October 20, 2016
The Wall Street expression that “markets climb a wall of worry” was certainly true during the third quarter. Despite Brexit, the opening of a contentious U.S. presidential election, a spike in interest rates, scattered police and racial violence, and another quarter of negative earnings growth, broad equity markets turned in one of the stronger third quarter performances in recent years.
October 07, 2016
Liquidity, liquidity everywhere except for the foreign exchange market in Asian trading hours overnight. That might seem like an obscure statement, but it has market moving consequences when combined with computer-driven trading programs.