Heavy news filled week this week. It’s month end and a new month beginning, we have a Fed meeting, and plenty ongoing news on tax cuts, but also activity on the political front.
As Credit Booms, Citi Says Synthetic CDOs May Reach $100 Billion
Banks are staying away from bitcoin ‘bubble’ due to money laundering, Credit Suisse CEO says
On the eve of the tax cut bill, few Americans actually want it
QT: As with health care there appears to be no popular mandate behind the policies proposed. Who is it for then? I think you know.
Who’s really going to pay for Trump’s big tax cut?
QT: The tax payer. The biggest concern I have is that all these assumptions are being floated with rosy growth pictures. You can always buy yourself growth. For a little while. But in the end it’s deficits. Big deficits. 2017 was $666B.
Carney Sees Slow Approach on Rates After First Hike in a Decade
BOE delivers a ‘typical dovish hike’ — analysts react to historic U.K. rate rise
QT: Carney did the bare minimum to not lose credibility, but the prime directive matters more than anything: Don’t upset markets. Mission successful: The GBP dropped and the $FTSE flew higher.
Tesla announces worst quarter ever, Model 3 delays
QT: I note there is a class of billionaires that run companies that never make a dime. $TSLA has burned through almost $10B in cash since 2010. What happens to the demand equation if the tax credit disappears?
That said $TSLA is at critical support here:
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