The forum will be led by Stephen A. Schwarzman.
Shortly after Donald Trump picked former Goldman partner Steven Mnuchin as Treasury Secretary, he was rumored to be considering another Goldmanite, current President and COO Gary Cohn - who as reported earlier this week is already contemplating "life after Goldman" - for energy secretary. The follows a previous report that Trump may appoint Cohn as head of the Office of Management and Budget. So, as Trump wonders which other Goldman banker to poach to fully outsource financial management of the US directly to Goldman, a taxpayer-backed hedge fund which has already taken over the world's central banks, he decided to spread the Wall Street love and earlier today announced that he has created an economic panel chaired by Blackstone's Stephen Schwarzmann, whose members will also include such illustrious "non-swampies" as Jamie Dimon and Larry Fink, as well as various other "prominent U.S. business leaders" to get Wall Street's advice on such matters as ... job creation. The President’s Strategic and Policy Forum will begin meeting with Trump in February after his inauguration. From the announcement: President-elect Donald J. Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum, which is composed of some of America’s most highly respected and successful business leaders, will be called upon to meet with the President frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again. The Forum will be chaired by Stephen A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone. Members of the Forum will be charged with providing their individual views to the President – informed by their unique vantage points in the private sector – on how government policy impacts economic growth, job creation, and productivity. The Forum is designed to provide direct input to the President from many of the best and brightest in the business world in a frank, non-bureaucratic, and non-partisan manner. This is the same Schwarzman who during the Republican primaries in October 2015, characterized Trump as "the P.T. Barnum of America." Other members include General Motors Co. chairman and CEO Mary Barra, Cleveland Clinic CEO Toby Cosgrove, Bob Iger of the Walt Disney, Wal-Mart Stores Inc. president and CEO Doug McMillon, and former Boeing Co. chairman James McNerney, as well as the above named Jamie Dimon of JPMorgan Chase and BlackRock Inc.’s Larry Fink, “This forum brings together CEOs and business leaders who know what it takes to create jobs and drive economic growth,” Trump said in a statement issued by Blackstone. “My administration is committed to drawing on private sector expertise and cutting the government red tape that is holding back our businesses from hiring, innovating, and expanding right here in America.” Sadly, it was the private sector's policies, expertise and "advice" to the Obama administration, that led to this particular outcome: It also led to record stock buybacks and all time high stock prices, not to mention record CEO compensation, but surely Trump will see right any such attempts to pass "advice" meant to help the people whose only intention is to make a handful of Wall Street oligarchs even richer... right. Schwarzman, the 69-year-old private equity executive who will chair the forum, said at the Wall Street Journal CEO Council after the election that he is "excited" about the prospects for economic growth in America and expects the business horizon to look "infinitely better" in the next few years. "Things are going to change, and I think things are going to change a lot," he said. He did not refer to Trump by name. In an interview with Bloomberg before the election, Schwarzman said he was undecided between Trump and Clinton. He said the GOP nominee's plans for economic growth sound "wonderful if you could do that," but also expressed concerns about his immigration plans. "If you were really removing a large number of people, that's got to adversely affect the economy," he said. Other panel members are also prominent Clinton fans: Disney's Iger, 65, supported Hillary Clinton during the campaign and co-hosted a fundraiser for her over the summer. However, he too quickly changed his tune in the days following Trump's election, when he said he was "hopeful" about what's to come in an interview with CNBC. "There is going to be far more energy around attacking the tax code, changing the tax code, closing loopholes on corporate taxes and lowering the base," he said. "We're not as competitive as we need to be as a country. I think that is going to be addressed on a timely, meaning a fast basis. That's certainly good." Jim McNerney, former chairman and CEO of Boeing, who is also on the committee, once referred to Trump's rhetoric on trade as "dangerous." The full list of panel members include the following: Stephen A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone Paul Atkins, CEO, Patomak Global Partners, LLC, Former Commissioner of the Securities and Exchange Commission Mary Barra, Chairman and CEO, General Motors Toby Cosgrove, CEO, Cleveland Clinic Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co Larry Fink, Chairman and CEO, BlackRock Bob Iger, Chairman and CEO, The Walt Disney Company Rich Lesser, President and CEO, Boston Consulting Group Doug McMillon, President and CEO, Wal-Mart Stores, Inc. Jim McNerney, Former Chairman, President, and CEO, Boeing Adebayo "Bayo" Ogunlesi, Chairman and Managing Partner, Global Infrastructure Partners Ginni Rometty, Chairman, President, and CEO, IBM Kevin Warsh, Shepard Family Distinguished Visiting Fellow in Economics, Hoover Institute, Former Member of the Board of Governors of the Federal Reserve System Mark Weinberger, Global Chairman and CEO, EY Jack Welch, Former Chairman and CEO, General Electric Daniel Yergin, Pulitzer Prize-winner, Vice Chairman of IHS Markit For some inexplicable reason, Warren Buffett failed to make the list, if only for the time being.
President-elect Donald J. Trump will be bringing the CEOs of America's biggest corporations, banks and investment firms to the White House to regularly hear out their perspectives on how to create jobs and improve growth for the U.S. economy.
Дональд Трамп объявил имя будущего министра финансов США: им станет Стивен Тёрнер Мнучин (Steven Terner Mnuchin). Для кого-то это явилось неожиданностью. Ведь среди претендентов на высокий пост называли исполнительного директора банка JPMorgan Джейми Даймона, члена палаты представителей Джеба Хенсарлинга... У Стивена Мнучина, однако, было важное преимущество: в предвыборной кампании Трампа он работал финансовым менеджером. Кроме того, что самое важное, Мнучин вышел из недр банка Голдман Сакс. Родился Тёрнер Мнучин в состоятельной еврейской семье. Окончил Йель и сразу пошел трудиться в Голдман Сакс, где большую часть своей жизни провёл его отец Роберт Мнучин, сделавший в банке карьеру (стал партнёром) и сколотивший хорошее состояние. Мнучин-младший провёл в стенах Голдман Сакс 17 лет – с 1985 по 2002 год. Работал на направлениях, обеспечивающих основную деятельность банка (контроль, надзор за операциями на рынках муниципальных облигаций, ипотечных бумаг, других рынках и т.п.). В 90-е годы получил статус партнёра банка, что считается большим достижением. Затем стал топ-менеджером Голдман Сакс по вопросам информационного обеспечения.
Дональд Трамп объявил имя будущего министра финансов США: им станет Стивен Тёрнер Мнучин (Steven Terner Mnuchin). Для кого-то это явилось неожиданностью. Ведь среди претендентов на высокий пост называли исполнительного директора банка JPMorgan Джейми Даймона, члена палаты представителей Джеба Хенсарлинга... У Стивена Мнучина, однако, было важное преимущество: в предвыборной кампании Трампа он работал финансовым менеджером. Кроме того, что...
