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[Bloomberg] Euro Drops; ECB Says Smaller Monthly Asset Buys Not Tapering [Reuters] Major stock indexes rise again to new records [Reuters] U.S. household net worth rose to $90.2 trillion in the third-quarter: Fed [CNBC] Market indicator hits extreme levels last seen before plunges in 1929, 2000 and 2008 [Bloomberg] ECB Expands Stimulus to $2.4 Trillion […]
About this week’s show: India cash confiscation creates desperate plea for currency and gold ITALIEXIT: Establishment thrown out now in Italy’s own form of Brexit Goldman says stock market now at 98 percentile valuation (overvaluation?) The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick “I hear of Trump’s desire to spend trillions and replace […]
[Bloomberg] Banks Lead Stock Rally as Bonds Gain With Hopes Pinned on Draghi [Bloomberg] Stock Rally Extends Into Asia as Oil Falls; Aussie Sinks on GDP [Bloomberg] Bonds Plunge as Indian Policy Makers Unexpectedly Hold Key Rate [Bloomberg] China’s Foreign Reserves Drop Most in 10 Months as Yuan Slumps [Bloomberg] China’s Yuan Pessimists Are Multiplying […]
[Bloomberg] Oil Falls for First Day in 5 as OPEC Euphoria Fades; Bonds Gain [Reuters] Asia stocks bounce as risk appetite returns after Italy vote [Bloomberg] Trade Deficit in U.S. Widened to a Four-Month High in October [Reuters] Italy readying state bailout for Monte dei Paschi bank-sources [FT/CNBC] Monte dei Paschi readied for state bailout […]
[Bloomberg] Asian Stocks to Join Post-Italy Vote Rally as Volatility Abates [Reuters] Techs buoy S&P, Nasdaq; Goldman pushes Dow to record high [Bloomberg] ECB Buys Record Amount of Debt as QE Frontloaded Before Holidays [Bloomberg] Everything You Need to Know About Italy’s Five Star Movement: QuickTake Q&A [CNBC] ‘Everybody loses’: What an economic war between […]
[Reuters] Italy votes in referendum with PM Renzi’s future at stake [Bloomberg] Europe’s Populists Target Landmark Victories in Italy, Austria [BBC] Italy referendum: PM Renzi’s future in the balance [AFR] Populist revolt leaves Italy on the brink ahead of refendum [AP] Trump threatens payback for US companies that move abroad [Bloomberg] Draghi Seen Ready for […]
[Dow Jones] Irrational Exuberance: Alan Greenspan’s Call, 20 Years Later [Reuters] India’s Modi defends clampdown on cash economy [Washington Post] Amid global anti-establishment anger, Italy may be next in line for upheaval [Reuters] China lodges protest after Trump call with Taiwan president
The trading week saw WTI crude surge 12.2%. The GSCI commodities index jumped 5.8%. Wheat dropped 3.6% and corn fell 3.1%. Italian 10-year yields fell 18 bps, and Greek yields dropped 37 bps. Meanwhile, Portuguese yields jumped 13 bps. In U.S. equities, Bank stocks (BKX) jumped 1.5%, while the Morgan Stanley High Tech index dropped […]
