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. Stampede! (9/30/2016)
Wells Fargo CEO John Stumpf was grilled by Washington lawmakers earlier this week after the bank paid a $185 million settlement and entered into an enforcement action for allegedly “widespread illegal” sales tactics. The bank opened as many as two million fabricated or unauthorized customer accounts.
2. Draghi's Ducks (9/29/2016)
Fears over Deutsche Bank's financial health have moved into the German political arena as Berlin was forced to deny it was preparing a rescue and ECB head honcho Mario Draghi was grilled by the Bundestag over the future of the bank.
3. GDP Report Preview (9/28/2016)
"US GDP is going to be reported tomorrow and it’s closer to 1% y/y than it’s been all year," Hedgeye CEO Keith McCullough wrote in this morning's Early Look note. U.S.#GrowthSlowing continues.
4. Yellen's Arcade (9/27/2016)
The Fed isn't "data dependent." It's S&P 500 dependent and will do anything to keep the bull market going.
5. Snail's Pace (9/26/2016)
Why did the Fed put rate hikes on hold yet again? U.S. #GrowthSlowing.
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