JPMorgan Chase & Co has agreed to pay a total of $264 million to settle charges that it violated the Foreign Corrupt Practices Act. Payments will be made to the U.S. Securities and Exchange Commission, the Justice Department and the Federal Reserve Board of Governors. Appalling conduct According to a Press Release issued by the SEC, during a seven-year period, JP Morgan "hired approximately 100 interns and full-time employees at the request of foreign government officials, enabling the firm to win or retain business resulting in more than $100 million in revenues..." These interns were " typically unqualified for the positions on their own merit', according to Andrew J. Ceresney, Director of the SEC Enforcement Division. They were hired to generate revenues from government officials in the Asia-Pacific region. This bribery scheme was not a casual, informal process. According to an article in The Guardian, it was internally designated as the "sons and daughters" program. The Guardian reported that Citigroup, Goldman Sachs, Morgan Stanley and UBS were also "under scrutiny" for their hiring practices in Asia. A checkered past JPMorgan is no stranger to paying fines and penalties for irregular activity. You can find a list of fines and settlements it has paid, commencing in 2010, here. Its victims include veterans, consumers of electricity, its shareholders, its customers, LIBOR victims, and the trustees of 330 residential mortgage-backed securities trusts. Tempted by profits JPMorgan is probably no more ethically challenged than other major securities firms. The SEC published this list of enforcement actions addressing misconduct that led to or arose from the financial crisis. It's a "who's who" of the best-known members of the securities industry. JP Morgan's illegal conduct wasn't subtle. According to Mr. Ceresney, "JPMorgan employees knew the firm was potentially violating the FCPA yet persisted with the improper hiring program because the business rewards and new deals were deemed too lucrative." They knew, but they didn't care. The potential returns on its "investment" in unqualified (but well-connected) "interns" was just too tempting. Despite this checkered history, JPMorgan's CEO, Jamie Dimon, was quoted in July, 2015 as stating he's "damn proud" of Wall Street. He added that most people are "damn ethical, smart, and create a huge amount of value." As an investor, you have a decision to make about where to entrust your retirement savings. If you decide to retain the services of a Wall Street broker, consider the difficulty of finding someone who is "damn ethical." I don't like your chances. The views of the author are his alone. He is not affiliated with any broker, fund manager or advisory firm. Any data, information and content on this blog is for information purposes only and should not be construed as an offer of advisory services. Get Dan's investing insights by signing up for his free, weekly newsletter here. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
By Thomas Kochan, MIT Sloan School of Management The recent U.S. election exposed two major intersecting fault lines in America that, if left unchecked, could soon produce an era of social and economic upheaval unlike any in our history. First, it revealed deep divisions across racial, ethnic and gender lines that led to a surge in hate crimes last year, particularly against Muslims. Addressing this will require a sustained effort to heal these growing divisions and will be very difficult to resolve without strong leadership and a renewed willingness to listen to each other's concerns. Second, it gave voice to the deep-seated frustrations and anger of those who feel left behind by economic forces and fear their children will experience a lower standard of living than they did. The key to resolving this fault line - and the focus of this article - lies in mobilizing all sectors of society to work together to create good-quality jobs and get wages rising again for all. In short, America needs to build a new social contract based on mutual respect and attuned to the needs of today's workforce and economy. What do I mean by that? A social contract is what ties together the main stakeholders of an economy, its workers, business leaders, educators and government, and ensures each group meets it obligations to each other while also pursuing its own goals. Workers, for example, want good wages and careers and have an obligation to work productively and contribute to the success of their enterprise. Employers have to balance the expectations of investors, employees and customers. Unfortunately, America's social contract broke down in the 1980s when the gap between wage growth and productivity growth first started to appear, creating the conditions that spawned the frustrations we saw on the campaign trail this year. With the election of Donald Trump and a Republican majority in Congress, we should suffer no illusions that the process of building a new one will be led from Washington. But as history teaches us, most social and economic shifts that improve lives don't actually begin with a national policy anyway. Thousands of spectators cheer as over a quarter million marchers show support for the National Recovery Administration (NRA) in a parade on Fifth Ave. in New York City on Sept. 13, 1933. AP Photo 'Laboratories for democracy' Supreme Court Justice Louis Brandeis famously called states our "laboratories for democracy," places where innovations and social movements are born and tested for their ability to address emerging tensions and show how to turn them into national policies. That was how America's last social contract, which grew out of the New Deal, began. The policies that composed it didn't start with President Franklin Delano Roosevelt's signature legislation establishing unemployment insurance, social security, disability pay, collective bargaining and minimum wages. Rather, workers themselves laid the groundwork in the first few decades of the 20th century, when Sidney Hillman, then the leader of the Amalgamated Clothing Workers Union, organized immigrants and developed the basic principles of collective bargaining. States like Wisconsin, Massachusetts and New York, pressed by labor activists, enacted unemployment insurance, minimum wages and overtime protections. John R. Commons, who taught at the University of Wisconsin, has been called the intellectual father of the New Deal because he and his students helped shape and study these state-level innovations. They then went to Washington to help President Roosevelt write them into the laws that helped end the Great Depression and laid the foundation for an expanding middle class. Changes like this rarely if ever begin in the corridors of power. They begin with just a few people, such as Susan B. Anthony and Carrie Chapman Catt, who led the suffragettes movement to get women the right to vote. Unfortunately, the social contract broke down in the 1980s amid deregulation, attacks on unions, growing globalization and a deep recession that decimated Rust Belt manufacturing industries. The failure to replace it is a root cause, I would argue, of the wage stagnation, anger and political divisions the election brought to the fore. President Roosevelt signed the Farm Relief-Inflationary Bill, which gave him extraordinary powers over monetary inflation as part of the New Deal, on May 12, 1933. AP Photo Workers at the forefront With the election in the rear-view mirror, it is now time to begin the long process of building a new social contract that fits today's economy, workforce and society, one that gives a genuine voice to the frustrated and channels their anger into action. The good news is we are already well on our way, with many grassroots innovations across society that, if accelerated and expanded, could identify and shape its key features. The workforce itself is leading the way, with the help of labor organizations, community coalitions and what we might call "worker-centered entrepreneurs." Consider the Fight for 15, referring to efforts to secure a US$15 minimum wage. Its first visible victory was achieved in 2015 in Seattle. The strong public support there sent shock waves around the country, leading another 18 states to increase their minimum wages, including four in last week's election. These developments also pressured traditionally low-wage companies like Wal-Mart, McDonald's and the Gap to increase entry-level pay above the required federal or state minimums. IKEA has gone a step further in committing to pay a "living wage" (as calculated by a MIT research tool) in all its U.S. locations. Other new advocacy groups like Coworkers.org are using information campaigns and social media and other technology-aided apps to induce companies like Starbucks to reform scheduling practices to provide more advance notice and certainty over work schedules. Unions and worker centers around the country are battling wage theft (failure to pay minimum wages or overtime), expanding training programs to more women, minorities and immigrants and supporting efforts to promote "common sense" economic strategies that provide good entry-level jobs, wages and career ladders. Finally, a number of entrepreneurial ventures are emerging around the country such as the Workers' Lab, an incubator that supports start-up nonprofits that are specifically designed to build new sources of bargaining power for worker and contractors. For example, Uber drivers in New York City and Seattle are beginning to organize into unions and guilds to gain a voice in the terms governing their compensation. Out of these and still yet-to-be-invented strategies may emerge a techno-savvy, grassroots labor movement for the next generation. Activist like this one helped convince four more states to increase their minimum wages this year. AP Photo/Andrew Harnik How business can help Business leaders, for their part, are beginning to get the message that the era of prioritizing shareholders over all else needs to end. None other than JPMorgan Chase CEO Jamie Dimon, one of Wall Street's most respected