When it comes to geopolitics, all anyone wants to talk about is Syria. And understandably so.
When it comes to financial markets, all anyone wants to talk about is China - an equally understandable fixation.
To be sure, China was already a big driver of risk on/ risk off sentiment going into August of 2015. The “is it a hard landing or is it not” question very often dominated global macro discussions among those who enjoy debating such things.
Excerpted from James Stack's InvesTech.com,
Technical Evidence: Confirming a bear market
Long before the mainstream media caught on to the topic of SWF selling of stocks, we warned a month ago that as a result of the collapse in oil, and assuming oil remains priced at roughly $31 per barrel, the world's largest SWFs showin the chart below...
... would be forced liquidate at least $75 billion in equities and the lower the price of oil goes, the more selling there would be.
Oil's late week surge provided much buying excitement asd Mid-East equity markets opened with flashing green numbers across every screen. However, by the close, it was a sea of red with Kuwait, Egypt, Amman, and Iraq all lower and Saudi's Tadawul All Share Index tumbling almost 4% from the opening highs as war worries dragged The Kingdom's stock market back near 5-year lows.
Not "off the lows"...
Tumbling near 5-year lows...
As Saudi Bank risk begins to rise once again...
Submitted by Claire Bernish via TheAntiMedia.org,
In the spirit of the transparency — of which the Obama administration claims to be a champion — there will be no details regarding the allocation of non-military intelligence spending in the president’s final budget request to Congress.