Reuters

The Situation In Syria Is Very, Very Dangerous

If full fledged war breaks out with Russia, it’s very likely to begin in Syria. The only good news here is we doubt Obama will begin any major escalation with only a few months left in his Presidency. The bad news is that if Hillary Clinton is elected President, all hell is likely to break loose in short order.

Frontrunning: September 30

  • Asia stocks slide as Deutsche sours mood, oil pulls back (Reuters)
  • Deutsche Bank Drops to Record as Some Clients Reduce Exposure (BBG)
  • Deutsche CEO tries to reassure staff as shares plunge (Reuters)
  • Oil falls as investors cash in on OPEC deal rally, dollar rises (Reuters)
  • Three Chinese fishermen killed in confrontation with South Korea coastguard (Reuters)

Will The ECB Buy Stocks?

With The SNB and BOJ already neck deep in their equity-buying experimentation, and even Janet Yellen hinting at it for The Fed, the most pressing question on most liquidity-hunting central-planer-watchers is - when will Draghi start buying stocks? The short answer, from ABN AMRO, is ECB equity purchases are unlikely in the near term.. and even so, The ECB would be increasing the risk on its balance sheet for uncertain, and at best modest gains in economic growth and inflation.

Yellen Says Fed Buying Stocks Is "A Good Thing To Think About" And Could Help In A Downturn

Having hinted overnight that The Fed could buy stocks "maybe in the future," Janet Yellen blurted out confirmation that buying assets other than long-term U.S. debt is on the table. Despite the total and utter failure of SNB and BOJ direct equity buying to create increased consumption, Yellen explained "it could be useful to be able to intervene directly in assets where the prices have a more direct link to spending decisions."

Saudi Arabia Reacts To Sept. 11 Bill Veto Override

While so far there has been nothing but a stony silence from Riyadh, some Saudis have bristled, saying the kingdom should curb business and security ties in response. "What would happen if Saudi Arabia froze its cooperation with the United States with regards to counter-terrorism as a response to JASTA?"

Iraq Revolts, Says "We Cannot Accept" OPEC Deal In This Form

"These figures do not represent our actual production," Iraq's oil minister Luaibi told reporters. If by November estimates do not change, "then we say we cannot accept this, and we will ask for alternatives". Luaibi went even further and asked a reporter from Argus Media - whose data OPEC uses among other sources to compile estimates of countries' production - to disclose from where Argus' estimates were coming. "Your sources are not acceptable."

Outflows From Active Funds Surpass A Record $200 Billion

Over the last several years, we have observed an accelerating trend of flows out of active funds and into passive vehicles. Price sensitivity of investors to fees, coupled with poor performance trends, have conspired against active funds, and year-to-date flows out of active have reached a post-crisis high. As of this moment, the outflows from active funds have surpassed $200 billion: an all time high.

Watch Live As Wells CEO John Stumpf Gets Grilled On The Hill Again: Five Things To Look For

Wells Fargo embattled CEO John Stumpf returns to Capitol Hill for the second time in 10 days, for a contentious hearing with the House Financial Services committee. Despite Stumpf's belated clawback of $41 million in unvested stock, which took place only after tremendous congressional and populist outrage, his job remains very much under threat.