Auto Sales

"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..."

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.

How Harvey And Irma Will Slam The US Economy: A Complete Walk Thru From BofA

Hurricane Harvey may end being the most expensive natural disaster in history (Irma damages estimates are still not available). Expect to see the sharply negative impact from Harvey in upcoming economic data, including jobless claims, manufacturing and consumer data, and eventually , GDP. Here's the full walk thru.

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."

Palladium Suddenly Spikes To 16-Year Highs

Amid hope for reinvigorated auto production (after Hurricane Harvey's destruction) and yesterday's escalation in US-Russia tensions (Russia being the world's largest producer), spot Palladium is spiking today, hitting its highest since record highs in January 2001.