<Click on graphic for larger image> Bloomberg.com – Pound’s flash crash has traders blaming algos for selling frenzy During two chaotic minutes of Asian trading, the pound plunged the most since the Brexit referendum in June, with traders saying computer-initiated sell orders exacerbated the slump. The 6.1 percent drop drove sterling to a 31-year low… Continue reading The Pound’s Flash Crash
<Click on graphic for larger image> Dark-Bid (Blog) – BTFD! One Chart Shows Why This Is The Only Strategy That Matters Yes, it’s really as simple as it sounds. Whenever the market is down at least 1%, you buy the index with a little leverage, put on your central banker hat, and watch the money roll… Continue reading Buy The Dip
MarketWatch – Fed is waiting for confidence to ‘turn on’ Fischer says One factor holding back economic growth and investment is a lack of business confidence and the U.S. central bank is waiting for it to “turn on,” Fed Vice Chairman Stanley Fischer said on Friday. “Confidence has to be turned on for people to… Continue reading Fedspeak
Reuters – Banks ponder the meaning of life as Deutsche agonizes It wasn’t just Deutsche Bank that was grappling with big questions about the future at the International Monetary Fund meetings in Washington last week. The German bank is scrambling to overhaul its operations as it faces a multi-billion dollar fine for selling toxic mortgage-backed… Continue reading Deutsche Bank
<Click on cartoon for larger image>
Comment Late Friday this came out: The Washington Post – Trump recorded having extremely lewd conversation about women in 2005 Donald Trump bragged in vulgar terms about kissing, groping and trying to have sex with women during a 2005 conversation caught on a hot microphone, saying that “when you’re a star, they let you do… Continue reading Did Trump’s Presidency End Yesterday Afternoon? Only Tomorrow Night’s Debate, And A Huge Win, Can Save Him
The Wall Street Journal – U.S. Added 156,000 Jobs in September; Jobless Rate Rose to 5% The U.S. economy delivered modest job growth in September while wages picked up, suggesting a steady labor market as the Federal Reserve moves closer to raising interest rates and the campaign season enters its final stretch. Employment outside of… Continue reading Employment In Pictures
CNBC – Average Americans have a lot at stake in the stock market The average American household has become much more exposed to the stock market, according to a new report from Bank of America Merrill Lynch. This level of equity exposure — similar to where the markets peaked prior to the financial crisis — is… Continue reading More On “Household” Equity Ownership
<Click on graphic to view video> Comment Jim Bianco was a co-host on CNBC’s Closing Bell yesterday. To view a clip from the interview, click on the image above. To view any of our recent interviews, click here. Bloomberg Business – Retailers Are Now Blaming the Election for Poor Sales Executives say shoppers ‘glued’ to campaign, not spending… Continue reading Discussing Retailers
<Click on graphic for larger image> The Financial Times – Pound struggles to recover after plunging 6% in 2 minutes Algorithmic traders blamed for spurring sudden drop during thin Asian trading The British pound suffered a sudden fall of more than 6 per cent against the US dollar early on Friday before recovering most of its… Continue reading The Pound’s Flash Crash
<Click on chart for larger image> The Financial Times – Investors keep their appetite for global bond funds Capital inflows of $11.4bn in past week underline partiality for fixed income Investors turned to one of their favourite trades of the year, piling cash into global bond funds despite the first intimations around the tapering of central… Continue reading Investors Continue To Pour Money Into Bond Funds
Bloomberg Business – Saudi Arabia’s Engine of Future Growth Is Running Out of Gas A flurry of cost-cutting measures will likely push the non-oil economy into recession, analysts say. That means that any overall growth in 2016 will be largely due to record crude output. Efforts to manage the fallout from cheap oil gathered steam over… Continue reading Saudi Arabia’s Faltering Economy