Bank of England

Tyler Durden's picture

S&P Futures Spike Back Over 2100 On Central Banks, Yen Carry Levitation, China Bull Market





For those eager to cut to the chase and curious if overnight we have had another standard USDJPY ramp levitating US equity futures on low volume, the answer is yes. And since the USDJPY carry was patient enough, it managed to trigger the 2100 ES stops and as of this moment the futures were comfortably on the politically-correct side of 2100.

 
Tyler Durden's picture

Global Rally Continues After PBOC "Unintentionally" Sparks Market Surge With Stale News, Largest 2015 IPO Prices





The most entertaining overnight story has to do with the latest farcical development in the Chinese "market" when just after open, it was reported that PBOC Governor Zhou said a trading link with Shenzhen will start this year which promptly sent all Chinese brokerages soaring, and the Shanghai Composite jumped over 3%. And then, out of the blue, the PBOC said the undated comments were actually as of May. As Bloomberg put it, "China’s central bank unintentionally sparked a surge in the nation’s stock market by publishing five-month-old comments from governor Zhou Xiaochuan that said a link between exchanges in Shenzhen and Hong Kong would start in 2015."

 
Tyler Durden's picture

Secret "Diaries" Show ECB Board Members Met With Banks, Hedge Funds "Days" Before Policy Meetings





As FT reports, "some of the European Central Bank’s top decision-makers met banks and asset managers days before major policy decisions, and on one occasion just hours before, copies of their diaries reveal."

 
Tyler Durden's picture

Frontrunning: November 2





  • Baffle with BS: German Bonds Decline Along With Peers as Draghi Cools QE Talk (BBG)
  • And yet... ECB's Nowotny says low inflation forces ECB to act (Reuters)
  • Stocks fall on China data, but stronger euro zone lifts gloom (Reuters)
  • Global factories struggle as stimulus fails to spur (Reuters)
  • Russian airline rules out technical fault, pilot error in Egypt crash (Reuters)
  • Turkey returns to single-party rule in boost for Erdogan (Reuters)
 
Tyler Durden's picture

Withdrawals Of Gold From NY Fed Jump To 20 Tons In September, Total 276 Tons Since 2014





In September, the total physical gold held in custody at the NY Fed dropped another 19.9 tons in September, down to 5,919.5 tons. This was a doubling in gold withdrawals from 10 tons in August, and is the highest withdrawal since January. At just under 5,920 total tons in NY Fed inventory, this is the lowest amount of gold held in NY Fed custody in decades.

 
Tyler Durden's picture

The Housing Bubble Is Biggest In These Cities





"House prices have decoupled most from local incomes in Hong Kong, London, Paris, Singapore, New York and Tokyo. Buying a 60-square-meter apartment exceeds the budget of most people who work even in the highly-skilled service sector. Loose monetary policy has prevented a normalization of housing markets and encouraged local bubble risks to grow"

 
Tyler Durden's picture

The BoJ Owns 52% Of The Entire Japanese ETF Market , And Now It Wants More





Haruhiko Kuroda owns 52% of all Japanese ETFs. And now he wants more. Facing a lack of willing JGB sellers, the BoJ now faces the possibility that ramping up its easing efforts will entail expanding the bank's already elephantine equity portfolio. "At a fundamental level, I don’t support the idea of central banks buying ETFs or equities. Unlike bonds, equities never redeem. That means they will have to be sold at some point, which creates market risk."

 
GoldCore's picture

“Ignore The Noise” & Focus On The Fact That Central Banks “Remain Extremely Accommodative”





Gold will also be vulnerable towards the end of an interest rate tightening cycle as was the case in January 1980. Today, central banks including the Fed  are having difficulty raising interest rates in even a small nominal way.

 
Reggie Middleton's picture

Regulatory Capture, The True Definition of Money & A World Without Banks





In this symposium I literally challenge the audience (of mostly bankers) to tell me what use would the world have for banks in a Blockchain connected world. The response?............... 

 
Tyler Durden's picture

Marc Faber Fears No Soft-Landing Of China's "Credit Bubble Of Epic Proportions"





"Investors should (and most don't) realize China is a credit bubble of epic proportions," warns an anxious Marc Faber during a brief Bloomberg TV interview. "China is not just a country, it's an empire," Faber adds, and warns that while some sectors may have growth ("just ask Yum Brands" he jokes), "but other very important sectors like industrial production aren't  growing at the present time." In fact, Faber warns "I don't think China's economy is growing at all," and while policy-makers may be able to "cushion the downturn somewhat," he warns that achieving any soft-landing will be "very difficult," even as he expects China to continue devaluing the Yuan.

 
Phoenix Capital Research's picture

Why the Fed HATES Physical Cash and Could Move to Tax It





In its efforts to prop up the Too Big To Fail banks, the Fed has made keeping your money in a bank a low value proposition.

 
 
Tyler Durden's picture

Barcelona Threatens To Print Parallel Currency, Madrid Seethes





Over the next six months, Barcelona’s left-wing city council plans to roll out a cash-less local currency that has the potential to become the largest of its kind in the world. While the socialist mayor's official reasoning is 'to boost economic opportunities for local businesses', perhaps there are somewhat less altruistic motives behind the move, such as encouraging people to embrace cashless currencies. It appears the war on cash has moved from one of words to actions (as it is likely no coincidence that most of the local community currencies that have been launched so far are in purely digital format, as would Barcelona’s.)

 
Tyler Durden's picture

Frontrunning: October 26





  • European shares slip as easing expectations fade (Reuters)
  • Valeant and Pharmacy More Intertwined Than Thought (WSJ)
  • The Pawn Isolated: Valeant, Philidor and the Annals of Fraud (WSJ)
  • Strongest Afghan Quake Since 1949 Triggers Search for Survivors (BBG)
  • EU Agrees To Tighten Border Controls And Slow Migrant Arrival (AP)
  • Volkswagen Suspends More Employees (WSJ)
  • Volkswagen Loses Global Sales Lead to Toyota Amid Diesel Scandal (BBG)
 
Tyler Durden's picture

Frontrunning: October 22





  • ECB Haunted by Paradox as Draghi Weighs Risk of QE Signaling (BBG)
  • At odds with Republicans, Hillary Clinton to testify on Benghazi (Reuters)
  • House tees up conservative plans to raise debt limit (Hill)
  • U.S., Russia to Meet at Syria Conference to Discuss Crisis (WSJ)
  • Putin Gains Record Support Among Russians Over Syria, Poll Shows (BBG)
  • China Plans 2020 Deadline for Dismantling Capital Controls (BBG)
  • Nyrstar Drops the Most on Record as Mining Hit by Metal Rout (BBG)
 
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