The Epstein sex scandal gets increasingly curious every day. Who's on the hook?
Expectations of further monetary stimulus depress yields. There are now 14 junk bonds in Europe with a negative yield.
Labour leader Jeremy Corbyn now supports a People's Choice vote. Well, sort of, conditionally, provided he is not PM.
Kim Darroch, Britain’s ambassador to the US, called Trump "clumsy and inept". His leaked assessment started a feud.
Federal prosecutors allege former asset manager ran an operation that allowed him to sexually exploit dozens of girls.
The New York Fed has the odds of a recession within the next year at 33%. Some of the other models are humorous.
Consumer credit hit another all-time high today of nearly $4.1 trillion.
The tactics of the Remainer crown in the UK are downright laughable.
US Steel wanted Trump to put tariffs on Chinese steel imports. The company is not at all pleased with the results.
Deutsche Bank plans to shrink itself into competitiveness by slashing 18,000 Jobs. It's do or die for the bank.
Car dealers are flush with SUVs just as the economy is slowing.
Tesco, one of the world’s largest supermarket operators, is testing cashierless stores solely dependent cameras.
The current GDPNow and Nowcast GDP estimates are 1.3% and 1.5% respectively.
The 737 Max may now be grounded for as much as a year. A new report assesses the corner cutting mistakes.
The strongest earthquake in 20 years hit southern California on Friday night.
Despite today's jobs report, Implied July rate cuts odds are still 100% but a second cut is now priced out.
Theresa May's binary choice strategy, her deal or Remain, failed spectacularly. There's a new binary choice option now.
Jobs growth beat expectations of 165,000 but wage growth underperformed, rising 0.2% vs an expected 0.3%.
The ECB and EU elected to ignore Italy's debt and soon to be a monstrous deficit. Bond yields plunged.
Don't eat the fireworks but do have a parade. Then reflect on what we are celebrating.
Germany is revolting against Merkel's compromise candidate, Ursula von der Leyen, to head the European Commission.
Factory new orders are down year-over-year and barely afloat excluding transportation. Inventories are a concern.
The US trade deficit widened to $55.5 billion from a negatively revised $51.2 billion. The consensus was $53.5 billion.
In the race to zero and below, the Fed is way behind. Judy Shelton hopes to get there in one or two years.
Christine Lagarde, the head of the IMF, will become the head of the ECB. Already, she has made a fool out of herself.
Spitzenkandidat, the idea that the EU candidate with the most vote wins, just died.
Hooray! Numerous headlines on Monday proclaimed the US is set for the longest expansion in history. How do they know?
The moment Trump caved in on China tariffs, threats against the EU were a given.
Johnson and Hunt keep repeating the things necessary for No Deal or a Good Deal. A "Bidding War" is underway.
Economists expected construction spending would rise 0.1%. Instead, spending fell 0.8%, including revisions, down 0.4%.
The BIS annual report fired off a plethora of warnings to central bankers yet missed the best warning of all: bubbles.
Trump became the first sitting president to step into North Korea. Kim Jon Un accepted a last-minute invite from Trump.
Boeings problems continue to mount. The FAA discovered more problems and a DOJ probe expands beyond the Max.
Amazon is out to make housing affordable. It will eventually succeed.
Trade with China talks are "back on track". But what track is that?
Campaign "silly season" is officially underway. Here's a look at four hilarious videos.
Xi will meet Trump at the G20, but if Trump wants a deal, China has preconditions including a ban lift on Huawei.
I confess. I missed Zoo part I. But if it was as humorous as part II, I missed a lot of laughs.
Project Veritas released video that purportedly prove Google hopes to rig the 2020 election for Democrats.
Shades of Trumpian silliness: MP Dominic Grieve backs a motion to cut off Government funding in the event of no-deal.
The final (until revised later) estimate of first-quarter GDP matched economists expectation. How was surprising.
In a global comparison of 10-year government bonds, three countries have negative-yields and France is on the cusp.
Everyone knows what everyone else "says" they will do. But what will they really do, if pushed?
CNBC quotes Treasury Secretary Mnuchin as saying we are 90% there towards a trade deal with China. Uh, let's clarify.
Trump will not exactly be pleased as the trade deficit in goods is headed the wrong way for his liking.
Using the Fed Funds Rate as the baseline overnight duration, the yield curve is inverted for nearly 25 years.
With Brexit emotions running high, let's step back and calmly discuss the pertinent facts.
In a speech today, Fed Chair Jerome Powell took a swipe at Trump, then patted himself and the Fed on the back.
