Gold prices closed on Obama's inauguration day at $857.25 per ounce. Exactly 12 months later on January 20th, 2010, gold had risen to $1,111.05/oz for a gain of nearly 30% in the first year after Obama’s inauguration.
"The Open Society Foundations will continue to work in Hungary despite government opposition to our mission of fairer, accountable societies... In Hungary and around the world we are more focused than ever on working with local groups to strengthen democratic practice, rights, and justice."
Hungary will use "all the tools at its disposal" to “sweep out” NGOs funded by George Soros, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday.
While China's unprecedented currency moves have quickly become the main talking point across global markets which otherwise have started off 2017 in an eerily calm fashion, it is the sudden surge in two-way volatility that has emerged a major threat to global market stability.
Slowly but surely, Trump is dismantling the massively overpriced market, one stock at a time, and after taking a detour into the world of FX earlier when he slamming the Peso for the second time this week when he warned Toyota not to build a planta in Baja, Mexico, moments ago Time Warner slumped on Bloomberg news that Trump has told a confidant that he still opposes the AT&T- TIme Warner deal.
It was a night of painful fireworks for China bears, who experienced the overnight offshore Yuan deposit hitting a record 80%, while the USDCNH tumbled as low as 6.78, resulting in a 2.3% move in 2-days: the biggest such jump in the CNH on record.
Even with the recovery in conventional oil and gas looking positive in 2017, the lack of major capital investment in oil sands that has become the norm in the past decade will be painful with no relief in sight.
If you think you’re hearing a wee bit of a mixed message emanating from households and businesses, you’re not losing your marbles. If the stars don’t align perfectly, if the sequel doesn’t best the original, smaller investors might want to wise up to the fact that they’re being hustled by the equivalent of professional gamblers.
IMF Managing Director Christine Lagarde was found guilty of one count of negligence by a French court today, according to Bloomberg News. She was accused of failing to prevent a massive government payout to businessman Bernard Tapie eight years ago, while serving as France’s finance minister, but most surprising, she will face no fine or jail sentence.
"If rate normalization happens in a steady and more predictable approach, the economy can incorporate this change in rates and psychology and make investment decisions based on the best allocation of capital to productive sources versus riding the asset bubble being generated by the easy-money policies around the globe."
Global bond yields and the dollar both weakened after the Bank of Japan offered to buy an unlimited amount of debt at fixed yields, stabilizing the global bond rout, while investors awaited testimony from Fed Chair Janet Yellen that will help shape the outlook for interest rates ahead of a December rate hike that is now seen as near certain.
Assets under management at Crispin Odey’s flagship European hedge fund have plunged 60% this year after clients demanded their money back as the theta on his bearish bets burns, and as yet one more manager fought the central banks... and lost.
As a result of this projected decline in EPS, Apple is expected to be the largest detractor to expected earnings growth for the S&P 500 Information Technology sector for Q3 2016. The blended earnings growth rate for the Information Technology sector is 4.2%. Excluding Apple, the blended earnings growth rate for the sector would improve to 10.9%.