Category

Week-in-Review (expressed in YoY terms): Mon: HK dollar nears decade low vs US dollar, iron ore prices +7%, Indonesia GDP +5.0%, South Africa to hold Zuma no-confidence vote, UBS “pilotless planes could save airlines $35bln,” UK home prices +2.1%, German industrial output -2.6 to +2.4%, Fed’s Bullard “even if unemployment rate continues to fall, the effect on inflation likely to be small,” VIX hits 50yr low, credit c

Week-in-Review (expressed in YoY terms): Mon: China services PMI -0.4 to 54.5, Japan IP -1.6 to +4.9%, iron ore prices 4mth high, EU CPI unch at +1.3%, EU unemployment 9.1% (2009 lows), US issues sanction on Venezuela’s Maduro after fraudulent vote (labels him dictator), S&P 500 rises for 4th month (dollar index worst first 7mths of year in 31yrs), pending home sales jump (1st time in 4mths), S&P -0.1%; Tue:

Week-in-Review (expressed in YoY terms): Mon: Abe denies cronyism (approval rating falls below 30), Japan manu PMI -0.2 to 52.2, IMF upgrades EU GDP +0.2 to +1.9% (lowers UK -0.3 to +1.7%), EU to retaliate against US if Russia sanctions target EU companies, Brazil considers unlocking highway infrastructure spending, S&P +0.1%; Tue: China’s Xi pledges “structural reforms and steady GDP,” Chinese fighter intercepts

“Every morning when I wake, I experience an exquisite joy — the joy of being Salvador Dalí — and I ask myself in rapture: What wonderful things is this Salvador Dalí going to accomplish today?” declared inspiration-incarnate, exhumed, his pencil mustache perfectly preserved, curled upward just so. An alleged love-child had demanded a DNA test. Spain acquiesced. “I always saw what others could not see,” ex

Overall: “Free expression is the base of human rights, the root of human nature and the mother of truth,” said Liu Xiaobo, R.I.P. “To kill free speech is to insult human rights, to stifle human nature and to suppress truth,” continued China’s Nobel laureate, caged. “I’ve viewed the West as if it were not only the salvation of China but also the natural and ultimate destination of all humanity.” America’s stock market

Overall: “Absolutely,” answered Trump, as sure as sure can be. You see, the reporter had asked if Mexico would pay. She couldn’t help herself, we’re fixated by walls. We need them; to build, to topple, to scale. They define us, give us purpose. Walls surround us, they’re everywhere, literally, metaphorically. “We are showing that the world doesn’t have to go 100 years back in time,” announced Tusk, symbolically isola

Week-in-Review (expressed in YoY terms): Mon: Italian E17bln bailout of 2 banks, EU iTraxx financials 51bps (below EU corporates at 53bps for 1st time since 2011), UK conservatives strike deal with DUP, UK consumer credit growth decelerates, German business confidence record high, US May durable goods orders drop 2nd month, Supreme Court rules to partially impose Trump’s travel ban, Senate healthcare bill to cut 22mm

Overall: “Two things are infinite: the universe and human stupidity,” said Einstein, “and I’m not sure about the universe.” He would know. After all, he was a genius. But of course, anyone who fled the Nazis in 1933 would have recognized our capacity for insanity. Germany’s devastating loss was America’s gain; the universe conspired, as it does, to place Albert and his inquiries in the place they were most welc

Overall: “It’s important to not overreact,” said Yellen, experiencing the second out of body experience of her 70yrs. Floating above the podium, Janet heard herself below, “Balance sheet reduction could start relatively soon.” My heavens she thought, what’s happening, what am I saying? Why am I saying it? But below her the press conference proceeded normally, naturally, unaffected by her presence. Wall Street Journal

Overall: “We’ve had austerity rammed down our throats, it’s brought about inequality, it’s brought about the type of society that nobody wants – a low pay, race to the bottom society,” announced Mcluskey, leader of Unite, Britain’s largest trade union. “Jeremy Corbyn came along and offered an alternative.” And the Brits ate it up. Particularly youngsters, our future. 63% of 18-34 year-olds voted Labour, 27% Con