Tuesday Afternoon Links

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[CNBC] Dow plummets more than 450 points after disappointing earnings from Caterpillar and 3M [BloombergQ] Stocks Tumble; S&P Touches Lowest Level Since May: Markets Wrap [Reuters] Italian yields rise as EU gives Rome three weeks to revise budget [BloombergQ] Oil Tumbles to One-Month Low as Saudis Pledges Adequate Supply [CNBC] Trump and China’s Xi to meet at G-20: Kudlow [CNBC] EU… Read More

Tuesday’s News Links

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[BloombergQ] Asian Stocks Resume Declines; Dollar Holds Gain: Markets Wrap [BloombergQ] Oil prices fall as Saudi Arabia pledges to play ‘responsible role’ in market [Reuters] This week’s earnings shine spotlight on China growth risk [AP] China-US ties sinking amid acrimony over trade, politics Source: creditbubblebulletin.blogspot.com

Monday Afternoon Links

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[Reuters] Energy and financials weigh on S&P and Dow [BloombergQ] Oil Closes Below $70 for Fourth Session as Stockpiles Accumulate [Reuters] Trump eyeing a 10 percent middle-income tax cut plan [Reuters] Chinese official tells American investors at a meeting: We don’t fear a trade war with the US [BloombergQ] China’s Central Bank to Offer More Funds to Private Companies [BloombergQ]… Read More

Monday’s News Links

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[Reuters] Asia shares pare losses as China rallies on stimulus hope [BloombergQ] Chinese Stocks Rally Most Since 2016 as State Steps Up Support [BloombergQ] Kudlow Blames China for Not Engaging Ahead of Trump-Xi Meeting [BloombergQ] Inflation Creep Is Real, Morgan Stanley Says [BloombergQ] China Breaks Six-Month Streak of Accelerating Home-Price Gains [Reuters] China slams Pompeo’s ‘malicious’ Latam comments amid influence battle… Read More

Sunday Evening Links

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[Reuters] Mnuchin dismisses risk of contagion from China’s economic slowdown [Reuters] Italy expects EU budget rejection on Tuesday: source [BloombergQ] Mnuchin Open to Change in Currency Test as U.S. Spars With China [FT] Rome’s defiant tone over budget leaves investors tense Source: creditbubblebulletin.blogspot.com

Sunday’s News Links

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Mideast Stock-Saudi stocks close up slightly after account of Khashoggi death [BloombergQ] Italy’s Banks at Risk From Widening Spread, League Official Says [Reuters] China says must balance stable growth and risk prevention [Reuters] Trump says U.S. to exit nuclear treaty, Russia warns of retaliation [Reuters] UBS warns staff over China travel after banker held in Beijing: source [FT] Italy vows… Read More

Saturday’s News Links

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[BloombergQ] Major WTO Showdown Looks Harder to Avoid as U.S., China, EU Spar [Reuters] Italian deputy PM says government will not lower 2019 deficit goal [Reuters] China’s September new home price gains led by smaller cities [Reuters] Exclusive: U.S. weighs new warship passage through Taiwan Strait [BloombergQ] Run For The Exits. China’s Talking Up Stocks Again [WSJ] Italian Credit Downgrade Likely… Read More

Weekly Commentary: Moscovici and the National Team

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From the perspective of monitoring an unfolding global crisis, things turned only more concerning this week. The Shanghai Composite declined to 2,450 in early Friday trading, the low since November 2014 – and down almost 26% y-t-d. Across the globe in Europe, Italian 10-year yields jumped to 3.80% in early-Friday trading, the high going back… Read More

Middle East Braces For Apocalyptic Conflict Between Israel And Hamas As Defense Minister Avigdor Liberman Declares “War Is Inevitable”

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It appears that a major war between Israel and Hamas is imminent.  For the past six months, Hamas has been staging violent protests along the Israeli border in an attempt to end the Israeli-Egyptian blockade.  Those protests have escalated in recent weeks as Egyptian efforts to broker a long-term ceasefire have faltered.  During these violent… Read More

Weekly Commentary: Rude Awaking Coming

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Please join Doug Noland and David McAlvany this Thursday, October 18th at 4:00PM EST/ 2:00pm MST for the Tactical Short Q3 recap conference call, “Market Contagion is Back.” Click here to register. There’s little satisfaction writing the CBB after a big down week in the markets. Motivation seems easier to come by after up weeks,… Read More

Weekly Commentary: Powell, Greenspan and Whatever it Takes

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Fed Chairman Powell is in a tough spot, one made no easier now that he’s on the receiving end of disapproving presidential Tweets. The global Bubble has begun to falter, which only exacerbates divergences between various markets and economies. The U.S. is booming, while China struggles and EM economies now stumble into the dark downside… Read More

That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System

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We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis.  Over the past decade, there has been an insatiable appetite for cheap loans in emerging market economies, and a very substantial percentage of those loans were… Read More