Australia

Tyler Durden's picture

Here Is What The Slide In Gold Is Being Blamed On (Hint: Weather)





When the US economy underperforms expectations, the weather is blamed; and now, on the heels of Japan's pre-emptive blaming of weather for crushed consumer spending patterns; The FT proclaims that El Nino is responsible for the weakness in gold (as monsoon season will reduce physical demand from India)... welcome to mainstream media meteoronomics 101. What is odd about this reasoning is that we are actually more prone to a La Nina than an El Nino pattern this year based on the Southern Oscillator Index.

 
Phoenix Capital Research's picture

The Epic Failure of Keynesianism in Japan





The Keynesians have failed. Japan has proved it. It’s only a matter of time before the rest of the world… and the markets catch on.

 
 
Tyler Durden's picture

Buying Of Bonds And Stocks Continues In Event-Free Overnight Session





The complete implosion in volume and vol, not to mention bond yields continues, and appears to have spilled over into events newsflow where overnight virtually nothing happened, or at least such is the algos' complete disregard for any real time headlines that as bond yields dropped to fresh record lows in many countries and the US 10Y sliding to a 2.3% handle, confused US equity futures have recouped almost all their losses from yesterday despite a USDJPY carry trade which has once again dropped to the 101.5 level, and are set for new record highs. Perhaps they are just waiting for today's downward revision in Q1 GDP to a negative print before blasting off on their way to Jeremy Grantham's 2,200 bubble peak after which Bernanke's Frankenstein market will finally, mercifully die.

 
GoldCore's picture

China Launching “Global Gold Exchange” In Shanghai





With China's push for an international physical exchange, physical demand will begin to have a stronger influence, thereby ending gold manipulation. This will allow gold to rise to a more appropriate price given the scale of macroeconomic, systemic, geo-political and monetary risks of today.

 
Tyler Durden's picture

Kyle Bass On China's "Contraction" And "The Fed's Worst Nightmare"





With the Fed tapering and both China “I don't think the markets are discounting what’s really happening in China,” and Japan’s currencies likely to weaken, the net impact on the U.S. will be deflationary, Kyle Bass warned in a recent presentation. That trend will be accelerated by the improvement in the balance of trade for the U.S., which had its current account deficit shrink due to increased hydrocarbon production. Bass warns, the crucial moment will come when the U.S. reports a sub-6% unemployment rate, meeting the target it has set for normalizing its monetary policy by ending QE and raising rates. He predicted that will come in July. That will be the Fed’s “worst nightmare,” he said. Raising rates would stifle growth and recreate unemployment problems, which would be disastrous politically, according to Bass.

 
Tyler Durden's picture

JPMorgan Lied To Fed, Did Not Report Losing Trades Whistleblower Charges





Long before Virtu was forced to pull its IPO due to the backlash against HFT frontrunners in party due to being stupid enough to post its perfect trading record of 1 trading day loss in 5 years which could only be the result of a grossly rigged market, we pointed out that another entity, one having little in common with your garden variety HFT parasite, namely JPMorgan, had a 2013 trading record which could be summed up on one word only: perfection. Yet while one could simply attribute the same kind of market rigging to JPM as one can (and should) to the average hi-freak, it seems there may be more here than meets the eye so used to seeing manipulation everywhere it looks. According to Australia's Sydney Morning Herald, "a technical support person who worked for JP Morgan in Australia claims the bank regularly misled its New York parent and the US Federal Reserve by failing to report losing trades."

 
Tyler Durden's picture

China's "Strike First" Anti-Terrorist Policy Fails Again - Explosion Hits China's Xinjiang Region, Multiple Deaths





It appears yet again that China's "strike first" anti-terrorism policy has failed as explosions have rocked Urumqi, the capital city of China's unrest-plagued Xinjiang Uyghur Autonomous region, killing (and injuring) multiple (but unknown) people. Social media suggests 2 SUVs entered the crowded market in the center of the city ploughing down onlookers, throwing explosives from the cars, before a blast was heard. One witness noted that the cars were painted with "uighur" language slogans. Flames and heavy smoke were seen nearby, police are on the scene and the 2 SUVs are being removed. There is no official death or injury count as of yet.

 
EconMatters's picture

Coal: A 'Million Dollar Mile' Getting Longer In the U.S.





U.S. demand for coal has fallen in recent years and export has become ever more important to domestic coal producers.  Asia is the obvious export target, but challenges abound.

 
Tyler Durden's picture

Futures Taking Their Time Before The "Turbo Tuesday" Ramp





Not much going on tonight, except for the non-coupy martial law announcement in Thailand where the government is said to still be in charge of everything except for martial law decisions taken by the army of course, which in turn is in charge of everything else apparently including the central bank which intervened so extensively in the market, the Baht was barely changed at one point. There was also news of explosions and clashes in Benghazi but as everyone knows, what difference does Libya make at this, or any other, point. Additionally overnight there were reports that the cities of Slavyansk and Kramatorsk in east Ukraine were being shelled by the Ukraine army but that too barely registered as bullish for the USDJPY (which in now traditional fashion ramped during the US day session then sold off during Asia hours).

 
Tyler Durden's picture

"Exceptional" - USA Is Number 1 In... Gambling Losses





Last week we highlighted just how "rigged" the casino really is (real casinos - as opposed to the equity markets) and while that was shocking, the USA can be proud of another exceptionalism... As The Economist notes, at $119 billion in 2013, the United States was the biggest gambling loser in the world. However, on a per capita basis, Australia and Singapore top the list.

 
Tyler Durden's picture

Frontrunning: May 19





  • Qatar Bank: Deutsche Bank to raise $11 bln with help from Qatar (Reuters)
  • AstraZeneca rejects Pfizer's take-it-or-leave-it offer (Reuters)
  • China Home-Price Growth Slowdown Spreads as Sellers Discount (BBG)
  • The new face of NSA: Mike Rogers (Reuters)
  • Putin orders troops near Ukraine to return home (AP)
  • Wall of Worry Rebuilt as Nasdaq Rout Sends Cash to High (Nasdaq)
  • Bank of England's Mark Carney highlights housing market's risk to UK economy (Guardian)
  • Greek Selloff Shows Rush for Exit Recalling Crisis (BBG)
  • Anti-austerity Greek radicals ahead in Athens local election (AFP)
 
Tyler Durden's picture

Guest Post: The Myth Of Over-Population





The world is overpopulated. The street are clogged, traffic is in a snarl, and people are living – both figuratively and literally – right on top of each other. There’s hardly enough room to swing a cat these days, right? Wrong.

 
Tyler Durden's picture

If You Eat, Drink, & Smoke, These Are The Worst Places To Live In The World





While the golden beaches and bronzed beauties may attract the world's eaters, drinkers, and smokers to Australia's shores, Melbourne and Sydney are the most expensive place in the world to partake of these life necessities. Close behind is that other paradise... Caracas, Venezuela. But if all you want to do is eat... the socialist safe haven of Venezuela is not where you want to end up as a loaf of bread costs on average over $11. It hasn't always been that way... the cost of eating, drinking, and smoking in Caracas has soared almost 400% in the last 10 years.

 
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