Michael Shedlock's picture

It’s quiz time. I will list a statement. You decide who said it. The correct answer is either Bernie Sanders, Donald Trump, or Hillary Clinton.

Matthew Kerkhoff's picture

We’re going to talk about bonds today but before we get to that, I want to briefly point out why the Brexit event is impacting US markets so heavily. As we’ve discussed many times here at DTL, the strength of the US dollar dictates...

Clif Droke's picture

Everywhere one turns there is evidence of widespread rage and frustration. The peoples of Europe and the Americas in particular are aggrieved at their political lot and are becoming increasingly angry. What was once a simmering...

Charles Hugh Smith's picture

This process of withdrawal into the relative safety of internally cohesive groups and group identities is intrinsically messy in globalized, multicultural societies. A great many narratives are drifting around the Brexit pool: a return to sovereignty...

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...

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