Commodity Futures Trading Commission
FX Outlook in Week Ahead
Submitted by Marc To Market on 06/08/2013 08:07 -0400Here is my weekly outlook for the major foreign currencies. Yes they are not backed by silver or gold, it is still the largest of the major captial markets at an estimated turn-over of some $4 trillion a day. Yes, officials may try to guide the market directly and indirectly, but success is often elusive.
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You Bankers!
Submitted by Pivotfarm on 06/06/2013 19:43 -0400There are times when some people bite their own nose of just to spite their face. According to a report that has just been published by the Chartered Institute of Personnel and Development (CIPD), the people working in the financial sector in 120 different countries in the world think in the overriding majority of cases that they are paid far too much for what they do. Were they serious?
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Frontrunning: June 6
Submitted by Tyler Durden on 06/06/2013 07:31 -0400- Apple
- Australia
- Bond
- Carlyle
- Chesapeake Energy
- China
- Commodity Futures Trading Commission
- Crack Cocaine
- Dark Pools
- dark pools
- FBI
- Fisher
- Ford
- Greece
- Gross Domestic Product
- headlines
- Insider Trading
- International Monetary Fund
- KKR
- LIBOR
- Monsanto
- national security
- Newspaper
- Private Equity
- Real estate
- Reuters
- SAC
- Transparency
- VeRA
- Verizon
- Wall Street Journal
- Yen
- Yuan
- Global Stocks Tumble as Treasuries Rally, Yen Strengthens (BBG)
- China Export Gains Seen Halved With Fake-Data Crackdown (BBG) - so a crash in the GDP to follow?
- FBI and Microsoft take down botnet group (FT)
- Quant hedge funds hit by bonds sell-off (FT)
- Russia's Syria diplomacy, a game of smoke and mirrors (Reuters)
- Obama Confidantes Get Key Security Jobs (WSJ)
- BMW to Mercedes Skip Summer Breaks to Keep Plants Rolling even as European auto demand slides to a 20-year low (BBG) - thank you cheap credit
- Paris threat to block EU-US trade talks (FT)
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Holder Laid the Groundwork for “Too Big to Jail” In 1999
Submitted by George Washington on 06/03/2013 17:34 -0400And Other Stunning Facts I Learned Last Night ...
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June 1 - MIDAS SPECIAL – Speechless Turd, Something Is Very Wrong, What Could Be Up!
Submitted by lemetropole on 06/02/2013 11:31 -0400Turd Ferguson, of the TF Metals Report, does superb work and commentary on the precious metals markets. His latest analysis on Friday’s Commitment of Traders Report caught my attention for a number of reasons, in addition to it being so well done.
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Guest Post: Would It Make Sense For The Fed To Not Manipulate The Gold Price?
Submitted by Tyler Durden on 05/30/2013 18:16 -0400
Does it really make any sense at all that Bernanke would leave gold to trade in an open and transparent market? Hardly. Consider. The Fed has conjured multiple trillions of digital dollars out thin air in the last five years. These efforts have propped up the Treasury market, the domestic TBTF banks, the foreign TBTF banks, the ECB, the BOE, every European sovereign bond market, the RMBS market, the CMBS market, the equity market, the housing market and the entire industrial and soft commodity complexes, to name a few. Since the price of gold we see on our Bloomberg screens is set via derivatives and overwhelmingly settled in USD, the ability for central banks and bullion banks to manipulate the price of gold is way too easy. All the bullion banks have to do is coordinate (as in LIBOR), sell in size and punish anyone in their way. Take losses? No problem, more fiat can be conjured post-haste. So long as no one is taking physical delivery, the band(k) plays on. (Actually, physical demand delivery IS becoming a major new problem for the banks but this is a topic for a different note.) A quickly rising gold price upsets this fiat-engineered, centrally planned, non-market based recovery. Gold left to its’ own devices would signal the unwinding the rehypothecated world of shadow banking where latent monetary inflation goes to summer (think of it as the monetary Hamptons where only the Wall Street elite get to play). Most importantly, it would signal a huge lack of faith in the US dollar. A currency backed by nothing more than faith in central banking.
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Frontrunning: May 30
Submitted by Tyler Durden on 05/30/2013 07:58 -0400- AIG
- American International Group
- BAC
- China
- Chrysler
- Commodity Futures Trading Commission
- Crack Cocaine
- European Central Bank
- Ford
- Housing Market
- International Monetary Fund
- Italy
- Japan
- Keefe
- KKR
- Las Vegas
- NASDAQ
- national security
- Obama Administration
- Proposed Legislation
- ratings
- RBS
- RealtyTrac
- RealtyTrac
- Recession
- recovery
- Reuters
- SAC
- Unemployment
- Wall Street Journal
- Yuan
- Japan’s Stocks Correction Raises Stakes for Abe’s Growth Plan (BBG)
- China Failure to Grow With $1 Trillion Is Warning to Li (BBG)
- Blankfein Leads Bank CEO Pay With $26 Million Deemed Overpaid (BBG)
- IMF says ‘no evidence yet’ of Abenomics hurting other economies (FT)
- Europe Seeks CFTC Delay in Imposing Swaps Rules on Banks (BBG)
- Fed's Rosengren: 'Modest' QE3 cut may make sense in a few months (Reuters)
- Who’s who of Obama lobbyists pushes Keystone pipeline (FT)
- China to Study Joining U.S.-Led Trade Accord After Japan Added (BBG)
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Gas: They Want Our Bacon!
