• Phoenix Capital...
    07/02/2015 - 11:09
    This process has already begun in Europe. It will be spreading elsewhere in the months to come. Smart investors are preparing now BEFORE it hits so they are in a position to profit from it...

CPI

Gold Standard Institute's picture

Think Different About Purchasing Power





The Consumer Price Index measures the falling dollar, but only partially. As interest rates drop, you get less on your capital. Yield Purchasing Power shows the full damage.

 
Tyler Durden's picture

Futures Flat On FOMC, GDP Day; Bunds Battered After Euro Loans Post First Increase In Three Years





Today we get a two-for-one algo kneejerk special, first with the Q1 GDP release due out at 8:30 am which will confirm that for the second year in a row the US economy barely grew (or maybe contracted depending on the Obamacare contribution) in the first quarter, followed by the last pre-June FOMC statement, in which we will find out whether Janet Yellen and her entourage of central planning academics will blame the recent weakness on the weather and West Coast port strikes and proceed with their plan of hiking rates in June (or September, though unclear which year), just so they can push the economy into a full blown recession and launch QE4.

 
Tyler Durden's picture

Key Events In The Coming Week: April FOMC And Q1 GDP





There are two main events in the coming week: the (second in a row disastrous) Q1 US GDP and the April FOMC.

 
Tyler Durden's picture

BoJ QE Exit "Out Of The Question," Former Official Says As Morgan Stanley Talks JGB Liquidity





"If the BoJ persists with its current pace of JGB purchases, then the incentive for investors to reduce their holdings any further is likely to dwindle away within the next 18–24 months, at which point liquidity may evaporate altogether," Morgan Stanley says, calling liquidity the "major theme" in the JGB market. Meanwhile, a former MoF official claims the BoJ is now in so far over its head that an exit from stimulus is "out of the question."

 
Tyler Durden's picture

Asian Euphoria Sends Nikkei Above 20,000, Fizzles In Europe On More Greek Fears; US Futures Down





Whether it is in sympathy with the now relentless surge in the Shanghai Composite which tacked on another 2.44% overnight to close at a fresh multi-year high just shy of 4400, well more than double from a year ago, or because Mrs Watanabe was unable to read the latest Japan trade data whose first trade surplus in 3 years hinted that there will be no new easing by the BOJ any time soon, but overnight the Nikkei closed above 20,000 for the first time in 15 years, with "makers of chocolate, mayonnaise, potato chips and household appliances" helping lift the Tokyo market according to the WSJ. The now daily Asian euphoria however did not last long in the European session, and after opening higher, the Stoxx Europe 600 slipped into negative territory just an hour into trading, and was down 0.4% by midmorning, lead by a near 1% decline on Athens' mains stock index, which has since recouped losses stemming from the overnight report that the ECB is considering an up to 50% haircut on Greek bank collateral, a move that would wipe out the Greek financial sector with ease.

 
Tyler Durden's picture

Who Is Saudi Arabia Really Targeting In Its Price War?





Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as long as possible.

 
Tyler Durden's picture

Key Events In The Coming Week





While this week sees the peak of Q1 earnings season, it will be a generally quiet week on the macro economic front for both EM and DM, with the emphasis on the latest seasonally adjusted manufacturing sentiment surveys, US durables and Japan trade.

 
Tyler Durden's picture

China To The Rescue: Global Equity Market Rebound After Latest Chinese Easing





It is only fitting that the next business day following a headline that "Global Futures Slide China Tumbles On Short Selling Boost" we would see China, in an apparent panic, not only cut its RRR by 100 bps to 18.5% - far more than expected and the most since 2008 - but, more importantly, hinted that the Friday regulatory decision to encourage short sales and tighter margin rules on "umbrella trusts" was in no way meant to pop that the Chinese stock bubble, ridiculous as it may be. End result: after Chinese futures crashed by up to 6% on Friday after the Shanghai close, overnight the SHCOMP was down just 1.64%, erasing the bulk of the futures loss. More importantly, US equity futures have seen a strong bid this morning in yet another attempt to defend not only the Apple Sachs Industrial Average from going red on the year but the all important 100 DMA technical levels.

 
Tyler Durden's picture

Modern-Day Monetary Cranks and the Fed's "Inflation" Target





The science of economics has taken a decidedly wrong turn sometime in the 1930s. In the field of monetary science specifically, sober analysis has given way to broad-based support of central economic planning, with both policy makers and their advisors seemingly trying to trump each other with ever more lunatic proposals.

 
Marc To Market's picture

Dollar Bulls Bend, but Don't Break





After trending sharply higher in recent months, the US dollar has entered a consolidative range against most of the major currencies.

 
Tyler Durden's picture

Global Futures Slide After Worldwide Bloomberg Outage, China Tumbles On Short Selling Boost





Just as China was closing for trade and Europe was opening, something previously unseen happened: no, not another another GPIF or Virtu inspired marketwide stop squeeze, those are quite recurring these days. It was virtually every Bloomberg terminal around the globe suddenly going dark.

 
Tyler Durden's picture

Bonds Drop, Dollar Pops After Hotter-Than-Expected Inflation





Stocks - for now - are ambivalent to the highest core CPI in 5 months; but the grown-up markets in bonds and FX are taking notice. The Dollar has surged (led by EUR weakness) and long-bond yields are up 5bps (back to unchanged on the week).

 
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