Bank of England

Why Socialism Is Dead

"..in this month, the 100th anniversary of Lenin's Bolshevik revolution in Russia, we can rejoice in the fact that socialism is dead. From a theoretical standpoint, it was never alive. It was a corpse from day one. It was sustained by rhetoric, not logic... If you want to visualize the future of socialism, think of Lenin's corpse in Lenin Square.."

Frontrunning: November 2

  • What We Know About the GOP Tax Bill Ahead of Today’s Rollout (BBG)
  • How the GOP Tax Plan Would Affect Trump, Clinton Voters Differently (WSJ)
  • Powell for Federal Reserve chair could support stocks bull market (Reuters)
  • The New Fed Chair Will Watch an Economy Fraught With Risks (BBG)
  • Trump calls for death penalty for Uzbek man (Reuters)

Traders On Hold As "Super Thursday" Looms

Yesterday's brief dip in ES has been promptly bought with US equity futures fractionally lower, Asian shares inching higher on Thursday and Europe unchanged ahead of today's Super Thursday, where we get the Republican tax bill revealed shortly before noon, the BoE's rate hike announcement, and Trump appointing Jay Powell as the next Fed chair, as well as as earnings from companies including Apple and Starbucks.

Bank Of England Preview: One-And-Done Or More To Come

Onto one of the main events this week, after the FOMC passed without a flutter and the BoE meet Thursday morning to deliver what many anticipate will be a 25bp hike to reverse the emergency move last summer.  As such, many are pondering whether this intended move - signalled pretty insistently in the prior 2 meetings - is a mere readjustment of the knee-jerk move last summer or whether this is the start of a tightening cycle. 

World Stocks Soar To New Record Highs As Oil, Metals Surge Ahead Of The Fed

US equity futures have hit a new all time high, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday.

GoldCore's picture

The UK economy is facing an unprecedented slow recovery, with growing levels of debt across the country and an ever-complicated divorce from the EU. The outlook for savers and investors is bleak as few have confidence left in the health of British finances. 

Key Events In The Coming Very Busy Week

With a full slate of central bank meetings, data (including payrolls Friday) and earnings next week there’s a little bit for everyone. On Thursday, according to Politico, we will also know who the next Fed Chair is as well as get a first look at a version of the House tax bill in the US, perhaps on Wednesday.

Frontrunning: October 30

  • Paul Manafort, Who Once Ran Trump Campaign, Told to Surrender (NYT)
  • Russia Probe Puts Focus on Washington Research Firm (WSJ)
  • Trump tax overhaul under intensifying fire as Congress readies bill (Reuters)
  • House Tax Writer Gives Ground on a State and Local Tax Break (BBG)
  • Work resumes normally in Catalonia as Spain enforces direct rule (Reuters)
  • Russia Wields Oil Diplomacy, Pushing In on U.S. Interests (NYT)

S&P Futures Slide After Chinese Stock And Bond Rout; Spain Rebounds, Dollar Drops

U.S. futures slid 0.2% as investors awaited a barrage of announcements including Wednesday's Fed decision, Friday's jobs report and, most importantly Trump's imminent announcement of who the next Fed chairman will be, although after the latest trial balloons, Jay Powell is now largely priced in, even as they kept a weary eye on the biggest Chinese stock and bond rout in months.