Succinct Summations of Week’s Events 5.18.18

Succinct Summations for the week ending May 18th, 2018 Positives: 1. Same store sales growth rose 4.9% y/o/y, up 0.7% from previous 4.2% increase. 2. Jobless claims came in at 222k, sending 4-week average down 2,750 to 213,250. 3. Crude oil inventories fell 1.4 million barrels w/o/w to 432.4 million, 4. E-commerce retail sales rose 3.9% in…

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Argentina forced to seek IMF aid over fears for economy

Country pursues deal after President Mauricio Macri fails to stem run on the peso

Argentina’s struggle this week to prevent a collapse in its currency and soaring interest rates from destabilising its ailing economy appeared to have ended in failure on Friday, leaving it to seek financial aid from the International Monetary Fund.

The IMF, the lender of last resort to nation states, said the South American country had formally requested an “exceptional access standby arrangement” that would allow Argentina to pay its foreign bills while the government sought to prevent a repeat of the 2001 crisis.

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Mr. Market is “Your Needs” Agnostic

The Markets Don’t Care About Your Wants or Needs Thinking outside the box probably is a mistake. Bloomberg, May 18, 2018   You may have reasonable expectations of what you can expect from your investments during the coming years and decades. But regardless of what your risk-adjusted return expectations are, the first rule of economics…

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