Submitted by Pivotfarm on 05/27/2013 07:02 -0400It has just been released that the UK came within 6 hours of seeing itself deprived of its eggs and bacon as gas supplies across the entire country depleted to danger levels on March 22nd.
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FX Price Action: What's Next?
Submitted by Marc To Market on 05/25/2013 07:50 -0400Price action in the foreign exchange market. Discuss.
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Forget Prayer, It's Lamb Slaughter Time: A Rational Man's Response To All Time High Gold Shorts
Submitted by Tyler Durden on 05/24/2013 18:47 -0400
Two days ago we suggested that "they better pray there is no short squeeze." Today, following the just released latest CFTC Commitment of Traders data which showed that the Comex gold short position grew once again to a new all time high of 79,416 shorts, all prayers are now off. If we may be so bold as to we suggest, the time has come to upgrade to the sacrificial slaughtering of at least a lamb on the altar of Saint Ben, because even the tiniest hint of a forced cover will now result in the biggest rip your face off levered short squeeze seen in the history of the yellow metal. Maybe throw in an ink cartridge or two for good measure...
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Silver Surges 6.8% From Lows After Slammed 10% Lower In 4 Minutes
Submitted by GoldCore on 05/20/2013 09:51 -0400It is likely that the very aggressive selling in illiquid Asian markets overnight was by a large hedge fund or bank or a combination of hedge funds and banks with deep pockets. Reuters quoted an analyst at a Japanese bank who said that silver’s price falls were due to one “unidentified investor”.
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Dollar Bull Run
Submitted by Marc To Market on 05/18/2013 07:42 -0400A look mostly at prices in the currency market and the outlook.
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Frontrunning: May 14
Submitted by Tyler Durden on 05/14/2013 07:41 -0400- Australia
- Boeing
- Bond
- China
- Commodity Futures Trading Commission
- Corporate Finance
- Dell
- Detroit
- Dreamliner
- European Union
- France
- General Electric
- Germany
- Goldman Sachs
- goldman sachs
- India
- Indiana
- Insider Trading
- International Energy Agency
- JPMorgan Chase
- Kuwait
- Natural Gas
- New York Times
- Newspaper
- OPEC
- Private Equity
- Real estate
- Reuters
- Royal Bank of Scotland
- Securities and Exchange Commission
- Sun Capital
- Third Point
- Verizon
- Wall Street Journal
- Controversies give Obama new governing headaches (Reuters)
- About that Capex... BHP to Rein In Investment, Chief Says (WSJ), considers returning cash to shareholders (FT)
- Bloomberg users’ messages leaked online (FT)
- Japanese mayor sparks China outrage with sex-slave remarks (Reuters)
- Economists Cut China Forecasts (WSJ)
- U.S. oil boom leaves OPEC sidelined from demand growth (Reuters)
- U.S. banks push back on change in loan loss accounting (Reuters)
- Fed’s Plosser Says Slowing Inflation No Concern for Policy (BBG)
- Watchdog probes 1m US swap contracts (FT)
- Used Gold Supply Heads for ’08 Low as Sellers Balk (BBG)
- Ex-BlackRock Manager Said to Be Arrested in U.K. Probe (BBG)
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Muted Sentiment Following German Confidence Miss
Submitted by Tyler Durden on 05/14/2013 06:56 -0400There was a time three months ago, when "beating" German confidence served as an upward stock and EURUSD catalyst not once but twice in the same week. One would therefore assume a German confidence miss, such as with today's German ZEW, which barely budged from 36.3 to 36.4 on expectations of a rise to 40.0, with the current situtation dropping from 9.2 to 8.9, on expectations of a rise to 9.8, should be risk negative. Well, it wasn't: it is the new normal after all, and in fact the EURUSD jumped in a kneejerk reaction at 5 am, rising over 1.3000, albeit briefly, assisted by ZEW members saying that respondents do not see a further ECB rate cut - well, of course not - they are Germans, and Draghi isn't. Perhaps the news of a better than expected Eurozone Industrial Production print, which rose from 0.3% to 1.0%, on expectations of a more modest increase to 0.5%, is what catalyzed the subsequent drop in both the EUR, and US stock futures. The IP strength was driven by Germany, Spain and Netherlands offset be decline in France and Italy.
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Dollar Risks Consolidation Before Next Leg
Submitted by Marc To Market on 05/11/2013 06:12 -0400The dollar rallied in the second half of last week, but looks set to consolidate first before extending the rally. The yen was not the weakest major currency. That dubious honor goes to the Australian dollar.
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