In late September, India “surprised” 51 out of 52 economists by cutting rates a larger than expected 50 bps.
Despite RBI Governor Raghuram Rajan’s penchant for catching markets off guard and despite the fact that exports had fallen for eight consecutive months, economists still failed to predict that anything more than 25 bps was in the cards.
Submitted by Michael Snyder via The Economic Collapse blog,
While equities continues to plunge in what increasingly appears to be a straight line (sorry JPM) with the occasional mini short covering rally, and are fast approaching the August 24 ETFlash crash lows, the Treasury complex has been relatively quiet. While the lack of recent buying interest may be explained with concerns over ongoing reserve liquidations by the likes of China and Saudi Arabia, if Citigroup is right, that may be about to change.
Carnage continues. Small Caps have now joined Trannies in bear market territory (down 20% from the highs to September 2014 lows). S&P 500 is now in correction mode (down 10.7% from all-time-highs) as is Nasdaq.
Trannies down 27% from ATH...
Small Caps down 20% from ATH...
And The S&P 500 is in "correction"
By EconMatters
The Mining Industry Approach