Business

Authored by Alberto Gallo via Algebris Investments,

“Your loving give me such a thrillBut your love don’t pay my billsNow give me moneyThat’s what I want”Money – Barrett Strong, 1959

Ten long years after the crisis, volatility and fear seem to have disappeared from financial markets. A synchronous global expansion coupled with persistently loose monetary policy has produced a goldilocks environment for all assets. Will it work for another year?

Content originally published at iBankCoin.com

Sky People Fruit Juice closed +64% to $3, down from an intra-day high $5 (+200%) on news of now being a crypto play. Don't laugh; I'm deadly serious.

Traders on Twitter were quick to link the company to blockchain technology and the bitcoin craze, since Future FinTech announced in June it had changed its name from "SkyPeople Fruit Juice" to focus on financial technology.

WTI/RBOB inched higher on the day ahead of tonight's API data and then knee-jerked higher as the data showed a much-bigger-than-expected 5.2mm crude draw.

API

Authored Doug Kass of Seabreeze Partners Management,

"The missing step in the standard Keynesian theory [is] the explicit consideration of capitalist finance within a cyclical and speculative context . . . finance sets the pace for the economy. As recovery approaches full employment . . . soothsayers will proclaim that the business cycle has been banished [and] debts can be taken on . . . But in truth neither the boom, nor the debt deflation... and certainly not a recovery can go on forever. Each state nurtures forces that lead to its own destruction. "

While most financial professionals would enjoy nothing more than to trade bitcoin all day long - after all it only goes up in the long run (for now), while bringing insane volatility with it - the reality for most is that they are confined to such boring, established legacy instruments as Treasurys, which rarely have intraday fireworks similar to those in bitcoin.