Just days after the conclusion of Russia's largest military exercise ever (which US military chiefs believe broke 'observer rules') and NATO's massive war games, Pravda reports a recent Russian Defense Ministry report says that Russia is preparing for the possibility of a military conflict with NATO countries.
It's deja vu all over again.
In a repeat of yesterday's session, where US equities and the dollar levitated in a one-way trade, Tuesday's muted session - where in addition to closed China and South Korean markets, Germany's Dax is also shut for holiday - has seen early dollar and European equity strength, while the S&P is set for new record highs amid higher E-minis and a VIX that is again lower after 5 consecutive days of declines.
Market veteran Art Cashin, the head of NYSE floor operations for UBS, made an interesting observation earlier today just minutes before the close, as US stocks headed for another record finish after shrugging off the worst mass shooting in US history.
Asked by CNBC’s Kelly Evans to explain how US stocks have continued to outperform while the 10-year Treasury yield has remained anchored below 2.5%, Cashin acknowledged that, during a career that's spanned more than six decades, he's never seen anything like today's market.
The largest secession movement since Brexit and the biggest mass shooting in American history... buy stocks!!
Spain felt the pain...
Authored by Christoph Gisiger and Mark Dittli via Finanz Und Wirtschaft,
Howard Marks, Co-Chairman of the US investment firm Oaktree Capital warns that valuations in the financial markets are uncomfortably high and that investors are acting too complacent.