ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’

With the Washington Post stepping up to put a floor under US stocks Thursday afternoon by reporting that President Trump would meet Chinese President Xi Jinping at next month’s G-20 summit (while the headline soothed the market, it doesn’t change the fact that, as with…

Trader Warns “We’ll Waste The Lessons Of This Equity Meltdown”

Stocks are bouncing (albeit modestly), and news media is awash with an interesting mix of administration officials and asset-gatherers desperately talking down yesterday’s bloodbath as a ‘storm in a teacup’ – even if some are gloating that this occurred under Trump. But as the dead-cat…

These Are The Three Things That Could End The Market Sell-off

Yesterday’s violent US selloff was so sharp that US stocks are now back to where they were in the middle of January after peaking in September. And as noted earlier, the rout has spread with stock markets in the rest of the world following lower….

After Torrid Growth, US Trucking Faces A Sharp Slowdown

Despite transport stocks recently hitting highs and intermodal shipping attracting more business due to the tight trucking market, experts believe that the recent feverish growth in trucking is now in the rearview mirror. “Peak trucking has passed,” stated a recent  FreightWaves report. And at a…

Dow Trumps Tech For 7th Straight Day Despite Beijing, Brussels Bloodbath

Bonds closed and Canadian Thanksgiving meant a big roundtrip for US stocks despite carnage around the world… China came back from vacation, cut RRR, and dumped stocks (to catch up with last week’s global weakness)… And the Yuan…   Europe was a bloodbath… All of…

Italian Stocks, Bonds Collapse After EU Rejects Rome’s Budget Plans

Italian stocks tumbled with the FTSE MIB dropping 2.3% – the worst performer among major European markets on Monday – and hitting its lowest level since April 2017, while the country’s bonds plunged to the lowest level since February 2014 amid what now appears to…

Why The Speed Of Rising Yields Is What Matters For Stocks

In our earlier discussion of rising rates precipitating a drop in stocks, we noted that while the absolute level of the 10Y yield in itself is a key trigger to a selloff, the other catalyst is the speed/rate of the selloff in rates – i.e.,…

Italian Rout Returns As Salvini Blasts Juncker, Moscovici After Europe Mocks Budget

The selloff across Italian assets returned on Friday, with stocks and bonds sliding as traders had a chance to go over the additional budget details released on Thursday evening and consensus quickly forming that the controversial budget plans of Italy’s populist government are hanging on an economic…

“It Will End In Tears”: World Stocks, Euro Slide As Italian Contagion Spreads

World stocks slumped, European assets sold off and the Euro dropped to a three week low on Tuesday after anti-euro comments from an Italian party official sent renewed shockwaves across Europe and the globe, and pushed Italy’s bond yields up to multi-year highs. Italian assets…

Fresh Reports Of Real Estate Rage Signal Turn In Chinese Housing Market

Via Investing In Chinese Stocks blog, Chinese homebuyers have demanded to return their housing in 2008, 2011 and 2014: each time the market price declined, but real estate rage first appeared in 2011. There was a report of real estate rage in Shanghai. The developer had…