There is little to like in today's residential sales report. New home sales dove 7.8% overall and prices also fell 8.1%.
The Green Party is on the rise in Europe. Ramifications are immense, starting with the deindustrialization of Germany.
Boris Johnson's spat with his partner has already blown over. What are Remainers' last chances to stop Brexit?
The latest INSA poll shows support for SPD and CDU has collapsed. AfD tops SPD and the Greens now top CDU. SPD is toast.
China's currency reserves ought to be increasing given its persistent trade surplus. They aren't due to capital flight.
Trump told NBC's Meet the Press that he would rather run against "sleepy" Joe Biden than Hillary or anybody else.
An alleged "Hatchet Job" by the NYT stirred up a hornet's nest reaction from Tesla and EV lovers. Let's reexamine.
Boris Johnson had a huge squabble with his partner. A neighbor called the police. Details scant, Johnson ducks questions
A trip from LA to Las Vegas and back takes 8 hours by a gas-powered car but 13 hours by an electric vehicle.
Trump inflicted much pain on China and vice versa. This is always the case in trade wars. Sideline beneficiaries abound.
The economic outlook based on freight shipments is growing dim.Global expansion has peaked.
Ten minutes before a strike Trump called off an air attack on Iran citing concerns over the number of deaths.
Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M.
Gold blasted $48 higher today and the 10-year Treasury yield briefly fell below 2.0% with Mideast tensions rising.
Boris Johnson will face Jeremy Hunt in a Tory party vote that will determine the UK's next Prime Minister.
Is the US headed for a serious Mideast escalation and military attack on Iran? "We'll soon find out."
The leadership race will narrow to two candidates tomorrow: Johnson vs Gove or Hunt. It won't matter. Johnson will win.
The dot plot of future expectations has split into two camps: Those who expect the status quo and those who see cuts.
Economists are discussing the merits or lack thereof of Italy's proposed Mini-BOT currency.
Republican and Democrat lawmakers demand hearings and a moratorium on Facebook's "Libra" cryptocurrency proposal.
Want to know what's holding back housing and family formation? Look no further than student loans.
A You-Gov Poll shows some shocking preferences. In the non-news of the day, the Tory leadership challenge is down to 5.
President Trump pointed the finger at ECB president Mario Draghi in a Tweetstorm blast.
Housing starts fell but from an upward revision. The main story is a collapse in single-family units.
A crisis is brewing in the Eurozone and it's not even on mainstream media radar. Italy is at the center of the crisis.
Elizabeth Warren and Donald Trump are wrong together on at least one thing: Both want the dollar to collapse.
Deutsche Bank, with a market cap of under $14 billion looks to spin off $50+ billion in allegedly productive assets.
There is no question Johnson will deliver Brexit. The only question is "How?"
Protests began a week ago when the Hong Kong government passed a bill authorizing extraditions to mainland China.
A few avid Trump supporters asked me yesterday why I was silent on Trump's big success with Mexico. Let's investigate.
After a year of talks on U.S. barriers to Indian steel and aluminum, India retaliates against Trump.
In a "Keep Ameria Great" Tweet, Trump Foresees an Epic Crash if he's not reelected.
The US military is itching for a war with Iran. An excuse is found. But the incident, as blamed, makes no sense.
Matt Hancock dropped out today but refused to endorse anyone. Unless he does, both Javid and Stewart will drop next.
The May retail sales number missed expectations slightly but the Census Bureau upgraded April from -0.2% to +0.3%.
Trump has succeeded in one thing: Pushing Democrats so far to the Left they look like economic fools in comparison.
Boris Johnson secures enough votes in the first round of the Tory leadership process to guarantee he is a finalist.
Import and export prices continue to decline. Agriculture leads the way on export prices, energy on import prices.
UK Labour party Shadow Chancellor, John McDonnell, wants to slash the work week and pay by 75% to save the planet.
Trump says he will protect Germany from Russia. There is only one problem: Germany does not want or need Trump's help.
AOC discusses the meaning of a raise. Let's tune in.
Thanks to 8 courageous Labour MPs who want to deliver Brexit, Corbyn's attempt to block a No Deal Brexit Fails.
The CPI rose 0.1% month-over-month. Econoday was disappointed. But it did find "bright spots" in food and air travel.
In another absurd Tweet, Trump lashes out at the Fed and a US dollar that supposedly buys too much
Round and round we go. After more than two years the UK and EU are still debating Brexit breakup fees.
Italy threatens to create a parallel currency dubbed the Mini-BOT. If launched, it could lead to a Eurozone breakup.
