European Central Bank

US Futures, Global Stocks Mixed After Lackluster Chinese Economic Data; Oil Rises Over $51

US futures were little changed, with European shares lower, and Asian stocks higher as caution returned after last night's Chinese economic data did little to clear up how the world's second largest economy is performing, and provided few positives for investors ahead of the third and final U.S. presidential debate; imminent announcements from both the ECB and the Fed also will keep traders on their toes today.

Ganging Up On Gold

Gold remains the asset Wall Street loves to hate. It is currently under pressure due to the recent increase in rate hike odds and there was definitely a need for stale long positions to be cleared out. When we see the mainstream gang up on gold so quickly though, we tend doubt that the bears will be correct. Of course we have no crystal ball either, but we remain convinced that the monetary experiments of recent years will end quite badly.

Frontrunning: October 17

  • Bonds Selloff Spreads on Inflation Concern; Stocks Fall With Oil (BBG)
  • Trump charges U.S. election results being rigged 'at many polling places'  (Reuters)
  • CNN’s Stelter Blames Firebombing of NC Republican Office on Trump's 'Over Heated' Rhetoric (Newsbusters)
  • Britain, France seek EU condemnation of Russia over Syria (Reuters)
  • Inside the Secret Society of Wall Street's Top In-House Lawyers (BBG)

IceCap's Keith Decker Lists Three Scary Movies: "Jaws", "The Shining" And "The Rise Of Interest Rates"

When this crisis accelerates, investors will run away from the bond market and seek safety in stocks, USD currency and gold. It will be a scene, unlike any you’ve seen before and understanding why it will happen and having the correct investment strategies will not only make you happy and calm – it will also make you the star at dinner parties. And when others ask you how did you know, you begin with the least talked about factor in the investment world – interest rates.

A Mile-High House Of Cards

The mass media and establishment economists don’t dare call it a depression. But a depression it is.