Just over two months ago, JPMorgan CEO Jamie Dimon said he considered bitcoin to be a "fraud" that "will not end well," and would fire any JPM trader trading it. The very next day, one of JPM's most respected analysts, quant wizard Marko Kolanovic wrote a lengthy report to substantiate his boss' anger and skepticism, concluding that cryptocurrencies are most likely pyramid schemes and "that the future for cryptocurrencies will likely not be bright."
Authored by Saxo Bank's Head of Macro Strategy, Dembik Christopher, via TradingFloor.com,
The year 2018 starts with four main questions:
Is economic growth on a solid footing?
After the Party Congress finished in October and China’s centrally planned markets were released (somewhat) from the vice-like grip which had prevailed during the proceedings, we noted the comment from Huachuang Securities that China’s bond holders may be about to get hit by “daggers falling from the sky”, referring to deleveraging. They were right, to some extent, as first the government bonds, then corporate bonds sold off during November.
Via Dana Lyons' Tumblr,
Despite the S&P 500's jump to new all-time highs, trading in the short-term volatility market is signaling elevated levels of fear.
Submitted by Ronan Manly, BullionStar.com
One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.