It is the 16th of July 2019

News

Rates Aren't The Only Thing Going Up

The forty-year down-trend - of shorter and shorter Fed Chairs - just broke aggressively higher...

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As Under Armour Collapses, CEO Builds Elitist Hotel & Whiskey Distillery

Earlier, we reported on Under Armour’s epic stock collapse down over -75% from its September 2015 highs. This is one stock Central Bankers forgot to buy. Today’s stock crash -15% is being felt across Baltimore once again, city streets are eerily calm, as the latest round of millennials who ‘bought the dip’ called in sick this morning. Something tells us, the avocado and toast breakfast will be sadly missed by many….

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There Are No Cheap Stocks Anymore... Literally

The S&P is substantially overvalued on 18 of 20 valuation metrics, with the only exceptions being free cash flow (helped again by depressed capex), and relative to small caps/bonds - the Fed's favorite indicator -  where yields remain depressed thanks to the Fed's failure to stimulate wage inflation for nearly 9 years.

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Federal Reserve Hesitates on QE Unwind / Balance Sheet Reduction

 The following article by David Haggith was published on The Great Recession Blog:

Federal Reserve balance sheet reduction not happening yet even as the Fed applauds its own success

Is the Federal Reserve’s Great Unwind already coming unwound? I thought it would be good to check up on Federal Reserve balance sheet reduction since the Fed is supposed to be up and running on the move out of quantitative easing this month. It should be fascinating to see what progress the Fed is making as it happily applauds its own successful recovery. 

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Mnuchin Says White House Is "Focused On Finding A Successor To Yellen"

President Donald Trump is a showman whose love for spectacle has transformed even mundane personnel decisions into elaborate pageants - as the New York Times pointed out last night.

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