titans, said last summer that he would raise his employees' wages because doing so is a good long-term investment. He and his peers should use the same logic when they advise clients. By emphasizing long-term investing, they could help end the short-termism that has held back corporations from investing in workforce training and research and development - so essential to job creation. Wall Street could also help lead the way and perhaps in concert with labor by creating infrastructure funds to help rebuild our roads and bridges, generating a good rate of return for their investors and the economy. Leaders from many groups - including President-elect Trump - recognize the need and value of repairing the nation's infrastructure. This is a perfect opportunity to demonstrate the power of bipartisanship, public-private partnerships and business-labor cooperation. Some main street business leaders are already doing their part by competing on the basis of high-productivity, high-wage strategies that research shows achieve both strong profits and create and sustain good jobs for American workers. Jamie Dimon said he gave his workers a raise because he believes doing so is a smart investment. Photo by Paul Morigi/Invision for JPMorgan Chase & Co./AP Images The role of education In today's knowledge-based economy, education leaders need to be counted as among the key stakeholders critical to building and sustaining a new social contract. They and some philanthropic leaders active in funding education innovations are embracing what evidence tells us: There is nothing more important to educational attainment than a good teacher. And in states as diverse as Massachusetts, New Jersey and Illinois, teacher unions and education leaders are working together to expand learning time, support teacher development and encourage online courses aimed at helping workers refresh their skills in a world of fast-paced change. These efforts should be extended across the country. If knowledge is power, then these educational innovations will equip today's and tomorrow's workforce with the tools they need to meet the challenges they are bound to experience over the course of their careers. Seeds of a new social contract So these are some of the seeds I see growing into a new social contract that restores hope among the marginalized. What's needed next is to bring these different stakeholders together to learn about what works and how to inform national policymakers so that successes can be spread. We are doing just that in an effort to make MIT a place where leaders of these innovations come together to share experiences, stimulate research needed to document their successes, failures and lessons, and figure out ways to diffuse those that work to broader settings. We started a "Good Companies-Good Jobs Initiative" with the Hitachi Foundation and are supporting efforts to improve relations and better manage and resolve workplace conflicts, such as through meetings, workshops and online courses. Our aim, as we expand these efforts, is to serve as a catalyst for further innovation to show our leaders what a new social contract might look like. More than anything else, we all should continue to encourage local activism, protest and innovation. If history is a guide, that's what it will take to eventually get leaders in Washington to listen and do their part to address these problems. Thomas Kochan, Professor of Management, MIT Sloan School of Management This article was originally published on The Conversation. Read the original article. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
Депутат Европарламента (ЕП) от Франции, член парламентской фракции «Европа наций и свобод» Жан-Люк Шаффаузер заявил, что зона евро перестала работать и не имеет смысла. «Зона евро больше не функционирует. Нет видимых преимуществ. Излишки с Севера (от благополучных в финансовом плане стран-участниц еврозоны) больше не идут к Югу (к государствам, испытывающим трудности в финансами). Она (еврозона) больше не имеет смысла», – приводит РИА «Новости» его слова на пленарной сессии ЕП в Страсбурге. По словам парламентария, возможным выходом из сложившейся ситуации может стать не спасение европейской финансовой системы, а финансирование реальной экономики – «по-настоящему рентабельных проектов». Финансово-экономический кризис в ЕС эксперты в значительной мере объясняют системным несовершенством еврозоны, где монетарную политику проводит независимый Европейский центральный банк (ЕЦБ), а экономическую, налоговую и бюджетную – суверенные правительства государств ЕС. Это структурное противоречие является наследием 80-х годов, когда концепция единой европейской валюты только формировалась. Ранее глава Европарламента Мартин Шульц заявил, что в Европе наступил новый кризис и ЕС находится в «чрезвычайно плохой» ситуации. Шульц отметил, что во многом это заслуга Brexit. Напомним, в конце июня Европарламент принял резолюцию, призывающую Евросоюз незамедлительно активировать статью 50 Лиссабонского договора для оформления выхода Великобритании из ЕС. Председатель ЕК Жан-Клод Юнкер призвал британских парламентариев в ЕП сложить депутатские мандаты. Кроме того, источник сообщал, что на предстоящем саммите ЕС в Брюсселе может быть поставлен вопрос о фактическом изгнании Великобритании из Евросоюза. Глава МИД Британии Филип Хаммонд заявлял, что процесс выхода Великобритании из ЕС может занять до шести лет. В сентябре ЕС определил «тройку» переговорщиков по Brexit. Накануне главы американских банков J.P. Morgan Chase и Morgan Stanley Джейми Даймон и Джеймс Горман заявили, что выход Великобритании из Евросоюза может привести к распаду еврозоны.
President-elect Donald Trump, who rose to power in no small part through strength of personality and showmanship, is not letting the work of selecting a cabinet turn into a drab affair.
His decision could cost him.
Critics lament that the department is often headed by a Wall Street financier, but the job requires expertise that only insiders tend to possess.
Critics lament that the department is often headed by a Wall Street financier, but the job requires expertise that only insiders tend to possess.
Jamie Dimon likely could take advantage of a lucrative federal tax loophole if he chooses to leave JPMorgan Chase for the Treasury Department.
NEW YORK (Reuters) - JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary.
Having turned decidedly bullish in the immediate aftermath of the Trump victory, his supporter Carl Icahn said the strong rally in U.S. stocks since last Wednesday's "shocking" event might be overdone, however he added that investors can expect the president-elect to be a consensus builder who can help fix Washington and improve the economy. "When it runs up like this, I scale off a little bit," Icahn said on Wednesday at the Reuters Global Investment Outlook Summit, but added "that doesn’t mean that I am that negative or positive." Icahn, who has praised Trump's two potential Treasury picks in either Jamie Dimon or Steven Munichin, aka JPM or Goldman, said on Wednesday he is confident that Trump can help undo the "stagnation" in the United States and its economy, which dominance of the Washington "establishment" has fostered. "We have a perception that the government is at war with business," Icahn said. "The point I think about Donald is he's a consensus builder, he's a very smart guy." As reported previously, Icahn confirmed that he left what became Trump's victory party in the early morning on Nov. 9 to bet about $1 billion on U.S. equities. He called the knee-jerk overnight plunge in stocks, as it became clearer to investors that Trump might win, "crazy" and "unique," and that it created a buying opportunity. Icahn added that he expects Trump to fulfill his promise to reduce regulatory burdens on business, including Dodd-Frank financial reforms that "went too far." Hope on Wall Street that Icahn will undo years of reform has sent financial stocks soaring in the past week, leading to the biggest inflow in financial ETFs on record. As Bloomberg reported, in the week following the election, the Financial Select Sector SPDR exchange-traded fund amassed $4.9 billion of inflows — a record, and more than it accumulated in the past three years. However, Icahn cautioned that some financial regulation remained necessary, to stop Wall Street, which was "greatly to blame" for the 2008 global financial crisis, from causing another calamity. The billionaire raider remained upbeat about some of his own investments, saying the insurer American International Group remained undervalued even after recent asset sales he urged. He also said Herbalife, "whose prospects he has debated for years with William Ackman, a hedge fund manager who calls the nutritional products company a Ponzi scheme", remained undervalued after it agreed in July to restructure its business and pay $200 million to end a Federal Trade Commission probe. Icahn, who has posted 28% annualized returns as an investor, says he regularly talks with legislators in Washington, who complain that the current system prevents them from getting things done. "It's just a major problem," said Icahn, who like Trump is from New York. "I was a poor kid from Queens and I made all this money. I love the country, it's just a lot of the people I don't like." As Reuters adds, Icahn likened the potential for Trump to succeed to President Lyndon Johnson's success in getting civil rights laws passed in his early White House years. "Donald is going to surround himself with some very good people," Icahn said. "He'll be a guy to do what you need to build consensus. He'll do it like Lyndon Johnson did it. Who would have thought Lyndon Johnson could get the Civil Rights Act through?" Finally Icahn expressed hope that critics of Trump will come around, recognizing the number of voters whose ballots reflected their dissatisfaction with business as usual in Washington. "There are so many unhappy people around, and the reason they're unhappy is the stagnation," he said. "That's why I think, even those that really don't like Trump personally, should give him a shot."
