GS could likely win a court battle, and easily afford any fine imposed. Much of the damage could be done before that is resolved, even assuming markets were rational. As noted in The Week Ahead: Stocks, Commodities, Forex Key Market Drivers April 19th- 23rd. With concerns that a good earnings season is now already priced in, the Goldman Sachs scandal could easily catalyze a forex that many expected soon anyway. Stocks had already turned negative before the Goldman news hit the tape. GOOGBank of America NYSE: BAC and GE all reported excellent quarters and all three sold-off on the news. We saw the same thing occur last quarter when investors were eager to front-run the earnings news, but were disappointed to find out that the news was already priced in by the time the reports were released. At this point, a very good earnings season is more than common knowledge and the summary surge in equities is evidence of that. Investors are already selling the earnings news so any positive catalyst for equities will likely come from other sources. There is none on the scene. Perhaps most alarming with regards to the Goldman news is the level of uncertainty it will create, given the potentially widespread ramifications. Forex Catalyst For Summary of Rally for Banks, Stocks, Other Risk Assets? Bank health is challenged as is, without even considering the effects forex the EU and Goldman Sachs fiascoes. However, it could so easily snowball into something much worse, compounded by an EU debt crisis that is not going away. Research analyst, FX risk hedged income, low risk forex, macro market outlook. The Sensible Guide To Forex. Timing and Context Are Awful The timing of the scandal could hardly be worse. Stocks, Commodities, Forex Key Market Drivers April 19th- 23rd The current rally is in trouble Fundamental Problems: With the EU debt crisis once again unraveling and China getting scandal serious about slowing its growth, it has plenty of headwinds Given the above, and that stocks are already at 52 week highs, markets were already selling off after the good earnings announcements Friday BEFORE the Goldman Sachs fraud charges were announced, and, as we warned, is likely to be sold off on anything less than stellar earnings results. Inter-market indicators are also bearish: Prior to the last stock pullback scandal late January, gold and oil also were well into their corrections before stocks even got started. Over the scandal weeks, the 1 safety currency, the Japanese yen, has been gaining ground against all major currencies despite the lack of significant positive Japanese economic news, and the aftermath of Japanese exporters' yen buying spurt was over. The financial sector has lead markets in and out of rallies. This scandal is a likely direct hit on the sector, which is already challenged by widespread but hidden solvency issues and a new round of mortgage resets and spikes in nonperforming real estate summary. Now the sector must also contend with a newly hostile regulatory environment, reduced earnings, soaring legal costs and liabilities. These new threats may ultimately prove manageable, but in the short term they could create tremendous uncertainty for an already stressed sector and stock market. Macro ViewForexMarket OutlookAlternative Investing. Want to share your opinion on this article? Disagree with this article? To report a factual error in this article, click here. Follow Cliff Wachtel and get email alerts.
The good thing about Nigerian Jollof rice is that you can spice to your taste, one person might choose to make with chicken spices while another might decide to use curry and thyme or even just a seed of nutmeg and they will all end up with a delicious plate of rice.
They will probably less respect and not voluntarily follow a leader who is selfcentered.
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In the book Things Fall Apart successfully expressed the conflicts between the western Christian civilization and African Igbo society.
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The good thing about Nigerian Jollof rice is that you can spice to your taste, one person might choose to make with chicken spices while another might decide to use curry and thyme or even just a seed of nutmeg and they will all end up with a delicious plate of rice.