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BIS Points Finger at Yellen, Draghi: Warns About "Unthinkably" Low Interest Rates, Bond Market "Dislocations" In it latest quarterly report, the BIS (Bank of International Settlements), pointed a direct finger at Fed chair Janet Yellen with an even bigger point at ECB president Mario Draghi.
See more here: Monthly Macro Update November: Mish Video With Gordon Long
So Mario Draghi followed up with a new pledge ‘No limit’ to ECB Action to Hit Targets . The ECB pledged on Thursday to continue its €60bn-a-month bond buying quantitative easing plan until March 2017 and cut a key interest rate to a fresh record low of minus 0.3 per cent. But the measures disappointed investors that have come to rely on Mr Draghi to smash expectations, with a broad market sell-off after the ECB failed to deliver deeper cuts and an increase in the pace of QE.
See the article here: Obama: "California Shooting Could be Terrorism"; Massive Weapons Arsenal Found; Suspects Radicalized in Trip to Pakistan
Follow this link: Dollar Surges, Bonds Sink as ECB’s Rate Cut to -0.3% and Pledge of More QE Until March…
See original article: Factory Orders Bounce In-Line With Expectations; Autos Surprise to the Downside
Link: Yellen Yap: Dollar Briefly Takes Out March High, Surging to Level Last Seen March 2003; For What It’s Worth
US News reports US Construction Spending Jumps to 8-Year High, Lifted by Home Building, Federal Government .
Visit site: Chicago PMI Contracts Again, 6th Time in 10 Months; Service Economy Poised for a Big Slowdown?
The Guardian reports, John McCain and Lindsey Graham call for 20,000 troops in Syria and Iraq . Two senior senators called on Sunday for Washington to nearly triple military force levels in Iraq to 10,000 and send an equal number of troops to Syria as part of a multinational ground force to counter Islamic State in both countries. McCain, chairman of the Senate armed services committee, recently proposed intervention in Syria by a European and Arab ground force backed by 10,000 US military advisers and trainers.