Morning look

CFTC is wary of trade documentation for central clearing (here).  Banks who were the major players in the OTC derivatives space are still fighting over control of the exchange traded version, through the FIA and the ISDA.

As the shutdown drama continues,  earnings trickle in, notice yesterdays downgrade of several banks because of the impact bond trading may have on earnings. The medical space doesn’t seem so bad with both Walgreens and Merck out saying good things. It is the first of the month, Q3 is over and not that many appear to have warned on earnings. Maybe I should adjust my pessimism a tad.

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