Yesterday morning we noted why, in light of the ongoing global bond rout, all eyes would be on the BOJ, and specifically whether Kuroda would engage his "Yield control" operation to stabilize the steepness of the JGB yield curve and implicitly support global bond yields in what DB said would be "full blown helicopter money" where the "BoJ is flying the copter over the US and may be about to become the new US government’s best friend." And sure enough that is precisely what Kuroda did last night after the Bank of Japan "fired a warning at the bond market" as Bloomberg described it, offering to buy an unlimited amount of debt at fixed yields for the first time, an operation meant to maintain the central bank's yield-curve target and which stopped the bleeding not only across Japanese but also global bonds, in the process pushing the dollar lower. The central bank announced two operations, one to buy two-year notes at minus 0.09 percent, and another for five-year debt at minus 0.04 percent. That came after two-year yields rose as high as minus 0.095 percent on Wednesday, up 18 basis points in five days. The BOJ introduced the tools after deciding in September it would control the yield curve. As Bloomberg notes, the so-called fixed-rate operation yielded no bids, a sign that the move was more of a demonstration exercise than an intended transaction in notes. Officials acted amid relative calm in the market, but in the wake of a global bond sell-off in the past week that had driven up yields across the globe -- and in the process put pressure on Japanese government bonds as well. “It’s a surprise that the BOJ took action today,” said Souichi Takeyama, a rates strategist at SMBC Nikko Securities Inc. in Tokyo, a unit of Japan’s second-biggest lender. “Markets won’t test levels above these fixed rates as these will be seen as reflecting the BOJ’s upper limit.” “The aim is to send a warning to markets about a significant surge in rates,” said Keiko Onogi, a fixed-income strategist at Daiwa Securities Co. in Tokyo. At the same time, “there are questions as to why the BOJ conducted this operation now, when the market had already stabilized after the surge in yields to yesterday,” she said. “The BOJ will have welcomed the rise in Japanese stocks and decline in the yen following the Trump Shock, but they’ve shown they aren’t going to stand for a jump in JGB yields,” said Naoya Oshikubo, a rates strategist at Barclays Plc in Tokyo. “It’s the strength of that stance rather than the actual levels at which the BOJ offered to buy the debt that’s pulling down yields.” The BOJ operation helped halt a five-day selloff in Japanese bonds, and government securities advanced from Australia to Germany, together with U.S. Treasuries. The euro strengthened for the first time in nine days as Bloomberg’s dollar index slipped from a nine-month high. Crude reversed declines as OPEC and Russia prepared to meet in Doha for more talks. European shares were little changed, and Asian equities rose with Japan’s Topix measure closing on the brink of a bull market. In the US traders are walking to their desks, awaiting testimony from Federal Reserve Chair Janet Yellen before the Joint Economic Committee that will help shape the outlook for interest rates: focus will be on her comments about the December rate hike and the speed of future moves as financial conditions have materially tightened in recent days. A December increase is now all but assured by the futures market which gives it a 94% probability, while prospects for further tightening triggered a global bonds rout and boosted the dollar since the start of last week. “From the BOJ operation, it looks like it’s a firmer cap on yields than was previously being expected, so that’s supportive for fixed-income globally, ” said Peter Chatwell, head of rates strategy at Mizuho International Plc in London. “It means that the other markets can trade with a bit less of downside risk, or downside fear.” Japan's intervention eased the Bloomberg Dollar Spot Index, which was down 0.2 percent. The yen rose 0.1 percent to 108.95 per dollar, but is still down more than 3 percent since Trump’s victory. The euro strengthened 0.3 percent against the dollar, halting an eight-day losing streak. The pound gained for the first time in four days as figures from the Office for National Statistics showed U.K. spending remained robust despite the Brexit vote. Crude gained 0.4 percent to $45.76 a barrel in New York as Saudi Arabia and some other OPEC nations meet with Russia for informal talks without oil ministers from Iran and Iraq, the two countries that pose the biggest hurdle to an output deal. Russia will hold discussions with representatives from the Organization of Petroleum Exporting Countries in Doha from Thursday, Energy Minister Alexander Novak said. The Stoxx Europe 600 Index added 0.1 percent. While the gauge has remained calm in recent days, it has alternated between intraday gains and losses for eight straight sessions, the longest streak in two years. Its valuation of about 14 times estimated earnings is at its lowest since Brexit relative to a measure tracking global shares. S&P 500 futures were little changed after the gauge slipped 0.2 percent on Wednesday. It closed within 0.6 percent of the record reached in August, while the Dow Jones Industrial Average slipped 0.3 percent from the all-time high it reached on Tuesday. The Russell 2000 Index of small-cap shares closed at a peak. Among stocks moving on corporate news: Zurich Insurance Group AG gained 2.7 percent after saying it will increase its dividend and cut costs. Royal Ahold Delhaize NV declined 3.1 percent as its quarterly profits missed analyst projections. ABN Amro Group NV fell 3.1 percent after the Dutch state sold 65 million of its shares. Cisco Systems Inc. lost 4.4 percent in early New York trading after projecting sales and profit pointing to a slowdown in corporate spending on technology hardware. Treasury 10-year yields fell three basis points to 2.19 percent at 9:19 a.m. London time, retreating further from this year’s high of 2.3 percent, reached Monday, after the BOJ’s first offer to buy an unlimited amount of securities. Japanese bonds also rose after the operation, which was viewed by many as a response to the surge in global yields. 10Y German bund yields also dropped three basis points, to 0.24 percentThe U.S. government will sell TIPS on Thursday, and demand may be robust, with BlackRock Inc., Fidelity Investments and Pacific Investment Management Co. all having recommended the securities since the presidential vote on speculation that Trump’s policies will boost consumer prices. * * * Bulletin Headline Summary From RanSquawk European equities enter the North American crossover mostly lower as financial names pause for breath after recent election-inspired upside Some tentative signs of USD moderation in the making, with USD moderation against the EUR and JPY seeing 1.0650 and 110.00 levels respectively held Looking ahead, highlights include UK retail sales, EU & US CPI, ECB minutes, US weekly jobless data, housing starts & Philadelphia Fed Manufacturing Index & a host of Fed speakers Global Market Wrap S&P 500 futures up 0.1% to 2175 Stoxx 600 up 0.1% to 339 FTSE 100 up 0.3% to 6770 DAX down 0.3% to 10629 German 10Yr yield down 2bps to 0.28% Italian 10Yr yield down 2bps to 2.02% Spanish 10Yr yield down 2bps to 1.52% S&P GSCI Index up 0.2% to 358.3 MSCI Asia Pacific up 0.3% to 135 Nikkei 225 up less than 0.1% to 17863 Hang Seng down less than 0.1% to 22263 Shanghai Composite up 0.1% to 3208 S&P/ASX 200 up 0.2% to 5339 US 10-yr yield down 3bps to 2.2% Dollar Index down 0.29% to 100.12 WTI Crude futures up 0.2% to $45.66 Brent Futures up 0.2% to $46.72 Gold spot up 0.2% to $1,227 Silver spot up 0.3% to $17.04 Top Headline News Apple Wants OLED in iPhones, But Most Suppliers Aren’t Ready Yet: Display makers seen struggling to meet iPhone output in 2017 Apple Is Said To Cut Fees Video Services Will Pay for App Store Dimon Told Trump Team He Has No Interest in Treasury: Fortune Gingrich Doesn’t