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El-Erian Exposes The Upside And Downside Of Liquidity-Driven Markets

July 22, 2017 - 1:30am
El-Erian Exposes The Upside And Downside Of Liquidity-Driven Markets

Authored by Mohamed El-Erian via Bloomberg.com,
Over the past few months, government bond yields have fallen, the dollar has weakened and financials have underperformed, yet the major stock indexes are at or very near record highs, as persistently supportive liquidity conditions have more than compensated for policy and growth disappointments.
By boosting returns and repressing volatility, ample liquidity is a gift for investors. It makes the investment journey pleasing, comfortable and lengthy. But it is not a destination.

Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

July 21, 2017 - 8:38pm
Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

The euro's surge to an almost two-year high put a cap on the global market rally in Friday's quiet session, with most major exchanges consolidating after a second strong week of gains. The MSCI Asia-Pacific index declined for first time in ten days while the European Stoxx 600 index was fractionally in the green as were US equity futures ahead of earnings reports from General Electric, Honeywell, Schlumberger and others. Oil gained with Brent flirting with $50, zinc rallied along with most base metals.

Feds Shut Down AlphaBay; Sessions Warns Criminals "You Cannot Hide" On Dark Web

July 21, 2017 - 1:53pm
Feds Shut Down AlphaBay; Sessions Warns Criminals "You Cannot Hide" On Dark Web

More than three years after the FBI shut down the Silk Road, the pioneering dark-web marketplace for drugs and illegal goods, the FBI and DEA – working with international law-enforcement agencies - have busted two more dark-web marketplaces that facilitated the sales of illicit items like drugs, weapons and stolen data, according to the Department of Justice.

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