News 

Investors are officially panicking, Citigroup says

“Citigroup’s Panic/Euphoria model hit panic levels after a massive drop in stock prices last month, Levkovich said” writes Fred Imbert for cnbc.com. It also broke into “panic” levels back in 2016 before the big post-election rally.Stock-market investors entered panic mode after the wild ride to end 2018, meaning it might be a good time to buy equities, according to Tobias Levkovich, chief U.S. equity strategist at Citigroup. Source: cnbc.com

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News 

Injuries and panic as Mount Etna eruption sparks early-morning quake that jolts Sicily

“The quake was also felt in the upscale Sicilian resort town of Taormina and in other towns in eastern Sicily” writes Associated Press for marketwatch.com. The quake struck north of Catania, the largest city in the eastern part of the Mediterranean island, but no damage or injuries were reported there.ROME (AP) — A quake triggered by Mount Etna’s eruption jolted eastern Sicily before dawn Wednesday, injuring at least 10 people, damaging churches and houses on the volcano’s slopes and prompting panicked villagers to flee their homes.A 71-year-old patient was being…

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Markets News 

Wall Street panic suggests market is bottoming and will rally in 2019, Jim Paulsen says

“December’s ugly stock market could help launch a 2019 rally to remember, according to Jim Paulsen” writes unknown author for cnbc.com. “The Fed may even ease, and maybe we have a 2019 year where the market can advance without rate increases.”. Even though Paulsen says the panic is subsiding, he acknowledges the secular bull market is on borrowed time. Source: cnbc.com

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News Regulators 

A flattening yield curve means it’s time to worry, but not panic, top economist says

“Still, while the flattening yield curve is cause for concern, it’s not yet time to panic, says LaVorgna” writes Keris Lahiff for cnbc.com. The Federal Reserve’s rate moves tend to influence the short-end of the curve, including the 2-year Treasury yield, more quickly.The yield curve inverts when shorter-term Treasurys yield more than longer-term Treasury yields.The yield curve has flattened to its lowest level since June 2007 with the 10-year Treasury note yield only around 10 basis points above the 2-year note.”The yield curve has almost always forecasted the direction of…

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GBP News 

Growth slumps to lowest in two years as businesses panic over Brexit 

“The economy risks grinding to a halt as Brexit panic grips businesses, with new data showing activity slowed sharply in November” writes Tim Wallace for telegraph.co.uk. Any score above 50 indicates growth, so this suggests stagnation across the biggest part of the economy.Economists had expected the PMI to rise to 52.7 in a modest acceleration of growth.GDP growth could be slashed to just 0.1pc in the final quarter of the year as a result, tumbling from 0.6pc in the previous three months. Source: telegraph.co.uk

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News 

Hotels see panic buttons as a #MeToo solution for workers. Seattle’s guest ban? Not so fast.

“Through company policy or legislation pushed by local officials, panic buttons have become increasingly widespread at hotels across the country” writes Julia Jacobs for seattletimes.com. Four months after Chicago mandated panic buttons, some small hotels are struggling to pay for the technology, said Alderman Michelle Harris.While the hotel trade group fights these rules, it has embraced panic buttons as worth a significant financial investment.Melara said she was cleaning a bathtub in a hotel room when she turned to see a guest staring at her.Chicago officials estimated that a hotel security…

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