Charles Hugh Smith's picture

As with many other complexities, opaque systems in the US, only those toiling in the murky depths of the healthcare system know just how broken the entire system is. Only those dealing daily with the perverse incentives...

Jeffrey D Saut's picture

“Pull” is a term used in shooting sporting clays, which are supposed to represent real birds and sharpen the shooter’s ability to actually hunt live birds. The term is yelled by the shooter to tell the person operating the trap to launch...

Clif Droke's picture

The first legislative setback of the Trump Administration is being celebrated by many, but not by middle-class taxpayers and business owners. A Republican-led Congress last week failed to generate the consensus required to overturn...

Urban Carmel's picture

A tailwind for the rally over the past year has been the bearish positioning of investors, with fund managers persistently shunning equities in exchange for holding cash. Sentiment has turned bullish. Optimism towards the economy has...

Michael Shedlock's picture

In 2016, non-euro investors dumped euro-denominated bonds for the first time in history. Moreover, euro-area investors barely made purchases according to the ECB’s analysis of euro area net portfolio investment outflows.

Urban Carmel's picture

Households have 30% of their financial assets in equities, the same proportion as they held at bull market peaks in the 1960s and in 2007. Does this mean another bear market is imminent? No. Two of the last three times the purportedly...

Jeffrey D Saut's picture

I spent last week climbing the mountains of Idaho and Utah, seeing accounts and doing presentations for our financial advisors and their clients. In my absence, the stock market did some climbing of its own as the S&P 500 (SPX/2378.25) came...

Kurt Kallaus's picture

The economic surprise index was already trending higher in the US and around the globe last Fall and Trump’s timing was impeccable as current and expected business activity surged since his election. The Citi Economic Surprise Index falls when real activity is worse than expected...

Adrian Ash's picture

Gold prices rose further Thursday in London, gaining almost 3% in Dollar terms since the Federal Reserve raised US interest rates as expected yesterday, and also raised its forecast for interest-rate hikes ahead.

Clif Droke's picture

The stock market has once again entered a period of consolidation as investors wait for the results of the most important legislative decision of the year. The fight to repeal and replace Obamacare has taken the spotlight as Congress debates...

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