Mexico

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.

Are You "Living In A Death Spiral"? These 6 States Will Collapse During The Next Recession

Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.

Goldman Appoints Harvey Schwartz, David Solomon As Co-COO Replacements For Gary Cohn

As the WSJ reported last night, this morning Goldman Sachs confirmed it has promoted Chief Financial Officer Harvey Schwartz and investment-bank co-head David Solomon to the role of co-COOs and co-presidents to replace Gary Cohn, who’s leaving to take a job in the Trump administration, and said Martin Chavez will succeed Schwartz as CFO.

Only One Step Away From A Global Trade War

Isolated trade-war hot spots that are starting to smolder in different parts of the world could quickly converge into a single major, global, trade-war conflagration.

Beware "Extreme Volatility" Ahead Of Quad-Witching Friday: BMO

Quadruple witching weeks tend to be extremely volatile as large derivative positions are rolled over. Since 1990 the average weekly spread between the high and low for the S&P 500 during December quadruple witching weeks is 2.98%. Using Friday’s closing data, this would result in a potential range of 2326 on the high side and 2189 on the low side for the S&P 500 this week.

Trump Reignites China Diplomatic Spat, Says Not Bound By "One China" Policy

"I fully understand the 'one China' policy, but I don't know why we have to be bound by a 'one China' policy unless we make a deal with China having to do with other things, including trade. We're being hurt very badly by China with devaluation, with taxing us heavy at the borders when we don't tax them, with building a massive fortress in the middle of the South China Sea."