It has not been a good year for retail currency broker FXCM which in January faced massive losses in the aftermath of the shocking Swiss Franc revaluation. In fact, only a $300 million bailout from Jefferies/Leucadia allowed the currency trader to meet regulatory requirements and continue operations. Then, this morning, FXCM clients woke up with even more headaches when the currency broker admitted it had been hacked, leading to a "small number" of unauthorized wire transfers from customers’ accounts.
Does Not Compute: DOL Continues To Paint Rosy Jobless Claims Picture As Challenger Sees "Surge" In UnemploymentSubmitted by Tyler Durden on 10/01/2015 - 08:43
Does not compute. That may be the best way to summarize the discrepancy between the statistically-massaged, seasonally-adjusted initial claims data reported by the DOL, and what Challenger reported just an hour earlier when it said that U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month. Worse, for 2015 YTD, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. Someone is lying.
BOJ IS SAID TO SEE LITTLE IMMEDIATE NEED FOR ADDING STIMULUS
BOJ OFFICIALS ARE SAID TO WANT CHANCE TO SEE MORE DATA
- After Rough Quarter, Investors Buckle Up (WSJ)
- From heroes to bystanders? Central banks' growth challenge (Reuters)
- Russian Airstrike in Syria Targeted CIA-Backed Rebels, U.S. Officials Say (WSJ)
- Kremlin says Syria air strikes target list of groups, not just Islamic State (Reuters)
- That’s information warfare? Russia accused of killing civilians in Syria (RT)
- Euro zone factory growth eases in August despite modest price rises (Reuters)
- How Glencore's Crazy Month Makes Greek Banks Look Tame (BBG)
"Please remember, these people are our neighbors and friends. You have a skill that will be very much in need when this goes down. You are experts in the job market and you know what it takes to get hired. This is a time for us to step up and do what we can to help."
Good news! Bad news is again great for stocks, and overnight we had just the right amount of bad news from Japan, China and Europe to send stocks surging on the first day of the final quarter.
Is it ever legal to shoot cops? A growing number of states are passing laws that say that yes, in fact, sometimes it is well within a citizen’s rights to shoot a police officer.
While the official "data" was bad, and confirmed the economy remains in contraction, the Caixin - aka the new HSBC - Markit PMIs were absolutely atrocious. We bring you... the HSBC Manufacturing print, which dropped from 47.3 to 47.2, and which according to Caixin was the lowest print since March 2009. And it was the combination of this and the non-mfg PMI that told the full tale: at 48.0, the Caixin Composite index dropped from 48.8, down from 52.3 a year ago and was the lowest print on record.
Believe it or not, American soldiers fighting against ISIS in Syria and Iraq will actually be wearing the emblem of ISIS – the infamous crossed-swords logo. Well, almost. Controversy has stirred because many think the patch looks too much like our boys are fighting for the enemy… just another sign of confusion about the counterproductive Obama-led war against the notorious and shamefully exploitative jihadist army.
Now, the only thing left to do is either stand down and let Moscow do as it pleases in support of the Assad regime, or else get on board and acquiesce to the inevitable...
Now that the yuan deval debacle has served to accelerate capital outflows, Beijing is set to double down on efforts to curb the degree to which capital controls are openly subverted and as WSJ reports, China is has now “put a new annual cap on overseas cash withdrawals using UnionPay.”