President Ford granted former President Richard M. Nixon an unconditional pardon for all Federal crimes that he “committed or may have committed or taken part in” while in office. Ford said his pardon was intended to spare Mr. Nixon and the nation further punishment in the Watergate scandals. This establishes the precedent and answers the […]

COMMENT #1: To everyone at Armstrong Economics, This years WEC seemed like it was in the distance future. Then it was a month, a week, and a day away. Now It’s been one week since we were all gathered in the Hilton Bonnet Creek Auditorium for the WEC 2016. I was excited for this years […]

We hardly saw any excitement overnight other than the fact that the BOJ bought some 10yr JGB’s to keep yield around zero. This obviously has a detrimental affect on the currency and in late trading we see JPY trading close to 110. As a consequence of the weaker currency financial stocks traded heavy whilst the […]

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Understand one thing: revolutions emerge from the youth. With all the rhetoric hurled during the campaign, and Bernie Sanders promising free everything at the expense of anyone who works for a living, the youth have become an increasingly communistic generation. Typically, candidates promise everything and nobody really expects them to deliver. This election has hit a nerve simply because it […]

Despite a better than expected GDP in Japan (almost double expectations) yesterday failed to inspire much of a follow through today. That was the case until the cash market closed and it was only then that the Yen took a turn for the worse. In late US trading the Yen broke into the 109 handle […]

In Japan we saw a much better than was forecast GDP release (+2.2% v’s expectations of +0.9%) which created a huge positive move for the Nikkei but to the detriment of the JPY. The Nikkei finished the day 1.7% higher whilst the Yen traded back over the 108 handle a move on the day of around 1.6% […]

The degree of how morally debased many of those who have been supporting Hillary is being exposed just how anti-democratic these people are boarding on a virtual communist-like revolution. They have had the audacity to submit a petition to tell the electors not to vote for Trump on December 19th and still give it to Hillary saying […]

One of the largest one day gains seen in the Nikkei with a rally of almost 7% on the day. Upon the open almost no trades were seen until the index was over 5% higher, comfortably taking out the 17k level again. However, the flip-side of this move was the JPY which traded from 101 […]

Today was always going to be about the election with all markets anxiously awaiting any headline. In China we saw a smaller than expected Trade number but really was nothing to write home about. Also, we heard that foreign exchange reserves fell by $45.7bln to $3.121 trillion which was one of the largest declines this […]