Guest Post: The Week Ahead For Equities Is Fraught With Downside Risk
Submitted by Tyler Durden on 07/06/2009 - 03:49The week following NFP weeks are generally light on economic data. Typically these economic-light weeks garner a lot of speeches from Fed officials and the like. But while Fed Presidents Evans and Duke, as well as Geithner will speak or testify, remarks from them should not be market moving events. So, you might think that a quiet week would correspond with a low volatility. That is sensible enough, but you might be wrong. Investor confidence has been shaken by the July 2 NFP report that showed job losses in June were not just much worse than expected, but also much worse than the previous month. The July 2nd jobs report effectively discredited the “green shooters” thesis that thing were getting less bad. In other words, things are suddenly less bullish or more bearish. Oops!
Is CNBC Filtering Any Reference To Zero Hedge?
Submitted by Marla Singer on 07/05/2009 - 23:24Update: Short answer- probably not.
From our tips line:
I am sure you have probably seen this before, but I found some interesting differences in the article by Matthew Goldstein as posted at http://blogs.reuters.com/commentaries/2009/07/05/a-goldman-trading-scandal/ and the article as posted on cnbc, http://www.cnbc.com/id/31750907.
Returns on major FX players are showing choppiness in FX
Submitted by Cornelius on 07/05/2009 - 21:21The returns of some big FX players are serving as an impromptu summary for the past 6 months.
Is A Case Of Quant Trading Sabotage About To Destroy Goldman Sachs?
Submitted by Tyler Durden on 07/05/2009 - 16:42Matt Goldstein over at Reuters may have just broken a story that could spell doom for if not the entire Goldman Sachs program trading group, then at least those who deal with "low latency (microseconds) event-driven market data processing, strategy, and order submissions." Visions of swirling, gray storm clouds over Goldman's SLP and hi-fi traders begin to form.
The Zero Hedge Country Decal
Submitted by Marla Singer on 07/05/2009 - 14:57
You wanted decals? Fine. Here are your decals.
H. Rodgin Cohen's (Failed?) Quest To Backstop Every Bank... Ever (And Usurp Geithner's Throne)
Submitted by Tyler Durden on 07/05/2009 - 09:11Over the past two weeks many banks issued press releases and opened up the PR spigot to indicate just how stable they all are now that a few have managed to pay down their TARP commitments. This of course, is nothing but a complete farce, and simply yet another chapter in the "consumer confidence" game played by the administration and its financial underlings. In order to see just how much the banking system depends on the continued unlimited wallet of taxpayers and Geithner's printing presses, and how much certain law firms continue to depend on the somewhat less limited wallet of Wall Street, I present an October 31, 2008 letter recently obtained by Zero Hedge, in which Sullivan & Cromwell, Wall Street's #2 favorite law firm (or is that #1: I am sure Wachtell Lipton would have a few choice words with regard to that particular league table rating, although it may be hard pressed to match S&C's $241,975 in donations to the Democratic National Convention), goes to town to make sure that its well-deserving clients including Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Merrill Lynch, Morgan Stanley, State Street and Wells Fargo get to not only have the taxpayers' cake (in perpetuity), but eat more and more of it each day.
"Would You Like To Buy Some Magazine Subscriptions?"
Submitted by Marla Singer on 07/04/2009 - 08:41After days of configuring, we've finally managed to get subscriptions working properly. If you checked your email box you already know this because you likely received 900 emails at once as all the notifications queued up over the last week were batch-sent in one massive climax of SMTP server intercourse.
Sorry about the mess.
To configure your subscriptions, go to the "My Account" menu on the left and select the "Subscriptions" tab.
Weekend Readings
Submitted by Tyler Durden on 07/04/2009 - 02:44- More on StevePerkinsGate: PVM taking a page from the oldest playbook in the world (FT)
- India joins China, Russia in questioning USD dominance (Bloomberg)
- Palin to resign as Alaska governor, will not seek reelection (WSJ) [not even worth discussing the Republican due diligence process]
- Ignoring prophetic predictors (Nader)
- Staffer at SEC had warned of Madoff (WaPo, h/t dartmont)
Who Is Selling Wholesale Vol And Why?
Submitted by Tyler Durden on 07/03/2009 - 15:36
The chart below indicates that while the market is exactly where it was in early December 2008, the VIX has droped by almost 60%.
Please Welcome RAN Squawk to the Zero Hedge Family
Submitted by Marla Singer on 07/03/2009 - 07:28We are very pleased to offer Zero Hedge readers access to the RAN Squawk news feed. RAN Squawk delivers real-time voice and text based feeds targeted to the needs of traders, brokers and financial professionals.
Taibbi Goes On The Air
Submitted by Tyler Durden on 07/02/2009 - 16:54
Taibbi in his first TV interview since the "Squid" was let loose. Hat tip Calgary Schmooze
FDIC TGI Failure F... er... T
Submitted by Tyler Durden on 07/02/2009 - 15:42Failure Friday is early today: the first bank shooting green all the way to the grave is John Warner Bank, from Clinton, IL. Likely more to come today.
NYSE Extends Closing To 4:15 PM, Cites "System Irregularities"
Submitted by Tyler Durden on 07/02/2009 - 14:59
Tsk Tsk. Those pesky SPARCs. Anyone remember March 2007? In other news, Sky Net will be nominating a robo-president for 2012 shortly.
ECB poised for some mid to late year QE?
Submitted by Cornelius on 07/02/2009 - 14:28Shockingly, the 1% line hasn't been enough to get credit flowing in Euroland - interesting times in Euro long rates coming up.
