Remember when the central bank of the United States worried about development in the, well, United States? Those days are gone. Presenting: China. From page 8 of Yellen's speech on "The Outlook, Uncertainty, and Monetary Policy":
With the central-bank-inspired short-squeeze-driven equity market surge losing momentum, Janet Yellen's 'hint-hint' speech today to The Economic Club of New York comes at a critical moment. Amid the constant chatter of headline-making Fed members, seemingly flooring (and capping) the S&P's movement with their algo-driving comments, Yellen is caught between a credibility-crushing dovish (the world is collapsing and we need to maintain equity 'wealth' creation) rock and the hawkish (rate normalization continues - just look at how awesome jobs
Submitted by Jeff Clarke via HardAssetAlliance.com,
It was predictable: gold takes a breather, and a flash mob of gold agnostics and atheists forms to point out the price is falling and that there’s little reason to get excited about it.
That’s the problem with investing bias; you don’t look for, or just ignore, evidence that shows another factor is in play.
Oil and the Canadian Dollar have traded tick-for-tick for the last 24 hours... until around 5amET, when the loonie was suddenly bid despite a plunge in crude. As US equities opened and crude extended its losses, CAD quickly plunged but it appears someone, or something, was ready to buy with both hands and feet...
Is The Bank Of Canada in the house? CAD positioning is back at its least short in 9 months so this does not feel like a short-squeeze.
The state of Georgia has built a significant film industry by giving Hollywood studios generous subsidies in the form of tax credits — a program that costs Georgia taxpayers $1 billion a year. But Georgia governor Nathan Deal earlier this year said he would not seek to repeal the tax credits, claiming that they were an overall economic winner for the state, because they made a lot more money for Georgia than they cost the taxpayer. Does anybody know if that is true?