Friday, September 25, 2015

Today's Headlines

Posted by Gary .....at 2:15 PM
Bloomberg:   
  • China's Stocks Fall as Capital Outflows Hit Record in August. China’s stocks capped a weekly loss after capital outflows hit a record and concern grew the nation’s economic slowdown is worsening and the government is scaling back support for equities. The Shanghai Composite Index dropped 1.6 percent to 3,092.35 at the close, wiping out this week’s gain. About eight stocks slid for every one that advanced as trading volumes tumbled 33 percent from the 30-day average. An estimated $141.66 billion left China in August, exceeding the previous record of $124.62 billion in July, data compiled by Bloomberg show. Technology stocks, the best performers this week, slumped the most among industry groups.Trading on China’s stock market is waning before a week-long holiday shutdown that starts on Oct. 1.  
  • Obama Will Hit You 'Like a Pack of Hyenas,' Chinese Warn Xi on the Web. Leader's visit brings out the drive-by commenters, who call U.S. a 'bully nation,' then turn their scorn on their own government. That ambivalence is on display in China’s blogosphere, where explosions of patriotic outrage at how Xi's American hosts are treating him are mixed with sarcastic references to the Chinese government as censor and leader of a nation of copycats.   
  • Mexico -- Not China or Brazil -- Is Stock Bears' Biggest Target. The world’s stock investors have crowned Mexico their favorite market to bet against. Short interest in BlackRock’s $1.2 billion iShares MSCI Mexico Capped ETF is at more than 40 percent of shares outstanding, compared with 13 percent at the start of May, the most among more than 1,100 exchange-traded-funds tracked by Bloomberg with at least a $300 million market cap. By that measure, traders are the most bearish on Mexican stocks since February 2009, according to data compiled by Markit.
  • European Bonds Slide After Yellen Signals Rate Liftoff in 2015. Europe’s government bonds followed Treasuries lower after Federal Reserve Chair Janet Yellen confirmed the U.S. central bank is poised to raise interest rates this year. Longer-dated debt underperformed, with the yield on 10-year German bunds, Europe’s benchmark sovereign securities, climbing from the lowest in a month. Yellen said in a speech Thursday that she and most other Fed policy makers anticipate lifting rates by year-end. Euro-zone bonds rallied at the end of last week after the Fed kept its key rate at a record low and as speculation built that the European Central Bank would expand its asset-purchase program to boost inflation.
  • European Stocks Rebound as Yellen Clarifies Fed Rate Policy. European stocks jumped from an eight-month low after Federal Reserve Chair Janet Yellen said she’s ready to raise rates this year, indicating recent market turmoil won’t derail the U.S. recovery. Her comments helped clarify the Fed’s thinking, after the central bank’s decision to hold rates last week confused investors about the trajectory of U.S. rates and increased stock volatility. Following a selloff yesterday that wiped out its 2015 gains, the Stoxx Europe 600 Index closed 2.8 percent higher today.
  • Treasury Notes Fall as Yellen Sees Fed Rate Increase This Year. Treasury notes fell, extending this week’s pattern of alternating between gains and losses, after Federal Reserve Chair Janet Yellen said the central bank is poised to raise interest rates this year. Yields on shorter maturities, which are among the most sensitive to what the Fed does with its benchmark rate, rose as Yellen said in a speech Thursday that most policy makers including herself anticipate increasing rates by year-end. Government bonds from the U.K. and Germany also fell. Treasuries remained lower after a report showed the U.S. economy expanded more than previously forecast in the second quarter. “Yellen’s comments were a reminder that, although the tone may have been softer than expected at the last meeting, her own view is that she expects them to hike this year,” said Allan von Mehren, chief analyst at Danske Bank A/S in Copenhagen. “Maybe the market was starting to doubt that.”
  • Google(GOOG) Said to Be Under U.S. Antitrust Scrutiny Over Android. Google Inc. is back under U.S. antitrust scrutiny as officials ask whether the tech giant stifled competitors’ access to its Android mobile-operating system, said two people familiar with the matter. The Federal Trade Commission reached an agreement with the Justice Department to spearhead an investigation of Google’s Android business, the people said. FTC officials have met with technology company representatives who say Google gives priority to its own services on the Android platform, while restricting others, added the people, who asked for anonymity because the matter is confidential.
Wall Street Journal:
  • Emerging Markets Go From Bad to Worse. A gauge of emerging-market currencies has fallen to its lowest level in six years. Currencies in emerging markets have taken a turn for the worse, with no signs of reprieve. The Malaysian ringgit plumbed new lows Friday, on track for its largest weekly loss in nearly two decades, while Indonesia’s rupiah fell to a fresh 17-year low, following steep declines in other emerging market currencies earlier in the week. The MSCI Emerging Market Currency Index, a broad gauge of emerging-market...
Fox News:
  • Boehner announces resignation, stuns Congress. (video) Whether it was "the right time," or a desire to end "this prolonged leadership turmoil" in the House -- or both -- John Boehner's bombshell announcement Friday to resign as speaker and leave Congress at the end of October had all the markings of a self-described "regular guy with a big job." "Yep," Boehner told reporters, describing the sequence of events leading up to his decision -- which included a morning walk to Starbucks and a stop at the neighborhood diner -- "I think today's the day."
Zero Hedge:
Telegraph:

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