patrick.net

Futures down 150 points.

Strategist says

Futures down 150 points

Watch that 10 year... the fact that after the Bretexit ;-) vote happened and it didn't even close under 1.56% impressive.

3 days of selling? Wed or Tuesday, get some margin calls, but we shall see escalation here even last the week.

It is about free trade for Britain. The EU stifles free trade.

Risk assets down further Monday
US Crude drops to $47
GBP -2%,
GBP/JPY -2.1%
Spot gold close to 2-year high

Logan Mohtashami says

Watch that 10 year... the fact that after the Bretexit ;-) vote happened and it didn't even close under 1.56% impressive.

The 10 year just hit 1.5%

Logan Mohtashami says

Watch that 10 year... the fact that after the Bretexit ;-) vote happened and it didn't even close under 1.56% impressive.

3 days of selling? Wed or Tuesday, get some margin calls, but we shall see escalation here even last the week.

There will be no significant rate hikes in the future, they are already more than late and the markets know this. As Schiff pointed out, just what the doctor ordered for the Fed, now they can use this "calamity" to hold off further. ZIRP is here to stay, hence are low rates. The damage for the US will likely be limited, but unless there is a more than stellar recovery you can forget about interest rates going over 1% for a long time to come.

Strategist says

The 10 year just hit 1.5%

Big difference between intra day action and closing, closing yields is what matters, we have had breaks under 1.50% this year twice actually, but it's the closing yield that matters

I am just shocked that no one else in the financial media or even bond traders haven't talked about this 1.60% level...

Yield slippage at key technical points are common ... 1.64% 2015 and 2016 closing yield and 2016 1.56% and 1.57% closing yield.. even after the Bretexit.. yield closed higher than the lows of recent weeks

I just did a facebook live with some Q& A using the CNBC market turmoil for those who have facebook

https://www.facebook.com/Logan.Mohtashami?pnref=story

mell says

As Schiff pointed ou

If it wasn't for Harry Dent, Peter Schiff would have has the worst 8 years of predictions of any one in planet earth.

Between Gold 5,000, inflation sky rockets, Oil 200 call in 2013 and now the Great Recession by November ...

I know Peter does this only to maintain his base who could never listen to him if he actually spoke on what is really going on, but Peter has had a terrible 8 years and his returns in the past 3 years have been negative if I remember right.

Oddly enough for a man who said Gold would reach 5,000 in 2013 he wasn't heavily invested in that trade ;-)

Logan Mohtashami says

If it wasn't for Harry Dent, Peter Schiff would have has the worst 8 years of predictions of any one in planet earth.

Between Gold 5,000, inflation sky rockets, Oil 200 call in 2013 and now the Great Recession by November ...

I know Peter does this only to maintain his base who could never listen to him if he actually spoke on what is really going on, but Peter has had a terrible 8 years and his returns in the past 3 years have been negative if I remember right.

Oddly enough for a man who said Gold would reach 5,000 in 2013 he wasn't heavily invested in that trade ;-)

Peter Schiff belongs in jail for his horrible advise. There is no difference between Bernie Madoff who ruined many lives, and Peter Schiff who ruined many lives with his horrible advise.

Strategist says

Peter Schiff belongs in jail for his horrible advise.

I watched a interview between Peter and Harry Dent back in 2013.. it was interesting to see the Mega Bears go at it ... Big difference between the 2 is the dollar thesis

Will Monday see a bounce back in the stock market? I think it will.

Logan Mohtashami says

If it wasn't for Harry Dent, Peter Schiff would have has the worst 8 years of predictions of any one in planet earth.

Between Gold 5,000, inflation sky rockets, Oil 200 call in 2013 and now the Great Recession by November ...

I know Peter does this only to maintain his base who could never listen to him if he actually spoke on what is really going on, but Peter has had a terrible 8 years and his returns in the past 3 years have been negative if I remember right.

