Today the answer to Volcker’s 1995 question, “Whatever became of M-1?” is likely to be: “It was once the fuel for the biggest asset bubble ever created by a central bank”.
"What we are seeing is relatively modest withdrawals from the central banks suddenly have broader consequences than the central banks have been anticipating."
To all those investors expecting the Fed to step in to backstop the recent weakness seen in the stock market, Wolf Richter warns:The cavalry isn't coming.
traders are attributing the move higher to comments by Trump's National Economic Council director Larry Kudlow who said that "markets shouldn't overreact to trade tensions."
Rick Rule, CEO of Sprott U.S. Holdings, and a commodity veteran who has been in the market for over 40 years, thinks a trade war could finally push gold over the $1,400/oz. level.
According to MS, all US-listed ETFs (Equities & Fixed Income) have seen over $6Bn of outflows over the past week, "so this feels much less like a rotation and much more like money being taken out of the market."
Rick Rule, CEO of Sprott U.S. Holdings Inc., who has been in the market for over 40 years, thinks a trade war could finally push gold over the $1,400/oz. level.
Global trade concerns and the "tech wreck" remained the focus as European markets reopened from Easter break, however the selling turmoil that sent the Dow tumbling as much as 700 points on Monday has eased off with S&P futures set for a gentle rebound.
"Should we be increasingly concerned about the fractious market mood triggering a stock crisis, a slide in global sentiment and the flat yield curve proving right about slowing economic activity? A global recession?"
"Stocks with high variable rate debt have recently lagged in response to the move in borrowing costs. These stocks should struggle if borrowing costs continue to climb."
"They can’t afford to raise their kids or send them to college without taking out a lot of student debt. It’s too expensive. People are getting married later in life and many don’t get married at all."
Devet Capital may be the world's cheapest hedge fund: the $115 million asset manager operates on an annual budget of only £66,000, and just as notably, one of its co-founders is a former Uruguayan model from Elite Model Agency.
It's a busy week for economic data, with Friday's payrolls average hourly earnings report on Friday taking the macroeconomic spotlight, in addition to ISM Mfg and Services reports, trade data, construction spending and March auto sales data earlier in the week.
Global markets started the new quarter with very muted trading in Asia as most key markets remain closed for Easter holidays. US stock futures are sliding lower as China officially strikes back to US trade wars.
