Morgan Stanley

Full Preview Of Today's "Historic" FOMC Meeting

In what may be one of Janet Yellen's last, and certainly her most difficult in recent history meetings, tomorrow the FOMC will not hike rates but will announce the start of its balance sheet normalization programme, while revising its economic projections and hinting whether the December meeting is "live" for one more 2017 rate hike. Here's what else to look forward to...

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

Could Market Complexity Trigger The Next Crash?

Just like in an avalanche, where various factors at the top of a mountain (accumulating volumes of snow, weather, temperature, geology, gravity, etc.) make up a complex system that is difficult to predict, markets are similarly complex... and prone to instantaneous collapse.

Offshore Drilling Giant Seadrill Files For Bankruptcy

Seadrill Ltd., the London-based offshore driller controlled by billionaire Norwegian shipping magnate John Fredriksen, filed bankruptcy protection in the Southern District of Texas after working out a deal with most of its senior lenders to inject $1 billion of new money into the company pursuant to a pre-arranged plan of reorganization.

Citi Warns Trading Revenue To Tumble 15% In Q3 Due To "Subdued Volatility"

Three months after its last such warning, Citi once again advised that its sales and trading revenue in Q3, which is ending in less than three weeks, will be down 15%, as the quarter "is lacking the volatility that pushed revenue higher in third quarter of 2016" underscoring as he did last quarter, that volatility remains “subdued."

Consumption Exhaustion

"Despite policymakers’ lack of regard for this burden, it is important to keep in mind that, as debt accumulates and consumers become less capable of repaying those debts, deleveraging ensues. This means that households will become unable to sustain the lifestyle to which they have become accustomed. Whether debts will be resolved through repayment or default, economic progress will falter."