Business

Fitch has downgraded Deutsche Bank to BBB+ from A- due to continued pressure on earnings, combined with concerns over the prolonged implementation of its recovery strategy.

Moody's and S&P remain at A3 and A- respectively (on a like for like rating basis), and while DB bond yields had fallen to the lowest levels since March 2015, the last few weeks have seen risk picking back up (yields now at 2-month wides) and the stock remains near its recent lows...

Full Statement:

Authored by Greg Hunter via USAWatchdog.com,

Private investor Gordon Long contends the price of gold will shock the world when it revalues to reflect the massive amount of currency that has been printed globally.

Long explains,

“That is correct, and it won’t be something that is gradual, it will be very abrupt. 

 

Odd day. Low volume, small range in stocks. Good macro. Some questions over just how 'miraculous' Trump's tax plan will be for the middle-class... but the day's trend across FX, bond, and commodities was set early on when Asia closed and dollar-sellers, bond-buyers, and precious-metal-purchasers came back to play...

Risk is "Contained"...

Via Baker & Company Advisory Group,

• The U.S. economy is not as solid as it appears.
• Statistical anomalies hide profound weakness.
• I will examine actual GDP and actual employment.
• Warning: not for the faint of heart.

Yesterday, in its latest triennial Survey of Consumer Finances, the Fed admitted what had been obvious to everyone else: Fed policies unleashed over the past decade have made the rich richer, even as the American middle class has continued to shrink.