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Macro Morning - MacroBusiness

MacroBusiness Access Subscriber Only Content at 8:30 am on July 16, 2021 | 4 comments Risk markets continue to swing from hope to fear with the latter ruling again overnight without any obvious catalysts. Both European and US stocks fell back around 1% or so with commodities equally mixed as oil dropped 2% while industrial metals lifted. The USD rebounded after falling back midweek while bond yields also fell back to their weekly lows as Fed Chair Powell re-iterated the Fed’s stance to the Senate overnight. Bitcoin’s deflation continued with a return to the $31K level yesterday that has it on track to get back to the start of year position at $30K or lower as the daily downtrend line (upper black sloping line) still holds:

This Instagram Page Is Dedicated To Sharing The Ridiculous Ways People Were Caught Standing In Public, And Here Are 42 Of The Best Stances

If you’ve seen Monty Python’s Flying Circus, you probably know where this is going. If you’re not aware, then let me break it down to you: the surreal comedy troupe called Monty Python used to make absurd skits back in the late ‘60s through the early ‘80s with comebacks here and there. One skit, in particular, is about theMinistry of Silly Walks, which is exactly what it sounds like. It talks about silly walks and how one person is attempting to acquire a grant to develop a silly walk. Well, it seems that the legacy lives on in the form of silly standing. The link may or may not be relevant here, but the vibe is definitely the same. And there’s a whole Instagram account dedicated to this!

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