It is the 19th of July 2019

News

Trump Wins: Judge Denies Obama Holdover's Suit Against Mulvaney Running CFPB

In a somewhat unsurprising decision, President Trump won a legal fight over who gets to run the Consumer Financial Protection Bureau (at least for now).

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JPMorgan's Outlook For 2018: "Eat, Drink And Be Merry, For In 2019..."

While the prevailing outlook by the big banks for 2018 and onward has been predominantly optimsitic and in a few euphoric cases, "rationally exuberant", with most banks forecasting year-end S&P price targets around 2800 or higher, and a P/E of roughly 20x as follows...

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Fed Chair Nominee Powell's Prepared Remarks: "Will Respond With Force To Threats To Nation's Stability"

Jerome Powell, President Trump’s nominee to head the Fed, has released the text of remarks he’ll deliver Tuesday in a confirmation hearing before the Senate Banking Committee.

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$1 Trillion Norway Wealth Fund Sees "Red Flag" In Real Estate Market

Back in September, we pointed out that assets managed by Norway's sovereign wealth fund had surged to over $1 trillion after they made the controversial decision to increase their exposure to global equity bubbles (see: Norway Wealth Fund Assets Surge To Over $1 Trillion On Massive 70% Allocation To Equities).  The move has worked out perfectly in the short term, though we still have our doubts as to whether the "greater fool" theory works over the long term...certainly it never has before but maybe this time is different.

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Democrats Denounce Steyer's Impeachment Push: "It's Not Helpful"

California financier Tom Steyer’s $20 million ad campaign to impeach President Donald Trump has alienated some of the Democratic leaders with the influence to make impeachment a reality.

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