Want Formal Role in Trump White House: Fox Haley, McMaster Considered for Trump Cabinet: Post and Courier Verizon’s Buy of Fiber Network From Icahn’s XO Wins Approval: FCC clears $1.8 billion deal, says it doesn’t harm competition Ahold Delhaize Profit Misses Estimates on U.S. Deflation: Price pressure erodes sales at Food Lion supermarket chain Gilead’s Myelofibrosis Drug Gets Mixed Results in Cancer Trials: Treatment for a rare bone marrow cancer succeeded in one trial and failed in another Facebook Yields to IRS Demand for Records Over Asset Transfer: IRS demands for records related to co.’s transfer of global operations to Ireland in 2010 Sen. Cotton Plans to Offer $26b Emergency Defense Spending Bill * * * Looking at regional markets, we start in Asia where stocks were slightly downbeat following a lacklustre lead from Wall St, where underperformance in energy and financials weighed on sentiment and saw DJIA close negative for the first time in 8 days. Nikkei 225 (Unch) was driven by JPY fluctuations, while ASX 200 (+0.2%) closed higher amid strength in defensive stocks with weak employment data also raising doubts that RBA may not be done with its easing cycle. Shanghai Comp (+0.1%) dampened amid ongoing trade concerns, while downside in the Hang Seng (-0.3%) was stemmed by consumer names and banks. 10yr JGBs gained with outperformance seen in the short-end after the BoJ announced to purchase an unlimited amount of bonds ranging from 1yr-5yr maturities at fixed rates which suggested an intent to cap yields if needed, although the BoJ found no takers and some gains were later pared following a weaker 20yr auction in which the b/c and average price fell from the prior month.Japanese cabinet advisor Fujii stated he wants additional fiscal stimulus in 2017 and would like JPY 21trl added to the primary budget in the next fiscal year and in the following years thereafter. Top Asian News JPMorgan Said Set to Pay $200 Million in China Hires Settlement: Non-prosecution deal reflects bank’s cooperation with inquiry Yuan Watchers Lower Forecasts as Trump Victory Raises Risks: Currency may weaken to 7 per dollar early next year Philippines Posts Strongest Economic Growth in Asia at 7.1%: Nation seen as among fastest-expanding in the world until 2018 BOJ First Unlimited Bond Buys Get No Bids After Yields Retreated: BOJ announces first fixed-rate operation to buy JGBs Ward Ferry to Shut 15-Year-Old Asia Hedge Fund as Co-CIO Leaves: Co. will focus on long-only funds after Nash-Webber leaves In Europe, bourses opened lower following the lead from Wall Street, as DAX (-0.2%) and EUROSTOXX (-0.2%) have both seen underperformance in financial names after a retracement from recent election-inspired gains. The Telecoms sector is the outperformer following reports of a potential merger between T-Mobile and Sprint in the US. Bond markets have also received a bid inline with general risk sentiment. In Italy the latest polls put the no vote ahead and with the referendum too close to call and as more comments filter through to the markets we must keep a close eye on eye on Italian yields particularly the short end. Top European News VW Loses European Market Share as Scandal Effect Lingers: Carmaker’s October sales fell 1.8% vs. market’s 0.3% drop ABN Amro’s Dutch State Owner Selling 7% as Part of Exit Plan: Stock up 18% in 12 months as most European lenders have fallen Rio Tinto Fires Two Senior Executives Amid Payment Probe: fired two of its top executives over a payment connected to a giant iron ore project in Guinea in West Africa NN Group Chief Wants Delta Lloyd to Open Up to Deal Talks: NN still sees ‘strong merit’ in a combination of the firms In FX, the Bloomberg Dollar Spot Index was down 0.2 percent. The yen rose 0.1 percent to 108.95 per dollar, but is still down more than 3 percent since Trump’s victory. The euro strengthened 0.3 percent against the dollar, halting an eight-day losing streak. The pound gained for the first time in four days as figures from the Office for National Statistics showed U.K. spending remained robust despite the Brexit vote. Malaysia’s ringgit fell for a seventh day, its longest stretch of losses in more than a year. Bank Negara Malaysia said Wednesday it will continue to restrict speculative activity in the currency market. The Vietnamese dong fell for a fourth day to a five-month low. “I’m just seeing this as overall dollar strength,” said Wu Mingze, a foreign-exchange trader in Singapore at INTL FCStone Inc., a Nasdaq-listed global payments-service provider. “Unfortunately speculators will treat Bank Negara’s statements as a sign of weakness if they do not actually do something.” In commodities, crude gained 0.4 percent to $45.76 a barrel in New York as Saudi Arabia and some other OPEC nations meet with Russia for informal talks without oil ministers from Iran and Iraq, the two countries that pose the biggest hurdle to an output deal. Russia will hold discussions with representatives from the Organization of Petroleum Exporting Countries in Doha from Thursday, Energy Minister Alexander Novak said. There’s a high chance of an agreement and Russia is ready to support a decision, he said. Copper traded near a 17-month high in Shanghai. Jiangxi Copper Co., China’s top producer, agreed to cut processing fees for next year as mine supply is poised to be little changed and Chinese smelting capacity expands. Gold has stabilized after its U.S. election thrashing and is on course to end the week little changed, even as investors bail from bullion-backed exchange-traded funds. Prices for immediate delivery climbed 0.4 percent to $1,229.84 an ounce. On today's economic calendar, the key data to watch will be the October inflation report with headline CPI expected to tick up (+0.4% mom expected; +0.3% previous). In terms of labour market data we will get the initial jobless claims numbers for last week (257k expected; 254k previous) and the continuing claims from the week before (2030k expected; 2041k previous). We will also see the Housing starts (1156k expected; 1047k previous) and the Building Permits numbers (1195k expected; 1225k previous) for October, and finally round out the day with the Philadelphia Fed PMI for November (7.8 expected; 9.7 previous). Away from data, we continue on a busy week for Fedspeak. As already noted above, Fed Chair Yellen will testify before the Joint Economic Committee today – the first time we’ll hear from her following the US elections. We will also hear from Brainard in New York. The other event to note for today is the scheduled meeting between US President-elect Trump and Japanese PM Abe. US Event Calendar 8:30am: Housing Starts, Oct., est. 1.156m (prior 1.047m) 8:30am: CPI m/m, Oct., est. 0.4% (prior 0.3%) 8:30am: Initial Jobless Claims, Nov. 12, est. 257k (prior 254k); Continuing Claims, Nov. 5, est. 2.030m (prior 2.041m) 8:30am: Philadelphia Fed Business Outlook, Nov., est. 7.8 (prior 9.7) 9:45am: Bloomberg Economic Expectations, Nov. (prior 45) Bloomberg Consumer Comfort, Nov. 13 (prior 45.1) 10am: Freddie Mac mortgage rates 10:30am: EIA natural-gas storage change * * * DB's Jim Reid concludes the overnight wrap Today the Trump story advances further with the President elect meeting his first world leader post the election with Japan's Abe passing through town. We'll also see Fed Chair Yellen testify before the Joint Economic Committee today – note that this is the first time we’ll hear from her following the election. We think her prepared remarks will be out at 8am EST. So potential for headlines from both events. It was also interesting that late last night Fox's Maria Bartiromo suggested that the crucial US Treasury secretary role will be decided today (announced tomorrow) and is down to a choice between Jamie Dimon of JPM and Steve Mnuchin. The fact that Jamie Dimon is still in the race after his public comments downplaying his desire for the role would be a surprise to many but he would certainly be another appointment that Wall Street would appreciate. Indeed both potential candidates are Wall Street veterans. So one to watch over the next two days. The most interesting news overnight is that the BoJ has announced its first operations to purchase an unlimited amount of bonds at a fixed rate following 10-year JGB yields turning positive earlier this week for the first time since the BoJ announced their desire to peg them near zero. They are carrying out two operations, one in 1-3 year maturities and another in the 3-5 year part of the curve. The operation received no bids but its the first sign that they are prepared to intervene. 