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Having bounced back dramatically from the 20% plunge following China's ban of ICOs, Bitcoin is getting battered again this morning on very heavy volume as Caixin reports Chinese authorities plan to shut local Bitcoin exchanges.

The supervisory authority has decided to close the exchange of virtual currency in China , which involves all the currencies and currencies of the currency , such as "currency line", "coins" and "Bitcoin China."

 

Last week, before the full devastation from Hurricane Harvey was unveiled, Goldman and JPM were the first banks to suggest that the storm's impact on US GDP would be modest: a slight decline in Q3 growth,  offset by a similary modest rebound in Q4 and further as emergency funds "trickled down" through the economy.

Wholesale Sales has fallen for 4 of the last 5 months with July sales dropping 0.1% MoM from June. While sales dropped, inventories surged 0.6% MoM, pushing the inventory-to-sales ratio to 1.30x - the highest since before the election (Nov 2016).

Year-over-year inventories growth is the highest since September 2015 as Sales growth slows...

The absolute wholesale trade "gap" is on the rise once again...

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Well, that escalated quickly.

Just two months after Standard & Poor’s downgraded its general obligation debt to junk status, warning that the historic Connecticut capital could soon follow other once-proud cities like Detroit into bankruptcy, Hartford city officials confirmed as much when they warned on Thursday that the city could be forced into insolvency within two months if the state doesn’t provide emergency financial relief, the WSJ reports.