Tuesday, April 18, 2017

The Trumpflation Hoax Is Over

Don't get me wrong, Trumpflation was very profitable - to those who sold into it. However, now the rest of the world wants its money back...

Denialists far and wide will be happy to know that the Trumpflation hoax has been disproven by none other than Wall Street - the very same people who propagated the hoax in the first place. Go figure. This hoax, believed by desperate morons everywhere, has now been put to rest.

Bond yields
Dollar/USDJPY Carry


Here is a chart of Tech stocks:

The few people on Wall Street not already short Goldman are shocked, I tell you...

As Johnson & Johnson goes, so goes the market, as history shows:


The real story is the dollar which ironically is getting shellacked because theoretical growth prospects for the rest of the world are now better than the U.S.:

So now the money has to go home...

Growth is slower in the U.S. of course compliments of the Scylla and Charybdis of dumb and dumber:

Although I give the IMF's latest growth forecast the shelf life of a rotten banana, since the deflationary impulse from China is accelerating...

ZH: We Are Losing The (Im)Pulse

The “real” macro story in my eyes overnight is the ongoing commodities fade originating out of China.  Iron Ore continued its outright collapse (Qingdao 62% Iron Ore is -17.6% MTD and -30.2% from late February highs), while Aluminum, Copper, Zinc, Lead, Rubber, Gold, Silver, Rebar, Brent / WTI Crude, Gasoline and Nat Gas are all markedly lower. 

Chinese stocks: