Business

The unprecedented destruction wrought by Hurricane Harvey will impact the US economy in ways may not be immediately apparent. Until recently, coverage of the storm's impact has focused on property damage and the impact on the energy industry. But in a story published Friday, Bloomberg explains the devastating impact the storm has had on Texas’s chemicals industry, which is already causing supply-chain headaches for American manufacturers who're struggling to source the chemicals required to produce plastics and other components used in everything from milk jugs to car parts.

(Elite E Services) — 9/1/2017 — As we have explained in our book  Splitting Pennies – trading FX is nearly impossible; or at least, it may be possible for some time, but in the long run, it’s a near certainty that without the use of professional algorithmic trading systems you will blow up your account.  That’s because of the dynamics of how FX works vs. other markets.  In traditional markets, there is a bias towards positive movement; all CEOs of public companies want their stock to go higher.

"But, but, but, rates have nowhere to go but higher..." is all we have heard for the past year.

But what if that is incorrect?

KesslerCompanies.com quanitifies the upside returns from owning bonds if things don't work out as ebuliently as expected...

The ongoing ETF insanity, which as of the end of August saw Vanguard fund inflows of $1.6 billion every day (or $100 million every single hour) has now boldly crossed over into the political arena, with the upcoming launch of the "MAGA" ETF, which hopes to "make America great again" by investing exclusively in companies that support the Republican Party, and Trump of course.

With soft survey data scrambling the macro traders minds currently (China manu good, services crash; Canada bad - despite surging GDP?), all eyes swing to US data this morning with Markit's Manufacturing PMI weaker than July (though beating expectations modestly) with a "renewed stuttering of the manufacturing economy during August." However, for those who need some good news, ISM's survey of the same manufacturing economy saw them the most exuberant since April 2011!