In this report, I cover the early market action from London on Thursday, October 10th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look at a story that just came out in the FT about the Federal Reserve dropping tough liquidity requirements on foreign banks doing business in the U.S. I will show how Deutsche Bank has greatly benefited from that and how one of President Trump's picks for the Federal Reserve Board in 2017 has been instrumental and getting these regulations dropped.
My conclusion is that one needs to really follow the money and stop focusing on the Kabuki Theater that politics has become or has pretty much always been. Should we really believe President Trump is an enemy of the Fed when he is using that institution to help the biggest creditor (Deutsche Bank) to the Trump Organization stay afloat?
"Federal Reserve drops toughening liquidity rules on foreign banks": https://www.ft.com/content/cf529274-ead3-11e9-a240-3b065ef5fc55
"All the Plenary's Men":
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