Archive - Dec 19, 2015 - Story
Market Shudders As Brazil Risks "Succumbing To Fiscal Populism" With New FinMin
Submitted by Tyler Durden on 12/19/2015 13:15 -0500Brazil has a new finance minister and the market is not happy. As BofAML puts it, "the focus turns now to the direction of the fiscal policy under the new FinMin, which should affect the recovery in confidence and thus growth. With mounting downside risks to growth that heavily weigh on the government’s revenues and the ongoing challenges in passing fiscal measures in Congress, tangible results over statements will now be needed to improve expectations over primary fiscal results ahead."
On "Average", Stocks Are Testing The Post-2009 Uptrend
Submitted by Tyler Durden on 12/19/2015 12:40 -0500If this trendline fails to hold (like it did for the VLG in August), then the market may be in for a further decline. And considering the magnitude of the trendline being broken, it may not be just your “average” decline.
Repo Experts Stumped: How Could Fed Hike Without Draining ANY Liquidity: "This Is A Market By Decree"
Submitted by Tyler Durden on 12/19/2015 12:04 -0500"The Fed didn't really drain any liquidity yesterday. They moved the IOER up to .50%, moved the RRP rate up to .25%, and the RRP volume came in at $105 billion, only $3 billion more than the day before. Where was the draining? But interest rates moved up anyway to reflect the tightening, without any fundamental change. Basically, the Fed decreed a rate tightening and the market moved rates higher.... I wonder how many economic interest rate models include "by decree" as a factor?"
US "Accidentally" Blows Up 10 Iraqi Troops In First "Friendly Fire" Accident Of ISIS Fight
Submitted by Tyler Durden on 12/19/2015 11:06 -0500"I hope Iraqis will understand that this is a reflection of things that happen in combat. But it's also a reflection of how closely we are working with the government."
American Tourism In The Age Of Terrorism: A Surprising Finding
Submitted by Tyler Durden on 12/19/2015 10:17 -0500One could be forgiven to hypothesize that there would be some negative response in the travel to the Middle East. Instead as shown below, this regional hotbed continues to see a stunning record growth in passenger traffic from America. And this unusual growth stands out as the highest of any destination.
Turkey Blasts "Breakthrough" UN Resolution On Syria: "It Lacks Perspective. Assad Must Go!"
Submitted by Tyler Durden on 12/19/2015 09:15 -0500In the wake of a Security Council resolution on Syria that failed to consider the fate of Bashar al-Assad, a belligerent Turkey is fuming mad. In comments made from Istanbul on Saturday, PM Ahmet Davutoglu said the UN's stance "lacks realistic perspective." He also said Turkish troops will remain in Iraq until Mosul is "freed" from ISIS. Translation: Turkish boots will be on Iraqi ground for the foreseeable future.
