In a somewhat quieter week for economic news, this week's focus is on BoE and SNB policy meetings as well as on inflation releases in US, UK, China and others. Other releases of note include retail sales in the US, UK and China along with industrial production in US, Eurozone & China.
Key events:
Authored by James Rickards via DailyReckoning.com,
Dear President Trump,
Over the last couple of years I’ve been all over TV… from Fox News to CNBC, CNN and Bloomberg. I’ve been telling our fellow Americans that the financial global elite was planning to issue their own globalist currency called special drawing rights, or SDRs.
Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum,
Lasting Debt
“Rule one: Never allow a crisis to go to waste,” said President Obama’s Chief of Staff Rahm Emanuel in November of 2008. “They are opportunities to do big things.”
Ugly jobs data (hopefully transitory), uglier energy industry data, and ugliest comments from Trump on throwing away any fiscal restraint with the debt-ceiling bathwater left the dollar down, stocks lower, and bonds and bullion bid...
For the first time in two years, the owners of the Dow Jones Industrial Average have changed the benchmark’s divisor, the number used to determine how moves in the share prices of individual Dow components affect the level of the index.
The new divisor is now 0.145233969 from 0.146021281. With the new divisor, a $1 price move in any Dow component will translate to a swing in the level of the Dow between 6.8854 and 6.8483 points.