China

China

"Yesterday Was A Once-In-A-Decade Sort Of Day For The S&P 500"

"I certainly see parallels to 2007 – particularly in the way risk and hedging are discussed... the similarities of financial engineering between then and now – primarily a shift towards correlation and volatility trading – away from ‘directional’ trading and the advent of ‘low vol products’ designed to be leveraged..."

Frontrunning: September 12

  • Trump Plans Aggressive Road Show to Sell Tax Overhaul (BBG)
  • Trump to weigh more aggressive U.S. strategy on Iran (Reuters)
  • Florida Turns to Recovery as Irma Moves North (WSJ)
  • What to Expect at Apple’s Biggest Event in Years (BBG)
  • A $150 Billion Misfire: How Forecasters Got Irma Damage So Wrong (BBG)

World Stocks Hit Fresh Record High As Irma, Korea Rally Continues; Pounds Surges

World stocks hit new record highs on Tuesday amid a continuation of Monday's risk-on theme which unleashed a dramatic relief rally on easing North Korea tensions and signs that Hurricane Irma caused less damage than feared. The MSCI All-Country World Index gained 0.2%, hitting the highest on record with a fifth consecutive advance.

United Nations Unanimously Approves New Sanctions On North Korea

The United Nations Security Council unanimously adopted new, stepped-up sanctions on Monday afternoon against North Korea after the U.S. drastically watered down its original sanctions proposal in an attempt to win the endorsement of China and Russia.

Econophile's picture

Is Trump Irrelevant?

 Unless the press or Robert Mueller come up with a smoking gun, a dead body, and a cache of rubles, we can assume Donald Trump will be our president for a full four-year term. But Trump as President continues to sabotage himself. He risks becoming irrelevant because no one will take him seriously. Which might be a good thing.

The Most Important Paper Of The Next Decade

"Whenever I tell people the next big crisis will come from inflation, not deflation, the looks of disgust are worse than when someone says Justin Bieber’s music is not that bad... and I must admit, I have always had difficulty articulating how inflation would manifest... until now!"

Crackdown Begins: Chinese Banks Are Suspending North Korean Transactions

Japan's Kyodo reports that Chinese state banks have started suspending transactions through accounts held by North Koreans, making it nearly impossible to do business between the two countries.  At least three major state banks - Bank of China, China Construction Bank and Agricultural Bank of China - have banned North Koreans from opening accounts.

Key Events In The Coming Week: BOE, SNB, Inflation And Retail Sales

In a somewhat quieter week for economic news, this week's focus is on BoE and SNB policy meetings as well as on inflation releases in US, UK, China and others. Other releases of note include retail sales in the US, UK and China along with industrial production in US, Eurozone & China.

Frontrunning: September 11

  • U.S. Index Futures Rise as Irma Weakens, Korea Tensions Ease (BBG)
  • Irma Weakens as It Heads Past Tampa, Cutting Damage Forecast (BBG)
  • As Hurricane Irma heads toward Florida, U.S. military launches amphibious relief efforts in the Caribbean (WaPo)
  • Oil weakens on fears Irma could dent U.S. demand (Reuters)
  • ‘People are roaming like zombies.’ Virgin Islands stagger after storm passes (WaPo)