In the face of increasing odds of a hard Brexit, solutions that Barnier told Theresa May cannot work, now magically do.
Deficits have only been at this level in or shortly after a recession. Unfortunately, this is the new normal.
The 1922 Committee has certified 10 Tory candidates to battle to replace Theresa May. Boris Johnson solidified his lead.
Trump complains the Fed isn't listening to him. A chicken and egg question surfaces.
Does China (Trump) want to fight a trade war or a currency war?
Democrats are falling all over themselves trying to hand the 2020 election to Trump. Amusing or Pathetic?
A reader asked me if I was surprised by Trump's deal with Mexico. Of course, I wasn't.
The Brexit party was supposed to win the Peterborough by-election. Instead, Labour won. But that's the wrong takeaway.
Let's take a look at how China sees the escalation of the trade war as described by the Xinhua News Agency in Beijing.
Theresa May officially stepped down as Tory party leader today. She remains as caretaker Prime Minister.
The BLS revised away 75,000 jobs in April and May. The discrepancy between jobs and employment is still massive.
Jobs missed expectations by a mile but were well above the ADP forecast of +27,000. Revisions took the gain away.
Delusional Remainers believe Tories will rally around Gove, Hunt, or Javid. Forget about it.
A few weeks ago I created a video anticipating the moment Powell would embrace rate-cutting bubbles as standard policy.
FedEx just announced deliveries 7 days a week. Amazon shoots for 30-minute drone deliveries.
The overall picture is one of weakening trade. Year-over-year, the trade deficit is up 2.0%. Trump won't be pleased.
Fitch downgraded Mexico to BBB, one step above junk. In related news regarding Mexico, let's investigate Trump lies.
The bookmakers give Boris a 1 in 3 shot of becoming the next PM. Focus on reality, not bookie odds.
ADP estimates the economy added only 27,000 jobs in May. The consensus estimate by the BLS, for Friday, is 180,000.
Italy faces an "Excessive Deficit" ruling, the first in EU history. Italy's response is a parallel currency proposal.
Powell gave a speech today showing his resolve to support the markets. He suggested retiring the word "unconventional".
The factory sector weakened in April following a strong but negatively revised March. Core capital goods orders fell 1%.
Supposedly we are close to a deal then we aren't. And not just with China. President Trump, please make up your mind.
Gold put in a strong performance today with the St. Louis Fed president presenting a case for cutting rates.
St Louis Fed President James Bullard is yapping mightily today about the need for rate cuts.
Add India to the list of countries the US is n a trade war with. For now, Australia barely avoided Trump's wrath.
Wing components in over 300 737s may be defective. The defect is not limited to 737 max aircraft.
A headline in the Wall Street Journal caught my eye today. It claims China is willing to talk with Trump.
Brexit chief negotiator, Michel Barnier, is boxing with the wind, landing no punches with wild blasts at the UK.
In case you have not figured this out, Trump cannot be relied on to honor any agreement he makes.
Yield curve in inversions in Canada widened in response to Trump's impositions of Tariffs on Mexico.
Disposable personal income rose 0.4%, but real income rose only 0.1%. Real personal consumption expenditures were flat.
Hello one-handle: In response to Trump's misguided Tariff tactics on Mexico, bond yields continue to crash.
Trump Says "STOP". Will Mexico listen? Can Mexico Listen?
German bonds are inverted in 19 places despite the fact that the German bonds have a negative yield for 13 years.
Trump visits the UK next week. Regarding a potential meeting, Trump said “Nigel Farage is a friend. Boris is a friend."
Those who claim that Trump has already won or is sure to win the trade war need to ponder actual trade results.
In December, Powell said the Fed was on "autopilot". Let's compare those dot plots with current Fed Fund Futures.
The Treasury has three requirements for identifying currency manipulators. Seven countries meet two criteria.
Boris Johnson has been summoned over lies he allegedly made during the Brexit Referendum campaign.
The strength of inversions widened today. That's a strong recession warning, but it is not the actual recession signal.
Global consent on the 737 Max was difficult in the first place. Trump's belligerent trade policies make matters worse.
A no-deal Brexit is an odds-on favorite. Despite threats of rebellion by some Tories, a determined PM can't be stopped.
Treasury yields have plunged at the mid to long end of the yield curve producing biggest recession warning yet.
Trump isn't worried about North Korea belligerently firing off missiles. He now thinks a deal with Iran is possible.
It was not a good night for centrists in the UK, France, Italy, or the EU in general.