Global Economy

"Sorry, Not Sorry" - Neither The Media Nor Their Owners Are Going To Change

The essence of American politics is “the manipulation of populism by elitism.” Don’t expect this to change in the wake of the navel-gazing mainstream’s historic whiff on the election–despite the occasional mea culpa and promise to overhaul its approach. Mostly because 90 percent of the MSM is owned and operated by six conglomerates that have little interest in changing the system that profits them, or in changing the editorial narratives that support the system.

Central Banker Sees "Scary" 2017

Q. When you look ahead to 2017, what keeps you awake at night?
A
. Short term, the Fed rate hikes. Medium-to-long term, the retreat from multi-lateralism related to the performance of the global economy - the major and various economies, and emerging markets like China.

Weekend Reading: Copious Cognitions

If this market rally seems eerily familiar, it’s because it is. In fact, the backdrop of the rally reminds me much of what was happening in 1999...

Mexican Central Bank Hikes Overnight Rate To 5.75%, More Than Expected: Peso Spikes

Moments ago Banxico surprised market watchers who had expected a mere 25 bps hike from 5.25% to 5.50% in the overnight rate, by doubling the tightening, and setting the overnight rate at 5.75%. The immediate result has been a spike in the Mexican Peso, which is trying to offset all the losses suffered after the Fed announcement.

China Halts Trading In Bond Futures After Record Bond Market Crash

Chinese authorities halted trading in key bond futures for the first time on Thursday, as panicky investors sold the securities on concern that a long, credit-fueled bull market was coming to an end amid slowing growth, capital outflows and heightened government concern about asset bubbles.