VAR Shocks!
By Chris at www.CapitalistExploits.at
How much money can you lose on any given day according to an entire squadron of dynamic variable factors?
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Business
How BofA Learned To "Stop Fighting Central Banks" And Love Shorting The Euro
In a new report that may come as music to the ears of Mario Draghi, who has been valiantly hoping to show the European economy recovering while keeping the EURUSD below the "red line" of 1.20, BofA FX strategist Athanasios Vamvakidis is out with a new note today urging currency traders to "stop fighting the central banks", in other words stop selling the USD and buying the EUR, and recommends shorting the EURUSD to 1.15 with a 1.21 stop loss.
Harvey's Destruction "May Have Solved The Auto Industry's Inventory Problem"
On Tuesday, during the peak of the Harvey-related flooding, we reported that the hurricane may leave a greater trail of automobile destruction than even Katrina, the most expensive natural disaster in US history. In August 2005, Katrina wiped out some 500,000-600,000 vehicles but William Armstrong of CL King warned that Houston has about 5x more people than New Orleans did at the time.
Gold Pops, S&P Stops, And Bonds Have Best Month Since Brexit
One look at the last few days in stocks and all we can say is...
Gold and The Long Bond were the best performers in August with stocks and the dollar unchanged-ish
Bitcoin Surges To New Record High, Overtakes Paypal & Netflix, Nears Morgan Stanley's Market Cap
Amid chaotic swings in the dollar, and flash-crashes in precious metals, it seems anxious global investors have pushed into cryptocurrencies as a safe-haven overnight with the top 5 virtual currencies all soaring.
Bitcoin has reached a new record high at $4740...
Pushing its total market cap near that of Morgan Stanley.
Bitcoin is now bigger than 425 of the S&P's 500 members.