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This Week In Hedgeye Cartoons

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.)

 

Enjoy!

 

1. Bear Grillz (6/17/2016)

This Week In Hedgeye Cartoons - gold cartoon 06.17.2016

  

For investors bearish on U.S. economic growth, like us, Gold is having an amazing run this year. Year-to-date, Gold (GLD) is up 21.7% versus up just 1.4% for the S&P 500.

 

2. Brexit (6/16/2016)

This Week In Hedgeye Cartoons - Brexit cartoon 06.16.2016

 

A few catalysts to keep an eye on: 

  1. The Fed (Yellen went dovish yesterday and equities turned red on that into the close)
  2. Brexit (what if they do exit?)
  3. Mean Reversion and performance chasing

 

3. For The Birds... (6/15/2016)

This Week In Hedgeye Cartoons - Fed birdbrain cartoon 06.15.2015

 

"Fed 'data dependence' or absolute mediocrity in forecasting?" Hedgeye CEO Keith McCullough wrote following today's FOMC statement. "The Fed was hawkish in December, dovish in March and April, hawkish in May and now dovish again in June."

 

4. An Update On Global Bond Yields (6/14/2016)

This Week In Hedgeye Cartoons - Yield cartoon 06.14.2016

 

The yield on the 10-year German Bund hit an all-time low today falling into negative territory for the first time ever. Global sovereign bond yields continue to make new lows as #GrowthSlowing fears persist.

 

5. Living In A Bubble? (6/13/2016)

This Week In Hedgeye Cartoons - Soros cartoon 06.13.2016

 

Last week, hedge fund titan George Soros grabbed headlines after it was announced he had come out of semi-retirement and placed bearish bets, shorting the S&P 500 and buying gold. 


The Week Ahead

The Economic Data calendar for the week of the 20th of June through the 24th of June is full of critical releases and events. Here is a snapshot of some of the headline numbers that we will be focused on.

 

CLICK IMAGE TO ENLARGE.

The Week Ahead - 06.17.16 Macro Week Ahead


Capital Brief: Donald Under Duress? ... & Rubio Reconsiders

Editor's Note: Below is a brief excerpt from Hedgeye Potomac Chief Political Strategist JT Taylor's Capital Brief sent to institutional clients each morning. For more information on how you can access our institutional research please email sales@hedgeye.com.

 

Capital Brief: Donald Under Duress? ... & Rubio Reconsiders - JT   Potomac under 1 mb

 

I'm not the smartest fellow in the world, but I can sure pick smart colleagues.”

-FDR

DONALD IN DISTRESS

After the IN primary six short weeks ago, Donald Trump was atop some national polls and riding a high wave of Republican endorsements on his way to unifying the party, while Hillary Clinton was left to battle an insurgent and struggling to unite her own party.  After two tumultuous weeks of picking fights with everyone in his path, Trump has found himself alone and losing momentum faster than ever.

 

Republicans have had a knee jerk reactions to criticizing the nominee early and often in the past, but the frequency with which they’re doing it now is different and more problematic. With less than a month before the convention, he hasn’t won endorsements from many of his former primary opponents, has yet to put together a core finance team and is creating tension with the RNC - his only (and largest) organizational back up for the next five months. Does this guy really want to win?

GUN JAM

Our nation’s gun laws have many Democrats up in arms and now Trump - who throughout his campaign has expressed his opposition to gun control - has been prompted to meet with the National Rifle Association over the issue in the wake of the Orlando massacre. Trump has backed a no-buy list for FBI watch list members and the NRA has opposed the measure concerned that Americans wrongfully placed on list were being stripped of their constitutional rights to due process.

 

Tensions have emerged on Capitol Hill after a 15-hour filibuster by Senate Democrats has forced Republicans to hold votes on two separate gun measures - with PA Senator Pat Toomey being one of few Republicans willing to cross party lines on the issue.

RUBIO RECONSIDERING

When Senator Marco Rubio launched his presidential campaign, he made the bold promise of winning the White House or bust - but a lot has changed since then especially with Trump at the top of the ticket. Holding onto the Senate was always going to be a challenge for Republicans given the number of seats they had to defend and now with the political winds changing, Senate Majority Leader Mitch McConnell and his colleagues feel Rubio is their best hope to keep FL in the red column.

 

As the Democratic frontrunner, Rep. Patrick Murphy has been the beneficiary of the party’s growth in registration and fundraising in the state making him the early favorite…if Rubio doesn’t run. Rubio has exactly one week to decide if he’ll throw his hat in the ring.


Early Look

daily macro intelligence

Relied upon by big institutional and individual investors across the world, this granular morning newsletter distills the latest and most vital market developments and insures that you are always in the know.

Cartoon of the Day: Bear Grillz

Cartoon of the Day: Bear Grillz - gold cartoon 06.17.2016

 

For investors bearish on U.S. economic growth, like us, Gold is having an amazing run this year. Year-to-date, Gold (GLD) is up 21.7% versus up just 1.4% for the S&P 500.


McGough: 8 Retail Stocks With Credit Cycle Risk

In this excerpt from The Macro Show earlier today, Hedgeye Retail analyst Brian McGough explains why certain retailers are overexposed to a rollover in the credit cycle.


INSTANT INSIGHT | Brexit, #GrowthSlowing & European Equities Still Crashing

Takeaway: The Brexit vote is a coin toss and, despite today's pop, European equities remain in crash mode.

INSTANT INSIGHT | Brexit, #GrowthSlowing & European Equities Still Crashing - bear chart 02.26.2016

 

Here's analysis via Hedgeye CEO Keith McCullough in a note sent to subscribers earlier today:

 

"BREXIT – coin toss? I’d say so. And since I don’t make calls on coin tosses, I’ll just give you both bearish intermediate-term TREND signals in FTSE (6388 resistance) and Pound ($1.47 vs. USD) with an intermediate-term risk range of $1.39-1.47 – in other words, even if they don’t exit, odds are both remain bearish TREND (because the UK economy is slowing regardless vs. last year’s cycle peak)"

 

INSTANT INSIGHT | Brexit, #GrowthSlowing & European Equities Still Crashing - Brexit cartoon 06.16.2016

 

"DAX – more definitively bearish TREND than FTSE, but that’s because DAX remains in crash mode (-22% from last year’s cycle high); reminder that we still have the Street low forecasts for both Eurozone and German GDP in 2H of 2016 – #GrowthSlowing is the tail wagging the political dog, and it’s not just the UK who has political risks accelerating in kind."

 

INSTANT INSIGHT | Brexit, #GrowthSlowing & European Equities Still Crashing - Europe Japan cartoon 04.04.2016


Daily Trading Ranges

20 Proprietary Risk Ranges

Daily Trading Ranges is designed to help you understand where you’re buying and selling within the risk range and help you make better sales at the top end of the range and purchases at the low end.

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