Financial Markets and Economy
Federal Reserve may deliver another September surprise (Anthony Mirhaydari, The Fiscal Times)
Once again, the very fate of Western civilization depends on a September policy decision by the Federal Reserve.
Ok, so it’s not quite that momentous, but after raising interest rates last December for the first time since 2006, all eyes really are on Fed Chair Janet Yellen and her cohorts to see if they will hike rates again later this month.
U.K. Banks Slash Mortgage Rates to Records After BOE Stimulus (Bloomberg)
U.K. mortgage rates fell to records in August, a sign the Bank of England’s stimulus measures are reaching the economy.
Canada Stocks Halt 3-Day Gain as Bank of Canada Warns on Economy (Bloomberg)
Canadian stocks slipped after a three-day advance as a rally in materials producers faltered and consumer shares slumped after the Bank of Canada warned risks of weak inflation and slower economic growth have increased.
ECB to unveil guidelines for banks to work down bad debt: Nouy (Reuters)
The European Central Bank will soon unveil proposed guidelines for banks to work down their pile of bad debt but expects the process for reducing non-performing loans to be lengthy, ECB bank supervisor Daniele Nouy said on Wednesday.
Why This Niche Bank Is One of Our Favorites (Fool.com)
Silicon Valley Bank (NASDAQ: SIVB) isn't your ordinary bank. Instead of focusing broadly on people who need checking accounts and loans, it specializes in the technology industry, acting as the banker to start-up companies as well as to entrepreneurs such as Mark Zuckerberg, the founder and CEO of Facebook.
Cities With the Biggest Return on Home Value in the Past 30 Years (Two Cents)
Contrary to popular belief, real estate barely outpaces inflation over time. On the other hand, it’s hard to make generalizations like this because some areas have seen huge returns in housing. Trulia looked at 100 metro areas to find the places with the highest and lowest home appreciation values.
Joseph Stiglitz says Portugal should leave the euro (Joseph Stiglitz)
The Nobel Economics, Joseph Stiglitz, advised Portugal to leave the euro. In an interview with Antena 1, the US economist says there is no political conditions in Europe to make the necessary reforms. So, Stiglitz says it best Portugal prepare a "friendly divorce" of the single currency as the "future growth in Portugal is at risk."
"It Won't Be Long Now" David Stockman Warns "The End Game Of Central Banking Is Nigh" (David Stockman's Contra Corner)
As I previously indicated, the book is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition.
BofA: "Bad News Is Good News Has Played Out", Any More Weak Data "Will Be Met With Market Skepticism" (Zero Hedge)
Unlike Morgan Stanley's Adam Parker, who yesterday opted to flip back from bearish to bullish after previously berating and mocking those would blindly buy this "market" (even as he boosted his target S&P500 P/E multiple from 18x to 19x in the "bullish" case), one of our favorite junk bond analysts, BofA's Michael Contopoulos refuses to throw in the towel.
IMF Concedes Central Banks Are Doomed (Armstrong Economics)
The International Monetary Fund (IMF) has warned at the G20 summit in Hangzhou, China, that in the face of crises, the refusal to reform how things are functioning will lead to economic weakness in the global economy. “The latest data show subdued activity, less growth in trade and a very low inflation, suggesting an even weaker global economic growth this year,” the IMF told G20 leaders.
The Value Of Corporate Venture Arms (Forbes)
The rise in corporate venture capital (CVC) has created a new dynamic in the investment ecosystem. Companies have had their eyes opened to a “new” source of capital with CVCs (the ins-and-outs of which, I’ve defined here); however, there is far less discussion on why an established company should or would engage in corporate venture.
Italy Funding Panic? Target2 Liabilities Unexpectedly Soar To Record High (Zero Hedge)
During the peak days of the European credit crisis in 2011 and 2012, one of the unfalsifiable indicators used by market watchers to observe the state of Italy's banking system and regional fund flows (mostly outflows from the periphery, inflows into Germany and northern states), was the monthly Target2 balance.
8 Real Estate Market Trends in 2016 (Mishvisor)
Maybe you are thinking about buying a home or selling your current one? Or you are considering investing in real estate? Then, you need to know the current real estate market trends in order to be able to make a reasonable decision.
What Wall Street Expects From The ECB Tomorrow, And How Will The Market React (Zero Hedge)
While there have been various trial balloons in recent days, hinting that the ECB could start purchasing equities, most notably by the Peterson Insitute, it is unlikely that Mario Draghi will commence outright monetization of ETFs at the ECB's meeting tomorrow.
Politics
Mexico finance secretary resigns after Trump visit (Associated Press)
MEXICO CITY (AP) — One of President Enrique Pena Nieto's closest advisers and confidants, Finance Secretary Luis Videgaray, has resigned in a move seen as linked to the unpopular decision to invite Republican presidential candidate Donald Trump to visit Mexico.
