A Troubling Global Macro Check-Up With Hedgeye CEO Keith McCullough

Takeaway: No matter how they spin it, permabulls (around the world) are getting crushed.

A Troubling Global Macro Check-Up With Hedgeye CEO Keith McCullough - World Market No 12.16.14

 

Today's U.S. jobs report number was flat-out ugly. Anybody long the S&P 500, Dow, Nasdaq, or Russell 2000 knows that. (Click here to watch Hedgeye CEO Keith McCullough on Fox Business explaining "why the jobs market peaked last year" ahead of consensus.) There's been nowhere to hide for long-only equity investors. Outside these fifty states, stock markets from China to Germany have been falling precipitously

 

Here's a look at (crashing) markets around the globe:

 

no "amore" here...

 

Germany is crashing too...

 

 

Over in Asia...

The Nikkei looks awful despite the BOJ's best efforts to huff hot air into its flagging economy.

 

 

Chinese parlor games continue...

Shanghai Composite Casino investors rushing for the exit...

 

 

Amidst the volatility and turmoil, we're finding plenty of trades for investors to take advantage of:

 

Oil

It's been an excellent short on short-term pops...

 

 

that barbarous relic...

Long Gold was a good call throughout 2016 but it looks overbought here...

 

 

THE LONG BOND

Perhaps our best call has been remaining bullish on the Long Bond (TLT). The 10-year Treasury yield continues to fall despite the Fed's December rate hike on our U.S. #GrowthSlowing Macro theme.

 

 

Stick with the process. Consensus missed all this. We didn't.


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