The SoCal Wildfires Are Now Larger Than New York City And Boston Combined

It’s been nearly a week since the first stirrings of the wildfires ripping across Southern California sprang to life, and firefighters are still struggling to contain the blazes. The two largest and most destructive fires are growing despite firefighters’ best efforts at containment as the powerful Santa Ana winds – which are picking back up after another brief lull - fan the flames.

Treasurys Sell Off After Ugly, Tailing 10Y Auction Despite Record Specialness In Repo

If the 3Y TSY auction which priced earlier was stellar, outperforming historical averages on every metric, then the just concluded 9-year, 11-month reopening of CUSIP 3F5 was mediocre at best, but more surprisingly, was the first 10Y auction to tail at a time when short interests - according to the repo market - was literally off the charts.

SocGen Thinks Emerging Markets Are Breaking Down: Here's Why

As SocGen notes on Monday, much of the recent EM weakness has stemmed from a sell-off in companies with the poorest balance sheets. These typically lower quality stocks had been performing strongly for most of this year, having at one stage been up by 30%, ytd but have now fallen 8% in a month.

The "Exit" Problem

"The collective wisdom of market participants is generally 'right' during the middle of a market advance but 'wrong' at market peaks and troughs..."

Stellar 3Y Auction: Highest Bid To Cover Since Sept 2015, Foreign Demand Surges

Unlike last month's ugly 3Y auction, today's just concluded sale of $24 billion in 3 year paper was stellar, stopping through the When Issued 1.934% by 0.2bps, a surge in buyside demand as the Bid to Cover jumped from 2.76 to 3.15, the highest since September 2015, while Indirect Bidders took down the most since August.

CNN And WaPo Working On 20-40 Sexual Misconduct Stories

CNN and WaPo are working on exposing "20-30 congressional members" for sexual harassment, claims Michael Trujillo, former LA City Commissioner and Hillary Clinton's California Field Director during her 2008 bid for the White House.

The Biggest Bubble Ever, In Three Charts

It’s always shocking to see the numbers we’re dealing with, but even more so lately as history’s biggest financial bubble starts to dwarf its predecessors.

Frontrunning: December 11

  • Hotly anticipated bitcoin futures ease off after 22 percent surge (Reuters)
  • Bitcoin Futures Debut With 26% Rally, Trigger Cboe Trading Halts (BBG)
  • Powell faces early test of policy view as tax cuts near approval (Reuters)
  • Small Investors Face Higher Taxes Under Senate Proposal (WSJ)
  • US, Japan and South Korea host joint missile tracking drills (DW)