Shanghai Composite Opens Under 3,000 As Onshore Yuan Practically Unchanged For Fourth Day
Submitted by Tyler Durden on 01/14/2016 - 20:45
Having made its warning to the Fed loud and clear ("if you hike or otherwise push the USD any higher, we will crush your markets by devaluing the Yuan against everyone but mostly the USD"), the PBOC continued the fragile ceasefure between the world's two most powerful central banks, when moments ago it kept the onshore Yuan virtually unchaged, by weakening today's fixing by 0.03% to 6.5637. However, as can be seen on the chart below, this has barely even registered.
"Willing Idiots" & Geopolitical Instability
Submitted by Tyler Durden on 01/14/2016 - 20:00
Periods of transition between “rising powers” and “declining powers” have been described in terms of the so-called Thucydides Trap, when fear within a static or declining power (historically, Athens) of a rising power (historically, Sparta) makes war seemingly inevitable. The phenomenon today applies not only to the China-U.S. dynamic - as has been widely remarked - but to the Middle Eastern imbalance, the “north-south” imbalance, and so on. Accompanying this sliding vertical scale of strategic power balance is the sliding horizontal scale of population volatility and movement, characterized by the breakdown of the Westphalian nation-state concept.
"Markets Crash When They're Oversold"
Submitted by Tyler Durden on 01/14/2016 - 19:00
When markets begin a "bear" cycle, they can remain in an oversold condition for extended periods. There is an important 'truism' to remember - "Markets crash when they’re oversold."
The "World's Most Bearish Hedge Fund" Crushed It In 2015
Submitted by Tyler Durden on 01/14/2016 - 18:31
"Your fund made 5.6% net last month, to finish the year up 20.45% net. Gains came from the short book.... Your fund remains long bonds, short equities."
The 'Real' Price Of Oil Is Below $17
Submitted by Tyler Durden on 01/14/2016 - 18:00
"You see a big destruction in the income of the oil and commodity producers," exclaims on analyst but, as Bloomberg notes, while oil prices flashing across traders' terminals are at the lowest in a decade, in real terms the collapse is considerably deeper. Adjusted for inflation, WTI is its lowest since 2002 and worse still Saudi Light Crude is trading at below $17 (in 1998 dollar terms) - the lowest since the 1980s...
"It's All The Fed's Fault" Santelli Rages, They "Will Certainly Turn Us Into Japan"
Submitted by Tyler Durden on 01/14/2016 - 17:50
Santelli rages "the notion that a small group of people should control the price of money should be under review," adding that "if stocks are rallying because The Fed is retreating, we certainly will turn into Japan."
Could China's Housing Bubble Bring Down The Global Economy?
Submitted by Tyler Durden on 01/14/2016 - 17:30
Following a comprehensive review of China's housing market, we now realize it's much worse than the consensus understands.
Bullard Bounce 2.0 - Stocks Surge By Most Since September; Bonds, Dollar Flat
Submitted by Tyler Durden on 01/14/2016 - 16:47
The US Government Has An Internet Killswitch - And It's None Of Your Business
Submitted by Tyler Durden on 01/14/2016 - 16:30
On Monday the Supreme Court declined to hear a petition from the Electronic Privacy Information Center (EPIC) that sought to force the Department of Homeland Security to release details of a secret “killswitch” protocol to shut down cellphone and internet service during emergencies.
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
