Authored by John Mauldin via MauldinEconomics.com,
This is something I’ve been pondering for some time. I think the next crisis will reveal how little liquidity there is in the credit markets, especially in the high-yield, lower-rated space.
Dodd–Frank has greatly limited the ability of banks to provide market-making opportunities and credit markets, a function that has been in their wheelhouse for well over a century.
The last month or so has seen 'momentum' dramatically outperform the market as retail flows chase 'what is working'...
In fact this has very much been a year of momo...
But, as Bloomberg notes, U.S. stocks with the fastest-rising prices are showing the kind of strength they did in the 1990s, according to Jonathan Krinsky, chief market technician at MKM Partners LLC.
Authored by Valentin Schmid via The Epoch Times,
Blockchain researcher explains bitcoin's potential as sound money...
Thanks to its six-fold increase during this year, bitcoin is one of the hottest topics in finance in 2017. It has attracted attention from the likes of European Central Bank President Mario Draghi and JPMorgan President and CEO Jamie Dimon. Some call it a bubble and a fraud that will soon collapse; others say the genie is out of the bottle.
Having taken a gamble on bitcoin futures, which are set to begin trading by the end of the year, the CME is now seeking to avoid the consequences of what has emerged as both the cryptocurrency's best and worst selling point: its unprecedented volatility. To do that, the Chicago-based exchange will do what it does to virtually every other asset class traded under its roof, and impose limits on how much prices of bitcoin futures can fluctuate within a day.
It's deja vu all over again.
Exactly 6 months after Snapchat reported abysmal Q1 earnings - its first since going public - which crushed its stock, the company has done it again reporting earnings that disappointed on every single metric, and missed across the board with revenues and user growth failing to meet Wall Street expectations, as cash burn remained ridiculous, while the net loss tripled to a whopping $443MM from $124MM one year ago.
Here is the Q3 breakdown: