In an effort to offer a more transparent alternative to U.S. dollar Libor, the New York Federal Reserve released its first Secured Overnight Financing Rate (SOFR) Tuesday. SOFR opened at 1.80. Considerably lower than either the ICE Libor 1 month or 3 month rates. The Secured Overnight Financing Rate (SOFR) is a broad measure of […]
Bill Blain: “This Time it Really Is Different! The Machines Have Taken Over and They Will Never Sell”…
Forget the Known Unknows, its the shocking surprises that are going to get us – “Bubbles don’t grow out of thin air, they have a solid basis in reality. But, reality is distorted by misconception..” And it’s a bad start to the week as my Bloomberg obliquely gave the finger by refusing to log me […]
German Politicians Accuse U.S. Of “Economic War” Against Deutsche Bank…
The Stock-Market Rout Just Drove the S&P 500, Dow Below Key Level…Here we go…
After weeks of virtual dormancy, a bona fide stock-market selloff took hold on Wall Street. Both the S&P 500 index SPX, -2.45% and the Dow Jones Industrial Average DJIA, -2.13% plunged below their 50-day moving averages…
Bondmageddon Sparks Crude Carnage & Biggest Stock Slump In 7 Months
UK PM Cameron Goes M.A.D. As Brexit Odds Hit Record High…
“We’re not scaremongering…. [but] Brexit would put a bomb under our economy, and the worst thing is, we’d have lit the fuse ourselves.”