Todays Markets

CNBC: Sterling could certainly tank — but it won’t be due to Brexit
Surely there’s only one way the British pound can trade in the coming months. Currency experts are anxiously fixated on what the final details for Brexit will look like. But it seems simple to me: If it’s good it’s good, and if it’s bad then the country will soon make it better. [more...]

Bloomberg: Asian Stock Declines Deepen as Treasuries Advance: Markets Wrap
A sell-off in equities resumed with Asian stocks and U.S. futures sliding as Chinese shares snapped a two-day rally ahead of a slew of key blue chip earnings reports this week. The dollar traded around the highest level in two months and Treasury yields fell. [more...]

Bloomberg: The World’s Fourth-Biggest Oil Producer Can’t Keep the Lights On
Iraq is fast becoming a global oil powerhouse, gaining stature in OPEC after it surpassed Canada this year as the world’s fourth-biggest producer. But the war-ravaged country has little to show for its feat. [more...]

Bloomberg: Renault Misses Third-Quarter Sales Estimate, Cuts China Outlook
Renault SA’s third-quarter revenue declined in the face of a slowdown in vehicle registrations in Africa and India, missing analyst forecasts. The French manufacturer also cut its market outlook for China, where a slowing economy has weighed on car sales. [more...]

Bloomberg: Investors Back European E-Scooter Startups to Rival U.S. Leaders
European investors are confident it’s possible to build a major local competitor to U.S. electric-scooter giants like Bird Rides Inc. and Lime, and the checks are starting to be written. [more...]

Bloomberg: Brussels Edition: Uncharted Territory
The European Commission may issue a negative opinion on Italy’s budget today, taking the unprecedented step of essentially rejecting a country’s spending plans. The move may not come as a surprise since Italy hasn’t addressed any of the commission’s concerns. [more...]

Bloomberg: Goldman Warns It's Not Over Yet for Italian Debt Market Woes
Italy’s bonds have been given a shot in the arm by retaining their investment grade for now, but markets may have to increase the pressure on the government to change policy, according to Goldman Sachs Group Inc. [more...]

Bloomberg: Quants Now Trade Exotic Stuff. But Can They Handle Illiquid?
The search for elusive alpha is sending a handful of computer-driven hedge funds trawling the remotest corners of financial markets. They’re a subset of the trend-following strategies known as commodity trading advisers, or CTAs. [more...]

Bloomberg: Italian Assets Climb After Moody's Review Damps Budget Tensions
Italian bonds rallied after the nation said it will ensure its deficit does not break a 2.4 percent target next year and Moody’s Investors Service kept it at investment grade. [more...]

Bloomberg: Rupee Forecaster ING Gets More Bearish as Currency Rebounds
ING Bank NV has lowered its year-end rupee forecast just as the currency is staging a rebound.
Rising oil prices and political uncertainty ahead of state elections will see Asia’s worst-performing currency resume losses. [more...]

Reuters: Asian shares buckle to European woes, Saudi anxieties
Asian shares fell on Tuesday as earnings season nerves in the U.S. dented Wall Street, while a cocktail of negative drivers from Saudi Arabia’s diplomatic isolation to concerns over Italy’s budget and Brexit talks depressed sentiment. [more...]

Reuters: Oil dips as Saudi Arabia pledges to play 'responsible role' in market
Oil prices dipped on Tuesday after Saudi Arabia pledged to play a “responsible role” in energy markets, although sentiment remained nervous in the run-up to U.S. sanctions against Iran’s crude exports that start next month. [more...]

CNBC: Two ‘unstable’ OPEC nations may decide whether oil takes another run at $100 a barrel
Two OPEC members could soon determine whether oil prices spike back towards $100 a barrel — and those countries are not Saudi Arabia and Iran. [more...]