"In 2016, we did 15 deals in China, outward into the U.S. and Europe. In the last 12 mos, it's close to 0. So we were very active in the market. Its almost impossible to tell a public company board to enter the risk of getting Chinese approval right now.” - Ken Moelis on @CNBC

The all-time highs today would be on Chicken Little's buy list:

* American Electric Power
* Zoetis
* American Tower
* American Water Works
* CMS Energy
* DTE Energy
* Eversource Energy
* NextEra Energy
* Southern Co
* Sempra Energy
* Alliant Energy
* Xcel Energy

JPMORGAN: “We now see the risks of the next [Fed] move as about evenly distributed btw a hike and a cut.. We still sense little appetite on the FOMC for an insurance ease.. but we see rising odds of ‘your father’s rate cut’: one prompted by downside growth risks”
(via @pattidomm)

Ken Moelis on @CNBC: The risk of an protracted, all-out China trade war may be small, but it's "too large" for large-cap companies to enter into anti-liquid types of events like M&A.

MILLER TABAK: a 4.5% pullback isn’t “enough of a decline to accurately ‘reprice’ the mkts to these new uncertainties.. This does not mean we're headed for a recession,.. but it does mean that the mkt needs to fall further.. now that ‘perfection’ is very unlikely to be achieved”

INTERLAKEN, Switzerland, May 24 (Reuters) - Britain should
be prepared to walk out of the European Union without a deal if
it is unable to negotiate a suitable exit agreement, British lawmaker
and prime minister hopeful Boris Johnson said on Friday.

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