Australia

S&P To Open Above 2,100, Eyes All Time High As Global Markets Surge, Crude Rises Above $40

If asking traders where stocks and oil would be trading one day after a weekend in which the Doha OPEC meeting resulted in a spectacular failure, few if any would have said the S&P would be over 2,100, WTI would be back over $40 and the VIX would be about to drop to 12 and yet that is precisely where the the S&P500 is set to open today, hitting Goldman's year end target 8 months early, and oblivious of the latest batch of poor earnings news, this time from Intel and Netflix, both of which are sharply lower. We expect that after taking out any 2,100 stops, the S&P will then make a solid effort to take out all time highs, now just over 1% away.

Why The Media Lies So Much

The simple answer is — and the courts have ruled — that they can and it’s legal. They claim that it is part of free speech and that the responsibility is on the public to be informed as to whether the information is true or not. Therein lies the problem. The American public has been lulled into watching the evening news and thinking they are being informed. They aren’t. They’re being manipulated.

Netflix Crashes After Forecasting Slower Subscriber Growth, Despite Burning $1BN In Last 12 Months

The reason why NFLX stock is crashing in the afterhours session is (mostly) because of the company's guidance of its widely followed international expansion. Here, instead of guiding to or above the consensus estimate of 3.45 million subs, Netflix disappointed dramatically and now anticipates only 2 million international streaming net adds, down from both the 2.37 mm a year ago, and certainly from the 4.51mm net adds last quarter.

Singapore Unexpectedly Eases Monetary Policy After "Economy Grinds To A Halt"

After a brief hiatus during which central banks refrained from stimulating their economies by the only way they know how, i.e., devaluing their currency through monetary policy, moments ago Singapore broke ranks when its central bank, the Monetary Authority of Singapore, unexpectedly eased monetary policy and drew a line against further appreciation when it announced that it would move to zero-percent appreciation in its currency. 

State Of Fear - Corruption In High Places

"It’s a story of intrigue, corruption and multiple murders, stretching from the streets of Malaysia’s capital Kuala Lumpur, to Switzerland, France and the US as well as Hong Kong and Singapore, all the way to Australia’s doorstep."

The Great Glut: Why LNG Markets Might Not Balance Before 2025

The worldwide rush to build liquefaction capacity has the characteristics of speculative bubbles and gold rushes of past centuries. In the case of the developing LNG glut, the blame must probably be shared by overambitious promoters and prestigious but imprudent energy experts.

When Will The BOJ Intervene: This Is What Wall Street Thinks Is Kuroda's Breaking Point

With the Yen soaring (and USDJPY plunging) some 10% in 2016, in the process crushing the tightly correlated Nikkei and leading to such outcomes as the largest Asian clothes retailer slashing profits by a third in just 4 months due to the strong currency, everyone has been wondering i) why is the BOJ waiting to intervene when it had no problems unleashing NIRP when the USDJPY was about 1000 pips higher and ii) when will it intervene again?

Nomura's Bob "The Bear" Janjuah: "The Question Is What Would Be Necessary For The Fed To Do QE Or NIRP"

"My view is still that the Fed does not actually do anything more than jaw-bone until or unless the S&P500 cash index is into the 1500s and the outlook for growth, employment and inflation get significantly worse – perhaps with the unemployment rate inching higher not lower.... I am also even more convinced now that we are about 10 months through a multi-year bear market that likely won’t bottom until late 2017 or early 2018. This will be a stair-step decline with all the strength to the downside punctuated by occasional (very) violent bear market counter-trend rallies driven by short covering, hope and residual belief in policymakers"

USDJPY Crashes, Drags Equities With It As Gold Soars

Ever since the USDJPY breached the 110 support level three days ago for the first time in 17 months, the pressure on this all important FX carry cross has been rising, and then overnight, following the latest bout of recurring and increasingly ignored jawboning by various Japanese officials, the Yen soared, with the USDJPY plunging first below 109 and then moments ago dropping as low as 108.02 before rebounding modestly, dragging US equity futures lower with it.

Stocks Rebound In Calm Trading On Back Of Stronger Crude, Dollar

Unlike yesterday's overnight session, which saw some subtantial carry FX volatility and tumbling European yields in the aftermath of the TSY's anti-inversion decree, leading to a return of fears that the next leg down in markets is upon us, the overnight session has been far calmer, assisted in no small part by the latest China Caixin Services PMI, which rose from 51.2 to 52.2. Adding to the overnight rebound was crude, which saw a big bounce following yesterday's API inventory data, according to which crude had its biggest inventory draw in 2016, resulting in WTI rising as high as $37.15 overnight

Global Stocks Rise, Europe Rebounds As Oil Halts Decline

In a quiet start to the week following last week's surprisingly strong rebound which followed a stronger than expected jobs report (perhaps to demonstrate that good news is once again good news), Japan stocks continued to sink as the USDJPY dropped to fresh lows, while commodities declined for a fifth day as the supply glut from crude to copper weighed on prices, dragging down commodity currencies. European equities rose, rebounding from a one-month low.

Police Raid Offices Of Monaco Firm Accused Of Bribing World's Oil Producers

Two days ago we brought you excerpts from a Huffington Post investigative report on Unaoil, a previously obscure Monaco company that allegedly functions as a kind of Bribery Incorporated for state actors looking to curry favor with the world’s oil exporters. On Friday, acting on a request from the UK's Serious Fraud Office, police in Monaco raided Unaoil's offices along with the homes of the family at the heart of the controversy.

Japan Stocks Plunge; Europe, U.S. Futures, Oil Lower Ahead Of Payrolls

For Japan, the post "Shanghai Summit" world is turning ugly, fast, because as a result of the sliding dollar, a key demand of China which has been delighted by the recent dovish words and actions of Janet Yellen, both Japan's and Europe's stock markets have been sacrificed at the whims of their suddenly soaring currencies. Which is why when Japanese stocks tumbled the most in 7 weeks, sinking 3.5%, to a one month low of 16,164 (after the Yen continued strengthening and the Tankan confidence index plunged to a 3 year low) it was anything but an April fool's joke to both local traders.