Hillary Clinton has a new defense to tackle questions on her handling of classified information (Business Insider)
Hillary Clinton seemed to debut a new defense at NBC’s Commander-In-Chief Forum Wednesday evening for how she handled classified information as secretary of state.
Yemen foreign minister urges more support for fight against militia foes (Reuters)
Yemeni Foreign Minister Abdel-Malek al-Mekhlafi on Wednesday urged the international community to step up its support of his government in its fight against the armed Houthi movement, and to help combat arms smuggling from Iran and elsewhere.
Hillary Clinton and Donald Trump’s Unsatisfying Clash (TIME)
The candidates duel over national security, but fire mostly blanks
After months of what the military calls stand-off attacks, launched from a distance, Hillary Clinton and Donald Trump finally met on the same stage Wednesday night for hand-to-hand combat.
Clinton, Trump Discuss National Security & Veterans Issues At 'Commander-In-Chief' Forum (Zero Hedge)
NBC and the Iraq and Afghanistan Veterans of America (IAVA) are co-hosting The Commander-in-Chief forum tonight in New York City beginning at 8pm EST.
Technology
Delivery vans containing individual ground-based drones may be the future of home deliveries – and they're set to hit the streets in their first tests.
Samsung Calls Note 7 Recall Cost to Company 'Heartbreaking' (MacRumors)
The president of Samsung has confessed that recalling 2.5 million of its Galaxy Note 7 smartphones will cost the company a "heartbreaking amount".
Callblock’s new iOS app will block calls from over 2 million telemarketers (Tech Crunch)
A new application, Callblock, coming to the iTunes App Store, claims to block phone calls from over 2 million telemarketers by type, including things like robocallers, debt collectors, political campaigners, scammers, and more.
Everything Apple announced at today’s iPhone 7 launch event (The Next Web)
Kicking off with a cameo from talk show host James Corden and Pharrell driving Tim Cook to the event, Apple took a straightforward approach to promo’ing its new show: Carpool Karaoke. Cook segued nicely from Corden’s car to the main stage and detailed Apple Music’s new look and its 17 million users.
iPhone 7 Cameras: Samples and everything you need to know (The Next Web)
Apple is changing the ways you’ll take photos with the iPhone 7. While the smaller model includes fairly standard generational improvements, the iPhone 7 Plus brings some truly innovative features.
Smartphones Grow As Dominant Form of Internet Access (Marketing Charts)
While traditional TV (live + DVR/time-shifted TV) and AM/FM radio still have the widest monthly reach of any media among Americans, the biggest trend emerging from Nielsen’s latest look at the media universe (since updated to only analyze adults) is the internet’s reach – including video and social – moving more heavily to mobile.
That Samsung fridge on your holiday list could be stuck at sea (CNet)
Up to $38 million of Samsung's products are stranded out at sea in California, and it could cost the company even more to get them back in time for the holidays.
Health and Life Sciences
Zika Funding Fails Again in Congress (NBC News)
Congress came back from a seven-week break Tuesday and once again failed to move forward a bill that would pay for a federal Zika response.
PillPack Is Raising More Money to Take On Pharmacies (Fortune)
The ‘up round’ would value the startup at over $350 million.
Online pharmacy startup PillPack is raising new venture capital funding at around a $330 million pre-money valuation, Fortune has learned.
Life on the Home Planet
Dutchman dies in Tesla crash; firefighters feared electrocution (Reuters)
A Dutchman died on Wednesday after his Tesla (TSLA.O) collided with a tree, according to local authorities, and it took firefighters hours to remove his body from the vehicle due to fears they could be electrocuted.
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Homes for Everyone (Up Standers)
There were times, a decade ago, when the Road Home, the largest homeless shelter in Salt Lake City, was so full that families trying to bring their children in from the streets for the night would be turned away.
Three giant exoplanets found orbiting twin stars (CNN)
(CNN) It's beginning to look a lot like Star Wars in our universe. Ours just happens to have even more Tatooine-like planets attached to multiple stars.
Party lines split U.S. on terror threat 15 years after 9/11: poll (Reuters)
With the 15th anniversary of the 9/11 attacks nearing, Americans are sharply divided on party lines over the threat of a major terrorist attack on the United States, according to a poll released on Wednesday.
A Glimmer of Hope Opens for Syrian Rebels As Peace Talks Intensify (TIME)
Is a real Syrian ceasefire possible?
When Turkish tanks and warplanes crossed into Syria to help rebels retake the town of Jarabulus from ISIS on August 24, Syrian refugees at a camp just north of the border celebrated.
