| October 31, 2016 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | More Conferences
By JLN Staff
John Lothian & Co. is in London today for its Marketswiki Education series. It's also LME Metals Week in London. We'll keep you posted on both events.
Meanwhile, there are more events to consider attending.
Our friends at Baruch College and the Tabb Group are combining on a Financial Markets Conference in New York on Tuesday, November 1 at the William and Anita Newman Vertical Campus 14th floor, Conference Center. Robert Schwartz and Larry Tabb are the organizers.
The sponsors include Bats Global Markets, BIDS Trading, CBOE Holdings Inc., CODA Markets, Instinet, Modern Markets Initiative, Nasdaq, OTC Markets Group, Inc. Portware and the TABB Group.
The conference will look at "is liquidity adequate for large cap stocks? What are the liquidity problems facing small and mid-caps, large institutional investors, and other financial instruments? Is special regulation called for? How can a greater liquidity supply be achieved?"
Registration fee will be $595 (US). To register, please print the registration_form and email to Eileen.Stempel@baruch.cuny.edu or fax to Eileen Stempel at 646-312-3530. For more information, please call 646-312-3512 or email Eileen.Stempel@baruch.cuny.edu. A select number of academicians may attend at a special rate.
Our friends at the Moscow Exchange will be holding a Russian Investment Forum in New York on November 15 at the Waldorf Astoria. The "conference brings together senior policymakers, corporate CEOs, institutional investors, brokers and other financial professionals to discuss current opportunities and challenges on Russia's capital markets," according to their press release
| | | | | | Lead Stories | | | Safety Comes at Steep Prices in Options
Gunjan Banerji - WSJ
The seemingly safest stocks in the U.S. equity market are turning into one of the riskiest trades.
Defensive stocks soared in the first half of 2016 as ultralow bond yields drove money flows into shares of high-dividend companies. Now it is more expensive to insure against losses in utility and consumer-staples stocks and related trades than numerous assets world-wide, illustrating how crowded trades can leave investors vulnerable to shifts in sentiment even in havens.
on.wsj.com/2f5E2sN
Uncertainties Create a Pause For Market Participants
Bob Lang - CBOE Options Hub
These next eight to ten days will be quite interesting as the outcome of some events will unfold, as the Fed policy and election uncertainties will create headaches for market players.
The Fed has a meeting this week and it is widely held they will not make a move on interest rates, rather they will continue to provide clues toward a December rate hike. Whether that is good policy shift is open to debate, but certainly there is a swarm of support to hike the rate before the end of 2016. December is the last meeting of the year. While the markets are pricing in a rate hike at that meeting I have a variant view ONLY if inflation is still too low and growth continues to be anemic.
bit.ly/2f1wTvR
Is VIX Setting Up Like The August 2015 Correction?
Peter Tchir - Forbes
I started to do some work on whether the VIX has the potential to break out as we come into Halloween.Recently I commented on the trading pattern of investing creating inflows into UVXY, TVIX and VXX on every dip in VIX and the value of these ETFs and ETNs (Doubling Down).
bit.ly/2f5C7Eu
'Game changer' could derail a traditionally great stretch for stocks
Shawn Langlois - MarketWatch
Day 1 was pretty much a bust. Day 2, by the looks of it, isn't shaping up to be a whole lot better. This is no way to start off what's supposed to be the most wonderful five-day stretch of the year.
Thanks to the FBI's fresh probe into Hillary's emails, it looks like all that volatility traders have been missing is back. And then some.
on.mktw.net/2f5CqyR
Stocks slide and gold jumps after the FBI says it's investigating Clinton's emails again
Max Ehrenfreund - The Washington Post
Investors rushed to sell their assets in equity and currency markets Friday afternoon after the Federal Bureau of Investigation said it was looking into Hillary Clinton's emails again. The revelation seemed to cause fluctuations in prices for a range of securities and commodities in the United States and overseas.
wapo.st/2f1qqRJ
***JB: VVIX Index Spikes 21% on News of Federal Investigation
Stock Paralysis Eases at Right Time for Bulls Hoarding Cash
Joseph Ciolli - Bloomberg
Stocks are stuck in the worst rut since 2006 and active funds are hemorrhaging assets. Yet signs of a thaw are gathering.
