Many ill-informed pundits have taken the recent absence of volatility to mean that it is gone for good. But many smart investors, like Tepper and Gundlach and Druckenmiller, who are paid to protect their clients’ money against large drawdowns are forgoing returns today in order to protect against an anticipated pickup in extreme events in the future.
Russia's "largest surface deployment since the end of the Cold War" was not shy about being photographed as it crossed the English Channel and the Admiral Kuznetsov carrier, and Peter the Great, a Kirov class battlecruiser, were among the ships filmed off Ramsgate, Kent. The Russian vessels were being shadowed by the Royal Navy, and were marked "every inch of the way."
Pressed by moderator Chris Wallace as to whether he would accept defeat should Hillary Clinton win the election, Donald Trump replied, “I will tell you at the time. I’ll keep you in suspense.” But what do these chattering classes and establishment bulletin boards think the Donald is going to do if he falls short of 270 electoral votes? What explains the hysteria of the establishment? In a word, fear.
"We refugees... do not want to live in the same country with you. You can, and I think you should, leave Germany. And please take Saxony and the Alternative for Germany (AfD) with you... Why do you not go to another country? We are sick of you!" - Aras Bacho an 18-year-old Syrian migrant
Of course, this being Europe, the crash was quickly spun as a positive. ESA Director David Parker said it's what they wanted from a test. "We have data coming back that allows us to fully understand the steps that did occur, and why the soft landing did not occur," he said.
"Picking winners" was never a good idea for policymakers - no matter what the economics textbooks say - and now the 'market' has given the ECB a big headache. Draghi's corporate-bond-buying scheme has backfired as the European Central Bank finds itself holding junk bonds in its so-called 'stimulus' plan after K+S AG was downgraded by S&P (sending its price plunging).
What was supposed to be a temporary internet outage, after an attack "of unknown origin" on DNS service provide DYN took down much of the internet in the North East, appears to have returned, and moments ago DYN announced that it was once again experiencing the same "attack" as this morning.
Most of the worlds largest exporters are facing declining domestic populations (0-64yr/olds) and demand. But now these exporters are also facing the prospect of declining global demand as the core population among the world's primary importers is set to peak.
In what can only be described as an epic attempt to troll both Obama and Hillary, and an apparent move to embarrass the United States over Trump's claims of that the upcoming presidential election will be "rigged", Russia has asked to send monitors to US polling stations for the Nov. 8 vote, according to reports by Russian media.
With 'trade' at the center of any substantive differences between US presidential candidates, 1000s protesting 'trade' deals across Europe, 'trade' collapsing in China, and lame-duck Obama trying to push his 'trade' agenda, it is perhaps shocking that Canada’s trade minister walked out of talks to finalize a trade pact with the European Union, saying it now seems the bloc is incapable of reaching such agreements and that Canadian officials are returning home.
The International Monetary Fund (I.M.F.) was unsuccessful in covering up its nefarious activities in Greece, as WikiLeaks uncovered back in April. Later, the I.M.F.’s internal watchdog team released a report condemning the I.M.F.’s actions.