Donald Trump's election as next US president has given the gold price a short-term 'uncertainty' trading boost. However, Trump's keen interest in the gold standard is a trend worth watching over the next 4 years.
As it dawned on markets that they had been caught dead wrong for the second time in half a year, first with Brexit and then with the historic election of Donald Trump, their reaction was identical: a slow selloff at first, followed by a furious dump, which led to a limit down halt in NASDAQ and Emini future trading. However, turbulence calmed as investors reassessed the effects of Donald Trump’s surprise victory in the U.S. presidential election.
The defendant was “so morally corrupted by pornography, drugs and alcohol, and a general life of debauchery with a huge salary to fund his depravity,” judge Stuart-Moore said. Jutting was considered “a high risk person” and “the repetition of the offence of murder is highly likely if he is given his liberty in the future,” he said.
The day has finally arrived and as of minutes ago voters in eastern states have begun voting for the next US president. Polls are open in eight states, including battlegrounds Virginia and New Hampshire, as well as in New York, where Clinton votes at a public school in Chappaqua, Trump at a public school in Manhattan.
In a stark and unexpected development, one which could have significant consequences for the future of China's economic reform push, on Monday Beijing unexpectedly removed Lou Jiwei, its highest-profile finance minister in years. His removal raises questions about whether reform-minded officials are being sidelined as Beijing prioritizes short-term growth over major overhauls.
US Index futures, together with European and Asian shares surged after the FBI cleared Hillary Clinton one last time of her handling of emails as secretary of state which it repeated wasn’t a crime. Oil, gas rise, together with most industrial metals; the yen and Swiss franc retreated with gold, silver and other flight to safety assets.
"This is much like a Bernie Madoff scheme, if you ask me," said Dallas mayor Miek Rawling discussing the collapse of the local Dallas Police and Fire Pension Fund. The Dallas pension board wants the city to contribute $1.1. billion in 2018, but to do that, they would have to increase the property tax rate by 130%.
"We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck... But, there is no mechanism forcing it to alter its models when they don’t appear to work."
“Firms that cross bonds may open themselves up to questions on best execution, transparency and fair prices for clients. Cross trading can present a conflict of interest since it can favor one client to the detriment of the other.”
Asian stocks, S&P futures and European shares trade flat as a tightening race for the U.S. presidency spurs demand for haven assets including the yen while weighing on stocks and Mexico’s peso. A turbulent overnight session saw some early risk off following the plunge in Facebook shares and the Fox News report that an FBI probe into the Clinton foundation may lead to a "likely indictment."
In a letter to investors, Elliott Management execs warned that a rapid inflation is the $30 billion hedge fund's biggest concern in the current environment, and that such a spike would not only collapse bond prices, but potentially lead to a stock market crash.
There was only one officer for every 10 enlisted men when the U.S. won World War II. Now there are twice as many officers and four times as many generals – and we haven’t won a war since. As President Reagan’s chief budget advisor David Stockman foresaw 30 years ago: we are seeing the final “triumph of politics.” The elections are just a sideshow.
"And so the ECB is stuck, as it has been since 2012, between an unfavourable equilibrium of low growth, high unemployment and zero reform momentum on the one hand, and growing risks to core country balance sheets on the other. It remains to be seen how it will escape from this dilemma of its own making."