Oddly enough for a man who said Gold would reach 5,000 in 2013 he wasn't heavily invested in that trade ;-)

There's a big difference between the right timing in trading and economic understanding. He has never gone BK and overall done OK, sure he hasn't had good years since 2008, but that may be changing, so for a long-term horizon the jury is out. Also, if you're right only once (Scion capital, Taleb) then that is all you need. In 2007 I saw no Logan warning of the housing/financial crisis, but maybe you were up there with Peter and had the CNBC muppets laugh in your face - if so, kudos. I maintain that he had good foresight wrt the 2008 crisis and then simply thought he was more powerful than the Fed, a big mistake. He has also been a perma-bear although he keeps investing in stocks around the world as well, incl. US stocks, just with a bigger focus on PM. Nobody is always right, Buffet would have gone BK without the Fed/gov intervention in 2008. And the gold-bears have also been calling for golds demise for a while now and that stubborn gold just does not budge. Now Gold 5k is a completely different topic.

mell says

In 2007 I saw no Logan warning of the housing/financial crisis,

That would be impossible because I didn't start writing until late 2010

However, if you add my model of recessionary economics, which I actually believe is easy to spot

Claims
LEI
JOLTS
Fed Rate Hike
Speculation in hot sectors

Fed started hiking in 2004, working from 1% Fed Funds then 17 rate hikes, high levels of household debt speculation

Just take my sentence structure now and got back then.... ;-)

As some of you know who follow me on facebook, Peter Schiff and the Gold Bugs have always been my main target, we have added many great youtube clips of Peter and Alex Jones who is hysterical... :-)

But, nobody beats Harry Dent .. 2010, 2013, 2014 and 2016 Dow 6,000 calls

One thing a lot people didn't discuss and being a demographic guy myself, is that not many people even today talk about that prime age labor force growth peaked in 2007, I see that as a huge factor but even today, it doesn't get mentioned much

Just wow

Logan Mohtashami says

Our rates are too high. Lets hope they go lower.

DB ... with a $13.25 stop loss

Strategist says

Our rates are too high.

Germany 15 year went negative...Goodness

10 year right it this level hold right ... then we should test the intraday lows of 1.35% ... I believe 1.43% was the closing yield lows back in 2012

Ironman says

How you making out on your S&P hitting a new record prediction?

Out of all the pull backs we have had in this cycle, this reasons has the least value in real economic terms.

This shall soon pass

www.youtube.com/embed/m_SKelYT5k0

I agree with Logan's earlier sentiment; I have always thought that Brexit was as much about the coerced acceptance of immigrants (as opposed to refugees) as it was about opposition to the nanny agenda of the EU dictats. Our cousins the Brits can be very contrarian, and this is a good thing.

FortWayne says

Many folks wish America to remain America, rugged individualism, small government. While liberals want a nation with centralized planning like every other dictatorship, where everyone is homogenized

you started off intelligently, but then your completely fucking retarded moronic normal self took over...

Isn't Britain voting to leave the EU roughly the equivalent of CA going for Trump in the general election?

cynn says

f immigrants

Age difference on this vote is very evident

Logan Mohtashami says

The old and the blue collared voted to leave. They will be sorry.

Strategist says

They will be sorry.

Really, why? Seems to be that the UK had way more immigrant workers than Expats working in other countries.

http://www.usatoday.com/story/news/world/2016/06/28/exploding-uk-immigration-helped-drive-brexit-vote/86424670/

Exploding UK immigration helped drive 'Brexit' vote

Annual legal immigration into the U.K. is now 10 times what it was in 1993, and experts believe this cultural dynamic fed fears of globalization and job losses which, in turn, drove last Thursday's vote to exit the EU.

Opponents of a British exit — "Brexit" — from the 28-nation EU argue that these new residents often take more menial jobs rejected by the British-born (that'a another lie told by the BBC).

The migration influx has been so dramatic in recent years that currently one in 20 people living in the U.K. — 3 million people — were citizens of another EU country just two years ago, according to the British Office of National Statistics.

Before 2004, when the EU expanded to include 10 new member states such as Latvia, Poland and other eastern European nations, net EU immigration to the U.K. averaged around 10,000 per year, according to the national statistics office.

When that expansion occurred, the U.K., Ireland and Sweden allowed EU nationals to immigrate immediately under the bloc's freedom of labor laws. The move unleashed vast numbers relocating to Britain.

Last year, 270,000 citizens from EU countries immigrated to the U.K., the statistics office estimates. About 85,000 Britons left the island for other EU countries. The net migration to the U.K. of 185,000 was a record, according to Full Fact, an independent fact-checking organization..