Believe Me, the Mexican Peso is Cratering Again

The hits keep coming for the Mexican peso. They have a lot of devaluing to do, now that they’re responsible for paying for a gigantic southern border wall.

The peso is lower by another 3.2%, approaching fresh lows reached on election night.

As an aside, the rise in sovereign bond yields isn’t just fun and games for asshole western nation with artificially rigged rates. As a consequence of the bond rout, nations who aren’t part of the QE cabal are seeing yields soar. The Brazilian 10yr is up 60bps today to 12.19%.

Now that LNKD is owned by Microsoft, I’m sure they don’t give a shit about losing a few million customers in Russia. That’s exactly what’s about to happen, after the company, stubbornly, refused to comply with laws that demand foreign internet companies keep storage of the data collected from Russian citizens inside Russia. It makes plenty of sense, especially in light of the fact that US companies have been co opted by government agencies.

Access to LinkedIn will be blocked in Russia after the U.S. social network failed to move personal data storage to the country, the country’s communications watchdog Roskomnadzor has said.

Conversely, services including Google, EBay, Booking.com and Uber have taken steps to move personal data storage to Russia, the watchdog has said.

“The access will be shut within days,” after a Moscow court rejected LinkedIn Corp.’s appeal Thursday, Vadim Ampelonskiy, spokesman for Roskomnadzor said. “LinkedIn failed to provide documents on moving personal databases to Russia.”

Last year, local authorities made it mandatory for foreign internet companies to store Russian clients’ personal data to servers located within the country. As the watchdog was monitoring implementation of the new law this year, LinkedIn became the first to fall foul of the ruling, with Roskomnadzor asking a Russian court to shut access to the site over non-compliance.

“The Russian court’s decision has the potential to deny access to LinkedIn for the millions of members we have in Russia and the companies that use LinkedIn to grow their businesses,” LinkedIn said in a statement. “We remain interested in a meeting with Roskomnadzor to discuss their data localization request.”

Shares of MSFT are lower by 2.5%

If you recall, none of our beloved tech leaders were fans of Trump. They actively supported and conducted fund raisers for Clinton, whilst making disparaging remarks about Trump. At the vanguard of Trump’s ire was Jeff Bezos, owner of Amazon.com and the propaganda arm of the Washington elite, The Washington Post.

No newspaper was more dishonest and subsequently hated by Trump, for coverage that was beyond the pale — as it pertains to honesty and integrity in journalistic standards.

As such, fear is beginning to take hold in Silicon Valley. FANG stocks are crashing lower now, down more than 5.3% at the moment.

What’s the theory?

Trump is on record saying Amazon is an anti trust concern and how Apple takes advantage of cheap labor overseas, in order to sell their shit here.

U.S. Republican presidential candidate Donald Trump said on Thursday that Amazon.com, the world’s biggest online retailer, has “a huge antitrust problem.”

In an interview on Fox News, Trump also said Amazon Chief Executive Jeff Bezos, who owns the Washington Post, is using the newspaper to influence politicians in Washington to help Amazon on taxes.

“This (Washington Post) is owned as a toy by Jeff Bezos, who controls Amazon. Amazon is getting away with murder tax-wise. He’s using the Washington Post for power so that the politicians in Washington don’t tax Amazon like they should be taxed,” Trump said.

“He’s using the Washington Post … for political purposes to save Amazon in terms of taxes and in terms of antitrust,” Trump said.

“He thinks I’ll go after him for antitrust. Because he’s got a huge antitrust problem because he’s controlling so much, Amazon is controlling so much of what they are doing,” Trump said.

Shares of our beloved FANG stocks are absolutely cratering now.

Hopefully, Trump will investigate Twitter and Facebook for using their monopolies to promote a political ideology too.

Yes, the fire rises.

Well, at least he’s consistent. He’s never liked any of the ‘dreadful’ Goldman people who’ve ruined countries in order to make themselves rich, or the autocrats in Europe, or the ‘creature’ we have fomenting division in the White House.

Farage had been a very active a vocal supporter of Trump throughout the elections. Aside from casting aspersions at Obama and telling people how great Trump is, he’s also offering to be a middle man between Trump and Theresa May.

Mr Farage said in the radio interview: “That Obama creature – a loathsome individual who couldn’t stand our country. He said he’d be at the back of the queue, didn’t he? And Americans don’t use the word queue, they use the word line. So it was all a Dave and George stitch-up.

“What was interesting was that Trump said we’d be at the front of the queue. Listeners, bear this in mind, however imperfect Donald Trump may be, and he is, his mother was Scottish, he’s spent a lot of time in this country, he loves our country, what we stand for, and our culture.

