One day after a slump in Chinese trade sparked a global market selloff on concerns the world's second biggest economy had once again hit a downward inflection point, overnight China surprised once again, this time to the upside when the latest inflationary data printed hotter than expected, sending European and Asian stocks higher and pushing the yen lower after China’s producer price index rose for the first time since March 2012.
In recent months, more and more people are asking us whether it is safe to travel to Europe. These fears are understandable, given the media coverage of the tragic events that occurred this year. The press painted a sinister and truly graphic picture of Europe as a war zone, as a target of global terrorism. Let’s put these fears into perspective and test the argument on “media correctness”.
Bill Gates once famously said that we systematically overestimate the change that will occur in two years, while underestimating the change that will come in the next ten. As Visual Capitalist's Jeff Desjardins notes, the ongoing conversation about the death of legacy media definitely fits that mold.
"The bottom line is to always remember that the media is not your friend in any way, shape or form, even if its lowest tier operatives fit the description of hapless victims rather than nation-wrecking enemies. The media must be opposed, exposed and boycotted at every turn until it starts bleeding money and choking on its own venom."
"There are a range of responses that are available to the president and he will consider a response that is proportional," White House spokesman Josh Earnest told reporters on Air Force One. "It is certainly possible that the president can choose response options that we never announce."
1. In a world of manic factor crowding via the exponential growth of cheap passive index and smart beta products, get ready for the class-action lawsuits in a future-state. And: 2. this is BEYOND GOLD as an example of “tail wagging dog” / “echo chamber” / “feedback loop amplification” from the market structure shift experienced within the industry over the past 10+ years.
Turkey and Russia signed the strategic Turkish Stream gas pipeline agreement on Monday. The pipeline will carry Russian natural gas to Turkey and on to Europe under the Black Sea. Moscow and Ankara are also moving forward with plans to create a major energy hub in Turkey, Putin said at the press conference following the signing of the agreement.
It's probably nothing but... Saudi banking stocks have been halved in the last year and crashed to their lowest level since the March 2009 lows. Middle East stock markets began the week with a big downturn as China comes back from its Golden Week holiday...
An airstrike carried out by Saudi-led coalition warplanes targeting a funeral ceremony in the Yemen capital of Sanaa has killed at least 82 and injured more than 534 people, news agencies report, citing local officials. Hundreds of body parts were found inside and outside the hall after the strike.
Despite proclamations from various officials, business leaders, and mainstream media pundits that Deutsche Bank's demise was: a) driven by speculators, b) not driven by any need for liquidity, because c) the bank has plenty of capital... it doesn't. As Bloomberg reports, no matter how much the DoJ fine is watered-down (don't expect much), the most systemically dangerous bank in the world is holding informal talks with securities firms to explore options including raising capital; but while the lender has several options, as one analyst noted rather awkwardly, "they’re all unattractive."
No US Presidential candidate since William McKinley in 1896 has received as nearly-unanimous financial backing from America’s wealthiest 0.01% as Hillary Clinton. What William Jennings Bryan was to them in 1896, is what Donald John Trump is to them 120 years later in 2016.
Deutsche Bank suffered a further blow to its image over the weekend with a third alleged "IT outage" in the space of a few months on Saturday, that prevented some customers getting access to their money for a short time: "Customers can not access their cash because it is blocked", a customer complained to Germany's Handelsblatt.