Markets Roiled As Trump Imposes ‘Shock Tariff’ of 5% Up To 25% On All Mexican Goods Over Immigration

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by Jesse Via tweet Trump tanked the markets by imposing a ‘shock tariff’ on all Mexico goods of 5%, increasing to 25% until Mexico does something to halt illegal immigration from their country. Someone is taking the imperial presidency out for a test drive. The China Manufacturing PMI came out tonight with a miss of estimates at … Read more

How Different Generations Approach Work

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by visualcapitalist View the full-size version of the infographic The first representatives of Generation Z have started to trickle into the workplace – and like generations before them, they are bringing a different perspective to things. Did you know that there are now up to five generations now working under any given roof, ranging all the way from the … Read more

Brits – Gold More Likely To Save You Than Atlas

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by Egon von Greyerz Will Atlas save the world? Global debt of $250 trillion can neither be serviced nor ever repaid. More likely, it will continue to grow exponentially until the world financial system collapses under the weight of the debt plus unfunded pension and medical liabilities of at least $250 trillion plus derivatives of … Read more

OK, I Get it, Markets Have Gone Nuts: Junk-Bonds are in Party Mood, Treasuries Clamor for Doom & Rate Cuts

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter One of them is wrong. Watch out for it to snap in an ugly manner. When the economy goes into a downturn, even a plain-vanilla recession or near-recession and not a crisis, junk bonds behave badly. This is because over-indebted companies with iffy cash flows – those are the ones that … Read more

Mapped: Who Owns the World’s Gold Reserves

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by howmuch In 2010, the world’s central banks stopped selling gold and started accumulating it. As gold provides a hedge against economic uncertainty and currency manipulation, the action of these central banks gives us insight as to which countries are most capable of handling an economic storm. Here’s what you’ll learn in this article: Data from Gold.org – courtesy … Read more

US ETFs See $7 Billion in Outflows This Month

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via CNBC: Call it an ETF exodus. U.S.-based exchange-traded funds have seen $7 billion leave their portfolios in May alone as the major averages stay on track for the first negative month of 2019. But while the action might make it seem like investors are losing faith in the perpetually growing ETF market, experts say it’s more … Read more

Credit Market `Probably the Riskiest Ever,’ Pimco’s Mather Says

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via Bloomberg: Credit market risk is at an all-time high, according to Scott Mather, chief investment officer of U.S. core strategies at Pacific Investment Management Co. The investment firm is defensive on the asset class as it sees high likelihood of a recession over the next three-to-five years. “We have probably the riskiest credit market that we … Read more

Oklahoma prosecutors blast J&J in first day of landmark opioid trial. State says drugmaker ran ‘deceitful, multibillion-dollar brainwashing campaign’

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via cnbc: So this will probably stir up political commenters from r/politics and lead to a locked thread, but I’m interested in long term J&J holders thoughts. It seems like J&J rolled the dice by playing hardball and not settling like the other two drug makers named in the suit did. Increasingly, it seems like J&J has taken … Read more

The Fed Has Seemingly Lost Control of Its 10-Year Treasury Note

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via confoundedinterest: The Federal Reserve has seemingly lost control of its 10-year Treasury Note. Rather than follow The Fed’s quantitative easing/ tightening, the 10-year Treasury Note yield is following trade patterns. And speaking of losing control, a Japanese lender is planning to issue a 0.99% JUNK BOND. (Bloomberg) — Japan’s negative interest rates have upended many conventions … Read more

Risk-Markets Take a Beating in May

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via jugglingdynamite: Risk assets have taken a fresh thumping in May.  As of last night, the S&P 500 index was down 5.5% on the month, with energy (-9.2%), technology (-8%), materials (-7.4%), industrials (-7.1%) and financials (-5.6%) faring worst, and so-called ‘defensives’: real estate (-.05%), utilities (-1.6%), health sick care (-2.3%) and consumer staples (-2.9%) faring less bad, as … Read more

Mises: Digital Cash, Another Dangerous New Idea in Monetary Policy

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via mises: While modern monetary theory has provided some distraction for public and commentators alike, the war on cash goes on. In the latest issue of the Cato Journal, the distinguished economic historian Michael Bordo and his co-author Andrew Levin lament the failure of the experiments in unconventional monetary policies of the last decade to stimulate aggregate demand. While … Read more