New York State

Frontrunning: November 22

  • Record highs for Wall Street quartet send other stocks higher (Reuters)
  • Oil prices rise to highest this month on hopes of OPEC deal (Reuters)
  • OPEC Likely to Reach Output Consensus, Delegate Says (WSJ)
  • Trump’s Targets in First 100 Days: Trade, Regulation, Corruption (BBG)
  • Trump Poised to Push Nafta Changes, Pressure Mexico on Trade (WSJ)

What Will Trump Do About The Fed, The Debt Ceiling, And Trade: His Key Economic Advisor Explains

David Malpass, Donald Trump's economic adviser who has been tasked with overseeing the transition for the Treasury Department and economic policy, addressed a group of economists and reporters in Washington discussing everything from the Fed, to the debt ceiling, to infrastructure spending, to NAFTA and Dodd-Frank, providing an insight in Trump's thinking on these key items. This is what he said.

New York Governor Unveils Hate-Crime Unit, Plans Taxpayer-Funded Defense Of Criminal Illegal Immigrants

It seems that even the Governor of the great state of New York is incapable of discerning 'real' from 'fake' news when it doesn't fit his narrative. Proclaiming that "if there is a move to deport immigrants then I say start with me," Andrew Cuomo appears to have missed Trump's proposal focused on ridding America of 'criminal illegal immigrants' and plans "to provide immigrants who can't afford their own defense the legal assistance they need.. because in New York, we believe in justice for all."

Empire Fed Rebounds But Employment Indicators Tumble, Optimism Declines

Manufacturing firms in New York State reported that business activity was essentially flat in November, with the general business conditions index climbed out of negative territory for the first time in four months, rising eight points to 1.5 above the expected -2.5. However, in a troubling sign, both employment indicators declined notably, while inventory levels hit a 4 year low, as optimism about the future posted a modest decline.

"Pre-Crime" Returns To America With New Airbnb Law

With stupidity like this so pervasive in government, it’s no wonder why the productive and entrepreneurial spirit is being crushed in the Land of the Free. When a broken system and out-of-touch political class make it more difficult for people to produce, prosperity suffers.

Key Events In The Coming Week

In the US focus will be on the market's reaction to the second presidential debate, FOMC Minutes but also retail sales, import and producer prices and Michigan sentiment. We also hear from various Fed speakers throughout the week, and Chair Yellen gives a keynote speech on Friday.

Frontrunning: October 7

  • Pound struggles to recover after plunging 6% in 2 minutes (FT)
  • Flash Crash of the Pound Baffles Traders With Algorithms Being Blamed (BBG)
  • Pound Plummets Against Dollar in Chaotic Trading (WSJ)
  • Two-Minute Mystery Pound Rout Puts Spotlight on Robot Trades (BBG)
  • U.S. nonfarm payroll job growth seen pushing case for Fed hikes (Reuters)
  • Qatar won't sell Deutsche Bank shares, might buy more (Reuters)

Frontrunning: October 6

  • Millions flee as Southeast U.S. braces for Hurricane Matthew (Reuters)
  • Hurricane Matthew Is a $15 Billion Threat Headed to Florida (BBG)
  • Three Risks to the Global Financial System as Debt Hits Record Levels (WSJ)
  • Deutsche Bank’s $14 Billion Scare (BBG)
  • Deutsche Bank Mismarked 37 Deals Like Paschi’s, Audit Says (BBG)
  • Monte Paschi Said to Plan Debt-Swap Deadline Before Italian Poll (BBG)