09-10-2017, 11:33 PM
When the head of major financial institution voices his or her concerns over the market, investors tend to sit up and listen. More often than not the signs have been there all along, but in today's increasing frenetic society it takes a "voice from on high" to catch people's attention. That's what happened earlier this week when speaking at a conference in Germany, Goldman Sachs (GS - Get Report) CEO Lloyd Blankfein shared that he was "unnerved" by things going on in stock market. The comment, which came at the end of the question and answer session of his presentation, amounted to the following: "Things have been going up for too long," he told attendees at a Handelsblatt business conference in Frankfurt. "When yields on corporate bonds are lower than dividends on stocks? That unnerves me."
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The big question for market players this morning is whether the news flow is going to increase market volatility in the S&P 500 ETF, SPDR Dow Jones Industrial Average and the PowerShares Nasdaq ETF. The biggest trading challenge recently has been the limited reaction to news events. Despite the North Korean situation, two major hurricanes, political chaos in Washington, central banker rumination and seasonal weakness, the indices remain quite sedate. The pattern for a while has been a one-day selloff followed by a quick recovery and then very limited volatility. The dips create some hope that we will finally see increased volatility, but it dries up quickly and we end up with action such as Thursday when the indices barely budged and breadth was dead flat. The bears use this action to predict that the market is set up for the long-awaited correction, but they keep waiting for it to come to fruition. The market keeps shrugging off the bearish arguments and the computer algorithms continue to operate with a bullish bias.
Robots Might Be Biggest Obstacle for Stock Market Bears - TheStreet
The Bitcoin Investment Trust Shares have increased 10-fold in value in the last twelve months, gaining more than 80 percent in the last three months alone. Meanwhile, SPDR Gold shares are down 0.68 percent in the last twelve months and up 3.19 percent in the last three months.
Try Hamburg. For years, locals celebrated Amsterdam’s moniker: “the Venice of the North.” Now they see it as a warning cry. The city of 850,000 welcomed 17 million visitors last year, and politicians have halted hotel development (and put strict regulations on Airbnb, while also slashing the tourism office’s marketing budget) to limit noisy, beer-guzzling tourists and maintain quality of life for residents. The port city of Hamburg, meanwhile, is just starting to register for global travelers. Like Amsterdam, its old city flanks a series of mirror-like canals, its character-packed buildings have brick facades and patinated copper roofs, and narrow bridges are traversed by cars and bikes alike. This historic city core has its undeniable charms, but the more industrial HafenCity area is the new heartbeat of Hamburg: It’s where you’ll find the modern Elbphilharmonie performing arts complex, a handful of concept shops and indie brand flagships, and some of the city’s top tables. Also a good choice: Stockholm, for its Baroque seaside buildings, laid out along a string of picturesque islands.
Want to Avoid Other Tourists When You Travel? Here's Where to Go - Bloomberg
They had a name for it: Merckxissimo. They called him, not affectionately, the Cannibal. When the 24 year old Belgian reached the Velodrome de Vincennes in Paris after 4,118 kms of hard fought racing they gave him the Yellow Jersey – and the Green points jersey, the White combination jersey and the title of King of the Mountains. The red and white jerseys of his Faema team dominated the team classification with their leader winning seven stages on all types of terrain, from the flatlands of the North to the mountains of the South He was over 17 minutes ahead of the two Frenchmen who shared the podium. He was Merckx the Magnificent who won every long time trial in the race; Merckx the Munificent who allowed Pingeon to win the stage to Chamonix; Merckx the Merciless who rode for 140kms alone through the Pyrenees, over the Soulor and the Aubisque, even though he had the overall victory firmly in his pocket. “The idea that the Tour is never won until it reaches Paris is finished – Merckx has shattered that legend” eulogised Jacques Goddet. In his Tour de France debut, the Belgian did not disappoint.
1969: The Birth of Merckxissimo at the Tour of Flanders | 100 Tours 100 Tales