10 year yields have edged back a fraction through zero as we type having traded as high as 0.035% yesterday. As we discussed yesterday if the BoJ is serious about defending their targets in the face of rising global yields then we effectively have cross border helicopter money but with the helicopters dropping money printed in Japan over the US given Trump's fiscal agenda. It's an interesting backdrop to today's meeting of the respective leaders. Trump might end up being very grateful for Japanese policy as it could help hold global yields down more than they would have been without it. Elsewhere Asian markets are relatively quiet with very little movement of note although I admit I might be too tired to spot anything significant even if there was. A similar story was seen yesterday as markets continue to settle a little after a frenetic past week. The STOXX 600 (-0.20%) and S&P 500 (also -0.2%) both dipped though. US banks were the worst performing US sector yesterday (-2.1%), finally running out of steam following a strong post-election rally. The Dow (-0.32%) was also down for the first time since the beginning of last week. Over in currency markets, the US dollar continued its post-election rally by gaining +0.3% and quickly erasing yesterday’s dip. Commodity markets were broadly down, with WTI and Brent falling by -0.7% and -1.0% respectively and copper down -0.6%. Gold was marginally lower on the day as it continued its string of losses (down -4.4% since the beginning of last week). European credit markets were also down as iTraxx Main and Crossover both widened by +1bps on the day. Over in the US we saw CDX IG hold steady while CDX HY widened by +5bps on the day.Turning to the other end of the risk spectrum, German 10Y yields dropped by -1bps on the day while US 10Y yields saw some big intraday swings that saw yields rise and fall by nearly +8bps and -2bps respectively before ending the day flat. The US curve also flattened somewhat as the US 2Y ticked up +1bp while the 30Y dropped by -4bps. Markets in general continue to price in a December Fed hike with near certainty, with the implied probability around 94% (unchanged from yesterday). On the topic of rate hikes, one of the key questions surrounding Trump’s unexpected election victory last week was regarding the impact his policies may have on the Fed in the year ahead. DB’s GEP team focuses on one specific area of this issue – what appropriate Fed policy would look like given Trump’s policy mix. They find that a much faster pace of rate hikes are certainly implied under the new administration – even under a relatively conservative assessment the team finds that Yellen's preferred Taylor rule would imply that the Fed should pursue one more rate hike next year than they currently expect. Under a more optimistic scenario (in which US growth rises to around 3% in 2017) the appropriate fed funds rate would be about 75bp higher than the Fed's current expectations. However, the team notes that while a substantially faster pace of rate hikes in 2017 is a risk, this is not their base case: they believe inflation is likely to moderate early next year and the full growth benefits of Trump’s policies may not begin to be felt until the second half of the year. Hence, the Fed is likely to initially keep to their expectations for a gradual pace of rate increases, with the greater risk for faster rate hikes in late-2017 and 2018. Another key topic of focus following Trump’s victory has been the potential for increased fiscal spending in the US – particularly infrastructure spending. While such a policy is largely expected to prove to be growth positive, there are also fears regarding how such unfunded spending may be possible without damaging the government’s fiscal position. However, a Bloomberg news story yesterday noted that the Trump administration is exploring ways of establishing an ‘infrastructure bank’ to fund such planned infrastructure investments. Depending on its structure, such an entity could potentially provide a way to accommodate increased spending and investment while managing the impact on the government balance sheet. Trump’s policy mix so far has had its share of unknowns (note the campaign team derided a similar policy from Clinton) and so this development might be worth following. Another piece of political news out yesterday was that Emmanuel Macron officially confirmed his plan to run for French presidency as an independent. While Macron’s candidacy for next year’s election was expected, it does introduce further uncertainty into the race as it may further fragment the electorate. DB’s France economist Marc de-Muizon discussed Macron’s potential candidacy (among other political issues) in a report published last month and noted that his position was more difficult than his high popularity ratings suggested. Taking a look now at some of the data out today, we saw the September and October employment report from the UK which was a bit of a mixed bag. The ILO unemployment rate for September came in marginally better than expected at 4.8% (vs. 4.9% expected; 4.9% previous). However there remain signs that the labour market may be cooling as the employment change numbers for September came in below expectations at 49k (vs. 91k expected; 106k previous) and jobless claims numbers for October ticked up to 9.8k (vs. 2.0k expected) with September being revised up to 5.6k as well (0.7k before revision). Average weekly earnings growth for September was unchanged and marginally below expectations at +2.3% (vs. +2.4% expected; +2.3% previous). In the US data slightly disappointed. Wholesale prices for October were unexpectedly unchanged on the month (PPI +0.0% mom) and below expectations of a +0.3% increase. Industrial production was flat and below expectations in October (+0.2% expected), while the September number was revised down to -0.2% (vs. +0.1% before revision). Capacity utilization in October also ticked down and came in marginally below expectations at 75.3% (vs. 75.5% expected; 75.4% previous). The NAHB housing market index for November however did hold stable and come in as expected at 63. Looking at the data calendar for the day ahead now, we kick off in France where we get the Q3 employment numbers, with the headline unemployment rate (9.9% expected; 9.9% previous) expected to remain unchanged. Thereafter we turn to the UK where we will see the October retail sales numbers (+0.4% mom expected; 0.0% previous). Thereafter we will see the final October CPI numbers for the Eurozone where no revisions are expected (+0.5% YoY expected). Over in the US, the key data to watch will be the October inflation report with headline CPI expected to tick up (+0.4% mom expected; +0.3% previous). In terms of labour market data we will get the initial jobless claims numbers for last week (257k expected; 254k previous) and the continuing claims from the week before (2030k expected; 2041k previous). We will also see the Housing starts (1156k expected; 1047k previous) and the Building Permits numbers (1195k expected; 1225k previous) for October, and finally round out the day with the Philadelphia Fed PMI for November (7.8 expected; 9.7 previous). Away from data, we continue on a busy week for Fedspeak. As already noted above, Fed Chair Yellen will testify before the Joint Economic Committee today – the first time we’ll hear from her following the US elections. We will also hear from Brainard in New York. The other event to note for today is the scheduled meeting between US President-elect Trump and Japanese PM Abe.
