Trump's Big Night ... Hillary's Homestretch ... Harry Reid's Final Prophecy

Below is a brief excerpt from Hedgeye Potomac Chief Political Strategist JT Taylor's Morning Bullets sent to institutional clients each morning. For more information on how you can access our institutional research please email


Trump's Big Night ... Hillary's Homestretch ... Harry Reid's Final Prophecy - trump flag


Polls show that Trump is heading for a big win in IN, as he moves closer to being the presumptive Republican nominee. Ted Cruz hopes that the alignment of Republican stars - including the tepid support of IN Governor Mike Pence - will help him pull off a victory that breaks Trump's streak.


John Kasich has already abandoned IN, but still looks likely to receive a sizable number of votes - especially those from anti-Trump voters who are critically needed by Cruz to put him over the top. If Trump wins big tonight, he will only need ~50% of the remaining delegates to clinch the nomination - and momentum already has propelled him to a 30+ point lead in CA.


Trump's Big Night ... Hillary's Homestretch ... Harry Reid's Final Prophecy - cruz cruz


It's not just losing primaries that has Cruz's campaign concerned - his strategy of winning the nomination on the second ballot may also be crumbling. To date, Cruz has been very successful at nabbing delegate spots for his supporters in behind-the-scenes maneuvering at state conventions, but the loyalty of these supporters once they become unpledged is increasingly being questioned.


Combined with his underperformance in PA, and a loss in IN - a delegate desertion would sound the death knell for Cruz's campaign even before Trump potentially hits 1237.


Trump's Big Night ... Hillary's Homestretch ... Harry Reid's Final Prophecy - hillary clinton 222


For the first time in months, Hillary Clinton's campaign out-fundraised Bernie Sanders $36 million to $26 million. Sanders soldiers on and vows that there will be a contested convention, but if he loses in IN today he will be hanging by a thread, and will continue to be the thorn in Clinton's side.


If he can pull off a win, it will change the narrative back in his favor, especially going into KY, NE, and WV - all states that are more favorable terrain to him - but he would have to take 65 percent of the remaining delegates to clinch the nomination. A Clinton victory allows her to keep her focus on Donald Trump and the big picture, but it may come down to the bottom of the ninth tonight...


With retirement on the horizon, Minority Leader Harry Reid has expressed certainty that Democrats will retake the Senate this fall, and is confidently passing the leadership reigns over to Sen. Chuck Schumer. Despite Schumer's almost certain re-election in deep blue NY, he has gone all out on fundraising, and currently has $26 million on-hand.


This war chest should serve as a potent weapon for Schumer, who can funnel millions of dollars to candidates and committees - and help ensure Reid's prophecy comes true.

Did the US Economy Just “Collapse”? "Worst Personal Spending Since 2009"?

This is a brief note written by Hedgeye U.S. Macro analyst Christian Drake on 4/28 dispelling media reporting that “US GDP collapses to 0.7%, the lowest number in three years with the worst personal spending since 2009.”

read more

7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

read more

Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

read more

GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

read more

Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

read more

Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

read more

Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

read more

People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

read more

UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

read more

Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

read more

Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

read more

An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

read more