There Are 199,235 "Ultra High Net Worth" People In The World With Over $30 Million In Assets

It is no secret that the bulk of “very rich people” in recent years has been created in Asia (where some $15 trillion in liquidity has entered broad circulation in just the past five years). As the FT reports, “Asia is producing more new wealth than an… [...]

Frontrunning: November 29

So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters) Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG) FX to Libor Probes Leave U.K. Traders Looking for Lawyers (BBG) Pro… [...]

BofAML’s Top 10 Emerging Market Risks In 2014

While moderate recovery in growth and inflation is BofAML’s rates team’s base case, there are numerous risks to that forecast. The risk of tapering is already quite well known and they suspect it may not result in the significant market-moving event ma… [...]

Venezuela Denies Goldman’s Gold Deal As Inflation Tops 54%

Today’s AM fix was USD 1,241.75, EUR 913.11 and GBP 760.45 per ounce. Yesterday’s AM fix was USD 1,250.75, EUR 923.88 and GBP 773.69 per ounce. Gold fell $4.10 or 0.33% yesterday, closing at $1,236.33/oz. Silver slid $0.17 or 0.86% closing at $19.6… [...]

Frontrunning: November 27

Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters) Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG) Private equity keeps $789bn of powder dry (FT) – because they are “selling everything that is not nailed down” Merke… [...]

The Punch Line: The Complete Macroeconomic Summary And All The Chart To Go With It

From Abe Gulkowitz’ The Punch Line Meager Growth but the Market Roars… An interim deal on Iran’s nuclear program pushed oil prices lower and sent global equities higher as investors’ risk appetite rose on an easing of some Middle East tensions. A… [...]

Developments Cast Pall Over Dollar

The near-term fundamental considerations for the dollar have turned more negative.  Two developments last week that had bolstered the dollar are being rethought.     First, the Bloomberg report that cited to unidentified people close to … [...]

Goldman’s Top Ten 2014 Market Themes

The following Top Ten Market Themes, represent the broad list of macro themes from Goldman Sachs' economic outlook that they think will dominate markets in 2014. Showtime for the US/DM Recovery Forward guidance harder in an above-trend world Earn … [...]

Second Try At 16000, 1800 And 4000… Just Keep Icahn Away From Twitter

It is time for the centrally-planned markets to “try” for the round number trifecta of 16000, 1800 and 4000 again, although it may be a tad more difficult on a day in which there is no double POMO and just $2.75-$3.50 billion will be injected by the NY… [...]

Guest Post: Understanding China’s Arctic Policies

Submitted by Arthur Guschin via The Diplomat, Within the last seven years 11 countries (Poland (2006), Russia (2008), Finland (2009), France (2009), Sweden (2010), Iceland (2011), Spain (2011), Denmark (2012), Singapore (2012), Canada (2012) and Japan … [...]