Tyler Durden's picture

The World Has Gone Mad - Fed's Lacker Edition

During a Q&A this evening, Richmond Fed's Jeffrey Lacker unleashed a stream of what can only be described as total idiocy:

*LACKER: INDICATORS POINT TO NEED TO RAISE RATES THIS YEAR (US macro data is the worst since Lehman?)
*LACKER: I'M UNDETERRED BY RECENT WEAKNESS IN DATA, "CAN'T GO ON FOREVER" (Hope is a strategy?)
*LACKER: DON'T EXPECT UNUSUAL MARKET VOLATILITY AROUND RATE RISE (because the Taper Tantrum went well?)

These are the people that the world trusts to centrally plan the world? The people that are there to 'save' investors at the merest downtick in stocks? They seriously have no clue whatsoever!!



Tyler Durden's picture

China's True Economic Growth Rate: 1.6%

While the world gasped last night when China's production-based, and goalseeked GDP number came in at 7.0% - the lowest in 6 years the truly scary numbers were in the details, which revealed unprecedented deterioration. Details which suggest China is now growing at a 1.6% annual pace: the lowest in modern history.



Tyler Durden's picture

Algos Celebrate Virtu's IPO With Massive Euro Stop Smash

EURUSD just exploded 80 pips higher as Japanese markets opened (once again for no good reason - just like DAX at the EU close). No ther markets are moving with it (as both spot and futures are poked higher on relatively heavy overnight volume). We assume this is just the machines over at Virtu (which IPO'd at a $19 price tonight) celebrating... after all they said the FX market was the next to be rigged by them (allegedly)...



Tyler Durden's picture

The Weak Suffer What They Must: Yanis And The End Of Europe

Yanis Varoufakis’ publisher, Public Affairs Books, posted a promo for an upcoming book by the Greek Finance Minister, due out only in 2016 that reveals a few things that haven’t gotten much attention to date. Varoufakis simply analyzes the structure of the EU and the eurozone, as well as the peculiar place the ECB has in both. Some may find what he writes provocative, but that’s beside the point. It’s not as if Europe is beyond analysis; indeed, such analysis is long overdue. Indeed, it may well be the lack of it, and the idea in Brussels that it is exempt from scrutiny, even as institutions such as the ECB build billion dollar edifices as the Greek population goes hungry, that could be its downfall. It may be better to be critical and make necessary changes than to be hardheaded and precipitate your own downfall.



Tyler Durden's picture

The Fed Never Learns - Another Inventory Dump Is Brewing

The fairy dust peddlers who moonlight as Wall Street economists were out in force yesterday after March retail sales came in with a positive m/m change for the first time since November.  This purportedly confirms that we’re back on track for a big rebound in Q2. In any event, what happens next is not too hard to figure. Unless you are a Wall Street economist.



Tyler Durden's picture

America, Meet Your Brand New Largest Foreign Creditor

Exactly one month ago we wrote that "Japan Ties China As America's Largest Creditor" when, according to Treasury International Capital in the month of January, China sold just over $5 billion in Treasurys while Japan bought $8 billion in US paper. Fast forward to today when we are pleased to announce that, as expected, the trend has continued and for the first time since the great financial crisis, Japan is once again America's largest foreign credito.



Tyler Durden's picture

This Is Why Sandisk Is Firing 5% Of Its Workers (In Charts)

Sandisk is down around 5% after-hours after drastically lowering expectations (sees $5.4bn FY Revs vs Prev Est. $6.1bn). As a result, the CEO just announced that SANDISK LOWERING NON-FACTORY HEADCOUNT BY 5% IN Q2. It did not take long to discover why they felt the need to do that as the Sandisk CEO shunned Larry Fink and unveiled an ADDITIONAL $750M IN BUYBACKS THIS YR. So to the 5% of employees about to get laid off - Thank you for your service and thank you more for the wealth you are creating for 'others'.



Tyler Durden's picture

High-School-Educated Chinese Speculators Have Learned Well From US Investors

Because when the macroeconomic backdrop is as bad as it's ever been... there's only one thing for it - panic-buy equities...



Tyler Durden's picture

ECB President Mario Draghi Attacked By Protester Screaming "End ECB Dick-tatorship"

It was bound to happen sooner or later: moments ago Mario Draghi was attacked by what appears to be a female (non-Greek) protester screaming "End ECB Dick-tatorship" while delivering his prepared remarks.



Tyler Durden's picture

All Hail Hillary: Students Locked In Classrooms As Clinton Visits "Everyday Iowans"

Yesterday we were told about Hillary's "Everyday Americans" and exposed the ugly reality of just who stands behind her. Today she meets with some "Everyday Iowans" but as you will read... the attendees were carefully selected and students were locked inside classrooms to avoid any embarrassing questions being asked... We wonder if Wall Street employees are locked in their offices when she visits the executives suites. Somehow, I doubt it.



Tyler Durden's picture

Europe Will Be Very Angry When It Learns Greece Is About To Buy Russian Anti-Aircraft Missiles

Just days after Russia lifted sanctions on providing anti-aircraft missiles to Iran, Reuters reports that The Greeks are in talks with Russia to purchase missiles for the S-300 defense system. Greece, a NATO member, has been in possession of the advanced Russian-made systems since the late 1990s and in a defiant show of independence towards Troika, is now negotiating with Russia for the purchase of additional missiles and for their maintenance.



Tyler Durden's picture

China Takes Aim At Dollar Reserve Status: Promotes Yuan In Investment Bank

The Asian Infrastructure Investment Bank will establish an AIIB currency basket with China set to push for the yuan to take a prominent role and for “special currency funds” to be established in order to issue yuan-denominated loans through the fund. "The AIIB's grand vision for infrastructure investment [comes] with challenges but China should do its best to establish the yuan as a currency for settlement and denomination," one analyst says.



Tyler Durden's picture

NFLX Goes Full Amazon: Burns Record Amount Of Cash But Stock Surges On Jump In International Subscribers

The Amazon model of burning countless amounts of cash in hopes of one day reaching profitability has fully arrived at Netflix.



Tyler Durden's picture

America Divided - The Taxed & The Taxer

Presented with no comment...



Do NOT follow this link or you will be banned from the site!