Our cartoonist Bob Rich captures the tenor on Wall Street every weekday in Hedgeye's widely-acclaimed Cartoon of the Day. Below are his five latest cartoons. We hope you enjoy his humor and wit as filtered through Hedgeye's market insights. (Click here to receive our daily cartoon for free.)
1. LOST (6/10/2016)
What can we expect from the FOMC next week?
"Remember that projecting an air of confidence and maintaining maximum policy optionality requires carefully treading the hawkishly dovish messaging line … or maybe it’s the dovishly hawkish line," Hedgeye U.S. Macro analyst Christian Drake wrote in today's Early Look.
In other words, if you're hoping for clarity, don't hold your breath. There's more nonsensical Fed-speak to come.
2. Drinking The Kool-Aid? (6/9/2016)
Did you drink the central planning Kool-Aid?
3. Squirrelly (6/8/2016)
This one speaks for itself.
4. Sobriety Checkpoint Ahead (6/7/2016)
FYI: The Yellen Fed isn't "data dependent." It's S&P 500 dependent.
5. Yellen & Screamin' (6/6/2016)
The mercurial Fed has pivoted from Hawkish (in December) to Dovish (March/April) to Hawkish (May). With today's speech, market consensus now perceives Yellen & Co. as flipping back to Dovish here in June. Clearly, the Fed is perpetuating a massive amount of volatility in macro markets.