Authored by Daniel Nevins via FFWiley.com,
We’ve been seeing more and more commentaries discussing bad stuff that can happen when the Fed tightens policy and, as a result, the yield curve flattens. (See, for example, this piece from Citi Research and ZeroHedge.)
No doubt, the Fed’s rate hikes will lead to mishaps as they usually do—in both markets and the economy.
Via Elementus.io,
This graphic shows every token sale that successfully raised at least $100k, from the beginning of 2014 through the end of last month, November 2017. The bar chart at the bottom displays the total dollar amount raised in each month (details below).
Authored by Nomi Prins via The Daily Reckoning,
Few people know financial markets’ biggest secret...
For the last 40 years, most people believed the stock market always goes up. Simply buy and hold long enough, the theory went, and you could sit back and watch the money accumulate in your account. No thought or hard work needed.
A few weeks ago, we expressed some level of astonishment that the rating agencies, in their infinite wisdom, decided to bestow an investment grade rating upon a new $3 billion bond issuance by the City of Chicago. Of course, this wouldn't be such a big deal but for the fact that the state of Illinois is a financial disaster that will undoubtedly be forced into bankruptcy at some point in the future courtesy of a staggering ~$150 billion funding gap on its public pensions, a mountain of debt and $16.4 billion in accrued AP because they can't even afford to pay their bills on a timely basis.
Just two days after taking medical leave from his role as CEO of CSX, the company has confirmed 73-year-old Hunter Harrison has passed away.
Hunter Harrison, CEO of rail company CSX, has passed away, the company confirmed in a statement Saturday.
"It is with great sadness that we announce that E. Hunter Harrison, President and Chief Executive Officer of CSX, died today in Wellington, Fla., due to unexpectedly severe complications from a recent illness," the company said.