• EconMatters
    11/30/2015 - 16:21
    The ISIS group sells most of its crude directly to independent traders at the wellhead for $20-$45 a barrel earning the group an average of $1.5 million a day.


Tyler Durden's picture

Here Is The Biggest, And Most Underreported, Risk Facing China

We wonder: just how much "more exponential" will China's "strike chart" have to get before everyone else finally notices?

Tyler Durden's picture

Larry Summers' "Make-Believe World"

Evolution happens without goals... without conscious thought. It is a trip without a destination. It is also the way economies work; they do not respond well to manipulation by self-important meddlers. But if you are speaking for the entire planet, you have already gone way beyond the theory of evolution. You are in a world without theory… without science… without experience or history. You are in a world of make-believe – where pundits pretend to know what they are talking about and newspapers fill space with mythical claptrap.

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Rolls Royce Plunges On Bombshell Profit Warning, Dividend Review; Faces "Near Death Experience"

Rolls Royce just delivered a shocker of a profit warning as new CEO Warren East said the company will take a $990 million hit in 2016 attributable to "sharply lower" sales in the corporate jet space. The shares fell as much as 22% and CDS blew out to three-year wides. 

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Euro Crushed By Draghi's Latest "Whatever It Takes" Moment; Fed Speaker Barrage On Deck

The biggest event overnight came from Europe, where Draghi managed to once again jawbone the Euro lower by ober 50 pips when he told European lawmakers in a prepared testimony that downside economic risks are "clearly visible," repeating his October press conference statement, adding that the ECB will reexamine degree of accommodation in December as "inflation dynamics have somewhat weakened." And the statement that crushed the Euro: "If we were to conclude that our medium-term price stability objective is at risk, we would act by using all the instruments available within our mandate to ensure that an appropriate degree of monetary accommodation is maintained." I.e., another "whatever it takes" moment.

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Aussie Bonds Crushed After "Everything Is Awesome" Best October Job Gains Since 2007

China must be fixed because 'seasonally-adjusted' Aussie full-time employment just surged 58,600 MoM (almost quadruple expectations of a 15k rise). This is the best monthly gain in jobs since September 2012 and best October since 2007 - which all makes perfect sense. The resultant bloodbath in Aussie bonds (3Y +13bps to 6 month highs is worst day since Jan 2014) is all too real however. The question is - will this "good news" be jawboned down by RBA in order to give them some easing room?

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"No QE For You!": ECB May Cut "Lifeline" To Portugal After Socialists Overthrow Government

In what sounds like the plot of a McCarthy-era propaganda spy novel, the Socialists and Communists have overthrown the government in Portugal. That means it's time for the troika to start pushing back against the undesirables by threatening the country with financial ruin. Just call it "tough love." 

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On The Verge Of The Great Unraveling, Looking Back From 2050

Empires, like adolescents, think they’ll live forever. In geopolitics, as in biology, expiration dates are never visible. When death comes, it’s always a shock. "At the beginning of the great unraveling, in 2015, I was still a young man. Like everyone else, I didn’t see this coming. Today, in 2050, fewer and fewer people can recall what it was like to live among those leviathans... Thirty-five years and endless catastrophes later on a poorer, bleaker, less hospitable planet, it’s clear that we just weren’t paying sufficient attention. Had we been listening, we would have heard the termites. There, in the basement of our common home, they were eating the very foundations out from under us. Suddenly, before we knew quite what was happening, all that was solid had melted into air."

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The Rise Of Trump & Sanders - Distrust & Anger Ripples Across America

This may sound like one of those generation gap stories, where older folks complain about the “kids” doing their own thing and the kids not trusting “anyone over 30.” It’s not. From sea to shining sea, distrust and anger ripples across America. Older age groups like to criticize millennials: they’re spoiled, have a sense of entitlement. Actually, they should look in the mirror, as they’re leaving those who will follow one hell of a mess.

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A Rare Do-Over For Equity Investors?

While the market may still rally to new highs, the late August free fall in stock prices and spike in volatility served as a wake-up call for investors. In the past ten weeks, major equity indices have recovered virtually all those losses, giving investors an unusual second opportunity to position their portfolio for an important inflection point in monetary policy as the Fed likely starts raising interest rates. Simply put, investors who were not properly positioned and frustrated by their performance in the late August swoon are being given a do-over.

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Global Stocks Fall For 5th Day On Disturbing Chinese Inflation Data; Renewed Rate Hike Fears; Copper At 6 Year Low

The ongoing failure of China to achieve any stabilization in its economy, after already cutting interest rates six times in the past year, and the prospect of a U.S. interest rate hike in December, had made markets increasingly jittery and worried which is not only why the S&P 500 Index had its biggest drop in a month, but thanks to the soaring dollar emerging market stocks are falling for a fourth day - led by China - bringing their decline in that period to almost 4 percent, and the global stock index down for a 5th consecutive day.

Secular Investor's picture

Why A Rate Hike Might Result In A 'Double Whammy' For Mainstream Investors

The potential outcomes are looking increasingly worrisome for financial markets across the board...

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Why Are Primary Dealers Are Liquidating Corporate Bonds At An Unprecedented Pace

As of the week ended October 28, Primary Dealer corporate holdings tumbled across both IG and HY, plunging to the lowest level in years in what can only be called a rapid liquidation of duration risk.

globalintelhub's picture

Play The Forex Fix - JPY And CHF Pairs Range Bound

Don't forget Forex is countertrend market (generally) - here's a strategy to play the Forex 'fix' 

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Medicaid Chief Demands "Affordable Prices" From Major Drug Suppliers

In the next phase of the Obama administration's other war on drugs, The Centers for Medicare & Medicaid Services (CMS) has issued a letter to the CEOs of four large drug providers (AbbVie, Gilead, Johnson & Johnson, and Merck), warning that "manufacturers have a role to play in ensuring access and affordability to these medications," asking for "value-based purchasing arrangements." While there is no "or else" in the letter, the focus on 'significance to many', 'costs', and 'accessible' suggest an overhang of government intervention as new specialty drugs account for nearly a third of overall costs, but represent less than 1% of prescriptions.

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