With less than two hours until the Fed releases the minutes to the June FOMC meeting which may shed some more light on how Fed officials view the simultaneous declines in unemployment and inflation, there are two key things markets will focus on:
Over the last few years, as nervous investors worried about a market that has risen to record highs on trillions in central bank liquidity, and seeking some particular market product to which they could transfer their concerns and fears, ETFs quickly emerged as the current generations' "CDO" - the product that will accelerate the next crash when the BTFD mentality that has defined the market for the past 8 years, finally ends as central bankers pull the rug from under an entire generation of traders.
Authored by Charles Hugh Smith via OfTwoMinds blog,
The technocrat and capital-owning class is delighted with the economy, and can't understand why everyone isn't prospering.
Nearly one year after rumors about its upcoming bankruptcy first emerged, overnight US-based denim retailer True Religion Apparel finally threw in the towel when it filed for bankruptcy protection, signing a pre-packaged restructuring agreement with most of its lenders.
The South African rand has tumbled following a report confirming recent speculation that South Africa’s ruling African National Congress will propose that the country's central bank, the Reserve Bank be nationalized and wholly owned by the state, according to three people familiar with the discussions quoted by Bloomberg.