From both a political and economic perspective, the terrorists could hardly have chosen a more vulnerable moment to strike, with Europe wearied by years of crisis, paralysed by political indecision and shipwrecked by incompetent policy.
If The Economy Is Fine, Why Are So Many Hedge Funds, Energy Companies And Large Retailers Imploding?Submitted by Tyler Durden on 11/19/2015 09:12 -0500
If the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession? In 2008, stocks didn’t crash until well after the U.S. economy as a whole started crashing, and the same thing is apparently happening this time around as well.
- Soothing Fed sounds send shares, emerging markets higher (Reuters)
- Belgian Police Conduct Raids in Connection With Paris Attacks (WSJ)
- The Paris Attacks Can’t Lead to a Closed Europe (BBG)
- Alleged Mastermind of Paris Attacks Was ‘Emir of War’ (WSJ)
- U.S. Eyes Russia-Iran Split in Bid to End Syria Conflict (WSJ)
- Despite tensions, Asia-Pacific nations close ranks against terrorism (Reuters)
While it is still unclear just why the FOMC Minutes which are said to have made a December liftoff "more likely" unleashed a dramatic market rally, one which sent both stocks and TSYs higher, the sentiment continued overnight, with both Asian stocks surging on the US momentum, as well as Europe, where the DAX gapped solidly above the 200 DMA as most European shares advanced, led by resources, travel stocks. U.S. futures continue their ramp higher, and at last check were another 8 points, or 0.4%, in the green. But if the Fed Minutes were enough to unleash the latest leg in this rally, than the ECB's own minutes due also today, should send futures back over 2100 without much difficult, regardless of their actual content.
If having to slash valuations by 30% from the latest private financing round was not bad enough, Square's IPO just priced notably below the expected (already lowered) range of $11-13 (and even further below the $15.46 at which it raised private money last year):
*SQUARE SAID TO PRICE 27M IPO SHARES AT $9 EACH, REUTERS REPORTS
So from a private valuation around $6 billion to this, and along with Fidelity marking down its SnapChat valuation, it appears that without another massacre in a major city, risk appetite for these paper-behemoths may have gone the way of the mythical unicorn itself.
According to Reuters, the suspects targeted in a pre-dawn raid in France were planning to attack the Quatre Temps on Thursday, the busiest mall in France located in the business district at La Defense. Meanwhile, WaPo, citing European intelligence officials, says Abdelhamid Abaaoud was killed in Wednesday's operation.
"If You Get Enquiries Just Obfuscate And Stonewall" - How Barclays Rigged The FX Market For Seven YearsSubmitted by Tyler Durden on 11/18/2015 12:28 -0500
“Do not involve Sales in anyway [sic] whatsoever. In fact avoid mentioning the existence of the whole BATS Last Look functionality. If you get enquiries just obfuscate and stonewall.... for the future, sales absolutely 100% do not know about the existence of last look and it shouldn’t be a concern for them... IF any client does call up about a rejected trade . . . it is important that you state in any communication ‘THE TRADE WAS REJECTED BECAUSE OF LATENCY.’ . . . DO NOT talk about P&L on trades."
Editors Note: GoldCore believe that blockchain technology will revolutionise the world of finance, payments and money and may have an impact on the world on a scale of that of the internet. If you thought the “internet” was disruptive, well you ain't seen nothing yet ... the blockchain cometh!
"I am now reasonably satisfied the market situation has settled down... So I am comfortable with moving off zero soon..."
- Security jitters drive European investors back to safe havens (Reuters)
- Global Anti-ISIS Alliance Begins to Emerge (WSJ)
- Merkel says cancelling soccer match was 'responsible' decision (Reuters)
- Paris attacker may have had accomplice on journey through Balkans (Reuters)
- Drop Assad demands if you want to unite against Islamic State: Russia to West (Reuters)
- Putin sets up commission to combat terrorism financing (Reuters)
Observing a moment of silence for the victims of last Friday's massacre in the streets of Paris has become something of a global phenomenon at everything from sporting events to stock exchanges and generally speaking, everyone has been outwardly happy to oblige. Well, not Turkish soccer fans...
"The Chinese government has the right and the ability to recover the islands and reefs illegally occupied by neighboring countries"...
Editor’s Note: Last week gold price fell to 5 year lows and weakness again saw canny buyers accumulate on the dip. Sales of U.S. Mint gold coins jumped the most in nearly three months. The 2015 $10 American Gold Eagles actually sold out.
- France, Russia strike Islamic State in Syria, EU aid invoked (Reuters)
- Pressure Grows for Global Response Against Islamic State After Paris Attacks (WSJ)
- Weakened Hollande Faces Election Backlash in Wake of Attacks (BBG)
- French Official Calls for Metal Detectors at Train Stations (NYT)
- Belgium Raises Terror Threat Level, Cancels Soccer Game vs Spain (BBG)
- Foreign Companies Scrap Paris Events After Terror Attacks (BBG)