Donald Trump Pulls the Trigger

Can You Price In No Longer Pricing Things In? By Michael Every of Rabobank At this point it isn’t a random walk but a determined march: markets have decided the Iran war and the Hormuz blockades are over, and everything is going to be better than normal imminently: the Nasdaq and S&P are at all-time highs and even worries over private credit are receding. In the real world, there are signs that back that stance and ones that say otherwise. Iran warned it could sink US ships in Hormuz if they police...

Florida & Texas Lead Jobless Claims Rebound From Near Record Lows The number of Americans filing for unemployment benefits for the first time rose last week to 211k (more than the 205k expected), but remain well within the range of the last five years, near record lows... Source: Bloomberg Florida and Texas saw the biggest rise in initial claims while California and Michigan saw the largest declines... Continuing jobless claims also rose modestly last week, up to 1.782mm Americans (but still well below the 1.9mm Maginot Line)... Source: Bloomberg Combined with last week's positive payrolls...