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Meanwhile, let's check in on the PPT.​

Nothing Out of the Ordinary

Bloomberg reports U.S. Regulators Tell Mnuchin Nothing Is Out of Ordinary in Markets

Top U.S. financial regulators assured Treasury Secretary Steven Mnuchin during a hastily organized call Monday that they are seeing nothing out of the ordinary in markets, according to a person with knowledge of the discussion, despite a recent stock slump that many traders tied to the U.S. government shutdown and turmoil emanating from the Trump administration.

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The call with the President’s Working Group on financial markets, a move that appeared designed to calm nerves, capped a chaotic five days that started with Defense Secretary Jim Mattis announcing his resignation and culminated with Bloomberg News reporting Friday evening that President Donald Trump was discussing firing Federal Reserve Chairman Jerome Powell. The Standard & Poor’s 500 Index slipped by as much 2 percent on Monday.

Damn PPT Refuses to Do Its Job

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Clearly, the PPT does not know how to putt either. So sad.

Mike "Mish" Shedlock