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With few in the market knowing what to do in the aftermath of Brexit (aside for chasing quarter end widow dressing of course) at least according to Citi, one voice of confidence has emerged: that of Dennis Gartman. For those interested in the “world-renowned commodity expert’s” take, here is what the CNBC fast money staple […]

Following April’s exuberant 6 year high bounce (revised lower from +5.1% to +3.9%), May saw pending home sales plunge 3.7% – the biggest drop since May 2010. Sales declined in all 4 regions (with a 4.2% plunge in Midwest to January lows). This is the first annual drop in home sales in 2 years (-0.2%) […]Read More

Dow futures are now 500 points off the post-Brexit lows, having retraced half the losses…despite the worst home sales in 6 years. Just one small problem, Treasury yields are plumbing new post-Brexit lows… Dow bounce… S&P bounce… But bonds ain’t buying it… Trade accordingly.

It appears the powers that be just are not going to take it anymore. Having mistakenly allowed the people of Britain to exercise their free will, Foreign Policy’s James Traub exclaims, “It’s time for the elites to rise up against the ignorant masses.” The Brexit has laid bare the political schism of our time. It’s […]Read More

Following last night’s across the board inventrory drawdown from API, DOE data was more mixed with a surpsingly large build in gasoline stocks but bigger than expected Distillates and total crude inventory drawdowns. Production tumbled 0.63% MoM, the biggest drop in 2 months and back to Sept 2014 lows. Crude prices spiked above $49 for […]

Several days ago, we showed a schematic of what Citigroup thought the post-Brexit political timeline would look like. This was released before Brexit was official. Now that Brexit is official, JPM’s Malcolm Barr has come out with his base case forecast of “How Brexit Happens.” For those following the constant drama, there is little new […]

This graph does clearly show a big short squeeze, but this website has been saying “it’s just a short squeeze” all the time for a long time.  Valuations are still way up there in the clouds despite perpetual assurances of “just short-squeeziness” so I wonder if “just a short squeeze” is an example of, perhaps, […]Read More

Written by Nathan McDonald (CLICK FOR ORIGINAL) Brexit has happened. Those who are not happy with this reality are making their voices heard; yet, so too are those who are overjoyed to have their liberty and freedom back in their own hands.   This divide is glaringly obvious and has been the highlight of the […]

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Flashback 2006! If you fell into the bracket known as “middle to low income earners” and lived in the United States of America there is every likelihood that you will own not just a home but two or three. All you needed to do was to own one and then hope that the value of […]

Nine days after the Central Bank of Nigeria (CBN) abandoned its 16-month-old currency peg of the naira (NGN) to the dollar (USD), there is something not quite right with the new FX market. Foreign investors are not buying the story just yet (by bringing in their funds) and it seems like a case of the […]

Nigerian stocks closed trading on a positive note as the all share index rose 0.80%. Market capitalization at the close of trading was N10,239,227,509,403.27. Highlights of today’s trading session. NSE All Share Index was 29,812.91 up 0.80%. Market capitalization closed at N10.2 trillion compared to yesterday’s market capitalization of N10.15 trillion. Volume of shares traded was 305,813,327.00 units. […]Read More