Archive

April 22nd, 2015

Tyler Durden's picture

Crude Inventories Rise For Record 15th Straight Week, Production Drops





DOE Inventory data confirmed API data overnight with a 5.3mm bbl build (notably better than expectations of 3.2mm and significantly higher than last week's 1.29mm build). Cushing saw a build that was the 2nd lowest since November 2014 (even though at +738k the build was well above expectations of +550k). Crude prices appear to jumping higher on the fact that production was a 2nd consecutive production cut (albeit very modest) even though we have seen such short-term drops before (and it was only Alaska that saw a drop -3.4% - lower 48 was flat 0.0%).

 

Tyler Durden's picture

Stocks, Bonds Dumped On Housing Good News Is Bad News





Great news... housing is back? so sell stocks and bonds...

 

Tyler Durden's picture

But The Weather? March Existing Home Sales Surge To Highest Since September 2013





After failing to comfortably beat expectations for the last 7 months, March Existing Home Sales surged 6.1% to a 5.19mm SAAR - the highest since Sept 2013. Despite collapsing macro data throughout March all blamed on 'the weather' The Midwest saw existing home sales rise the most (by 10.1%). All this 'pent-up demand' has crushed affordability as home prices are up 7.8% YoY - the largest gain since Feb 2014.

 

Tyler Durden's picture

Wedges And Triangles: Big Move Ahead?





The central bank high is euphoric, the crash and burn equally epic. Be careful what monkey you invite to latch onto your back...

 

Tyler Durden's picture

Turkish Student Sentenced To Prison For Retweeting Satirical Article





With Turkish enforcement now granted a green light to detain anyone, for any reason, the next inevitable crackdown was only a matter of time - that on free speech. Overnight we got a vivid example of just that when a university student in southern Turkey has been handed a one-year suspended sentence for retweeting a satirical article about a governor from Zaytung, a mock news portal in Turkey, daily Cumhuriyet has reported.

 

GoldCore's picture

China’s Stealth Gold Reserves To Quadruple as IMF Seek Answers





The People’s Bank of China may have tripled holdings of bullion since it last updated them in April 2009, to 3,510 metric tons. It is worth noting that the U.S. refuses to allow their gold reserves to be publicly audited and the Bundesbank is having difficulty repatriating much of its gold stored with the Federal Reserve. This has led many analysts to speculate that the U.S.’s gold reserves have been leased out or sold or are encumbered as part of an ongoing effort to manipulate gold prices.

 

Reggie Middleton's picture

The Unbundling of a Money Center Bank





Death by a thousand cuts now has a venture capital version. Observe as I walk through FinTech startups literally disassemblet the almighty money center bank.

 

Tyler Durden's picture

Here's Why Stocks Are Surging Pre-Open





Fun-durr-mentals...

 

Tyler Durden's picture

McDonalds Reports Disturbing Numbers, Misses Across The Board; Stock Jumps





Moments ago McDonalds reported its latest sales numbers which were basically atrocious, worse than usual, and missed across the board. At this point the operational challenges facing the company are clearly unfixable in its current iteration which is broken beyond merely a CEO switch, and not even a "buy 1 Big Mac, get 3 Big Macs (and Joseph A Banc suits) free" strategy will fix the ailing fastfood maker, whose secular collapse is best captured by the charts below. So what does the stock do? It jumps.

 

Tyler Durden's picture

The Swiss Franc Is Plunging After SNB Comments





Following comments from the Swiss National Bank, reducing the group of sight deposit account holders that are exempt from negative interest rates, has sent Swissy tumbling...

 

Tyler Durden's picture

EU Formally (And Spitefully) Files Anti-Trust Charges Against Gazprom





With talks between Greece and its creditors expected to go mostly nowhere in Riga later this week, and with speculation about an energy deal between Athens and Moscow (i.e. the precursor to the dreaded "Russian pivot") looking less like speculation and more like reality with each passing day, Europe is going the spite route by filing anti-trust charges against Gazprom.

 

Tyler Durden's picture

UK "Flash Crasher" Refuses To Be Broken Market Scapegoat, Will Fight Extradition Request Facing Decades In Prison





While we eagerly await for the SEC to retract its official 104 page report summarizing the "Findings regarding the market events  of May 6, 2010" in light of "recent developments", and as we follow the shift in the official narrative to the outright bizarre, in which the entire Flash Crash is now blamed on just one man (as opposed to just Waddell & Reed as per the previous narrative), we learn that the latest scapegoat for a broken, fragmented and manipulated market, Navinder Sarao, is not quite so eager to go to minimum security prison in the US for doing what leads to a slap on the wrist when someone like Citadel or Virtu does it, and will challenge the CFTC's attempt to pin everything on him.

 

williambanzai7's picture

MeeT BuNK, THe NSA'S EaRTHDaY MaSCoT...





Show me ur data...

 

Tyler Durden's picture

Frontrunning: April 22





  • Because it just gets funnier: UK speed trader arrested over role in 2010 'flash crash' (Reuters)
  • ... and funnier: Mystery Trader Armed With Algorithms Rewrites Flash Crash Story (BBG)
  • Presidential hopeful Rubio reaches out to gay Republicans (Reuters)
  • Varoufakis Sees Differences Narrowing in Creditor Talks (BBG)
  • China Debt Mess Brings Out the Yin and Yang in Policy Makers (BBG)
  • Hedge Fund That Made 18% on Dollar Strength Now Bets on Drop (BBG)
  • Whistleblower Jim Marchese Scores Millions in Payout—Again (WSJ)
  • Release of Benghazi Report on Hillary Clinton Likely Pushed to Election Season (BBG)
 

Tyler Durden's picture

Asian Euphoria Sends Nikkei Above 20,000, Fizzles In Europe On More Greek Fears; US Futures Down





Whether it is in sympathy with the now relentless surge in the Shanghai Composite which tacked on another 2.44% overnight to close at a fresh multi-year high just shy of 4400, well more than double from a year ago, or because Mrs Watanabe was unable to read the latest Japan trade data whose first trade surplus in 3 years hinted that there will be no new easing by the BOJ any time soon, but overnight the Nikkei closed above 20,000 for the first time in 15 years, with "makers of chocolate, mayonnaise, potato chips and household appliances" helping lift the Tokyo market according to the WSJ. The now daily Asian euphoria however did not last long in the European session, and after opening higher, the Stoxx Europe 600 slipped into negative territory just an hour into trading, and was down 0.4% by midmorning, lead by a near 1% decline on Athens' mains stock index, which has since recouped losses stemming from the overnight report that the ECB is considering an up to 50% haircut on Greek bank collateral, a move that would wipe out the Greek financial sector with ease.

 
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