"...we are likely living in the greatest age of 'societal upscaling' the world has ever known, so it is no surprise that inequality is a major topic of interest... It may be small comfort that all this is 'natural'... But it is important to remember that it is."
"Without question, Powell will find the break point. Moreover, when the next great liquidity crisis hits it won’t be a failing of free market capitalism. It’ll be the failing of the central planners and the system they wrought."
Traders are scratching their heads over the latest flash crash in the pound, a currency which over the past 2 years has had more than its share of bizarre, sharp moves lower, when just as 6am ET, GBPUSD plunged 64 pips in seconds on no news.
US equity futures seemed to forget Thursday's pitiful close and spiked ahead of the European open, only to fade most of the gains: the E-mini was up +7 at last check, but back to bottom of overnight range, as European equity markets led lower.