Picking up on a story reported previously by both the WSJ and Politico - oh and Bloomberg itself - Bloomberg writes that Trump’s advisers have delivered the final list of candidates they recommending as candidates to lead the Fed and have ended the search.
With China still enjoying their National Golden Week holiday, it appears the algos are unable to maintain their normal patterns of behavior...
Instead of the ubiquitous rise in USDJPY, sparking risk-on sentiment for all to follow, tonight USDJPY is falling at the open and that means gold is up (albeit marginally)...
But it's not just JPY, all the majors are bid versus the greenback sparking a notable downdraft to the Dollar Index...
Last month, when we reported auto sales data, we noted that this month would be all about replacement demand from Hurricane Harvey and thus largely irrelavant. Fast forward 30 days and that appears to be exactly what has happened as annualized auto sales for the month of September suddenly surged to a 30-year high of 18.5mm units, up 15.2% sequentially from a 16.0mm run-rate last month.
Tuesday’s meeting of the Uber Inc. board – the first following Kalanick’s unilateral decision to appoint former Xerox Corp. Chairwoman and CEO Ursula Burns and former Merrill Lynch Chairman and CEO John Thain – appears to have been a productive one.
Reuters is reporting that the board voted to move ahead with two issues, a change in governance rules, and an investment by Japan’s Softbank Group, which it was reported last month has been in talks to invest as much as $10 billion in the cash-burning ride-share giant.
Even in a time when retail investors are (almost) literally throwing money at ETFs, and the passive industry is growing by billions of dollars each day at the expense of active managed funds, there are occasional casualties, and on Tuesday afternoon it was Dennis Gartman's turn. According to AdvisorShares, which offers 18 ETFs with $1.1 billion of assets under management, the ETF administrator has begun the process of closing two Gartman ETF products, the Gartman Gold/Euro ETF (NYSE Arca: GEUR) and the AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN).