World stocks hit new record highs on Tuesday amid a continuation of Monday's risk-on theme which unleashed a dramatic relief rally on easing North Korea tensions and signs that Hurricane Irma caused less damage than feared (which according to Keynesians should be GDP negative). The MSCI All-Country World Index gained 0.2%, hitting the highest on record with a fifth consecutive advance.
Authored by Mike Shedlock via MishTalk.com,
Brexit negotiations hit the rocks with the size of the Brexit divorce bill the key issue.
The Independent reports: Britain is ‘backtracking’ on its Brexit divorce bill commitments, moans Michel Barnier, the EU’s chief negotiator warns.
My response: Hooray for the UK!
Submitted by Francseco Filia of Fasanara Capital
Measuring the Bond Bubble
A key conviction of ours is that we live through a Twin Bubble in asset markets: an Equity Bubble, particularly in the US, and a Bond Bubble, particularly in Europe.
Authored by Soeren Kern via The Gatestone Institute,
Concluding a months-long saga in which central and eastern European nations revolted against Brussels' refugee policies, on Wednesday the European Union’s highest court ruled that EU states must take in a share of refugees who reach Europe, dismissing complaints by Slovakia and Hungary and reigniting an angry row between east and west.