Shares plunge 25% You probably haven’t heard of Bank OZK. It was formerly called Bank of the Ozarks but it’s best known as a major US commercial real estate lender, growing dramatically in the past 20 years.
Italy downgraded There was fear of a two-notch downgraded, which would have put it below the junk threshold. Instead, it gets a stable outlook, which means the chance of another downgrade in the near-term is low.
The Commitments of Traders weekly CFTC futures forex positioning data: None of the moves were too dramatic but the theme was fewer bets against the pound and yen with expanding bets against the euro. The New Zealand dollar shorts were caught offside this week.
The Old Lady of Threadneedle Street The Bank of England has been at the same location in the hear of the City of London since 1734. The stone complex fills an entire block with its entrance on Threadneedle St.
Can’t get outta the woods The Nasdaq and S&P could not really get out of the woods () and now traders are throwing in the towel a bit. see warning here
Closing changes for the main European equity markets: On the week: – UK FTSE 100 -4.3% – German DAX -4.9% – Italy MIB -5.3% – French CAC -4.9% – Spain IBEX -3.8% Ugly stuff, right across the board. After mounting a comeback, European stocks gave it all up in the final stretch of trading.
Up 2.05% but…. The stocks in the US are higher but off the highest levels. The Nasdaq is up 151 points or 2.07% at 7480. The high reached 7513.69. That move took the price back above a trend line at 7485, and the 200 day MA at 7503.25. However, the price has dipped back lower…
The latest NY Fed tracker – Q3 tracker to 2.25% from 2.27% – Q4 to 2.77% from 2.80% The first look at Q3 GDP is due on October 26 and the consensus currently puts it at 3.2%.
I was at BNNBloomberg’s studios The latest round of risk aversion has upended many of the traditional correlations. I look at why and what’s worth worrying about, and what isn’t.
High at 25467. Trades to a new low at 25028 The Dow is now trading in the red, down -28 points at 25021. The high reached 25467. At the high, the index was up over 400 points. The range today in the Dow 30 is about 450 points.