Напомню, что я - аналитик и подборка информации идет соответственно- аналитическая, предполагающее самостоятельное изучение материалов.сначала с вами вспомним как звучит официально:Википедия:9:32: Диспетчеры аэропорта Даллеса в Виргинии наблюдают «цель на первичном обзорном радаре, двигающуюся с высокой скоростью в восточном направлении», относя это к рейсу 77.9:33 до 9:34: Руководитель башни аэропорта Рейган сообщает центру Секретной Службы Белого дома, что «в вашу сторону летит самолёт, который не выходит с нами на связь.» имея в виду рейс 77. Белый дом готовится к эвакуации, когда башня сообщает, что рейс 77 повернул, и заходит на посадку в аэропорт Рейган.9:34: Командный центр ФАА передает штаб-квартире ФАА имеющуюся информацию о рейсе 93.9:37: Вице-президент Чейни направляется в подземный бункер по туннелю.9:37:46: Рейс 77 врезается в западное крыло здания Пентагона, отчего начинается сильный пожар. Это крыло Пентагона находится на ремонте, и большинство офисов в нём не заняты. Погибают все 64 человека на борту и 125 человек в здании.1 канал, Россия:В 8:46 первый самолет врезался в северную башню Всемирного торгового центра в Нью-Йорке. Мэр города и руководитель службы спасения немедленно выехали к башням-близнецам. "Подъехав к торговому центру, мы убедились, что все намного хуже, чем мы думали, - рассказывает мэр Нью-Йорка в 2001 году Рудольф Джулиани. - Мы пытались дозвониться до начальника полиции, начальника пожарного департамента, даже до Белого дома. Но сотовая связь почти не работала".В 9:03 в южную башню Всемирного торгового центра врезался второй самолет. После этого первым лицам США стало понятно, что это нападение на страну. Президенту Бушу доложили о втором самолете.В этот момент новость о втором самолете получили журналисты президентского пула. Встреча со школьниками подошла к концуПервый звонок Буша – вице-президенту Дику Чейни. Они обсудили, с какими словами президент должен обратиться к нации. Оба понимали, что это террористический акт и они обязаны об этом сказать.В то время как президент завершал свое обращение к нации, в Центре управления ПВО возникла новая кризисная ситуация. Был замечен самолет в 10 километрах к востоку от Белого дома. При угрозе нападения на Вашингтон Белый дом должен быть немедленно эвакуирован. "Я работал за своим столом, когда в кабинет ворвался один из руководителей охраны. Он приказал следовать за ним без каких-либо объяснений. Потом одной рукой схватил меня за ремень, а другой за плечо и буквально вынес меня из кабинета сначала в коридор, а потом в туннель, ведущий в подземный оперативный центр", - вспоминает Дик Чейни.Оперативный центр находится в бункере. Он предназначен для управления страной в случае начала ядерной войны. Отсюда Чейни мог руководить организацией обороны страны и подготовкой ответного удара. Задача №1 – нейтрализация рейса 77 American Airlines, взявшего курс на Вашингтон.В 9:37 третий угнанный самолет врезался в здание Пентагона. В это время министр обороны Дональд Рамсфелд находился в своем рабочем кабинете. Выйдя на улицу, чтобы оценить ситуацию, он увидел пламя, дым и раненых и бросился помогать пострадавшим. Почти полчаса его не могли найти. Но затем он вернулся в свой кабинет, чтобы связаться с президентом и вице-президентомА теперь обращаемся к всежим американским источникам, коим является ранее мною упоминаемая согласительная комиссия по альтернативному (официальной точке зрения) расследованию этой трагедии. Ранее она находила свидетелей, которые утверждали,что черные ящики от врезавшихся самолетов в ВТЦ, были найдены: Новые доказательства отрицают,что не были найдены черные ящики самолетов.Пожарные, работающие в Граунд Зеро, утверждают,что были найдены три из четырех черных ящиков, так как они находятся в коробках, которые практически не поддаются разрушению. Эта информация была предоставлена согласительной комиссии из 24 членов по 9/11.Сейчас эта же комиссия утверждает,что слова Дика Чейни расходятся с показаниями свидетелей:Point MC-3: The Claim about the Time of Dick Cheney’s Entry into the White House Bunker Поставим точку в MC-3: заявление относительно того времени, когда Дик Чейни находился в подземном бункере.The Official Account Официально:Vice President Dick Cheney took charge of the government’s response to the 9/11 attacks after he entered the PEOC (the Presidential Emergency Operations Center), a.k.a. “the bunker”. 9/11 Commission Report said1that Cheney did not enter the PEOC until almost 10:00 AM, which was at least 20 minutes after the violent event at the Pentagon that killed more than 100 people.Вице-президент США Дик Чейни взял на себя управление государством после того,как вошел в правительственный бункер и это произошло по его словам около 10:00 утра, через 20 минут после того, как в Пентагоне погибло более 100 человек.(1)The Best Evidence Лучшее доказательство:Secretary of Transportation Norman Mineta told the 9/11 Commission that, after he joined Cheney and others in the bunker at approximately 9:20 AM, he listened to an ongoing conversation between Cheney and a young man, which took place when “the airplane was coming into the Pentagon.”2After the young man, having reported for the third time that the plane was coming closer, asked whether “the orders still stand,” Cheney emphatically said they did.However, testimony that Cheney was in the PEOC by 9:20 was reported not only by Mineta but also by Richard Clarke3 and White House photographer David Bohrer.4 Cheney himself, speaking on “Meet the Press” five days after 9/11, reported that he had entered the PEOC before the Pentagon was damaged.5The 9/11 Commission’s attempt to bury the exchange between Cheney and the young man confirms the importance of Mineta’s report of this conversation.Министр транспорта Норман Минета сообщил комиссии 9/11,что он присоединился к Чейни и к остальным в бункере уже в 9:20 и услышал разговор между ним и молодым человеком, когда "самолет направлялся в сторону Пентагона".(2)Когда молодой человек в третий раз запросил Чейни, так как самолет приближается и "все ждут приказа", Чейни решительно ответил, что "он обдумывает".Норман Минета не единственный свидетель, кто подтверждает нахождение Чейни в бункере уже в 9:20. Помимо него об этом говорят Ричард Кларк (3) и фотограф Белого дома Дэвид Борер (4)Сам же Чейни утверждает,что он вошел в бункер после того,как был атакован Пентагон.(5)References for Point MC-31. 9/11 Commission Report (2004), note 213, p. 464.2. “911 Commission: Trans. Sec. Norman Mineta Testimony.”3. Richard Clarke, Against all Enemies (New York: Free Press, 2004), pp. 2-5.4. See “9/11: Interviews by Peter Jennings,” ABC News, September 11, 2002.5. “The Vice President Appears on Meet the Press with Tim Russert,” MSNBC, September 16, 2001.