Budget Deficit

Indian Economy Crashes As Modi's "Black Money" Theory Collapses

Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes. However, even more problematic is that Indians have validated 82% of bank notes rendered worthless by PM Modi, dramatically undermining the government’s estimate of unaccounted wealth in the economy.

How Russia Outsmarted OPEC

Russia, along with Iran, could turn into the big winner of the agreement, enjoying high output and higher prices, which would allow it to further expand its global market share. Unless, of course, OPEC lies, as former Saudi Oil Minister Ali al-Naimi plainly said this week. “Unfortunately,” he said, “we tend to cheat,” commenting on how OPEC handles its only tool of market rebalancing: production cuts.

Goldman Raises S&P Target To 2,400 On "Trump Hope"

"Hope" will dominate through 1Q 2017 as S&P 500 climbs by 9% to 2400 according to a just released revised forecast by Goldman Sachs. The firm adds that "instead of our baseline adjusted EPS growth of 5% to $123, growth could accelerate to 11% and reach $130, which would support a P/E multiple above 18x." However, Goldman warns that "Fear" is likely to pervade during 2H and S&P 500 will end 2017 at 2300, roughly 5% above the current level.

Aussie Housing Market Collapses: Building Approvals Crash 25%

Following September's 9.3% MoM plunge in Aussie home approvals, hopes were high that October would see a bounce (expectations were for a 2% gain) as central bankers jawboned confidence higher. However, it didn't... Building approvals collapsed 12.6% MoM and a shocking 24.9% year-over-year decline is equal to the worst drop since Lehman. Ironically, just this month Aussie Treasurer eased restrictions on foreign buyers (otherwise known as bag holders it would seem).

A Narrative For Every Season: Stocks, Before And After Trump

Following Donald Trump’s surprise victory and the violent market reactions, many investors are left scratching their heads. The consensus narrative warned that a Trump victory would spell doom for the markets. Days later, the narrative flipped and Trump’s economic policies, all of which were known prior to the election, are deemed beneficial for share prices.

What Will Trump Do About The Fed, The Debt Ceiling, And Trade: His Key Economic Advisor Explains

David Malpass, Donald Trump's economic adviser who has been tasked with overseeing the transition for the Treasury Department and economic policy, addressed a group of economists and reporters in Washington discussing everything from the Fed, to the debt ceiling, to infrastructure spending, to NAFTA and Dodd-Frank, providing an insight in Trump's thinking on these key items. This is what he said.

Saudi Arabia Warns Trump Not To Block Oil Imports

Saudi Arabia's first attempt at engaging with Donald Trump amounts to what is effectively a thinly veiled threat wrapped as a warning. As the FT reports, "Saudi Arabia has warned Donald Trump that the incoming US president will risk the health of his country’s economy if he acts on his election promises to block oil imports."