Less than two years ago, news of Russia test-firing an ICBM just as the east Ukraine civil war was heating up, was sufficient to send the stock market into a brief tailspin. Since then, the launches of nuclear-tipped intercontinental ballistic missiles has become an almost daily occurrence, with the market hardly batting an eyelid.
Authored by Satyajit Das', author of the new book "The Age Of Stagnation" (via MarketWatch),
The mispricing of assets across world markets has reached epidemic proportions.
Stock prices have made strong advances over the past several years, yet market analysts see further gains, arguing that the selloffs of August 2015 and early 2016 represent a healthy correction.
Whether this week's market surge was catalyzed by two consecutive "technical problems" in the bond market, first the unexpected failure of the Fed's MBS POMO on Wednesday and then the 7 Year Treasury auction's last minute cancellations yesterday, and quite clearly it was...
... is irrelevant as the short squeeze has not only returned with a vengeance...
... but the critical 1,950 resistance and 50 DMA in the S&P500 was taken out...
Jesse Walker catches Rubio in one of the more absurd lies of the night during last night’s debate. Rubio claimed that the U.S. and its allies weren’t responsible for toppling the regime. Walker sets the record straight:
Once upon a time, roughly two year ago, the US would vehemently deny that any of its weapons made their way to ISIS, Al Nusra, and the various other jihadist groups operating in the middle east and which the US is, supposedly, targeting for eradication as part of the Syria proxy war. Then, little by little it was revealed that not only is the US not targeting said groups, which led to the Russian bombing campaign unleashed in September, but that it was actively arming them.