Казалось бы- ну и что? Какое это имеет отношение к экономике? А самое прямое. Напомню,что во время 9/11 были объявлены банковские каникулы, после которых в течении недели рынок потерял более 1 триллиона капитализации:Эти атаки оказали значительное экономическое воздействие на американский и мировой рынки. ФРС временно сократил контакты с банками из-за нарушений коммуникационного оборудования в финансовом районе Нижнего Манхэттена. Обратная связь и контроль над денежной массой, включая мгновенную ликвидность банков, была восстановлена в течение нескольких часов. Нью-Йоркская фондовая биржа (NYSE), Американская фондовая биржа и NASDAQ не открылись 11 сентября и оставались закрытыми до 17 сентября. Объекты NYSE и её центры обработки данных не пострадали, но члены биржи, клиенты и другие биржи потеряли с ней связь из-за разрушений телефонного узла около ВТЦ. Когда 17 сентября биржи открылись, после самого долгого периода бездействия со времён Великой депрессии в 1929 году, Индекс Доу-Джонса («DJIA») потерял 684 пункта, или 7,1 %, до 8920, это было самым большим его падением в течение одного дня. К концу недели DJIA упал на 1369,7 пунктов (14,3 %), это было самым большим недельным падением в истории. Американские акции потеряли 1,2 триллиона долл. в течение недели.Стоит обратить внимание на слова Билла Гросса "The Good Times Are Over, The Time For Risk Taking Has Passed" о том, что :"институциональные инвесторы финансовой экономики такие как, фонды денежного рынка, страховые, пенсионные, банковские и даже потребительские балансы больше не могут обеспечить уровень доходности, необходимых для оправдания своих будущих обязательств и их стало невозможно достичь. Доход по депозитам слишкам мал,чтобы покрыть обязательства. В связи с чем доход по многим классам активов станет отрицательным. По мере снижения ливидности можно будет наблюдать, как ряды рискованных активов будут пополняться , напоминая всем известную игру с музыкальными стульями. И то, что 2015 год или ближайшие 12 месяцев- это время принятия рисков, можно судить по тому,что активов с положительным денежным потоком становится все меньше".Далее мы с вами наблюдаем любопытные вещи, происходящие в крупнейших финансовых учреждениях США.Зерохедж. Is Citi The Next AIG? Citi - это новый AIG? Напомню, что в Сити работает Саммерс. Тот самый, который организовал в свое время провалившийся фонд Гарварда в России, планировавшийся для того,чтобы организовать то,что сейчас происходит на Украине. Стоит вспомнить о том,что война довольно затратное, а зачастую убыточное мероприятие. И не исключено,что пополнение баланса деривативами как-то связано с тем,что происходит на Украине- Украина банкрот, но , например, Обама подписал закон о поддержке Укрианы на 400 миллионов, к тому же он(Обама) довольно плотно работал с Саммерсом и только общественность заставила отклонить его кандидатуру на пост председателя ФРС, удовольствовашись кандидатурой Фишера на "вторых ролях", хотя Фишер от этого не испытывает никаких страданий.Мы обнаружили,что Citigroup, ранее пролоббировавшая деривативы за счет FDIC, увеличили деривативы на своем балансе в третьем квартале до $70.2 трлн, опередив в этом даже JPM!Ну раз завели дело о JPM, то давайте поговорим о нем. Этот мегабанк уже довольно давно испытывает давление от регуляторов в том плане, что у них Джейми Даймон одновременно является и генеральным директором и председателем совета директоров. Но, как нам сообщает Зерохедж, основная опасность исходит от конкурента гиганта- Голдман Сакс, чьи люди как раз и работают в регуляторе. Кого заинтересовало, могут подробнее прочитать в оригинале:Зерохедж Goldman's Modest Proposal: It May Be Time To Break Up JPMorgan Скромное предложение от Голдмана: может, пришло время разбить JPMorganЕще в 2008 году, после падения фондовых рынков, Голдман избавился от двух своих конкурентов: от Bear и Lehman, когда ФРС отказалась спасать эти банки. Теперь, волне возможно, пришла очередь и для JPM.Голдман: недавно было озвучено ФРС,что капитал JPM необходимо поднять до 11,5%,что на 100%-200% выше, чем у всех остальных, то, может быть имеет смысл говорить о целесообразности разделения акционерного капитала, учитывая,что он сейчас является отрицательным. Распад может создать стоимость ниже на 20% и его можно разделить на: (1) трастовый банк, инвестиционный банк и бизнес по управлению активами и (2) все остальное (то есть более традиционный банковский бизнес). Разделение банка будет способствовать росту акционерного капитала.Вы мне скажете: а при чем тут Дик Чейни? Прямое отношение, конечно, он уже не имеет, просто надо иметь в виду,что США действуют всегда шаблонно, поэтому, например, не исключен вот какой вариант:прогнозирует Байрон Уин из Blackstone Group LP:По словам Уина, в этом году по настоящему проявят себя киберпреступники, которые становятся более ловкими, чем полиция.«Хакеры захватят частные и корпоративные счета одного крупнейшего банка, а Федеральная резервная система закроет это учреждение на пять дней для проверки его счетов»А хакеры- ,понятно, кто- Федеральное бюро расследований США расследует кражу данных из американского банка JP Morgan Chase. Она произошла в середине августа, сообщило агентство Bloomberg со ссылкой на двух сотрудников, имеющих отношение к следствию. По данным агентства, под подозрение попали российские хакеры. Они украли петабайты закрытой информации настолько умело, что эксперты подозревают — хакеры действуют при поддержке российских властей. ФБР расследует, является ли взлом JP Morgan местью российских властей за санкции США из-за конфликта вокруг Украины.или :Блумберг:"элитные российские хакеры взломали биржу Nasdaq и заложили туда цифровую бомбу".Я , надеюсь, что понятно. В условиях, когда ставки находятся на нуле и практически все активы показывают отрицательное значение, то есть идут убытки по причине невозможности капитал воспроизводить, происходит органический рост - за счет поглощения конкурентов. В США давно поглощены мелкие банки, настала очередь крупного финансового капитала выяснять, кто будет сидеть на стуле. В свою очередь, Россия только вступила в данный этап , когда крупные банки выживают за счет разорения мелких, в чем немало способствует ЦБ РФ. Во всяком случае, мы наблюдаем назревание явно революционной ситуации:"верхи не могут, низы не хотят". Вернее: верхи разбираются, для кого стул лишний, а когда разберутся, то назначат мальчика для битья, коим,скорее всего, будет российская элита,этакий хакерский Бен Ладен. Хотя проблемы финансового капитала США должны решаться несколько иными решениями, но американская элита иначе не может- виноват в их проблемах всегда кто-то другой, вот они и решают их, как могут- за чужой счет. И если это кто-то другой согласен его оплачивать- то тем более.
Глава банка JP Morgan Джейми Даймон благодарит конгресс за принятие бюджета. "Этим утром я собираюсь отправить Полу Райану и Патти Мюррей сообщение по электронной почте со словами "Спасибо вам, спасибо вам, спасибо вам, и пусть Господь благословит вас", – заявил Даймон в среду, обращаясь к республиканским конгрессменам и сенаторам из Демократической партии, которым удалось прийти к бюджетному соглашению. По его мнению, бюджетное соглашение - это "большой прорыв", так как повторной временной приостановки работы правительства не произойдет. Напомним, что Конгресс США, не дожидаясь крайнего срока, принял бюджет и предотвратил еще одну временную приостановку работы американского правительства. После продолжительных дебатов демократы и республиканцы все же достигли договоренности и приняли бюджет на 2014 финансовый год. Соглашение предусматривает сокращение госрасходов в течение двух лет на $63 млрд. Причем большая часть секвестра придется на текущий 2014 финансовый год, который в Америке начинается 1 октября.