Equity Markets

Global Stocks Shake Off North Korea Jitters; Chinese Yuan Slides

Traders are eager to buy the latest dip, as US futures pared yesterday's losses before markets reopen after the Labor Day holiday, as global stocks looked to put any North Korean unpleasantries into the rear view mirror and assume another happy ending:

World Stocks Rebound, Dollar Rises As Korea Nuclear War Fears Recede

S&P futures are higher in early Wednesday trading, alongside Asian stocks and European bourses, both solidly in the green as the EURUSD drifts below the 1.20 "redline" while the dollar rebounds off a two and a half year low following the US "measured" response to North Korea’s missile test, which soothed jittery investors who now turn their focus to US economic data.

Bitcoin Soars To Record High $4,600

The prices of Bitcoin has exploded overnight, surging over 6% to a new record high above $4600 as demand from South Korea and Japan spurred more safe haven buying as gold and Treasury bond prices rose following North Korea's most provocative missile launch yet.

"Peak PEG" - The S&P Has Never, Ever Been This Expensive

"...only the Bond Bubble can justify the Equity Bubble. Meta-markets, where bubbles justify one another. A drunken man who drives home another drunken man. Prosaically, Equities' valuations are not as insane as bond valuations, but that does not make them cheap."