With investment bank traders on record for spoofing gold and silver futures prices, why are regulators not investigating these same traders for manipulation of the London Gold and Silver Fixings?
It's only logical that one day after Trump accused China (and Russia) of playing the "currency devaluation game" in a time of rising Fed rates, that Beijing would respond by doing precisely what it was accused of.
US equity futures continued their Monday ramp, rising 0.5% alongside advancing stocks in Europe after investor focus shifted to earnings and the economic outlook, and away from fading geopolitical and trade war risks.
"The advent of Trump has exacerbated the three driving core elements of debt, civic decay and global disorder... The vitriol, hate, and animosity engulfing the country is reminiscent of the years leading up to the Civil War."
The key economic releases this week are retail sales on Monday and industrial production on Tuesday. In addition, there are numerous scheduled speaking engagements by Fed officials this week.
Overall, a good quarter if nothing spectacular for BofA, which like all other banks benefited from the surge in vol, which helped boost equity trading revenue to record highs, even as FICC and i-Banking declined sharply.
ECB has asked that Deutsche Bank simulate what a "crisis scenario" would look like, and what it would cost to complete a "resolution", i.e. wind-down, of its own investment banking division.
"If the U.S. does jump into a hot trade war it could find itself needing to make up for the costs. The logical place to turn is to the beacon of more money creation from the Fed or to issue more debt."
"Far from deflation, the Fed’s only response to the next credit crisis will be to take measures that will lead to the final destruction of the dollar. Other central banks are set to follow. Deflationists don’t have a leg to stand on..."
"You’d think we’d learn something. Brzezinski did. Just before he died he said his life-long plan to destroy Russia, culminating in WWIII by cutting off the Ukraine with the New Charge of the Light Brigade was a complete failure."
... the memo included an implicit threat that, once caught leaking by Apple, employees would find it "very difficult" to secure another job, potentially destroying their livelihood in the process...
"Low vol is gone and this changes everything: We recommended starting to invest in convexity, as the window for pricing to catch up, or overshoot, is likely to be small."
