Bill Fleckenstein's picture

Mario Draghi came as close to the “full Monty” as he possibly could by cutting interest rates 10 basis points to a measly five basis points, and increasing the negative deposit facility rate to -20 basis points. In addition, he promised to begin buying about $400 billion worth of asset-backed securities in about a month.

Doug Short's picture

Today the Institute for Supply Management published its latest Non-Manufacturing Report. The headline NMI Composite Index is at 59.6 percent, up from last month's 58.7 percent and another record high for this relatively new indicator...

Chris Puplava's picture

Given the prior inflationary move seen earlier in the year, it is likely we should expect a moderation in economic momentum that has been building since Q1 of this year. Should growth moderate we are likely to see more economic releases surprise to the downside.

Marc Chandler's picture

After much fanfare, the ECB has surprised the market. It delivered a 10 bp cut in key rates and committed itself to a ABS/covered bond purchase scheme to start next month. The euro sold off, dragging down other European currencies, and sparked...

Marc Chandler's picture

There has been a clear divergence since the start of the year. Briefly, in January, the eurozone reading rose above the U.S.. This has not happened before...

Keith Weiner's picture

Readers have been asking if there has been any signs of a turn in the market, especially for silver. Something may be happening. Read on…

Michael Pettis's picture

I have always thought that the soft landing/hard landing debate wholly misses the point when it comes to China’s economic prospects. It confuses the kinds of market-based adjustments we are likely to see in the U.S. or Europe with the much more controlled process we see in China.

Doug Short's picture

The Final University of Michigan Consumer Sentiment for August came in at 82.5, a bounce back from the 79.2 preliminary reading and its highest level since the April final. Today's number topped the Investing.com forecast of 80.1.

Charles Hugh Smith's picture

Attending costly games is on the margins of the household budget. When the credit card gets maxed out, attending is no longer an option.

Robert Rapier's picture

Global biofuel production falls primarily into three categories; ethanol, biodiesel, and hydrotreated vegetable oil (HVO), also known as “green diesel.” Of the 30.8 billion gallons (116.6 liters) of biofuel produced globally in 2013, 23 billion gallons (75%) were ethanol.

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