No Laughing Matter

Trump Didn't Politicize The Smithsonian; He's Responding To Those Who Did... Authored by Jody Edward Ginn via The Epoch Times, Museums have long occupied a rare and enviable position in American life: they have been trusted. While confidence in nearly every other major institution has cratered, museums have quietly held the line. The numbers tell the story. Fewer than one in five Americans express confidence in newspapers, television news, big business, or Congress, which bottoms out at 8 percent. Trust in the mass media sits at a record low of 31 percent. Museums, by...

UK Gilt Yields Tumble As BoE Scraps Bond Sales, Holds Rates (As Expected) The Bank of England decided to keep the bank rate unchanged at 3.75% on Thursday, as broadly expected, but shifted closer to further tightening. The decision was reached with a 6-3 vote, with Huw Pill, Megan Greene, and Catherine Mann voting to hike. Although the MPC still sees little evidence of second-round effects in wages and prices, it now judges those risks to have grown and the inflation outlook to be more clearly tilted to the upside. As UBS notes, several members...

The Bond-Salesman-In-Chief Has Fired The First Shot Of The Capital Market War That Follows The Trade War By Benjamin Picton, senior market strategist at Rabobank US equity markets approached record highs yesterday as traders basked in the afterglow of Donald Trump’s decision to (again) call off Iran strikes in favor of diplomatic efforts. The S&P500 closed almost 1.5% higher and the NASDAQ 100 was up by almost 1.8%. Sovereign yields pushed lower across Europe and North America with Treasuries likely encouraged by comments from Japanese Finance Minister Katayama yesterday that Japan...