The traditionally illiquid post-Thanksgiving week has started with a series of whipsaws across stocks and bonds, as European stocks turned positive after starting the day on the back foot, initially mirroring a slide in Chinese stocks and price action in U.S. equity futures as investors look to a possible - and absolutely critical - tax-plan vote in the Senate this week.
Blain’s Morning Porridge – November 27th 2017, submitted by Bill Blain of Mint Partners
Germany - not solved and likely to prove an even larger problem..
“El castillo, le torre yo soy, le espada que guarda el caudal.
In early November, we discussed how commentators were disturbed by the sell-off in Chinese government bonds after the Party Congress, which saw yields rise to 4.0%. The anomaly was that yields in less-liquid, unsecured Chinese corporate bonds had barely moved. Some sleuthing on the part of the Wall Street Journal discovered that the most likely explanation was that redemptions in China’s shadow banking sector, especially in the infamous $4 trillion Wealth Management Products (WMP), meant that cash needed to be raised…quickly. Highly liquid government bonds were the easiest option.
Submitted by By Shant Movsesian and Rajan Dhall MSTA of FXdailyterminal.com
An Athens Appellate Court Prosecutor has found 36 people guilty for the infamous “Athens Stock Exchange Crash of 1999” that caused thousands of small investors to have lost their life savings.
As KeepTalkingGreece.com reports, it has taken 18 years for an Athens Appellate Court Prosecutor, Athina Theodoropoulou, to find guilty 36 individuals implicated in the affair – including stockbrokers, investors, and shipowners.