Authored by Christoph Gisiger via Finanz und Wirtschaft,
James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank.
Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.
Authored by David Stockman via Contra Corner,
The entire financial and economic narrative in today's Bubble Finance world is virtually context- and history-free; it's all about the short-term deltas and therefore exceedingly misleading and dangerous.
Authored by Patrick Buchanan via Buchanan.org,
“We will never accept Russia’s occupation and attempted annexation of Crimea,” declaimed Rex Tillerson last week in Vienna.
“Crimea-related sanctions will remain in place until Russia returns full control of the peninsula to Ukraine.”
Tillerson’s principled rejection of the seizure of land by military force - “never accept” - came just one day after President Trump recognized Jerusalem as Israel’s capital and pledged to move our embassy there.
The need for consolidation in the face of the ongoing Amazon - and broader online menace - is becoming irresistible, even for the biggest and best mall operators. Today the French-based Unibail-Rodamco, the biggest commercial landlord in Europe, agreed to purchase Westfield, the Australian-based mall operator. Unibail is offering 0.018844 shares and $2.67 cash for each Westfield share – a 65/35 stock/cash ratio – which values Westfield at an enterprise value of $24.7 billion. Westfield owns 35 shopping malls in the UK and US and is building a new mall in the Italian city of Milan.
E-mini futures are modestly in the green this morning, though net of fair value the S&P index is poised for another record high open as the FOMC begins its last meeting for 2017 in which it is expected to raise rates by 25bps. European stocks gain while Asian equities slide led by weakness in Chinese airplane stocks.