China

China

Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins

World stocks stayed near peaks and currencies moved in tight ranges on Wednesday as China’s 19th Communist Party Congress opened while focus in Europe turned to speeches from top euro zone central bankers before next week’s key policy meeting, as well as Catalonia's ultimatum due on Thursday.

Xi Jinping's Speech: "Housing Is For Living Rather Than Speculation"

Xi Jinping delivered a three and a half-hour speech at the opening of China’s 19th Party Congress, the once in five years mega-Communist Party gathering, to herald a ‘new era’ of power, consolidating his position as perhaps the most influential Chinese leader in decades. While he did lay out  guidelines to develop China in this ‘new era’, bottom line: Heavy in superlatives, light on specifics.

Washington: The Bleeder Of The 'Free World'?

"This is not the idealized conduct of the self-proclaimed 'leader of the free world'. America is increasingly seen as the 'bleeder' – a declining power which wants to suck the economic lifeblood from others in order to sustain itself. .."

What Goldbugs Have Been Waiting For: Goldman’s New Primer On Gold

"We believe that precious metals remain a relevant asset n class in modern portfolios, despite their lack of yield. They are neither a historic accident or a relic. Indeed, by looking at each of the physical properties of an ideal long-term store of value, we can clearly see why precious metals were initially adopted and why they remain relevant today." - Goldman Sachs

Yes, Robot Lawyers Are Now A Thing

In China, where artificial intelligence (AI) is gradually being integrated into the court system, the latest development is a robot that helps litigants with legal advice.

The 'Winners Of The New World' Redux

"This sort of 'it doesn’t matter what you pay for an asset' is the type of thinking that prevails at tops. The idea of a new paradigm also permeates market participants’ thinking..."

Globalization Is Poverty: "The Endgame Is Painfully Obvious"

"The world’s central bankers’ club is set to get new leadership soon... but there is no sign that the economic religions they adhere to will be replaced, it’ll be centralization all the way, and if that fails, more centralization...The endgame of that process is painfully obvious way in advance."

Import & Export Prices Jump As Fuel Costs Spike

Both import and export prices beat expectations in September rising 2.7% and 2.9% YoY respectively. Petroelum import costs soared 4.5% MoM (and up 20.1% YoY) and Industrial Supplies export prices jumped 3.0% MoM driving the resurgence in import and export prices.

Critical Threats To 2017's Bull Market - Part 1: Macro View

While the idea that anything could go wrong in global stock markets (especially US markets) is simply incomprehensible to most, here are a few of the more prescient 'known unknowns' that could hamper the meltup for the rest of the year...