Yesterday, the President of The United States walked into the General Assembly of The United Nations, grabbed a mic and gave a 20 minute speech that centered on nationalism, threats of war, and literal name-calling. Meanwhile, a massive earthquake rocked Mexico City putting 21 million in peril, and another category 4 hurricane battered the already beaten islands of the Caribbean. In Washington, Congress is still stuck debating intractable health care legislation that pushes back the timeframe on tax reform, and the man Wall Street trusts most to temper Trump's agenda - Gary Cohn - is turning from a metaphorical human hedge into a more literally metaphorical human hedge.
Yesterday, all three major indices posted significant gains and broke yet again into historical levels. The VIX was almost unchanged.
The irony of this was not lost on Michael R. Bloomberg.
In an interview with CBS News, the former Mayor of New York City who also made billions charging Wall Street for news and data, seems to think that Wall Street is ignoring news in favor of data.
ANTHONY MASON: One of the first things that the president said in the speech today, which he often says, is that the stock market is at a record high.
BLOOMBERG: And it's up today.
MASON: What is that a reflection of?
BLOOMBERG: I have absolutely no idea. I cannot for the life of me understand why the market keeps going up. Our economy has some real challenges. The infrastructure's falling apart. We're destroying jobs with technology. We are keeping the best and the brightest from around the world [from] coming to America to create new jobs and create new businesses. All of those things would give you pause to worry about the future.
Basically Mike Bloomberg would like to ask the financial markets "Are you fucking high?"
Clearly, Bloomberg is shook by Trump walking into the UN and turning into the Andrew Dice Clay of global diplomacy and many other policies advocated by this administration. Bloomberg is also clearly ignoring all that deliciously positive data and unsinkable market sentiment, but he is part of that growing chorus of money-smart old dudes wondering aloud if this market is tethered at all to reality and if Trump has finally become the ultimate example of looking at an uncertainty and trying to price it as a risk.
Or maybe he just wants you to read your terminal.