The euro “might start to unravel” if Deutsche Bank collapses according to respected financial journalist, Matthew Lynn. “It all has a very 2008 feel to it …” he warns and outlines his and our growing concerns about Deutsche Bank.
Oil prices have bounced off Friday's plunge lows, with WTI hovering around $45. The market for now is being driven by short-term headlines offering hope of a deal/production cuts (and rapid denial) and medium-term speculators unwinding bullish bets.
All eyes turn to the debate as Trump opens up a 2-point lead in the latest Bloomberg poll and the New York Times launches an all out attack on Trump describing him as a "man who dwells in bigotry, bluster and false promises"...sounds like panic.
The week ahead is striking in the sheer number of central bank speakers, but with the Fed on hold until December and the BoJ’s new framework now revealed, focus turns squarely from central banks to US politics. The first US presidential debate at the start of the week will be a key focus.
Just three weeks after yet another "landmark" Syria peace deal was signed, the agreement is not only in tatters but the war drums are beating louder than ever before after the US slammed Russia's action in Syria as "barbarism," not counter-terrorism, while Moscow's U.N. envoy said ending the war "is almost an impossible task now" as Syrian government forces, backed by Moscow, bombed the city of Aleppo.
"I don’t buy at all what’s coming out of Germany in terms of Germany not wanting to step in ultimately if Deutsche Bank was really in trouble" said Andreas Utermann, Allianz Global Investors’ chief investment officer. "Deutsche Bank is “too important for the German economy.”
Turkish assets plummeted the most since an attempted coup in July and credit risk climbed after Moody’s Investors Service cut the country’s sovereign rating to junk. The immediate response by the Turkish administration was to lash out at Moody's calling the decision "politically-motivated", after a similar downgrade by S&P led Erdogan to acuse the agency of siding with coup plotters.
While today's biggest event for both markets and politics will be tonight's highly anticipated first presidential debate between Trump and Hillary, markets are waking up to some early turmoil in both Asia and Europe, with declines in banks and energy producers dragging down stock-markets around the world, pushing investors to once again seek the safety of government bonds and the yen.
As reported over the weekend, in an unexpected announcement Angela Merkel announced that she has ruled out state aid for Deutsche Bank, and the market reaction has been swift and brutal, with the bank's shares tumbling to a new all time low, sliding more than 6% this morning to €10.70, as the company's default risk has soared higher and is now the widest name in the Markit iTraxx index.
Never mind that he’s talking about many who his university educated, including me. Any of you who question campus preoccupation with safe spaces, trigger warnings and microagressions are idiots and lunatics. That’s what Northwestern University President Morton Schapiro told new students this past week in his welcoming address.
"I think it’ll be a clown show, more than I’ll get a good bombshell out of it," said Ryan Porter of Columbus, 29, a financial adviser. It will be up to Trump and Hillary to prove him wrong, and - in the process - win.
When Dr. Lisa Bardack was asked to become Hillary Clinton’s personal physician in 2001, it had to have been a crowning moment in the career of the Mt. Kisco internist. Dr. Bardack could have anticipated little downside... Unfortunately, Hillary Clinton corrupts everyone who serves her.
Google Allo, the new “smart” chat app launched on Wednesday, is ‘dangerous’ and should be avoided, according to whistleblower Edward Snowden, because it will "record every message you ever send and make it available to police upon request."
There is nothing we can say to underscore the importance of tomorrow's debate that can come even close to Goldman's characterization of what is about to be unleashed in just over 24 hours, starting at 9pm on Monday. As Goldman's David Kostin put it on Friday, the "upcoming debate ranks as the biggest match-up since the Mayweather/Pacquiao bout"...
In 2015, President Obama told CNN that 99.9 Percent of Muslims Reject Radical Islam. He made the comments in response to a question about the White House avoiding using the phrase “Islamic terrorists.” Hillary Clinton says “Let’s be clear: Islam is not our adversary. Muslims are peaceful and tolerant people and have nothing whatsoever to do with terrorism.” Are they correct? Fundamentally, it may be fair to ask “Is religion in general the problem?”
According to the latest WaPo/ABC News poll, Hillary and Trump are set to meet for their first debate "in a virtual dead heat in the race for the White House." While likely voters are split 46% for Clinton vs. 44% for Trump, a sharp rebound for Trump in recent weeks, among registered voters, Clinton and Trump are tied at 41 percent, with Johnson at 7 percent and Stein at 2 percent.