Business

While nobody knows what catalyzed for the sharp selloff over the last hour, with Citi blaming it on Acrophobia, or fear of heights, saying  that "US equities opened at record highs, key levels were being approached in fixed income while USD enjoyed a bid across the board... However since then, it looks like markets have gotten a small case of cold feet", Bloomberg had a different idea, when it observed that stocks erased gains around 12:30 p.m. as S&P 500 fell 0.5% over 60 minutes to low of 2,469.51.

Having emerged as one of the most macro saavy UBS strategists, Arend Kapteyn - who several months ago first highlighted the unprecedented crash in China's credit impulse - points out something he first highlighted several months ago: a "surprising" paradox in which despite "signs of economic strength" across the developed markets, these same markets had yet to register any pick up in imports, or as Kapteyn puts it, "one of the most surprising charts of the year, for us at least, has been the one below: despite the strength of growth in the Eurozone, Japan and other parts of

Authored by Charles Hugh Smith via OfTwoMinds blog,

Those who have pushed the risk down the wealth-power pyramid are confident the Federal Reserve will continue to limit the risks of speculative financialization.

Authored by Mike Shedlock via MishTalk.com,

Steen Jakobsen, Saxo Bank chief economist and CIO just pinged me with a PowerPoint presentation on the preceding and next 30 years.

He commented “I somehow to my own surprise came to one single trend I believe in: everything is deflationary. Enjoy the “funny pictures” and the outlook.”

30 Years Ago

Current and Foreward Trends

Mish Comments

Now that former Turing Pharmaceuticals CEO Martin Shkreli has decided not to testify in his own defense, the jury could reach a verdict as soon as Friday afternoon.