“This is a big opportunity for all British business because once we’ve left that awful EU thing we can do our first trade deal with the United States of America. Isn’t that great?”

Mr Farage also suggested that he was the “catalyst” for the downfall of the” Blairites, the Clintonites, the Bushites”.

“All these dreadful people who work hand in glove with Goldman Sachs and everybody else, have made themselves rich, and ruined our countries,” he said. “I couldn’t be happier.”

Last year, the House of Saud sent out their hedonistic spokesman, Prince Alwaleed, to talk shit about Trump — calling him a ‘disgrace’ — calling for him to remove himself from the Presidential race because he’d never win.

Today, he’s a Trump fanboy.

President elect @realDonaldTrump whatever the past differences, America has spoken, congratulations & best wishes for your presidency.

— ?????? ?? ???? (@Alwaleed_Talal) November 9, 2016

The King must’ve threatened to behead his favorite sex slave at his favorite harem, if he didn’t repair relations with Trump. I’m sure he’s pouting over this now, in his golden throne inside of his private jumbo jet airline.

He’s also looking forward to big economic growth coming out of the awesome GOP.

“There’s no excuse at all for the Republican Party, which is dominant in the United States, to not deliver this growth that is expected from them,” Alwaleed said in a telephone interview with “Squawk on the Street.”

“One of the concerns that world leaders have against — I emphasize candidate Trump, not president Trump — is that they were not sure about his commitment to all of the international treaties that he had,” the Saudi billionaire said.

They’re all globalist whores, scum of the earth, changeable demons.

Everyone loves Trump now. Well, everyone except some butt hurt millenials who have scrambled eggs for brains.

All of a sudden, Trump is the shit. Gone are the days when he was literally Hitler and a grave threat to life. Now, since he’s been elected, he’s Reagan. No, scratch that. He’s Reagan without the jelly beans, with a golden mane, and much, much smarter.

Markets are soaring. Even Mexico and China love Trump. He’s literally going to make Mexico pay for a southern border wall, and they love him for it. The Chinese and Japanese markets are both celebrating an end to their very profitable careers as professional thieves, stealing from the American people.

Long time bear, Stanley Drunkenmiller, said he sold all of his fucking gold on election night and now buys stocks that focus on economic growth.

“I sold all my gold on the night of the election,” the founder and former chairman of Duquesne Capital said in a “Squawk Box” interview.

He said he’s betting on growth by shorting bonds globally and he likes stocks that respond to growth. He also likes prospects for the dollar, especially against the euro.

This rosier outlook is in sharp contrast to what Druckenmiller said at the Sohn Investment Conference in New York in May. He told attendees they should sell their stock holdings. At the time, he said gold was his “largest currency allocation.”

In the past, Druckenmiller has been negative on the country’s growth prospects, but he said Thursday: “It’s as hopeful as I’ve been in a long time.” He added, “I would not be surprised if we’re not looking at the peak of the divisiveness.”

Since Republicans maintained control of the House and Senate while winning the White House, Druckenmiller said “this is the greatest chance” to get tax reform and regulation passed.

That’s it. Trump is both adored and cherished on a worldwide basis, as a gift — father of dragons — breaker of economic chains. Hillary Clinton wasn’t really Wall Street’s favorite. They were just scared she’d have then killed and made believe they liked her. Truth is, they fucking hated her. They love a Trump and you can see that now, as the Dow is whisked higher to new record highs, amidst happiness and joy that our next President is, in fact, a financial genius.

Karl Rove isn’t part of the future of the new Trump movement. From day one, he was against Trump, as well as other neocon scum like Bill Kristol, because Trump didn’t like to bathe in the blood of middle easterners before tea time. You should expect to see many neocon scum try to co-opt Trump, now that he’s been elected.

It’s imperative that Trump give the people what they desire. Amongst other things, we want the heads of these neocons on a spike, as well as the prosecutions of Hillary Clinton and all of her minions, including John Podesta. Now that we have the globalists on the run, they cannot be afforded safe quarter.

These fuckers should fear a Trump presidency and god willing he will make them rue the day they decided to commit sedition.

Here’s Tucker correcting Rove about his absurd claim that Ryan helped Trump win Wisconsin, saying Trump should be ‘grateful’ to Walker and Ryan for the W. I hope Trump displays his appreciation for Ryan’s ‘efforts’ by having him removed as speaker of the house.

It was not all carrots. There were plenty of sticks. In spite of markets surging by 250, just 67% of stocks went higher. Amongst the best performing sectors were in construction and resources. The theory is, Trump will fuck the EPA and tell the polar iced caps to fuck themselves. America has both oil to drill and coal to mine.

