Central Banks

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Billionaire Chinese "Beverly Hillbilly" Pays $170 Million For Naked Woman At Christie's

In what's being described as a "palpably tense" tense auction, a "Chinese Beverly Hillbilly" dubbed "The Eccentric Mr. Liu" paid the second highest price at auction in history for a Modigliani. 

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Apple Cuts Component Orders By 10% Due To Weak iPhone 6s Demand: Credit Suisse

"Apple has lowered its component orders by as much as 10% according to our teams in Asia. The cuts seem to be driven by weak demand for the new iPhone 6s, as overall builds are now estimated to be below 80mn units for the December quarter and between 55-60mn units for the March quarter."

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Goldman Sees 60% Chance Current "Expansion" Continues Another 4 Years, Becomes Longest Ever

"Using a dataset on developed market business cycles, we calculate that the unconditional odds that a six-year-old expansion will avoid recession for another four years—and mature into a 10-year-old expansion—are about 60%."

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Keynesian-Constructed 'Markets' Will "Drift Ever Further From Reality... Impoverishing All Layers Of Society"

Today’s system is essentially a system that can drift ever further away from reality through temporal discoordination, resource misallocation and eventually capital consumption. The final coordinating mechanism is nothing less than economic recession. Without them society would regress, impoverishing first the poor, then the middle class and in the end all socioeconomic layers of society.

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Bid To Cover Plunges To 6 Year Low, Indirects Slide In Weak 3-Year Auction

In short: end demand far weaker, saved by Primary Dealers, as suddenly foreign central banks are far less interested in US paper just at a time when yields are rising and purchases of said paper that much more attractive.

GoldCore's picture

China’s Central Bank Buys Another 14 Tons of Gold … Bullion Falls To 3 Month Low

China is playing the long game and they could be low balling their total gold holdings – official central bank reserves and non official, governmental holdings – in order to maintain confidence in their substantial US dollar holdings and to aid their bid to join the IMF.

Tyler Durden's picture

"Let's Go For A Big Cut" - ECB "Consensus Forming" For Far Greater Negative Rates, Reuters Reports

Compare and contrast:

- In the US, after 7 years of ZIRP and QE, the expected December rate hike is supposed to push up inflation and confirm the economy is improving; it is naturally bullish for stocks.
- In Europe, a year and a half of NIRP and a year of QE, a December rate cut further into negative territory is supposed to push up inflation and confirm the economy is improving; it is naturally bullish for stocks.

Tyler Durden's picture

Wall Street Braces For Drop In Bonuses, In Some Cases Up To 60%, For The First Time Since 2011

Not all is well on Wall Street, where when one cuts all the noise, just one thing matters: the year-end bonus. It is here that as WSJ reports citing the latest survey from Johnson Associates, bonuses are expected to see a broad drop for the first time in four years.

Tyler Durden's picture

CEO Of World's Largest Shipping Company: "Global Growth Is Worse Than Official Reports"

According to the CEO of Maersk, the world's biggest container shipping company, "the world’s economy is growing at a slower pace than the International Monetary Fund and other large forecasters are predicting." Andersen adds that "we believe that global growth is slowing down. Trade is currently significantly weaker than it normally would be under the growth forecasts we see....we’re a little bit more pessimistic than most forecasters."

Tyler Durden's picture

Why Tony Robbins Is Still Asking The Wrong Questions

The most important question (which no one’s asking) that needs to be asked and addressed today is: With the Fed. all but signalling come heck or high-water – they’re raising in December. Do the global markets once again stand at the same ledge they did in early August? And if that is indeed so, the question that is self-evident is this: Are you now better equipped both psychologically, as well as strategically and tactically adroit to handle such gyrations? Or, have you focused on “fees” and “diversification” as expounded via today’s financial books with a tendency to just BTFD because it’s worked so well in the past regardless of forethought or angst?

Tyler Durden's picture

"Stranded" Central Bankers Have Turned The Global Financial System Into A "Doomsday Machine"

The developing deflationary cycle stunting the world economy has arisen from the monumental harm that central bankers have already done, not from lack of sufficient vigor and boldness in attempting to contravene its consequences.

Tyler Durden's picture

Biderman: "Welcome To The First Global Recession Created By Central Bankers"

"Things are crazy," says Charles Biderman summing up this bizarre situation. "We’re seeing the impact of the global slowdown on the US and that’s going to continue" adds the TrimTabs founder, and, in contrast to the mainstream view on Wall Street, he doesn’t think that the Fed is going to raise interest rates (and is more likely to start a new stimulus program). "Ultimately there will be a major correction," he warns and any new stimulus will merely serve the drug-addicted market.

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"The 2008 Crisis Didn't Come From Nowhere," Jim Grant Slams The Fed's Utopian World Of "Economic Sleepwalking"

"The Fed is a relic of the age of command and control. The Fed is an anachronism,” Grant tells Bloomberg TV in this excellent interview, "The Fed ought to get out of the business of masterminding ‘the American enterprise,’ what we call the U.S. economy." Central bankers, Grant adds, by pressing rates to nothing, have given rise to this "very pleasant kind of inflation we call bull markets." While bull markets are great insofar as they reflect what is actually going on, "they are very dangerous to the extent that they are the artificial creation of artificial interest rates."

Tyler Durden's picture

The Next Level of John Law Type Central Planning Madness

The cries for going totally crazy are growing louder... the lunatics are running the asylum. One shouldn’t underestimate what they are capable of. The only consolation is that the day will come when the monetary cranks will be discredited again (for the umpteenth time). Thereafter it will presumably take a few decades before these ideas will rear their head again (like an especially sturdy weed, the idea that inflationism can promote prosperity seems nigh ineradicable in the long term – it always rises from the ashes again). The bad news is that many of us will probably still be around when the bill for these idiocies will be presented.

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