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Following its big surge Thursday, Ethereum has broken through the psychologically important threshold of $400, establishing a new all-time high - currently hovering above $450.

image courtesy of CoinTelegraph

As CoinTelegraph reports, despite some market stagnation caused by the news of the $280 mln Parity wallet hack in early November, the second-most-popular cryptocurrency looks stronger than ever, now with a market cap over $43 billion.

Yesterday we laid out the reasons why French bank SocGen unveiled a surprisingly contrarian forecast, according to which the S&P would tumble from its current level over 2,600 to 2,000 in 2018, representing a more than 20% bear market drop...

... the drop catalyzed by rising interest rates pressuring P/E multiples, a late cycle economy nearing recession, equities trading at record valuations, and with everyone short vol begging for a vol short squeeze. Not surprisingly, SocGen's unspoken advice was to get out now.

After reassuringly positive Eurozone PMIs, US Manufacturing and Services disapointed with the composite PMI slumping to 5-month lows in November.

It's not exactly clear what message the following Black Friday offer from Royal Yacht Brokers is meant to send: that billionaires are becoming hesitant with their yacht charters, which would seem at odds with someone recently laundering $450 million using a rare Da Vinci painting, or that Credit Suisse's ultra high net worth clients who comprise the peak of this pyramid...

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