Ben Hunt PhD's picture

Brexit is a Bear Stearns moment, not a Lehman moment. That's not to diminish what's happening (markets felt like a death in March 2008), but this isn't the event to make you run for the hills. Why not? Because it doesn't directly crater...

Andrew Zatlin's picture

Mr. Market (S&P 500) keeps hitting 2,100, only to pull back. That level is a psychological magnet, drawing investors closer. Failure to hold and advance above it means a top. You need to be concerned that the market hasn’t moved up...

Michael Shedlock's picture

Target2 imbalances in the eurozone continue to mount. The ECB itself now has the third largest negative balance following Italy and Spain. Target2 is a measure of capital flight. Those needing a further explanation of Target2 may...

Marc Chandler's picture

The assassination of Jo Cox has broken the powerful momentum in the markets. Investors recognize that the tragedy potentially injects a new element into consideration for the outcome of next week's referendum. The campaigns will...

Charles Hugh Smith's picture

My contacts in Venezuela tell me that merely posting the black market exchange rate of bolivars to USD can get you arrested. So yes, Venezuela's regime has gone full Orwell-1984: whatever is true is outlawed.

Andrew Zatlin's picture

Foreboding macroeconomic signals keep on popping up, and it would be wise to pay attention. In case you can’t tell, this is exactly like late 2006 with key (worse) differences: The macroeconomy has peaked: Jobless claims are barely below...

Jeffrey D Saut's picture

The year was 1964 when Reprise Records released the song “Baby Don’t Go.” Written by Sonny Bono, and recorded by Sonny & Cher (Cherilyn “Cher” Sarkisian), the song became a smash hit and set the duo’s career in motion.

Matthew Kerkhoff's picture

During times of uncertainty, such as the prelude to the Brexit vote, investors tend to gravitate toward the Japanese yen. This causes the yen to appreciate and has led to the common perception of the yen as a safe-haven currency.

Michael Shedlock's picture

A Bloomberg New Energy Finance (BNEF) report plots out global power markets for the next 25 years. If accurate, solar energy will soon dominate, and electric cars will go mainstream. The forecast states coal and gas are...

Kurt Kallaus's picture

Millennials are not lazy, but actually represent a very innovative and connected cloud-oriented phase of our new world order. According to the data they are needed in our thinly skilled labor pool, but more and more they have...

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