The Empty Suit's Seat
Submitted by Tyler Durden on 01/14/2016 - 15:30
President Obama's "Empty Seat" appears to have raised the ire of many...
The Machines Are Going Mad - HFT Quote-Stuffing Desperation Spikes To Record High
Submitted by Tyler Durden on 01/14/2016 - 14:50
It appears - for now - that the machines are losing control. Amid the chaos of the last few days in US equities, Johnny 5 and his ilk have been quote-stuffing in desperation at the highest rate in history... but it's not working!!
Complacent Correction Cause For Concern?
Submitted by Tyler Durden on 01/14/2016 - 14:30
Despite recent stock market carnage, the reaction by the VIX has been a relative yawner. All we really care about are the cold, hard numbers. And if history is any guide, investors, who have demonstrated a rather complacent reaction to the decline so far, may very well get a wake up call before this slump has run its course.
Creditors Accuse Portugal Of "Unfair, Populist Short-Cut" In €2 Billion Bank Bail-In
Submitted by Tyler Durden on 01/14/2016 - 14:16
"The new Portuguese administration is not the first government to resort to asset confiscation and populist expediency. Venezuela and Argentina also belong to this club. The important distinction is that Portugal is a eurozone member state, and its systemically important banks are regulated by the ECB."
Emails Prove Hillary Knew Libyan Rebels Were Conducting Ethnic Cleansing, Supported Them Anyway
Submitted by Tyler Durden on 01/14/2016 - 14:12
The tragic irony of all this is that Hillary Clinton led the charge for a war in Libya based on a claim of a potential massacre in Benghazi. The massacre in Benghazi never occurred (and was likely overblown), but real ethnic cleansing and massacres did occur when the US and NATO empowered the Libyan rebels to overthrow Gaddafi and use their weapons beyond the war zone. Today, Libya is a failed state infested with the Islamic State and other Islamic terrorist groups thanks to Clinton and friends. Quite a liberation.
Trapped Inside The Zero-Bound: Crossing The Economic "Event Horizon"
Submitted by Tyler Durden on 01/14/2016 - 14:00
Presenting Turkey's "Vicious" Depreciating Currency Cycle
Submitted by Tyler Durden on 01/14/2016 - 13:35
With Erdogan calling (loudly) for lower rates and 5 of 7 MPC seats opening up between April and November, some fear Turkey may eschew policy normalization leading directly to what Morgan Stanley calls "a vicious cycle" of a depreciating currency, rising inflation, and lower real policy rates.
"The Job Gains Have Gone To The Least Educated, And Lowest-Paid, Workers"
Submitted by Tyler Durden on 01/14/2016 - 13:24
Since 2011, when the E/P ratio for those with less than a high school diploma bottomed, that metric has regained almost two-thirds of its recessionary losses (orange line in chart). But the E/P ratio for high school or college graduates – i.e., eight out of nine American adults – has not recovered any of its recessionary losses, and has barely budged in four years (purple line). This data underscores how the jobs recovery has been spearheaded by cheap labor, with job gains going disproportionately to the least educated — and lowest-paid — workers.
JPM Warns "Sustained Closes Here Would Not Be Welcome" - What The Charts Say
Submitted by Tyler Durden on 01/14/2016 - 13:15
JPMorgan's 2016 Outlook for the S&P 500 Index favored a continuation of a broad and volatile range into the first half of the year, below 2,100 and above 1,820-1,870 longer-term range support. While the unexpected early-January weakness has not violated the Oct 2014 and Aug 2015 lows and other support parameters near that area, the nature of the current decline raises some concern for what has been a constructive longer-term view.
Poor 30 Year Auction Concludes Weekly Issuance With Sliding Bid To Cover, Weak Indirects
Submitted by Tyler Durden on 01/14/2016 - 13:12
Yesterday's 10 Year auction was, despite the concurrent pricing of the world's biggest bond deal in the face of AB InBev's $45 billion issue, a blockbuster, with demand off the charts in every possible way. However, today's just concluded sale of $13 billion in 30 Year paper left quite bit to be desired.
So You Want To Be A Citadel Trader: Here Are The Requirements
Submitted by Tyler Durden on 01/14/2016 - 12:43- Advanced training in Computer Science, Computer Engineering, or other related fields
- Extensive programming experience with strong object oriented design skills and fluency in C, C++, or Java
- Expertise with algorithms and data structures
- Demonstrated ability to communicate complex ideas in a clear, concise fashion
- Ability to thrive in a complex, fast-paced, and highly technical environment
Is Europe Choosing To Self-Destruct?
Submitted by Tyler Durden on 01/14/2016 - 12:32
Europe has voluntarily begun the process of giving up its liberal and hard-fought-for freedoms. Free speech no longer exists, only -- straight out of totalitarian ideologies -- "responsible" free speech: "free" only if it does not "offend" anyone. The desire of many Europeans and other self-declared devotees of "human rights" to cover up, downplay or explain away what is happening in Europe, in fact represents the opposite of respect for others and equality before the law.
Norway's Black Gold Fields Are A Sea Of Red - A Real-Time Map Of Crude Carnage
Submitted by Tyler Durden on 01/14/2016 - 12:16
Norway is in trouble. As we have detailed previously (here, here, here, and here), the world's largest sovereign wealth fund has begun liquidating assets (after its largest quarterly loss) as the nation faces recessionary fears (key data deterioration as oil stays lower for longer) with expectations building (despite denials by the central bank) that ZIRP (or even NIRP) is coming. Why? Simple - as the following real-time map shows - every one of Norway's oil fields are currently underwater!
If This Was 2016's "Bullard Sticksave" Moment, This Is What Stocks Will Do Next
Submitted by Tyler Durden on 01/14/2016 - 12:13
Was today, the 2016 equivalent of Bullard's infamous October 2014 "QE4" market sticksave? We don't know, but we do know that there is an uncanny resemblance between the market's action before Bullard's October 2014 "QE4" comment... and the market over the past few weeks. But the real question is what happens next, and if October 2014 is any indication then we are in for a massive "rip your face off" rally.
