October the 19th is in the books here on
Wall Street's here's the New York minute
calm continues to break out it's been
another day of steady and unspectacular
gains both for stocks and for bonds with
no nasty shocks either from the feds
Beige Book or from us earning results
there was also no shop from the chinese
gdp numbers that we received overnight
remarkably stable many people think
perhaps suspiciously stable reinforcing
the suspicion that those numbers are
somewhat fixed the big a catalyst to
look forward to tomorrow is the European
Central Bank meeting if we take a look
at how eurozone bank shares have
performed you can see that they are now
closing today at a fresh post brexit I
that could be significant because it's
the damage that low rates due to bank
profitability that has been there
prompting suggestions that the ECB could
retreat from negative rates but for that
we have to get through the third
presidential debate between Hillary
Clinton and old Trump if you take a look
at the Real Clear Politics average you
can see that mr. Trump's polling that's
almost exactly the same level he was at
the beginning of the year perhaps we
didn't need to bother with any of this
campaign and that's the New York minute