Hackles
market vibes
January 10… )
"We are not makers of history. We are made by history." Martin Luther King Jr
Data on tap this morning
In the news
Rumors of arson, the rape scandal that won’t go away, the Bush Dis and Melania’s weaponization of fashion offer a well ordered menu of chaos this morning.
The LA details are stunning; a Harvard LGBTQ Fire Cheif earning 450 large and a Maui redux of narratives at scale. As I write, an area greater than two Manhattan Islands, fifty square miles, has been scorched to ashes and the Palisades Fire and the Eaton Fire, among others, continue to burn with zero percent containment. I grew up in Pasadena for thirteen years, every winter.
Speaking of fire, inflation data and relentless supply vexes the bond markets here and abroad. The BOJ is touting the price of rice in prep to hike rates as China slides into depression and a Bernanke QE and ZIRP. According to the BLS yesterday, JOLTs are hot but the St Louis Fed begs to differ.
Global warming is alive. The Earth’s warming exceeded 1.5C on an annual basis for the first time, ever. And…Al Gore’s melting Greenland is in play. Who woulda thunk it?
In the markets
The Yen is so oversold, technical indicators are unreadable. USD FX is a one-eyed beach ball in the land of the blind. Oil is flying, but gasoline is not flying. And the BCOM is in a 10, 9, 8 countdown…
Next up, a slew of charts, so let’s get going.
