Capital Markets

Grocery Stocks Crash After Amazon Buys Whole Foods

(WMT -4%, TGT -5.5%, SFM -7.6%, KR -12%) Whole Foods stock was halted for 'news pending'... and now we have the answer - Amazon to acquire Whole Foods Market for $42/share in an all-cash transaction valued at ~$13.7b, including Whole Foods Market’s net debt.

The Blow-Off Top Is Here: Second Largest Weekly Inflows To Wall Street In History

For confirmation that the market is now in its "blow off top" phase, look no further than the latest BofA "flow show" in which Michael Hartnett reports that capital markets just saw their biggest week of equity inflows since the US election ($24.6bn), another chunky inflow to bonds ($9.0bn), which combines to "the second largest week of inflows to Wall Street ever (largest was $35.5bn in Dec'2014)."

Doug Kass: Not Even The Algo Creators Know What Is Going On

"The machines have no fear of flash crashes or any other kind of crash. Such crashes might even serve their purpose of 'making a profit'... Be forewarned as last Friday's Nasdaq schmeissing may be a walk in the park compared to what may happen in the future...This is not my Grandma Koufax's stock market."

Is This The Scariest Chart For Central Banks?

"Monetary policy has left the allocation into risky assets stretched at very high prices in a modest recovery with major structural issues still unresolved. The efficacy of existing policy tools in the future seems greatly diminished."

JPMorgan COO Matt Zames Is Leaving The Bank, Takes $48 Million Exit Package

In what is the biggest financial news of the day, with "Triple Threat Thursday" now downgraded to Single, outlook negative, moments ago Bloomberg reported that JPM COO, and former co-chair of the Treasury Borrowing Advisory Committee, Matt Zames who was viewed as a potential successor to CEO Jamie Dimon, is leaving after 13 years at the bank.

"The Western Status Quo Political System Is Collapsing Into 'Something Else'"

"...as the Western status quo political system collapses into Something Else, how is it possible that our capital markets are not similarly gripped by volatility and stress? What is responsible for breaking the transmission mechanism from political risk to market risk? I’ve got a macro answer and I’ve got a micro answer..."

The Internet Helped Kill Inflation In America, Says Credit Suisse

"...what’s really killed inflation clearly isn’t the Fed’s monetary policy but the Internet – it’s the sharing economy, the network economy it’s the uber-deflationary companies like Uber, Amazon, Airbnb and the like who have transformed most companies and most sectors into price takers rather than price makers."