• williambanzai7
    02/01/2015 - 16:08
    “Quarterbacks shouldn’t leave the pocket, because that’s where the money is. Every politician knows this.”--Jarod Kintz
  • Marc To Market
    02/01/2015 - 11:11
    A straight forward discussion of the factors driving the US dollar. 

Australia

Tyler Durden's picture

Canada's PM To Putin: "I Guess I'll Shake Your Hand..." Putin's Response "Was Not Positive"





“I guess I’ll shake your hand but I have only one thing to say to you: you need to get out of Ukraine,” Harper told Putin, the prime minister’s spokesman Jason MacDonald said in an e-mail.

Putin’s response to the comment wasn’t positive, MacDonald said, without elaborating

 
Tyler Durden's picture

Depression-Level Collapse In Demand: In Historic First, Glencore Shuts Coal Mines For 3 Weeks





In a historic move showing just how profound the collapse in global commodity demand and trade is, earlier today the Sydney Morning Herald reported that Australia's biggest coal exporter Glencore, which last year concluded its merger with miner Xstrata creating the world's fourth largest mining company and world's biggest commodity trader, will suspend its Australian coal business for three weeks "in a move never before seen in the Australian market, to avoid pumping tonnes into a heavily oversupplied market at depressed prices." Putting this shocking move in context, it is something that was avoided even during the depths of the global depression in the aftermath of Lehman's collapse, and takes place at a time when the punditry will have you believe that the US will decouple from the rest of the world and grow at 3% in the current quarter and in 2015.

 
Tyler Durden's picture

Frontrunning: November 13





  • Moar central banks! Asian Stocks Rise Amid Stimulus Speculation; Topix Jumps (BBG)
  • Syria rebels in south emerge as West's last hope as moderates crushed elsewhere (Reuters)
  • Bufett's Berkshire to Buy Duracell Business From Procter & Gamble in $3B Deal (AP)
  • Weak Demand, Real-Estate Slump Signal Headwinds for China (WSJ)
  • China Slowdown Deepens as Leaders Said to Mull Cutting Target (BBG)
  • Saudis Reject Talk of OPEC Market Share War as Oil Slides (BBG)
  • Oil Tankers Stream Toward China as Price Drop Sparks Boom (BBG)
 
Tyler Durden's picture

Global Stocks Rise, US Futures At Fresh Record On Latest Reduction Of Growth Forecasts





The relentless regurgitation of the only two rumors that have moved markets this week, namely the Japanese sales tax delay and the "surprise" cabinet snap elections, was once again all over the newswires last night in yet another iteration, and as a result the headline scanning algos took the Nikkei another 1.1% higher to nearly 17,400 which means at this rate the Nikkei will surpass the Dow Jones by the end of the week helped by further reports that Japan will reveal more stimulus measures on November 19, although with US equity futures rising another 7 points overnight and now just shy of 2050 which happens to be Goldman's revised year-end target, the US will hardly complain. And speaking of stimulus, the reason European equities are drifting higher following the latest ECB professional forecast release which saw the panel slash their GDP and inflation forecasts for the entire period from 2014 to 2016. In other words bad news most certainly continues to be good news for stocks, which in the US are about to hit another record high (with the bulk of the upside action once again concentrated between 11:00 and 11:30am).

 
Tyler Durden's picture

Russell Napier Declares November 16, 2014 The Day Money Dies





On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a "bank run."

 
Pivotfarm's picture

Putin, the next President of the United States





Would it be that bad? Of course it would, he’s is a communist.

 
Tyler Durden's picture

And Then There’s The Things You Couldn’t Even Make Up





There are things in this world which simply look plain stupid, and then there are those that at closer examination prove to be way beyond stupid...