Among them is a data that show lockstep moves in stocks are loosening, a welcome sign to fund managers whose efforts to pick winners have been thwarted for years as shares swung in unison. Equity correlations have eased to a three-year low on U.S. exchanges, aided by a rally in economically sensitive banks and software makers and a selloff in defensive industries.
bloom.bg/2f1uMIq
Equity trading declines 13% across Europe
Hayley McDowell - The Trade
The total number of shares traded on European venues fell by 13% in the third quarter this year, compared to the second quarter.
bit.ly/2f1ruor
Buying Volatility Has Become Necessary
Jim Collins - The Street
We had a bit of Freaky Friday in the markets, as the revelations of yet another Clinton email scandal roiled the markets. If one just checked the closing value of the Dow Jones Industrial Averages, the 8-point decline wouldn't seem like much, but I know Real Money readers are more savvy than the average market-watcher. Note also that the Nasdaq Composite was down 0.5% in Friday -- driven by Amazon's (AMZN) disappointing quarter -- so there was some legitimate weakness in the market.
bit.ly/2f1vzJp
| | | | | | Exchanges | | | Volatility king CBOE hit by...low volatility
Proactive Investors
CBOE Holdings, the Chicago exchange known for its Vix volatility products, has joined Nasdaq and KCG in reporting weakness in trading operations for the third quarter as the list of companies pressured by the current market trend of low volumes and low volatility continues to grow
bit.ly/2f1q11A
| | | | | | Strategy | | | US News Bullish, so Let's Trade Germany
Vikram Rangala - Nadex Binary Options
US 3rd quarter growth rose to 2.9%, the highest in two years. It's a sign the US economy is on a steady track. Instead of jumping on the bullish headlines, consider an unconventional idea: trade the lackluster German DAX instead.
bit.ly/2f1qVLt
BigTrends.com Weekly Market Outlook - October 31, 2016
Price Headley - CBOE Options Hub
Stocks tried to get the market back in a bullish groove, staging a pretty solid advance on Monday of last week. It wasn't meant to be though. That rally effort petered out beginning on Tuesday, and then accelerated as the week wore on with the weight of a big Q2 rally still getting in the way. By the time Friday's closing bell rang most of the indices were within easy reach of a major support level. One stumble this week could finally pop this fragile (albeit short-term) bubble.
bit.ly/2f1Ab27
| | | | | | Events | | | CME Group to Host Ninth Annual Global Financial Leadership Conference
Press Release - CME Group
CME Group, the world's leading and most diverse derivatives marketplace, today announced it will host the ninth annual Global Financial Leadership Conference (GFLC) Nov. 14-16, at the Ritz-Carlton Beach Resort in Naples, Fla. The GFLC is an exclusive, invitation-only event that brings together decision-makers from the world's leading financial institutions to discuss the global investment climate and outlook, debate critical economic issues and share insights and analysis of geopolitical trends and the global financial landscape.
Keynote speakers for this year's conference include:
Tony Blair, Prime Minister of Great Britain and Northern Ireland (1997-2007)
John Boehner, Speaker of the United States House of Representatives (2011-2015)
Gordon Brown, Prime Minister of Great Britain and Northern Ireland (2007-2010)
Gary Cohn, President and Chief Operating Officer, Goldman Sachs
Michael Phelps, 23-Time Olympic Gold Medalist
Lawrence Summers, Director, White House National Economic Council (2009-2010); Harvard University (2001-2006); Secretary of the Treasury (1999-2001)
bit.ly/2f1sc54
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