• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Tyler Durden's picture

Gold & Silver Surge To New Cycle Highs After China Strengthens Yuan By Most In 11 Years

With Japan closed, and unable for now to do more damage (or damage control), China stepped in with some modest turmoil of its own by strengthening the Yuan fix by the most since 2005, pressuring the USD weaker for the 5th day in a row. Commodities have tended to push higher on the back of this with Crude above $46.50 but Gold and Silver have surged to fresh 15 month highs (over $1275 and near $18 respectively).


Tyler Durden's picture

USDJPY Plunges As Dollar Drops To 11 Month Lows, Commodities Rise

Following yesterday's Yen surge in the aftermath of the disappointing BOJ announcement, the pain for USDJPY long continued, with the key carry pair tumbling as low as 106, the lowest level since October 2014 before stabilizing around 107, and is now headed for its biggest weekly gain since 2008, which in turn has pushed the US dollar to to its lowest close in almost a year as signs of slowing growth in the U.S. dimmed prospects for a Federal Reserve interest-rate increase. As a result, global stocks fell and commodities extended gains in their best month since 2010.


Tyler Durden's picture

ZARpocalypse Now? BofAML Warns "Summer Of Shocks" Looms

The mysterious ZARJPY indicator of global turmoil is flashing red once again as BofAML's Michael Hartnett warns of soaring sentiment into a potential "summer of shocks." Wall Street/Fed continues to play "cat and mouse" and (hedge fund) redemption, (central bank) repression, (market) regulation risks remain very high as the flash crash/pain trade era to continue.


Tyler Durden's picture

It's The Debt Stupid: Scotiabank Warns "At Some Point 'The Future' Becomes 'Today'"

Low interest rates attempt to buy time. The idea is to bring consumption forward until the economy heals on its own as capital projects are completed. But those projects never began this time. The end result is ever-higher debt that borrows more and more from the future. Unfortunately, it borrows from the future without making the future any brighter through solutions to root causes of economic ailments. At some point, the “future” becomes “today”.


Tyler Durden's picture

Massive Oil Theft By Pirates Costs Nigeria $1.5 Billion Every Month

Depressed oil prices, rampant corruption, and pipeline vandalism are only parts of Nigeria’s oil problem. It’s now losing a massive 400,000 barrels of crude daily to pirates in the Gulf of Guinea, an amount equal to the entire daily export capacity of its Forcados terminal. Overall damage from piracy, theft and fraud for Africa’s largest oil exporter is estimated at some $1.5 billion a month...


Tyler Durden's picture

All Depressions Are Not Created Equal

It has been said that history may not repeat but it sometimes rhymes. Just as the generals always seem to fight the last war people seem to prepare for the last depression. Times change and the mechanism that leads to misfortune changes with it. Looking at the past may not give us the clear answer to how to deal with the future but it can help us to determine what might happen and how to deal with it when the time comes.


Tyler Durden's picture

"It's Hard To Believe" - Establishment Stunned As Trump Gains 'Wealthy, Well-Educated' Voters

Not only is Donald Trump likely to gather the most votes of any GOP Presidential nominee ever, having swept the East Coast and crushed the anti-Trump alliance between Kasich and Cruz even before it made the news cycle; but now, as Reuters reports, the GOP establishment faces an ever bigger problem. Wealthy, well-educated voters helped carry the Republican front-runner to victory this week - a demographic the famously blunt-spoken billionaire had struggled to attract in the past.


Tyler Durden's picture

Russian Fighter Jet Flies Within 50 Feet Of US Spy Plane Over Russian Naval Base

“On April 21, a U.S. Navy P-8 Maritime Patrol reconnaissance aircraft flying a routine mission in international airspace was intercepted by a MiG-31 Russian jet in the vicinity of the Kamchatka Peninsula,” Cmdr. Dave Benham, a spokesman for the Pacific Command, told the Washington Free Beacon. While Benham added that the intercept was “characterized as safe and professional" there was more to the story as another defense official familiar with the MiG-31 intercept said the jet flew within 50 feet of the P-8, a maritime patrol and anti-submarine warfare aircraft.


Tyler Durden's picture

Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short'

Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine "the financial system substantially more stable."


Tyler Durden's picture

This Is Where America's Runaway Inflation Is Hiding

Deflation, deflation everywhere... except for those 43 million Americans who are being slammed with rent inflation soaring at just over 8% every year, the highest on record.


Tyler Durden's picture

Why The US Output Gap Means The 10 Year Is Going Below 1%

In an asset management context, US Treasury interest rates tend to trend lower when there is an output gap and trend higher when there is an output surplus. This simple, yet overlooked rule has helped to guide us to stay correctly long US Treasuries over the last several years while the Wall Street community came up with any reason why they were a losing asset class. We continue to think that US Treasury interest rates have significant appreciation ahead of them. As we have stated before, we think the 10yr US Treasury yield will fall to 1.00% or below.


Tyler Durden's picture

Visualizing China's Rising Dominance In Trade (In 4 Shocking Maps)

The United States is the number one trading partner for 56 countries, with important relationships throughout North America, South America, and Western Europe. Meanwhile, China is the top partner for 124 countries, dominating trade in Asia, Eastern Europe, Africa, and Australia.


Tyler Durden's picture

Why Is JPM's "Quant Guru" Suddenly Worried About The "Endgame"

"Increased government spending, financed by central banks could indeed create inflation, but will further elevate the problem of debt viability. If investors lose confidence that the debt can ever be repaid, they will reduce their holdings, increasing the cost to governments or inviting more central bank buying. This can eventually result in the devaluation of all currencies against real assets such as gold, high inflation or even outright defaults (as was the case in Greece). If such a trend develops in one of the large economies, it could have far-reaching consequences."


Tyler Durden's picture

Junk Economics: Michael Hudson Rages "Wall Street Has Taken Over The Economy.. & Is Draining It"

Everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that’s all rejected in favor of a rentier class evolving into an oligarchy. Financiers in the 1% are going to pry away the public domain from the government and privatize it so that they get all of the revenue for themselves. It’s all sucked up to the top of the pyramid, impoverishing the 99%. “As long as you can avoid studying economics, you know what’s happened. Once you take an economics course you step into the brainwashing of an Orwellian world.”


Tyler Durden's picture

China Bond-Sale Cancellations Soar As BofA Warns "Default Risk Is Mispriced"

While BofA's base-case calls for "no crisis," the soaring levels of bond-sale cancellations hitting the non-government credit markets is starting to make Asia strategist David Cui nervous...


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