With stock markets bouncing for a second day off the latest leg of November losses, the credit markets continue to signal red alert. Good discussion on why the euro zone is facing a region-wide credit crunch, which could trigger further downgrades and undermine global consumption, with Mohamed El-Erian, Pimco CEO/co-CIO. If you cannot see the clip below, look here.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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