 
Tyler Durden's picture

Frontrunning: November 10





  • Obama urges China to be partner in ensuring world order (Reuters)
  • China Sees Itself at Center of New Asian Order (WSJ)
  • Xi Dangles $1.25 Trillion as China Counters U.S. Refocus (BBG)
  • China's Xi, Japan's Abe hold landmark meeting after awkward handshake (Reuters)
  • Revenue Softness Worries Stock Investors (WSJ)
  • How BOJ’s Kuroda Won the Vote for Stimulus Expansion (WSJ)
  • Bonus Season Brings More Pain for Traders (WSJ)
  • Russia’s Military Encounters Risk Clash in Europe (BBG)
 
Tyler Durden's picture

Dollar Profit-Taking Keeps Futures Flat In Quiet Session





Following Friday's sticksave, where the usual 3:30 pm ramp brigade pushed futures just barely green into the close despite a miss in the payrolls report which the spin brigade did everything in its power to make it seem that the hiring a few hundred thousand young female waitresses was bullish for the economy, overnight we have seen a listless session, dominated by more USD-profit taking as increasingly more wonder if the relentless surge higher in the Greenback is massively overdone, especially considering that stocks are screaming "worldwide recession" excluding the US, if only for now, because as Goldman explained soaring USD means plunging Oil, means tumbling E&P capex, means lower GDP, means less growth, means lower corporate profits, and so on. That said, we expect the now trivial Virtu JPY momentum-ignition algos to activate shortly, pushing the USDJPY and its derivative, the S&P500, higher in the coming minutes, and certainly before the US market opens in under 3 hours.

 
Tyler Durden's picture

Futures Flat With All Eyes On ECB's Mario Draghi, Who Will Promise Much And "Probably Do Nothing"





With last night's latest Japanese flash crash firmly forgotten until the next time the trapdoor trade springs open and swallows a whole lot of momentum chasing Virtu vacuum tubes, it is time to look from east to west, Frankfurt to be precise, where in 45 minutes the ECB may or may not say something of importance. As Deutsche Bank comments, "Today is the most important day since.... well the last important day as the ECB hosts its widely anticipated monthly meeting." Whilst not many expect concrete action, the success will be judged on how much Draghi hints at much more future action whilst actually probably doing nothing.

 
Tyler Durden's picture

The Revenge Of A Government On Its People





We've written a lot about Japan lately as what happens today under the no longer rising sun is going to have such repercussions worldwide that it would be foolish not to pay attention. Moreover, there’s something about what Bank of Japan Governor Haruhiko Kuroda said this morning that both perfectly and painfully illustrates to what depths, economically as well as morally, the country has sunk.

 
Tyler Durden's picture

“Global Scramble” For Silver - Coins “Hard To Get,” “Premiums Likely To Jump”





In recent days, there has been a global scramble to acquire silver bullion coins and bars after the price falls according to Reuters. Maple Leaf silver coins are difficult to acquire according to bullion dealers, with the  Royal Canadian Mint on allocation from September. There is a concern that supply times will increase and premiums are likely to jump according to Reuters. “A tumble in silver prices to four-year lows has triggered a global scramble by consumers to purchase silver coins and bars, as the spread between the price of the metal and gold reaches its widest in five years. Retailers and distributors in Asia and the United States said they were struggling to get supplies of items such as Canadian Maple Leaf silver coins. While demand for silver has been strong over the last few months, retailers say buying interest soared in recent days as the metal fell towards its lowest since 2010, along with gold.

 
Tyler Durden's picture

Lack Of Daily Central Bank Intervention Fails To Push Futures Solidly Higher, Yen Implosion Continues





While it is unclear whether it is due to the rare event that no central bank stepped in overnight with a massive liquidity injection or because the USDJPY tracking algo hasn't been activated (moments ago Abe's deathwish for the Japanese economy made some more progress with the USDJPY hitting new mult-year highs just shy of 113.6, on its way to 120 and a completely devastated Japanese economy), but European equities have traded in the red from the get-go, with investor sentiment cautious as a result of a disappointing the Chinese manufacturing report. More specifically, Chinese Manufacturing PMI printed a 5-month low (50.8 vs. Exp. 51.2 (Prev. 51.1)), with new orders down to 51.6 from 52.2, new export orders at 49.9 from 50.2 in September. Furthermore, this morning’s batch of Eurozone PMIs have failed to impress with both the Eurozone and German readings falling short of expectations (51.4 vs Exp. 51.8, Last 51.8), with France still residing in contractionary territory (48.5, vs Exp and Last 47.3).

 
Marc To Market's picture

Divergence Aids Dollar, but No Currency War





When Calpers buys an international asset for its investors, is it intervening in the forex market on behalf of the US?

 
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