BAC

The Cost Of Delusion - Asset Prices & Monetary Policy In An Irrational World

"The lesson for investors is that much of the picture presented today in prices for various assets classes is an illusion foisted upon us all by reckless central bankers. Yellen and her colleagues seem to think that they can spin straw into gold by manipulating markets and asset prices..."

Three Reasons Why Retail Sales Are About To Disappoint Bigly

Retail sales ex-autos, as measured by BAC aggregated credit and debit card data, declined 0.1% in August. Controlling for the increase in gasoline spending, retail sales ex-autos and gasoline declined 0.4%: the sharpest drop YTD, and it's not just Hurricane Harvey's fault...

"From Nukes To Terrorism": Battered Investors Flee Risk For Safety Of Bonds And Gold

"In a week where we started by worrying about nuclear war, markets have quickly moved on from this, with yesterday's weak session more of a response to fears that Mr Trump's strategy for the economy and business is falling apart and later the terrible terrorist attack in Barcelona," is how DB's Jim Reid summarized the week's psychedelic events.

Key Events In The Coming Week: French Election, Earnings, Manufacturing, Housing

This week will be dominated by the first round of the French presidential election on Sunday. On the data side, following China's strong economic report, attention will focus on US industrial production growth on Tuesday. In the euro area, flash PMIs for April due on Friday could point to moderation. This is also the first full corporate earnings week.