It appears the sugar-high from holiday celebrations is still running through president-elect Trump's veins as his tweets took an even more narcisistic tone on this oh-so-aptly-named 'Boxing Day' in America.
First Trump decided to take credit for the unprecedented short-squeeze in US stock markets - and the Christmas spending numbers...
The world was gloomy before I won - there was no hope. Now the market is up nearly 10% and Christmas spending is over a trillion dollars!
— Donald J. Trump (@realDonaldTrump) December 26, 2016
We just wonder what he will sat if/when Goldman Sachs stops rising and stocks tumble ("never gonna happen", probably The Fed's fault after all), but perhaps even more importantly, how does he feel about the $1.2 trillion of value he has erased from global capital markets since his election?
The drop in global debt and equity values in Q4 2016 is very reminiscent of the drop into 2015's Fed rate hike... which did not end well...
But, the last time that global stocks and global bonds decoupled so aggressively was following the end of QE3... here's what happened next...
But it's probably different this time, right? China is fine (oh wait, failed auctions and liquidity crisis), Europe is fine (oh wait, Italian banks are collapsing), and the US economy is great (oh wait, automakers are shuttering plants due to credit-created excess inventory).
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But Trump was not done there, he took on the arrogance of Obama, as we detailed earlier...
President Obama said that he thinks he would have won against me. He should say that but I say NO WAY! - jobs leaving, ISIS, OCare, etc.
— Donald J. Trump (@realDonaldTrump) December 26, 2016
Invincible politician and stock market savior...Let's just hope nothing goes wrong to break that narrative in the next 4 years (or 4 weeks).