A wave of selling sweeping across bond markets resumed on Monday as investors continued to digest the impact of a Donald Trump presidency.

US and European bond prices have sunk in expectation that he will enact inflationary policies that speed the pace of interest rate rises.

Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – Bonds sell-off continues as investors bet on rate rise

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The thing is: We’d never know it anyway.

In a note to clients out Tuesday, Bank of America Merrill Lynch said there’s a 20%-50% chance that we’re living in the matrix — meaning that the world we experience as “real” is actually just a simulation.

The firm cites comments from Elon Musk, Neil deGrasse Tyson, and Nick Bostrom’s seminal paper on the issue as the basis for its 20%-50% view.

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Despite the post-Brexit market rally, fund managers have gotten even more wary of taking risks.

The S&P 500 has jumped about 8.5 percent since the lows hit in the days after Britain’s move to leave the European Union, but that hasn’t assuaged professional investors. Cash levels are now at 5.8 percent of portfolios, up a notch from June and at the highest levels since November 2001, according to the latest Bank of America Merrill Lynch Fund Manager Survey.

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Questions are growing over the financial health of banks, particularly in Europe and the U.S., as they face a toxic mix of low economic growth, bad loans and squeezed earnings.

France’s Societe Generale became Thursday the latest bank to issue a confidence-shattering profit warning, which helped trigger a new sell-off in financial stocks. The bank saw its share price stumble 12 percent and major rivals like Deutsche Bank and UniCredit saw losses of nearly 10 percent.

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