Capital Markets

Tyler Durden's picture

"On The Cusp Of A Staggering Default Wave": Energy Intelligence Issues Apocalyptic Warning For The Energy Sector

The US E&P sector could be on the cusp of massive defaults and bankruptcies so staggering they pose a serious threat to the US economy. Without higher oil and gas prices — which few experts foresee in the near future — an over-leveraged, under-hedged US E&P industry faces a truly grim 2016.  "I could see a wave of defaults and bankruptcies on the scale of the telecoms, which triggered the 2001 recession."

Tyler Durden's picture

China's Plunge Protection Team Now Owns 6% Of The Entire Chinese Stock Market

Friday's nearly 6% plunge on the SHCOMP left some market participants wondering where the plunge protection team was hiding in the final minutes of trading. As FT reports, Beijing's so-called "national team" now owns 6% of the entire mainland market and as we saw in September, the paper losses on that kind of portfolio can add up quickly when things go south. The question now is whether the PBoC will step back in if we have a few more days like today.

Tyler Durden's picture

China Unleashes Perfect Storm Of Bad News Prompting Stock Market Plunge

From witch hunts to corporate defaults to abysmal data, Friday marked a rather unceremonious end to the week for China, as a veritable perfect storm of bad news sent the SHCOMP reeling. Unfortunately for China's day trading masses the plunge protection team was, like Guotai Junan International Holdings’ CEO Yim Fung, "missing" in action.

Tyler Durden's picture

Giving "Thanks" To The Fed - Holiday Dinner Has Never Been More Expensive

Price for Thanksgiving dinner pre-Fed: $0.50

Price for Thanksgiving dinner 102 years after establishement of the Fed: $50

Tyler Durden's picture

S&P Just Warned Asia's Largest Commodity Trader It May Be Junked

As usual, S&P was late, but just over three months after our explicit warning, the rating agency finally came out with the catalyst we have been expecting when moments ago it said that it had "placed its 'BBB-' long-term corporate credit rating on Hong Kong-based supply-chain management service provider Noble Group Ltd. and the  'BBB-' issue rating on the company's senior unsecured notes on CreditWatch  with negative implications." In other words, Asia's Glencore is about to be junked.

Tyler Durden's picture

"High Profile" CEO Of China Brokerage "Disappears": "Company Says Can't Find Him"

On November 18, the Chairman and CEO of Guotai Junan went missing, and given what we know about China's crackdown on anyone suspected of engaging in activities that might send stocks lower, you know what that means...

Capitalist Exploits's picture

You Stupid, Stupid Boy! (Education of an Investor)

If you think you're fighting the market, or the banks, or the Fed, you're dead wrong!

Tyler Durden's picture

Argentina Throws Out The Peronists In "Historic" Presidential Election

"Today is a historic day. It’s the changing of an era. We can live in an Argentina without poverty, where we can all aspire to have our own homes with running water and a sewage system." 

"The question is whether this is going to be something like the rebirth of Argentina or another failed dream that people get excited about, but then they can’t overcome the challenges.”

Tyler Durden's picture

It's "Red Or Black" For Those Still Foolish Enough To Play

There’s an old adage among veteran stock traders that goes something like his, “If I told you the news before it were made public – it’s still a 50/50 bet you would guess the market’s reaction correctly.” That was when the markets had some resemblance of normalcy. Today, normalcy has been replaced with sheer lunacy as to the speculation and interpretations for where these markets go from here.

Tyler Durden's picture

Puerto Rico Faces "Public Unrest" As Cash Crunch May Leave Government Workers Unpaid

As Puerto Rico stares down a $355 million bond payment due in less than two weeks, analysts warn that without federal intervention, the commonwealth could face growing social unrest and a prolonged depression.

Tyler Durden's picture

Presenting BofA's "Number One Black Swan Event For The Global Oil Market In 2016"

"Can the government maintain this strategy of flooding the oil market? In our view, it is unlikely that Saudi leaders would want to exacerbate its ongoing reserve drain by pushing prices below $40/bbl. After all, pressure will quickly build on the riyal’s 30 year peg to the USD if Brent crude oil prices keep falling."

Tyler Durden's picture

The Party Is Over: Goldman Sees "Limited Equity Upside" As "Bernanke Put" Is Replaced With "Yellen Call"

"We see a risk that the ‘Bernanke put’ will gradually be replaced by the ‘Yellen call’. The ‘Bernanke put’ captured the intuition that when the risks to growth, monetary policy reacts aggressively to bad news. Now that these risks have receded, we expect the Fed will shift to an easing bias, implying that monetary policy will likely begin to react more aggressively to good news... Rallies in risk sentiment may be met by less accommodative monetary policy – the ‘Yellen call’.

Tyler Durden's picture

China's "Minksy Moment" - $1.2 Trillion In Ponzi Financing

“Some Chinese firms have entered the Ponzi stage because return on investment has come down very fast. As a result, leverage will be rising and zombie companies increasing.”

Tyler Durden's picture

"If You Get Enquiries Just Obfuscate And Stonewall" - How Barclays Rigged The FX Market For Seven Years

Do not involve Sales in anyway [sic] whatsoever.  In fact avoid mentioning the existence of the whole BATS Last Look functionality.  If you get enquiries just obfuscate and stonewall.... for the future, sales absolutely 100% do not know about the existence of last look and it shouldn’t be a concern for them...  IF any client does call up about a rejected trade . . . it is important that you state in any communication ‘THE TRADE WAS REJECTED BECAUSE OF LATENCY.’ . . . DO NOT talk about P&L on trades."

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