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Selasa, 24 Oktober 2017

FINANCE INSIDER: 'Overdue fragility event'

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October 24, 2017

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

2017 could go down as one of the most boring years ever for the stock market.

Sure, the S&P 500 has closed at record highs 66 times this year, the most since the mid 1990s. 

But volatility has remained historically low. And on Monday, the S&P 500 completed its longest streak ever without a 3% intraday drawdown. At the close, it overtook the previous record of 241 days set in 1996.

According to Bank of America Merrill Lynch, the stock market is now vulnerable to an "overdue fragility event."

There's a bunch of hedge fund news today, so let's jump right in. 

Elsewhere in Wall Street news, there has been a shake-up at the top of Credit Suisse's US equities business.

In politics, the biggest roadblock for Trump's tax plan could be Trump himself. The tax plan could give a bigger boost to foreign investors than America's middle class, according to a new analysis. And two charts show why ripping up NAFTA wouldn't solve Trump's big issues with the deal.

And severe weather has cost the US government $350 billion since 2007 — and climate change could make it much worse.

In markets news and views:

Lastly, Aston Martin is building luxury condominiums that will cost up to $50 million each — see inside.

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