Business

Looking at today's scheduled release of Minutes from the September FOMC meeting (which at least according to one trader will be the "start of the market changeover process"), RanSquawk reminds us that the Federal Open Market Committee stood pat at the meeting, as expected. The Committee also announced that it would begin to shrink the size of its balance sheet in October, as expected, with the process falling in line with a previously disclosed detailed plan.

At a time when the SEC is still debating whether to permit bitcoin-based ETFs in the US, Europe has been one step ahead thanks to the Swedish-based XBT Exchange Traded Notes (from provider CoinShares). And today, remaining one step ahead of the US, the same team behind the XBT ETN has launched the first ever ETN for Ether, the native token of the Ethereum platform, which will be listed on the Nasdaq Stockholm.

Authored by Nick Cunningham via OilPrice.com,

WTI recently dipped below $50 per barrel for the first time in a month, erasing the strong September rally. It’s no coincidence that after two weeks of price declines, OPEC has tried to talk up the oil market again, hinting that more drastic action could be forthcoming.

Former Fortress Principal Michael Novogratz is not shy to share his opinion of virtual currencies. In June he explained "cryptocurrencies were likely the biggest bubble of his lifetime," but remained positively constructive with 20% of his net worth in various coins including Bitcoin and Ethereum as he made billions.

"Novo" - as his friends call him - has had a good run...

Is it complacency, or simply trader paralysis?

A question we first asked three months ago is getting a second wind this morning, when in a report by Deutsche Bank's Alan Ruskin - "Vol: freeze or flight?" - the macro strategist points out that "the new 2017 Nobel laureate for Economics is not the only one at a loss to explain low stock market volatility, and thinks investors are in ‘freeze mode’ in the midst of global uncertainties."

According to Ruskin, however, it's all about to change.