Catalan President Carles Puigdemont and other regional leaders signed a declaration of independence from Spain.
Bond King Bill Gross Thinks We Have Fake Markets
Bill Gross, best known as the bond king of PIMCO and now of Janus Henderson Investors said on Monday “I think we have fake markets.” He points the blame squarely at the U.S. Federal Reserve’s loose monetary policy.
Fed’s Williams Warns Too Much Growth Could Spur an Asset Bubble
San Francisco Fed President John Williams warned Thursday that too much growth could spur an asset bubble and inflation. However he said the long-term trend in annual U.S. economic growth may be as low as 1.5 percent so he doesn’t see that happening.
As Russia Probe Drags on Putin Says Hasn’t Decided if Running Again
Apparently Russian President Vladimir Putin has not decided he will run for re-election in March 2018. For a guy who hasn’t relinguished any power since he headed the KGB this seems doubtful. Also today Senate Intelligence Committee head Burr said “Can certifiably say no vote totals were affected as a result of Russia”
Toronto Homes Sales Down 35% on Year
Home sales in the Greater Toronto Area fell 35% in September year on year, however the average price rose 5.9 % from CAD $732,039 in August for the first month-over-month increase since the April record high of CAD $918,285 the Toronto Real Estate Board said Wednesday.
My Take on Inflation by Fed’s Kashkari Hint: Not Same as Yellen’s
Minneapolis Fed President Neel Kashkari starts October with his essay ‘My take on inflation’. While it’s not a real change from him, he argues that the Fed should NOT be rasing until there in inflation and removing accomadation part of the deflation issue.
Banco de México Leaves Rate Unchanged at 7% After Earthquakes
Banco de México, Mexico’s central bank left its benchmark borrowing rate unchanged at 7% as expected. The vote was unaminous with impacts from recent earthquakes and the inflation risks subsiding.
Tax Reform, Cuts To Be Retroactive – Mnuchin
At all time highs U.S. stock markets have put it all on red on Tax reform with the Trump Adminstration. U.S. Treasury Secretary Mnuchin is out with the spin on the plan and his outlook. Highlights on states, growth and debt follow. The big one, he wants the tax cuts to be retrospective.
Need To Look at Impact of Low Interest Rates on Savers – PM May
The British Prime Minister speaking at the Bank of England conference reminded of the nature of unintended consequences when actions to solve one problem can create others. She is talking about Brexit but could well be allusing to the Boeing-Bombardier fallout.
Positive NAFTA Talks Continue Despite Bombardier Outcry
The NAFTA renegotiation talks completed their third round today in Ottawa, Canada. No surprise the reporters favorite topic, the US imposing 220% duty on Bombardier planes. Negotiators from Canada, Mexico and the U.S. were all positive and look forward to round 4.