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One Belt, One Road, One Direction for Precious Metals

One Belt, One Road, One Direction for Precious Metals

China's launch several years ago…

Stocks Fail to Hold Gains, But Still No Correction

Stocks Fail to Hold Gains, But Still No Correction

The U.S stock market indexes…

Why The Next Oil Boom Will Be Fueled By Blockchain

Why The Next Oil Boom Will Be Fueled By Blockchain

As blockchain tech works its…

On the Horizon: The Day Ahead: October 15, 2008

Day In Review:

• US announces $250bln plan to rescue banking system and FDIC stated it would fully guarantee newly issued, senor unsecured debt from select banks

• Market responds positively to response, but equities retrace on only modest improvement in LIBOR, concern about corporate earnings and economic conditions going forward

• Yields on Fannie Mae and Freddie Mac corporate debt widened on the back of the government guarantee of banks

• Bank of New York Mellon was named by the US Treasury to provide custodial services to administer TARP program

• ECB President Trichet urged policymakers to restore the discipline that characterized markets in the immediate post WW-II world. Trichet implied that slower growth in the EU region may pave the way for further rate cuts.

Day Ahead:

• Major event risk for the day will be the resetting of LIBOR fixings and the LIBOR-OIS spread. We expect price action in markets to be shaped by where LIBOR and credit spreads settle

• Fed Chair Ben Bernanke will speak before the Economic Club of New York on the economic outlook and the financial markets

• Heavy slate of macro-data on tap will include the PPI, advance retail sales, and Empire Manufacturing Survey all for September

 

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