The Federal Reserve lifted on Wednesday its fed funds rate by 25 basis points to a range of 1% to 1.25%. It marked the fourth interest-rate hike since the financial crisis. The Fed increased interest rates despite declining inflation, setting up a plan for balance sheet reduction.
Bahrain, Saudi Arabia, the United Arab Emirates (UAE) and Egypt severed relations with Doha last week, accusing it of supporting Islamist militants and their arch-enemy Iran. Several other countries later followed suit. The recent dispute between Qatar and some of its neighbours is the most serious dispute among them in years, and has the potential to further destabilise an already turbulent region. But the crisis also presents a potential opportunity.
The U.K. has officially begun the formal process of leaving the European Union. It promises to be a messy breakup, with wrangling over shared assets, finances and the future of trade. Top EU negotiator, Michel Barnier, has warned that Britain faces severe disruption to air traffic, nuclear fuel shortages and delays in moving goods across the channel if an agreement on Brexit cannot be reached.
According to the Efficient Market Hypothesis (EMH) established by Fama in 1965, it is possible to make profits by trading on the market but it is impossible to make abnormal profits consistently without falsifying the hypothesis.
Ask anyone what the most important day of the year is to them and you will get answers ranging from their birthday to Election Day. How many will say their mother’s birthday? For some unknown reasons, mothers get overlooked or down played a bit.
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