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The Central Bank Power Shift From West To East, Game Of Thrones Style

The Fed clings to status quo. Other central banks are vying to knock it down, or at least loosen its grip on them. But the Fed behaves as if it has no idea there are other powerful central banks that want to grab and harness its power. It carries on refusing to acknowledge that there may come a time, sooner rather than later, where its power is attacked. The ramifications of such an attack will impact the standing of the U.S. in the world.  The Fed can carry on being oblivious, but Game of Thrones illustrates the struggles playing out right now.

Futures Fail To Rebound As Deutsche Bank Tries To Comfort Markets That It Is "Fine"

After yesterday's "Hillary rally" in the US, the overnight's session has seen more risk-on sentiment as European stocks advanced, ignoring weakness in Asia as investors followed every twist of shares of beleaguered lender Deutsche Bank, whose CEO last night assured Bill readers that the bank is not seeking a bailout, which however was contradicted by a Zeit article this morning reporting that Germany may seek as much as s 25% "bailout" stake in a worst case scenario.

Elon Musk Reveals The Spaceship For Colonizing Mars - Live Feed

For those gathered today at the International Astronautical Conference in Guadalajara, Mexico, an animated video showing SpaceX's new rocket - known as "Big Falcon Rocket" - presented in the clip below, provides a sneak peek of Elon Musk's next ambitious initiativeL colonizing Mars.

Goldman Cuts Oil Price Target From $50 To $43 On Rising Global Surplus

While we await every new headline out of Algiers, overnight Goldman threw in the towel on its "transitory" oil market bullishness, and in a note by Damien Courvalin looking "Beyond Algiers, Weakening Oil Fundamentals", the bank cut its Q4 oil price target from $50 to $43, as the bank admits the previously anticipated rebalancing will take longer to achieve, and now expects "a global surplus of 400 kb/d in 4Q16 vs. a 300 kb/d draw previously."

"Hillary Rally" Fizzles As DB Hits New Record Low; Volkswagen Slammed; Oil Slides On Iran Statement

A rally in global risk that started during last night's first presidential debate on the market's take that Hillary came out on top fizzled, following news that the DOJ is assessing how big a criminal fine it can extract from Volkswagen (-3.8%) over emissions-cheating "without putting the German carmaker out of business", while Iran's oil minister Zanganeh told reporters Iran is ununwilling to freeze output at current levels. Deutsche Bank dropped to a new all time low while its default risk hit fresh record highs.

What A Commodity Trading Legend Is Buying Ahead Of The Next Crisis

When a commodity trading guru like Dwight Anderson, founder of the iconic Ospraie Management has something to say on the market outlook, people tend to listen, especially when he’s consigning the last great commodity bull run to the history books and buying gold and farmland for the next crisis.

Saudi Arabia Bails Out Banking System After Interbank Rates Hit 2009 Highs

Amid what some might call self-inflicted economic collapse, Saudi Arablia has announced a $5.3 billion bailout of its banking system as interbank borrowing rates near the highest since Lehman. In what the supposedly central bank calls "supportive monetary policy...on behalf of government entities," is easing liquidity constraints with 28-day repo agreements and is the second liquidty injection this year.

A Turning Point In The US Presidential Campaign. What Happened?

If Hillary Clinton’s illness had not materialized, someone would probably have had to have made one up for her. The Democratic presidential candidate’s dramatic drop in popularity just over the course of the last month has been attributed to her sudden health issues and pneumonia. Of course they’re claiming that Clinton will recover and that her extraordinary determination to keep fighting will make voters even more sympathetic to her. The biggest US media outlets are helping her spin that.

How Trump Wins The Debate

The winner of presidential debates is not the one who compiles the most debating points. It is the one whom the audience decides they like, and can be comfortable taking a chance on. Trump has the same imperative and same opportunity as JFK and Reagan. For the anticipated audience, of Super Bowl size, will be there to see him, not her.

Global Central Bank-Driven Stock Rally Fizzles; Crude Rebounds On Saudi Oil Production Cut Report

Until minutes ago, this week's rebound in global equities appeared to be running out of steam as oil retreated from a two-week high and a dollar slide ended.  However, as noted just around 6am, Reuters reported, citing as it usually does various "anonymous sources", that in a radical departure from its long-held policy of not cutting production, Saudi Arabia was prepared to cut production on condition that Iran freezes output, which led to an instant spike in crude.