Archive - Dec 1, 2014

• Moody’s Downgrades Japan’s Credit Rating (WSJ)
• China Factory Gauge Drops as Shutdowns Add to Slowdown (BBG)
• Euro zone factory growth stalls in November as new orders sink (Reuters)
• Espírito Santo Faces Money-Laundering Investigations (WSJ)
• Oil at $40 Possible as Market Transforms Caracas to Iran (BBG)
• Hong Kong warns protesters not to return after clashes close government HQ (Reuters)
• Bond Secrets Decoded 9,539 Miles From Wall Street in Lot (BBG)
• Ruble Rally Turns to Rout as Fortunes Tied to Sinking Oil (BBG)
• Loans Made in Blink as Banks, Funds Vie for LendingClub Clients (BBG)

1. Heightened uncertainty over the achievability of fiscal deficit reduction goals and containing debt
2. Economic growth policy uncertainties and challenges in ending deflation
3. Erosion of policy effectiveness and credibility could undermine debt affordability

Another day full of global macroeconomic disappointments is certain to send the S&P500 to all time-higherest records as 100,000 or so E-mini contracts exchange hands between central banks and Citadel's algos.