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Tax Turmoil & China Contagion Slam US Stocks, Treasury Yields Tumble

October 30, 2017 Tyler Durden 0

Is it the bears turn now?

 

Chinese bonds and stocks were ugly overnight as the calm of the congress came to an end…

 

Small Caps were slammed today – worst day since August. Nasdaq managed to scramble back to green in the last few mins, but failed to hold it…

 

Small Caps (and the rest of the market) are catching down to their decoupled volatility markets…

 

As hope for meaningful tax-reform disappeared (“gradual” was the key word that disappointed markets…

 

Total chaos reigned in telecoms with rumors about Softbank sending Sprint/T-Mobile tumbling then rebounding…

 

Financials extended their losses from Friday and continued to catch down to the flattening yield curve…

 

Treasury yields extended Friday’s declines – this is now the biggest 2-day drop in 10Y yields since June…

 

The long-bond was rallying all day but yields extended their drop when Tresury Sec Mnuchin commented that ultra-long issuance lacked demand…

 

The Dollar Index extended Friday’s losses…

 

Dollar weakness prompted gold strength…

 

WTI clung to gain today (as RBOB leaked lower) amid more jawboning from OPEC/Saudis…

 

Bitcoin hit a new record high at $6300…

 

And finally, the most extreme positioning ever…

Most extreme bullish positioning in Rydex history: pic.twitter.com/384R9sh6Ct

— Jesse Felder (@jessefelder) October 30, 2017

“probably nothing”

 

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Khartoum, Juba to set up demilitarized zone on border

October 30, 2017 Middle East Monitor 0

Sudan and South Sudan have agreed to reactivate a bilateral security agreement — following a five-year hiatus — that calls for the establishment of a demilitarized zone (DMZ) along their shared borders. The border between the two African states has remained tense due to ongoing disputes over demarcation and tit-for-tat accusations of support for rebel groups. At a Monday joint press conference in Khartoum, Sudanese Defense Minister Ahmed Awad ibn Auf said the two countries had agreed to redeploy their forces away from the border to allow for the establishment of a 20-kilometer-wide DMZ. “We have also agreed to open four crossing points [along the border] to facilitate the free flow of commercial goods,” ibn Auf said. South Sudanese Defense […]

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Iraqi Pipeline Disruption Takes 250,000 Bpd Off The Market

October 30, 2017 Tsvetana Paraskova 0

Crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan early on Monday local time, Bloomberg reports, citing a port agent. According to a Kurdish shipping source who spoke to Reuters, the flows resumed on Monday after a technical stoppage for several hours that had completely halted the flow of crude. The flow was still reduced to 200,000-220,000 bpd, according to the source. The typical flow of the pipeline is some 600,000 bpd, and it…

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What’s in a Name? Adding ‘Blockchain’ Boosted This Company’s Stock Price by Over 430%

October 30, 2017 jack 0

An interesting story came to light over the weekend, concerning a UK company whose share-price literally (i.e. figuratively) jumped out of its skin following a slight name change. That name change? From On-line Plc to On-line Blockchain Plc. Has the world really gone THIS crazy… again? Out of its Skin? Okay, I guess I owe you the numbers, but for me, that’s the least interesting aspect of this story. Anyway, the price has been ticking along at<br />Read More<br />The post What’s in a Name? Adding ‘Blockchain’ Boosted This Company’s Stock Price by Over 430% appeared first on Bitcoinist.com.

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Former US Presidential Candidate Ron Paul: “Government should stay out of” Bitcoin

October 30, 2017 C. Edward Kelso 0

Former US Presidential Candidate Ron Paul: "Government should stay out of" BitcoinFormer presidential candidate Ron Paul recently urged legalization of all competing currencies, crypto and otherwise, during a televised phone interview. He discussed his views on prices going forward, particularly of gold versus the dollar, and warned about government involvement with regard to the world’s most popular cryptocurrency, bitcoin.   Also read: Kansas Governmental Ethics Commission Forbids Bitcoin Campaign […]

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