Last weekend we went with 2025 Will Be Messy. We discussed that subject and the implications on Bloomberg Radio/YouTube (30-minute mark) to kick off the year on Thursday. Unfortunately, Academy also had to publish a SITREP – Terrorist Attack in New Orleans.
We did get some volatility as stocks sold off into the New Year. While assets tried to bounce on the first day of trading, that momentum faded. However, at least stocks (and Bitcoin) performed well on Friday (which, technically, is the last official day of the Santa rally, which the Grinch did seem to hack).
What was noticeable about Friday was how well stocks did after the Speaker was picked on the first vote. While there were some delays as “cloakroom” deals were hammered out (which brought back memories of Hamilton’s “The Room Where it Happens”), the whole thing went relatively smoothly.
Markets were prepared for more of a “mess” (than what actually occurred), and rightfully did well as optimism that the positive things for the economy (and markets) will get done.
The expected deluge of corporate bond issuance got off to a fast start with 10 issuers coming to market on Thursday! (Academy was an underwriter on 5 of those deals). […]
— Read More: www.zerohedge.com
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