• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...
  • Gold Money
    05/03/2016 - 11:35
    Crude oil time-spreads have completely dislocated from inventories. Historically, such dislocations have proved to be short lived. We expect that either spot prices will sell-off again or the back...

Copper

Tyler Durden's picture

Markets Surge On Chinese Debt Flood; Worst European PMI In Over A Year; Crashing Pound





Propped up by the Chinese central bank and by a generous Chinese finance ministry, with further hopes a backsliding European economy will mean even more easing by Draghi, the risk on mood is back: "People are willing to take risk again,” Karl Goody, a private wealth manager at Shaw and Partners Ltd. in Sydney told Bloomberg. “People are looking at the selloff this year and saying: enough is enough, there’s been enough pain now."

 
Tyler Durden's picture

Futures Sink To Session Lows, Europe Slides Following Chinese RRR Hike Confusion, Brexit Concerns





Not even this morning's mandatory European open ramp has been able to push US equity futures higher, and as a result moments ago the E-mini hit session lows on rising concerns about Brexit as talks drag on in Brussles, but mostly as a result of overnight confusion about China's loan explosion and whether the PBOC has lost control over its maniacally-lending banks.

 
Tyler Durden's picture

Biggest Short Squeeze In 7 Years Continues After Bullard Hints At More QE, OECD Cuts Global Forecasts





Just when traders thought that the biggest and most violent 3-day short squeeze in 7 years was about to end a squeeze that has resulted in 3 consecutve 1%+ sessions for the S&P for the first time since October 2011, overnight we got one of the Fed's biggest faux-hakws, St. Louis Fed's Jim Bullard, who said that it would be "unwise" to continue hiking rates at this moment, and hinted that "if needed", the most natural option for the Fed going forward would be to do further Q.E.

 
Tyler Durden's picture

S&P Futures Storm Above 1900, Europe Jumps Despite Gloomy Asian Session





It has been a morning session of two halves. In Asia, the mood was somber, and stocks fell with the Shanghai Composite (+1.1%) outperforming on another late session binge-fest by the National Team. The European session on the other hand surged higher and did not look back when the USDJPY proceeded to soar 100 pips from overnight lows, and push the Stoxx 600 +1.7% and US equity futures up with it, with the ES trading above 1900 as of this posting, adding to the best 2-day rally in the S&P in five months.

 
Tyler Durden's picture

Will Gold Be The World's Best Currency, Again?





If you are an investor, this may be the time to have a serious talk with the face you see in the mirror and ask: Have we really moved on from the ‘barbarous relic’? Can paper money keep its value when all the Central Bankers and planners in the world are intent upon printing as much of it as they possibly can? Is it different this time?

 
Tyler Durden's picture

Market Euphoria Fizzles As USDJPY Resumes Slide; Crude Disappointed By Lack Of Production Cut





One day after markets saw a violent return of optimism, which sent stocks around the globe and US equity futures soaring (the US was closed for President's Day) driven by terrible Japanese and Chinese economic data which in turn hinted at more central bank easing, animal spirits have cooled off despite some truly unprecedented Chinese credit numbers.

 
Tyler Durden's picture

Global Stocks Soar On Stimulus Hopes After Miserable Chinese, Japanese Data; Short Squeeze





"The Chinese market didn’t react as bad as we feared and with the weak export data there is some big hope that he central banks will react quite fast," John Plassard, senior equity-sales trader at Mirabaud Securities LLP in Geneva, told Bloomberg. "It’s a mix of hope of intervention from the Asian central bank, short squeeze and also a relief in some energy and banking sectors, the most shorted sectors." And there are your catalysts for today's surge: hope of more central bank intervention and a global short squeeze.

 
Capitalist Exploits's picture

What The Big Short Can Teach You About Investing





"Truth is like poetry. And most people f**king hate poetry." - From the Big Short movie (overheard at a Washington D.C. bar)

 
Tyler Durden's picture

Neil Howe Warns The 'Professional Class' Is Still In Denial Of The Fourth Turning





"The world has fundamentally shifted over the last decade, especially since we’ve emerged from the Great Recession... But the professional class has been very slow to understand what is going on, not just quantitatively but qualitatively in a new generational configuration that I call the Fourth Turning. They don’t accept the new normal. They keep insisting, just two or three years out there on the horizon, that the old normal will return – in GDP growth, in housing starts, in global trade. But it doesn’t return."

 
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