First Call - Hedge Fund Telemetry

S&P futures down 0.2% after the index posted good gains last week, hitting new record highs. Asian markets mostly lower overnight, though things were very quiet with both mainland China and Japan closed for holiday. European markets lower. Treasuries slightly weaker with a bit of curve steepening. Dollar slightly weaker following back-to-back weekly declines. Gold up 0.2%. WTI crude up 1.6%
Trade tensions in focus. China canceled trade talks with US while White House reportedly to soon move forward with plans for tariffs on final $267B of Chinese imports and launch an administration wide broadside against China. However, WSJ also reported Beijing leaving the door open for fresh negotiations and hopeful that Trump and Xi may be able to hammer out an agreement at a possible summit in November.
OPEC and Russia rebuffed Trump’s call for an immediate boost to oil output. More volatility in the headlines surrounding Brexit with press reports speculating on potential for a snap election or second referendum. Also talk of a Canada-style deal with EU. Nothing really new surrounding Italian budget with finance minister still under pressure from populists to loosen the purse strings.
Busy in terms of M&A headlines. Comcast big $39B for Sky beating out Fox. Barrick Gold to acquire Randgold for $6B in all-share merger. Sirius to acquire Pandora for $3.5B in stock. Michael Kors reportedly near deal to acquire Versace. Dell said to be discussing IPO as backup plan if DVMT acquisition falls through. NY Post said some PE firms concerned about takeover price sought by Arconic
Supreme Court Nominee Kavanaugh Nomination at Risk as New Claims of Misconduct Emerge

Unsubscribe me from Hedge Fund Telemetry

CONFIDENTIALITY NOTE and DISCLAIMER: This message is for the named person's use only. It may contain confidential, proprietary or legally privileged material. No confidentiality or privilege is waived by any accidental or unintentional transmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print or copy any part of this message if you are not the intended recipient. Hedge Fund Telemetry LLC. cannot guarantee the confidentiality of the material transmitted; therefore, information of a sensitive or confidential nature should not be transmitted. There is risk in trading markets. Hedge Fund Telemetry reports are based on information gathered from various sources and believed to be reliable, but are not guaranteed as to accuracy and completeness. The information is subject to change without notice and Hedge Fund Telemetry LLC has no obligation to provide any updates or changes. Hedge Fund Telemetry LLC is providing this data for informational and educational purposes and does not believe that it is sufficient to base an investment decision on. This information should not be regarded as a solicitation or recommendation of any particular security or to engage in any trading strategy. One should always check with your licensed financial advisor to determine suitability of any investments.