Uncertainty Can Be Bullish

(1) Trennert, Straszheim, Rothman, Laffer, Greenberg, and me. (2) Laffer curves election outcome toward Trump landslide. (3) Reagan, like Trump, also was despised by Republican establishment. (4) Talking about a melt-up on a down elevator. (5) Is the Brexit panic over already? If so, why? (6) Melt-up in bonds and interest-rate-sensitive stocks. (7) Brexit uncertainty begets certainty about central bankers’ reaction. (8) Carney is promising rate cuts this summer. (9) ECB can’t find enough bonds to buy and can’t get inflation going. (10) BOJ has the same no-show problem with inflation as ECB. (11) Yellen will have some things to talk about at Jackson Hole in late August.