For me, the greatest standouts were in the refinery sector, an industry beguiled by Saudi Arabian pressures on U.S. production. Here’s the bullish thesis in a nutshell.

Trump permits wanton oil exploration, which creates a widening between the price of WTI and Brent, a key profit center for domestic refiners. This spread, which was once very bountiful, has been reduced to nothing at all — ever since U.S. production slowed thanks to cheap crude.

Amongst the winners were HFC, ALJ, DK, CVI, WNR and PBF.

Some losers in the consumer goods sector were found in multi-nationals, like BUD, STZ and DLPH. It’s worth noting, RGR dropped by 14% — because Trump is friendly to 2nd amendment rights. Funny how that works, no?

In the financials, REITs collapsed as rates spiked. Banks roared higher, due to a widening yield curve. And private prison stock, CXW, raged higher on the belief that Trump is going to use them to toss all of the Hillary Clinton supporters in their cells. Truth be told, the blow out of the U.S. yield curve is indicating inflation — for better or for worse. Higher rates might fuck the economy — but banks will love it, at least for a bit.

Biotech and big pharma were massive winners today, with big gains in stocks like RARE, SGEN, PFE and CELG. It is widely believed Trump will not screw them over in a way that Hillary would’ve, as she implemented Obamacare 2.0. Truth is, any healthcare reform will result in squeezing the margins on big pharma. Both hospital and insurance stocks, like HCA, THC, CNC and LPNT, were sent to hell today. The Obamacare gravy train has ended. It’s worth noting, PRSC plummeted today. That company is literally a play on welfare. Perhaps Trump will reform our entitlements programs too.

Amongst the industrials, U.S. Steel led the way higher, ticker symbol X. Truth be told, in Exodus, I had created my 2nd half of 2016 GARP portfolio with a Trump presidency in mind. U.S. steel will be one of the biggest beneficiaries of trade protection versus China.

In services, online education stocks roared higher. They’ve been under extreme regulatory pressures from the Obama administration. The idea is logical, since liberalism festers and thrives within the confines of our Universities and colleges. It makes sense to crush the online players, in order to protect brick and mortar. Being that Trump had an online education service himself (lolz), this sector might thrive under Trump. The winners were CECO, STRA, LOPE and DV. Also, ESRX surged ahead. Perhaps they will be given even MOAR powers to negotiate drug prices lower? Seeing both GILD and ESRX surge on the same day makes no sense — but that’s the market.

In tech, S was the big standout and solar stocks absolutely collapsed. Names like SPWR, CSIQ and JKS were clown raped. It’s bad enough being a solar panel maker under Trump, who doesn’t believe the climate change nonsense. But to be domiciled in China is a whole new set of issues for shareholders to deal with. I’d avoid like the plague.

Utility stocks dropped hard due to rates rising. Gone are the clean energy subsidies from Obama and the weening off from coal. Those fuckers will be buying cheap as shit coal again and like it.

I hope this helped you understand what the market was saying today. If you only looked at headlines, you would’ve never noticed the 4d chess game our asset managers were playing today.

Ed Klein, former editor in chief of the NY Magazine, said around 6:30am Hillary called an old friend and ‘cried inconsolably’ — pissed the fuck off at Obama for not stopping the FBI Director, James Comey, from investigating her many criminal activities. If only Obama could’ve Breitbart’d Comey, perhaps she would’ve been elected yesterday.

Ed Klein: Hillary cried inconsolably, blamed Comey & Obama for not doing enough to stop FBI investigation. pic.twitter.com/KsqiKp5Jhz

— Paul Joseph Watson (@PrisonPlanet) November 9, 2016

Seeing Asian markets boom higher is no different from someone celebrating his own demise over a steak and champagne dinner. The proposed policies of D.J. Trump will revoke the deleterious trade deals which have laid waste to vast swaths of the American rust belt — as well as other parts which aren’t part of the coastal elite globalist scum.

I get the gist of wanting to move higher. Equity markets, traditionally, love a good short squeeze. But I’m telling you now, none of these fuckers who are buying stocks have the slightest idea what a Trump ascendancy means for them. None of the media or global elite understand how Trump was even in the running, let alone the odds on favorite to become our next President. These same people, mercenary capitalists, believe status quo and maybe a little infrastructure stimulus will become the hallmarks of a Trump government.

WRONG.

At the heart of Trump’s policy proposals is an ‘American first’ theme which will lead to tariffs on goods entering into the United States. Moreover, he will remove the shackles on both coal and oil industries to better exploit our natural resources. Again, these policies aren’t friendly to global trade, but instead focus on creating wage growth domestically.