Since the closing of Goldman's acquisition of GE Capital's banking unit this April, Goldman has netted $1.8 billion in new deposits thanks to its overly generous 1.05% interest rate which as noted above is among the highest on offer anywhere. Some 33,000 people who’ve opened accounts,
"Without an external economic shock it is hard to see policymakers being prepared to take dramatic, fiscal action to jumpstart the global economy... Ironically the shock that is needed would require a collapse in risk assets for policymakers to then really panic and attempt dramatic fiscal stimulus."
With the BOJ already a top-five owner of 81 companies in Japan’s Nikkei 225 Stock Average, the BOJ is on course to become the No. 1 shareholder in 55 of those firms by the end of next year. Just as insane, the central bank owned about 60% of Japan’s domestic ETFs at the end of June. This is up from just over half as of a few months ago suggesting that the BOJ is gobbling up equities at an unprecedented pace.
A review of conference call transcripts of 50 companies, accounting for over 30% of the market cap of the S&P 500, revealed a cautious consumer, contracting margins and CEO fears over the impact of a strengthening USD and Brexit fallout... exactly what The Fed's Jim Bullard just said was not a problem.
"I don’t think what Donald Trump says is worse than actually what Hillary Clinton in fact has done... Trump lies are mostly garbled, stream-of-consciousness word salad. HRC lies are lawyerly, meticulous, calculated, and brazen."
Today the London Metal Exchange (LME) and the World Gold Council (WGC) jointly announced the launch next year of standardised gold and silver spot and futures contracts which will trade on the LME’s electronic platform LMESelect, will clear on the LME central clearing platform LME Clear, and that will be settled ‘loco London’. Together these new products will be known as ‘LMEprecious.’