July is running hotter than expected. The Fed is hell bent on tightening until everything implodes. Trump's team of Supply-Side retards are keeping the heat on the Fed from the Fiscal side. Human history's biggest bubble is set to explode:
Powell's first testimony to Congress was back in February, as shown below, this week was his second attempt to bullshit yields higher.
"Bear in mind, we can only continue this asinine level of borrowing for a couple of quarters. At most..."
Tuesday's casino bid was sponsored by volatility compression:
Banks are also not impressed by Fed b.s., now wrapping up a three wave retracement off of last week's weak earnings and this week's Fed meeting:
The oil bubble is now imploding:
So it will be interesting to see how this bubble gets unwound:
Netflix handed the world's greatest bubble baton to Amazon which bounced off the upper trend line:
Which means that the casino is operating on all one cylinder:
Casino weakness biased towards the latter part of each month is correlated with Fed quantitative tightening which is also biased towards the end of the month.
A bad time for a buyback blackout.
China is in full 2016 mode. Likely far worse...
"Confirmation that China’s economy is slowing amid an escalating trade war is a worrying omen for global growth"