Archive - May 19, 2015
State Department To Release Hillary Emails... In January 2016!
Submitted by Tyler Durden on 05/19/2015 11:40 -0500The good news: A federal judge on Tuesday ordered the U.S. State Department to produce a schedule for the release of emails that Hillary Clinton sent and received while she was secretary of state, a legal move that could complicate her presidential campaign.
The other news: The State Department is proposing a deadline of January 2016 to complete its review...
You just can't make this up!
What can we expect from the FOMC minutes?
Submitted by dazzak on 05/19/2015 11:35 -0500What to expect from the FOMC minutes...do they even have any idea themselves?
What The Fed's Computer Model Predicts About The Future Of The US Economy
Submitted by Tyler Durden on 05/19/2015 11:13 -0500It could go up, or it could go down.
Gold Ticks Higher In GBP – Property Crash Looms In London?
Submitted by GoldCore on 05/19/2015 10:51 -0500London high end property prices fall 6.3% in May, prices now 7.4% lower that this time last year. Average house prices in London dwarf those of the rest of the country. London prices average £581,074 - more than 15 times the median salary - whereas the national average is £285,891.
Each Day Without Debt Deal Costs Greek Economy €22 Million And 613 Full-Time Jobs
Submitted by Tyler Durden on 05/19/2015 10:50 -0500It’s no secret that the protracted negotiations between Athens and its creditors are taking a toll on the Greek economy in general, on the Greek banking sector more specifically, and on Greek citizens most tragically. Now, thanks to a new report from the Hellenic Confederation of Commerce and Enterprises, we can quantify the daily economic toll of failed negotiations.
Spot The Housing Starts Outlier
Submitted by Tyler Durden on 05/19/2015 10:42 -0500Earlier today, housing starts shocked to the upside when they printed at 1.135MM, smashing estimates of 1.015MM, and representing the single biggest monthly jump since 1991. The entire surge was due to one single number.
WTF Chart of The Day: China Suspends Chinese Lottery Firm, CEO Resigns; Stock Rallies 25%
Submitted by Tyler Durden on 05/19/2015 10:23 -0500Filed under WTF - 500.com Limited (WBAI) - the Chinese online sports lottery firm - announced today that the Chinese Ministry of Finance and Ministry of Civil Affairs, demands they temporarily suspend accepting online purchase orders for lottery products. This means 500.com is not cuirrently generating any revenue at all. The CEO and another Director of the firm resigned. The result... a 25% surge in the stock price!!!
Over 200,000 Greeks Apply For Humanitarian Crisis Relief
Submitted by Tyler Durden on 05/19/2015 09:36 -0500UPDATE: Greek Default Would Mean Poverty Trap, Dijsselbloem Tells VN
The Humanitarian Crisis Relief program was one of the top priorities of the SYRIZA-Independent Greeks coalition government and it was pushed forwards despite the Troika-Institutions objections. After the EU leaders Summit end of March, EU Commission President Jean Claude Juncker had announced to release 2 billion euro to tackle the Greek humanitarian crisis. While it is not clear if Juncker sent the money or not, As KeepTalkingGreece reports, 212,897 Greeks have so far submitted requests to be part of the Humanitarian Crisis Relief Program. 1st world or 3rd world?
Commodity Carnage
Submitted by Tyler Durden on 05/19/2015 09:36 -0500The surge in the USDollar and "good" housing data has created carnage in commodities. Silver, crude, copper, and gold are all getting hammered this morning as the S&P is unchanged as moar Q€ was trumped by hawkish "good" data...
The European Central Planning Bank Unhappy With Analysts' Euro Forecasts
Submitted by Tyler Durden on 05/19/2015 09:32 -0500Things are getting more surreal by the moment. First the ECB leaks material, market moving information to hedge funds 12 hours before disclosing it to the entire world, and now the central bank that has taken central planning to the next level, is revealing its displeasure with how the quote unquote "market" has responded to the Euro. Via BBG:
- PRAET: SOME ANALYST FORECASTS ON THE EURO'S DEPRECIATION HAD GONE BEYOND WHAT ECB EXPECTED: WSJ
Oddly no comment if the ECB's stealthy selling of Bunds to open up capacity for 15 more months of purchases also moved the massively illqiuid market too far in the opposite direction.
ECB Blames Leak To Hedge Funds On "Internal Procedural Error"
Submitted by Tyler Durden on 05/19/2015 09:02 -0500Shortly after 6pm London time yesterday, The ECB's Benoit Coeure told a non-public audience of hedge funds in London that "the central bank would moderately front-load its purchases in its quantitative easing program because of the seasonal lack of market liquidity in the summer." The reaction was a 50 pips drop in EURUSD... but this was inside information was not released to the trading public until around 8am London time - and resulted in a 150 pip plunge. In other words, a select private group of head funds in London were leaked ECB front-loading news 14 hours before The ECB deemed it 'correct' to publicly release the comments... due to what The ECB calls "an internal procedure error."
This Is Central Planning: A "World Of Activist Central Banks" Who "Manage Price Levels In Markets"
Submitted by Tyler Durden on 05/19/2015 08:44 -0500The bad news is that we are investing in a world where Graham and Dodd’s “Security Analysis” has become a quaint relic of simpler times, when the nuts and bolts of a company’s fundamental were meant to motivate how analysts viewed its prospects. Now we have QE and buybacks.
"Good" Housing News Spark Stock/Bond Selling, USD Surge
Submitted by Tyler Durden on 05/19/2015 08:01 -0500It appears 'great' housing data is bad news for stocks. In what can only be seen as the rate-hikes-are-coming trade, as soon as the starts and permits data hit, the USDollar rally accelerated, bond yields spiked, and stocks tumbled... why oh why can't we get some more poor data...
