trading recap

Rain fell. Hard, heavy, winter rain. Sweeping the grime from her broad avenues. Washing it all away, but for the most stubborn filth; money-changers. Who littered the streets, beneath wide red umbrellas, that sprouted like mushrooms, selling black-market dollars for pesos. At exchange rates that rose inexorably, inversely to the strength of her grasp. And unable to wash those ubiquitous scarlet stains from her capita

Week-in-Review: Mon: China trade +7.0% (+6.6 exp), Japan Q1 GDP +6.7% qoq (Q2 exp -4.0%), Japan Apr C/A surplus Y187bln (3rd mthly surplus), S&P +0.1%; Tue: China May PPI -1.4% yoy (CPI +2.5%), CNY fixes 3mth high, Aussie biz confidence rises, Italy Apr IP +1.6% yoy, US Apr wholesale inventories +1.3% (+7.8% yoy), Cantor loses Republican primary, S&P flat; Wed: World Bank cuts 2014 global GDP to 2.8% vs 3.2%

Mario mounted the mantel. Perched precipitously. And stared into the mirror. “Would you tell me please, which way I ought to go?” he asked his curious reflection. “That depends a good deal on where you want to go,” replied Cheshire cat, from within the Looking-Glass. “I don’t much care, so long as I get somewhere,” said Draghi, rather surprised. And Cheshire grinned slyly, luring the world’s first major central banke

“The focus should be on minimum government but maximum governance,” announced Narenda Modi, a fierce Hindu Nationalist, born the low-caste son of a tea stall owner. India’s 15th Prime Minister presides over the 1st parliamentary majority in 25yrs, paving the way for red-tape reform. Of course, India is the great hope for a planet starved of growth. For the next decade, 1mm Indians will join the workforce each and eve

“We are alert to any dangers and problems,” announced David Cameron, having created the dangers and problems. You see, he invented the “Help-to-Buy” program, aka “Blow Me.” Allowing UK homebuyers 5% down payments, while he guarantees the balance. Naturally, consumers and banks, sensing a one way bet, blew a bodacious bubble. Which was the point. And as UK business investment hit 2008 highs (+8.7% yoy), Carney warned

“France is starting to undermine trust in itself as a reliable supplier,” tweeted Russia’s Deputy Prime Minister Rogozin. And enterprising American entrepreneurs raced to trademark his name for the world’s greatest blockbuster; a combined hair loss, depression and dysfunction drug. “Probably our colleague is not aware of the number of jobs created in France thanks to our partnership,” continued the Russian plutocrat,

The city’s inhabitants flooded into the streets. To celebrate Sarajevo’s City Hall reopening. It had been 22 lost years since the iconic building was hit by mortars, engulfed by the inferno. And the EU had finally rebuilt it. Like so many icons, its history had neither ended nor begun on that 1992 morning. After all, Archduke Franz Ferdinand stepped through its front door in 1914, and was promptly plugged. Pop! Usher

He cracked another cold Bud. Shot-gunned it. Burped. And picked up USA Today. Smearing frackin’ shale grime on its colorful pages. Scanned some boring headlines. China’s gonna be richer than America someday soon, but nearly everyone in China’s still gonna be desperately poor. “Damn Chinese,” he muttered, shaking his head. Thirty of thirty-one Chinese provinces missed growth targets, but national GDP is on track. “Bur

“We don’t have a magic wand,” bellowed Vitor Constancio, with a theatrical twirl of his cape. “Otherwise all countries would be rich, because monetary policy would cure everything,” continued the ECB’s Portuguese Vice President, vanishing in a puff of smoke. And denied QE’s intoxicating illusion, the crowd of spoiled, drunken traders erupted. Throwing beer bottles, tipping tables. The nervous emcee grabbed a micropho