"Do Not Worry! Do Not Panic!" Warns Hong Kong Exchange CEO Ahead Of Today's Market Open
Submitted by Tyler Durden on 04/09/2015 - 18:09
As everyone settles down in anticipation of another session of parabolic Hong Kong euphoria driven by desperate housewife traders, or a manic plunge straight down, none other than the CEO of the Hong Kong Exchange, Charles Li, found some time to pen a blog post to give "a little advice to investors", providing vivid aphorisms "Investment is like swimming: if you do not enter the water, you will never learn to swim" and to caution speculators that the opportunity is "not to quickly make a fortune, but ... to provide long-term wealth preservation and appreciation" and that there is also such a thing as risk as everyone scrambles to chase the latest bubble breakout. His blog post's punchline: "Do not worry! Do not panic!" We doubt anyone will panic, at least not until the selling begins.
- Comments: 15
- Reads: 3,906
The FBI Busts Up Another of its Own Terrorist Plots and Politicians Rush to Blame the First Amendment
Submitted by Tyler Durden on 04/09/2015 - 18:35
"What does a government wanting its population to remain in fear so as to justify a total surveillance state, and a military-intelligence industrial complex hooked on billions in wasteful corporate welfare do in the absence of genuine terrorist plots? Create artificial plots, naturally."
- Comments: 4
- Reads: 1,646
America's Top 100 Oil Fields
Submitted by Tyler Durden on 04/09/2015 - 17:34
With everyone's attention in recent months falling squarely on the US oil industry, and specifically how much longer various shale companies will be able to keep operating now that Saudi Arabia is openly on a war path with US marginal producers, we thought it may be an opportune time to remind readers just where America's Top 100 oil fields are located based on the EIA's most recent report. A recap, if you will, of the domestic oil theater of war with America's "closest ally" in the middle east.
- Comments: 21
- Reads: 8,587
Teachers Warn Of "Victorian" Poverty As Socks In Short Supply And Stocks At All-Time Highs
Submitted by Tyler Durden on 04/09/2015 - 17:05
"Children in 2015 should not be hungry and coming to school with no socks on and no coats - some children are living in Victorian conditions - in the inner cities," a UK teacher tells BBC. With the FTSE near all-time highs, we suspect this is yet another example of how the deliberate inflation of financial assets works to eradicate the middle class.
- Comments: 67
- Reads: 6,939
NATO Conducts First Test Of "Russia Rapid Response Force"
Submitted by Tyler Durden on 04/09/2015 - 16:37
"NATO completed the first military drills for its new rapid reaction force. From Tuesday through Thursday, more than 1,500 troops took part in exercise 'Noble Jump,' designed to test whether troops assigned to NATO’s new Spearhead Force, or Very High Joint Readiness Task Force, could be ready to deploy 48 hours after receiving an order-to-move." In other words: NATO could deploy troops to counter Russian "aggression" within 2 days.
- Comments: 103
- Reads: 8,572
Can't Wait To Read Bernanke's Memoirs? Here Are All The Timeless Statements By The Former Fed Chairman
Submitted by Tyler Durden on 04/09/2015 - 16:13
We know it will be next to impossible to wait until October when this book of toner repair and printer cartridge replacement wisdom comes out, here is a sampling of timeless soundbites by the former Fed Chairman and current blogger, that should be enough to hold readers over.
- Comments: 46
- Reads: 9,056
"I’m The First To Say: I Can’t Do It" - The Energy Junk-Bond Implosion Just Claimed Its First Victim
Submitted by Tyler Durden on 04/09/2015 - 15:47
The universe of entities who have blown up in the past year trading oil and commodities is getting increasingly more crowded and includes among them such former luminaries as one-time oil trading god (if mostly in the eyes of Citigroup) Andy Hall. However, until now there not been any prominent casualties among the group of indirect investors in the energy space, those investing in the stocks or debt of energy names, and especially those most at risk from the oil price collapse: junk bond investors. That changed today when as WSJ reported earlier, Kamunting Street, which managed about $1 billion at its peak, announced it was returning capital to investors, as a result of plunging oil prices and wrong way junk bond bets tied to hard-hit energy companies which had gone sour over the past nine months.
- Comments: 21
- Reads: 14,763
Masked Canadian Students Barricade Themselves In Montreal University, Police Storm Building
Submitted by Tyler Durden on 04/09/2015 - 15:38
Canadian students are (still) restless...
