LBBW's Karl Haeling said even........>

US TSYS/STOCKS: LBBW's Karl Haeling said even though Trump advisor Bannon "left

the White House and it now looks more like moderate, pragmatic advisors will

stay, equities could not close higher on the day and had a weak close" which

adds to potential "for additional near-term correction."

- He saw "this as a function of a simple correction after a lengthy bull move

and the risk that political disarray will continue to discourage investors.

Bannon's departure does give the White House a chance to regroup and stabilize

itself, and give the pragmatic, free trade globalist advisors freer room to

promote their desired policies."

- He said Bannon departure "and apparent decision by Cohn to remain at the White

House mainly just reduces the odds of a negative turn in Trump's economic

policies but does not materially improve the potential for action like tax cuts

or infrastructure spending." 

- Haeling said next "big non-political event" is Fed Jackson Hole conf. Thu,

Fri. "And the next big political challenge for the Trump administration and

Congress will be to raise the federal debt ceiling by the end of Sept," he said.