Glencore CDS Soar To 6 Year High After Bankruptcy Of US Subsidiary, Ongoing Copper Carnage
Submitted by Tyler Durden on 01/11/2016 - 14:34
The default of Sherwin Alumina, a US subsidiary of Glencore, refocused the market's attention on the one company which in September was among the hardest hit in the post-China devaluation rout, and the immediate result was that while Glencore stock plunged and is once again approaching all time lows, a more ominous development was that GLEN's CDS spiked to as much as 950 basis points, the highest since April 2009 and suggesting far more pain is in store for the commodity trading giant.
China's Hard Landing To Trigger Meltdown In India: "We Will See Another Crisis"
Submitted by Tyler Durden on 01/11/2016 - 14:16
The collapse of China's economy will have serious implications for India, the country's top investment banker warns. With exports in free fall and the government caught between fiscal retrenchment and the need to keep the economy afloat, it could be a rough year for the country Goldman swears will be a top economic performer in 2016.
Bear Market: The Average U.S. Stock Is Already Down More Than 20 Percent
Submitted by Tyler Durden on 01/11/2016 - 14:00
An angry bear has been released after nearly seven years in hibernation, and the entire world is going to be absolutely shocked by what happens next.
10 Year Could Drop Below 2% Within Days, Citi Predicts
Submitted by Tyler Durden on 01/11/2016 - 13:47
The risk of a fracture in risk markets when lower liquidity meets forced selling, is high in our view. Should this weakening of spread sectors in fixed income continue, we will see a further rally in Treasuries – back in Aug/ Sep, 10y USTs broke below 2%, and there is no reason we can’t get there later this month.
48 Dead In String Of ISIS Attacks Across Iraq Targeting "Rejectionist Heathens"
Submitted by Tyler Durden on 01/11/2016 - 13:40
"Police and medical officials, who spoke on condition of anonymity because they were not authorized to brief reporters, say the gunmen set off a car bomb at the entrance to the mall on Monday before moving in."
Trannies, Small Caps Breakdown Into Bear Market; S&P, Nasdaq Collapse Into Correction
Submitted by Tyler Durden on 01/11/2016 - 13:39
Carnage continues. Small Caps have now joined Trannies in bear market territory (down 20% from the highs to September 2014 lows). S&P 500 is now in correction mode (down 10.7% from all-time-highs) as is Nasdaq.
Teenage "Terrorist" Attacks Teacher With Machete In France
Submitted by Tyler Durden on 01/11/2016 - 13:32
Just days after a man waving a meat cleaver barged screaming into a police station in northern Paris, a teenager wielding a machete and shouting "Allahu Akbar" attacked a worshipper at a Marseille synagogue on Monday. The man was saved by the Torah - literally.
WTI Crude Collapses To $30 Handle, Stocks Plunge As Rate-Hike Odds Tumble
Submitted by Tyler Durden on 01/11/2016 - 13:25
With rate hike odds for March plunging from over 55% a week ago to just 38% now, it appears faith in The Fed has utterly failed. WTI traded down to $30.97 - the lowest ssince Dec 2003.
"Nothing Is Moving," Baltic Dry Crashes As Insiders Warn "Commerce Has Come To A Halt"
Submitted by Tyler Durden on 01/11/2016 - 13:05
"Commerce between Europe and North America has literally come to a halt. For the first time in known history, not one cargo ship is in-transit in the North Atlantic between Europe and North America. All of them (hundreds) are either anchored offshore or in-port. NOTHING is moving. This has never happened before. It is a horrific economic sign; proof that commerce is literally stopped."
Yuantervention Extreme - Offshore Yuan Explodes 850 Pips Higher, Biggest Jump Ever
Submitted by Tyler Durden on 01/11/2016 - 12:59
While some central banks prefer to stealthily 'manage' their markets, a bid here, a stick-save there, today's epic intervention, short-squeeze, carry-trade-carnage in Offshore Yuan is the most visible hand yet in the new normal world of central planning. USDCNH is now down over 850 pips on the day - a record 1.25% strengthening in the offshore Yuan...
FBI Said To Probe If Hillary Clinton Violated Public Corruption Laws
Submitted by Tyler Durden on 01/11/2016 - 12:42
In what may be the latest bad news for Hillary Clinton, whose various "previous life" scandals - from emails, to Clinton foundation donations - refuse to go away, the Hill reports, citing Fox News, that the FBI has expanded its investigation of Hillary Clinton's use of a private email server during her time as secretary of State to determine whether her Clinton Foundation work violated public corruption laws.
Potentially Worth Trillions, But Is Aramco A "Good Deal" For Investors?
Submitted by Tyler Durden on 01/11/2016 - 12:25
Saudi Arabia’s deputy crown prince Muhammad bin Salman made headlines this week when he said that the kingdom was considering an IPO of Saudi Aramco, the nation’s state-owned oil company. But there are reasons to doubt that 1) the Saudi government will actually follow through on the plan, 2) even if some shares are listed, operations will change significantly, and 3) that such a move presents a huge opportunity for investors. Sure, Aramco might be worth trillions in theory. But returning cash to shareholders is not and will not be the top priority.
Is The Auto Loan Bubble Ready To Pop?
Submitted by Tyler Durden on 01/11/2016 - 11:45
On Tuesday, it was announced that over seventeen million new vehicles were sold in 2015, the highest it’s ever been in United States history. While the media claims that this record has been reached because of drastic improvements to the US economy, they are once again failing to account for the central factor: credit expansion. The auto bubble has yet to burst, but its negative effects are already starting to gradually appear.
China Warns No "V-Shaped" Recovery Is Coming; Says "There Will Be No Strong Economic Stimulus"
Submitted by Tyler Durden on 01/11/2016 - 11:17
Maybe because not enough people caught the dire warning the first time, moments ago Bloomberg reported that Han Jun, the deputy director of China’s office of the central leading group for financial and economic afairs, spoke at an event at the Chinese consulate in New York and practically reiterated the anonymous source's warning practically verbatim. To wit: "There won’t be a strong economic stimulus and people shouldn’t expect a V-shape recovery; instead long period of L-shape growth path is likely" said Han, who participated in the drafting of China’s latest five year plan.
S&P Gives Up "China Stability" Gains As WTI Tumbles To $31 Handle
Submitted by Tyler Durden on 01/11/2016 - 11:05
Well that escalated quickly...
