Do you know what happens when you poke a bear? Do it often enough and you’re likely to get bit. Today I’m going to update you on 3 big bears that are already nibbling at our toes: Repos that threaten MMs, additional stressors in the china trade war and what’s happening with real estate. A big bite from any of these can rip the heart out of the global economy…coming up.

Slides and Links:

https://www.bloomberg.com/news/articles/2019-10-21/jpmorgan-warns-u-s-money-market-stress-likely-to-get-much-worse

https://apps.newyorkfed.org/markets/autorates/temp

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

https://www.nytimes.com/2019/09/06/business/china-economy-reserve.html

https://www.bloomberg.com/news/articles/2019-10-16/china-unexpectedly-injects-28-billion-of-cash-as-growth-slows

https://www.cnbc.com/2019/01/16/chinas-central-bank-injects-record-amount-to-stimulate-economy.html

https://timesofindia.indiatimes.com/business/international-business/chinas-gdp-growth-slows-to-6-in-3rd-quarter-lowest-in-27-years/articleshow/71641426.cms

https://www.ft.com/content/2bbc1856-ef9c-11e9-bfa4-b25f11f42901?segmentId=a7371401-027d-d8bf-8a7f-2a746e767d56

https://www.wsj.com/articles/fed-to-increase-temporary-liquidity-available-to-markets-11571867401

https://www.cnbc.com/2019/10/21/goldman-warns-buybacks-are-plummeting.html

https://finance.yahoo.com/news/p-500-buybacks-decline-significantly-153000766.html

https://www.cfosurvey.org/press-release/optimism-sinks-to-3-year-low-recession-expected-before-2020-election/

https://www.wsj.com/articles/mortgage-costs-outpaced-by-drop-in-interest-rates-11570699801

https://www.housingwire.com/articles/housing-market-flashing-recession-signal/

https://www.sentierresearch.com/pressreleases/Sentier_Household_Income_Trends_Press_Release_August_2019_10_03_19.pdf

https://www.nar.realtor/newsroom/existing-home-sales-increase-1-3-in-august

https://www.imf.org/external/research/housing/images/pricetoincome_lg.jpg

https://www.cnbc.com/2019/10/17/nobel-laureate-myron-scholes-says-the-smart-money-is-pessimistic-betting-on-inflation.html?recirc=taboolainternal

https://www.kitco.com/news/video/show/Kitco-NEWS/2581/2019-10-22/UAE-next-in-line-for-gold-trading-platform-what-this-really-signals#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DKitco-NEWS

https://www.cnbc.com/2019/10/17/many-americans-say-theyre-not-ready-for-a-recession.html?recirc=taboolainternal

https://www.cnbc.com/2019/10/19/amercians-are-more-stressed-than-ever-over-money-what-you-can-do-about-it.html?recirc=taboolainternal

https://apnews.com/0e1a2d6d0e5c41059737e54978ba3551

https://www.nytimes.com/2019/05/17/world/americas/venezuela-economy.html