 488 seen in April 1999...