On Tuesday, we brought you Bloomberg’s top 10 “worst case scenarios” for 2016. The list, compiled by polling "dozens of former and current diplomats, geopolitical strategists, security consultants, and economists" included everything from devastating cyber attacks by Iranian and Russian hackers to a military coup in China.
They even threw in a Trump victory in the national elections for good measure.
Update: The SEC Folds:
As Bloomberg reports, Third Avenue Management LLC received approval from U.S. regulators to temporarily suspend redemptions from its $788.5 million high-yield bond fund.
Someone forgot to give the banks the memo that the Fed's first rate hike since 2006 was supposed to, at least on paper, benefit the savers of America and not so much the, well, banks.. Because the ink hadn't even dried on the Fed's statement and one after another banks revealed that they would promptly boost their Prime lending rate from the current benchmark of 3.25% to the new Fed Funds-implied prime rate of 3.50%.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
My friend and colleague, Michael Lebowitz of 720 Global Research, recently penned a response to Larry Summers commentary on the economy’s weakened ability to withstand higher interest rates. To wit:
Sticker Shock: Fed to Hike Rates First Time in NINE Years!
Courtesy of Phil’s Stock World
A rate hike – what’s that?