- Comments: 138
- Reads: 24,851
The Chinese Bank That Humiliated Barack Obama Is Hiring
Submitted by Tyler Durden on 04/09/2015 - 15:25
Are you currently an official at a US-dominated multinational institution seeking an exciting new career opportunity? If so, The Asian Infrastructure Investment bank may be just the place for you...
- Comments: 40
- Reads: 11,992
"Saudi Arabia Is Going For it" - Why The Saudis Just Boosted Oil Production To A Record High
Submitted by Tyler Durden on 04/09/2015 - 14:58
Instead of leaving its own production flat in an attempt to stabilize oil prices and hit its "optimistic" outlook sooner rather than never, Saudi Arabia would boost production quite sharply to claw back market share. Specifically al-Naimi, revealed that the kingdom’s oil production in March was 10.3-million barrels a day – a record high. .. Why is Saudi Arabia opening the spigot? There is no doubt that country’s own domestic demand is rising, thanks to heavy investment in new refineries, requiring more production. But it also appears that Saudi Arabia is making renewed push for market share for fear that a gusher of Iranian oil will soon hit the export markets as the Iranian embargo is ratcheted back
- Comments: 73
- Reads: 18,886
America's Intervention Legacy: "Iraq Is Finished"
Submitted by Tyler Durden on 04/09/2015 - 14:27
As the international community struggles to understand how the interplay between a series of US foreign policy failures and geopolitical wrangling over what are viewed as “strategic” Middle Eastern states has somehow managed to produce multiple bloody proxy wars, there are many who still ask: “Who is ISIS?” A new piece from The Atlantic seeks answers from Iraqis with first-hand experience.
- Comments: 103
- Reads: 22,510
Another Electric Car Bites The Dust: Current Chevy Volt To Go The Way Of The Aztek Due To Plunging Sales
Submitted by Tyler Durden on 04/09/2015 - 14:07
GM is halting production of the Chevrolet Volt electric car for the summer to whittle down about seven months of unsold inventory and smooth the way for the next generation of the plug-in hybrid sedan. Production of the current model, which costs $34,000 and up before federal tax credits, will halt early next month, the Detroit auto maker has said. It will be replaced by a 2016 model with a sleeker design and up to 50 miles range on an electric charge. That second generation Volt will go into production at the end of the summer.
- Comments: 156
- Reads: 16,762
Presenting The "Biggest Consensus Trade, Ever"
Submitted by Tyler Durden on 04/09/2015 - 13:29
- Comments: 103
- Reads: 73,522
Man Goes On Murderous Shooting Spree In Central Milan Court, Kills Judge, Lawyer, Witness
Submitted by Tyler Durden on 04/09/2015 - 13:18
In a shocking development, earlier today in the Palace of Justice in Central Milan located 1 kilometer away from Milan's Duomo cathedral - a major tourist attraction - a scene unfolded as if lifted from an Italian mob film, when a man on trial in a bankruptcy case opened fire killing the judge, a lawyer and a witness in the case against him according to emergency services reports. Reuters reports that the Police arrested the man, whom they named as Claudio Giardiello, in Vimercate, a town north of Italy's financial center, Interior Minister Angelino Alfano tweeted. He is being held at a military barracks nearby.
- Comments: 89
- Reads: 10,645
Ugly 30 Year Auction Tails Big As Direct Bid Tumbles To Lowest Since March 2013
Submitted by Tyler Durden on 04/09/2015 - 13:15
Yesterday's 10 Year auction was impressive, but one can't say the same about the just concluded, and final for the week, 30 Year reopening auction of Cusip RK6 which saw a whopping tail 3 bps to the 2.567% When Issued, when the the High Yield priced at 2.597% (still, about 8 bps tighter than the March 30 auction). The main driver of this subpar demand was not the Bid to Cover ratio, which while very low in historical terms was unchanged from last month at 2.18%, but the collapse in the Direct bid, which took down just 7%, the first single digits Direct take down since May of 2014, and the lowest overall since the 4.9% in March of 2013. However, the Direct slack was more than eagerly sopped up by foreign central banks which took down a near record 51.3%, just shy of the all time high of 53.2%. Dealers were left with 41.8%.
- Comments: 18
- Reads: 4,362
