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Probably Nothing to Worry About

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Probably Nothing to Worry About

Introduction

This article was posted on Tuesday, 11:17, UTC.

Hi Everybody,

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It’s been almost 10 years since the stock markets peaked before the financial crisis. Back then financial firms were buying up assets called CDOs, bad mortgage loans that had been bundled up and repackaged to look like low risk assets.

As we know, the global banking and government response to this overborrowing fad was of course to print more money and make it easier to borrow more.

In the Financial Times today, economics professor Frank Partnoy writes about the ugly sequel that is playing out right now.

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Except, instead of risky mortgages, it’s risky corporate loans that are being repackaged. The assets are conveniently called CLOs. An oddly suspicious name if you ask me.

It’s probably nothing to worry about though. After all, what are the odds that an overwhelming number of corporate loans could go bust all at once?

@MatiGreenspan
eToro, Senior Market Analyst

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Today’s Highlights

Mooch takes a Boot

Stocks High Dollar Low

Cryptos Move without Bitcoin

Please note: All data, figures & graphs are valid as of August 1st. All trading carries risk. Only risk capital you can afford to lose.

Market Overview

You can’t make this stuff up.

After only 10 days in the White House, Trump’s new communications director Anthony Scaramucci heard the famous two words “you’re fired!”

Mooch is a good sport though, apparently, he wanted to give Trump’s new Chief of Staff John Kelly “a clean slate.”

Somehow, former reality star Donald Trump has managed to make politics more drama filled than a good episode of Jerry Springer. We kindly thank him for making young Americans excited about politics again. It’s about time.

Wall Street remains impervious to White House drama and the Dow Jones closed out yesterday with another brand new all time record high.

Either because of the above or due to a weak handed Federal Reserve the U.S. Dollar has continued its descent. The Dollar Index has fallen below the critical support of 93 points. Light support exists at 92 but there isn’t much below that.

Commodities like Gold and Oil are up due to the weaker Dollar.

Just for the fun of it, here’s a chart of the U.S. Dollar compared to the popular cryptocurrency Ethereum since February.

The market cap of all cryptocurrencies has risen today to $94.5 billion despite the current crisis in the Bitcoin network.

Let’s have an amazing day ahead!

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.

The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.

Featured image from Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mati Greenspan

Mati Greenspan

https://www.etoro.com/

Senior Market Analyst at Etoro.com.

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Dmitriy Lavrov
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Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
Jonas Borchgrevink
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Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
P.H. Madore
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P. H. Madore lives in Arkansas with his wife and children. He has covered the cryptocurrency beat over the course of hundreds of articles for Hacked’s sister site, CryptoCoinsNews, as Read More
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Justin O’Connell is a cryptocurrency journalist who works have appeared in the U.S.’s third largest weekly, the San Diego Reader & VICE. // -- Discuss and ask questions in our community Read More
Mati Greenspan
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Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
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