Last month's jobs report (pre-Brexit) wasn't an "anomaly." It was part of #TheCycle's trend.
Takeaway: Global bond yields continue to make all-time lows as equity markets get drubbed. Got #GrowthSlowing?
Take a look at global equity performance over the past year. It's been dismal.
Have you been long the Long Bond (TLT)? That's been our Macro team's biggest call for well over a year now. It's worked out well for our subscribers The 10yr Treasury yield continues to fall with its global peers as growth continues to slow. And that's generated significant returns for investors.
Take a look below at a chart of 10yr yields around the world (indexed to 100 on 7/8/15).
In other words, the effervescent hope that equity markets are "so cheap you simply have to buy now" hasn't come true.
Takeaway: Clinton Heads Down The Shore; Trump Bump; The Bachelor – Trump Edition;
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 email@example.com.
“We must adjust to changing times and still hold to unchanging principles.”
Not to gamble, but rather to bash Donald Trump in Atlantic City, NJ – the home of Trump’s many bankrupt casinos. Clinton hammered Trump’s promise to do for the nation what he did for his businesses – cautioning that it should be viewed as a warning, not an enticement. Trump’s legacy in Atlantic City is a rough one and Clinton made a killing. It includes four rounds of bankruptcy for the casinos he built there, costing workers, lenders, stockholders and contractors jobs and money. The verbal shots keep flying at the expense of falling credibility ratings for both – just sit back and enjoy the show.
For those of you keeping count, Trump raised $51 million in the five weeks through the end of June, collecting $26 million for his campaign and $25 million for the Republican party. Think back to just a few weeks ago when he had less than $1.3 million in the bank. The bump comes as a sign that his lagging fundraising efforts are finally starting to gain traction and should show Republicans on the Hill that he’s taking this more seriously and just in time for his meetings with them today.
Trump’s veepstakes has resembled a reality tv show as of late - he’s spent this week (it’s not even over yet!) with a different prospect each day. Senators Joni Ernst (IA) and Bob Corker (TN), Governor Mike Pence (IN), and former Speaker of the House Newt Gingrich have all split time with Trump as he traveled throughout the East Coast (we’re betting Governor Chris Christie is feeling a bit spurned right now). Although Corker and Ernst have all but withdrawn from consideration, we still expect the final rose ceremony – his veep selection announcement – to be sometime next week ahead of the convention.
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Hedgeye Healthcare analysts gave a special investor preview of their upcoming Healthcare Themes presentation. Viewers asked our team questions during live Q&A.
Veteran Healthcare Sector Head Tom Tobin and analyst Andrew Freedman gave a special preview of their upcoming Healthcare Themes call today. Don’t miss the key investing callouts and trends in healthcare as well as changes to their Best Ideas list (Tickers include ATHN, ILMN, HOLX, AHS, ZBH, MD, MDRX).
Takeaway: Time of the call is tomorrow July 8th at 11am EDT
The Hedgeye Internet & Media and Gaming, Lodging, and Leisure (GLL) teams will host a conference call tomorrow, July 8th at 11am EDT to present EXPE as a new Best Idea Long.
TODAY at 11:00am ET we will be hosting our highly-anticipated Quarterly Macro Themes conference call. Led by CEO Keith McCullough, the presentation will detail the THREE MOST IMPORTANT MACRO TRENDS we have identified for the quarter and the associated investment implications.
CLICK HERE to watch live.
Q3 2016 MACRO THEMES OVERVIEW:
As always, our prepared remarks will be followed by a live, anonymous Q&A session. Please submit your questions to . Also, for those of you who cannot join us live, we will be distributing a replay video of the call shortly after it concludes.
-The Hedgeye Macro Team