Earlier today we reported that according to Reuters sources, the ECB was preparing for a Brexit deja vu, and was preparing to "temporarily step up purchases of Italian government bonds if the result of next Sunday's crucial referendum "rocks markets" and sharply drives up borrowing costs for the euro zone's largest debtor."
Following former Goldman Sachs' partner Steve Mnuchin's visit to Trump Tower this morning (as the decision over Treasury Secretary looms), the Trump transition team just announced that Donald Trump and Mike Pence will meet with Goldman Sachs COO Gary Cohn (but provided no details on whatthey would discuss).
As Bloomberg reports, Cohn joins a long line of people who are offering advice or being considered for administration positions.
Almost exactly ten years after the last housing bubble burst, unleashing a dramatic crash in US real estate prices - something Ben Bernanke had said in the mid-2000's would be unprecedented - today Case Shiller reported that as of September, its Index covering all nine U.S. census divisions, surpassed the peak set in July 2006 as the housing boom topped out, and in doing so the average home price has now climbed back above the record reached more than a decade ago, bringing to a close the worst period for the housing market since the Great Depression.
In what appears to be a material shift in the perceived OPEC balance of power, while Iran (and Iraq) have so far refused to concede to Saudi demands for production cuts, moments ago Reuters reported that in what can only be described as a demonstration of power, Iran proposed that it be Saudi Arabia that foots the entire proposed production cut, by reducing its own production to 9.5 million barrels.
The company reported an excellent quarter and the stock is higher by 6.5% early on. However, they issued a warning due to its flagship NYC store undergoing notable softness, thanks to all of the progressives protesting the democratically elected candidate for President of the United States, Donald J. Trump -- right next door at Trump Tower.