A 52-"Weak" High For Stocks?

While the S&P 500 his on an impressive string of new highs, a number of them have come on questionable breadth.

If You Bought 30 Years Ago Today...

What would your returns be today if had you bought various assets the morning after the "Black Monday" crash? Deutsche Bank calculates the answer.

Frontrunning: October 19

  • Rajoy Deploys Ultimate Weapon of Law on Catalonia (BBG)
  • Congress Rolls Toward Shutdown Fight Over Immigration, Obamacare (BBG)
  • Hong Kong Stocks Tumble Most This Year as Geely, Developers Sink (BBG)
  • Inside battle imperils $230 million cryptocurrency deal (Reuters)
  • From Damascus, Iran vows to confront Israel (Reuters)

Global Markets Shaken By Sudden Equity Sell-Off: Hong Kong Crashes, VIX Surges

Global markets have been shaken by a sudden wave of overnight equity selling as worst case scenario for Spain finally materialized, while a slide in Apple stock has spiked the VIX, which coupled with a plunge in the Hang Seng and several other notable macro events may have finally woken up from their comatose state.

Spain To Activate Article 155 Process, Suspending Catalonia Autonomy

Spain announced it will trigger the so-called "nuclear option" of Article 155 under the Spanish Constitution, and move ahead with the process of suspending Catalan autonomy and the powers of the local government, after Regional President Carles Puigdemont for the second time in three days refused to drop his claim to independence.

Ray Dalio Is Shorting The Entire EU

"Dalio doesn’t call the bluff of Italy, and this is not just like George Soros’ shorting the British pound in 1992, he’s calling out the entire EU and its financial system. He’s saying I don’t believe you can keep up the charade. He’s making a mockery of Mario Draghi’s 'whatever it takes'..."