Foreign Central Banks

The US Is About To Hit $20 Trillion In Debt: Here's How It Affects You

As the vulture pundits in the mainstream media pick apart hollow political scandals, the essential bankruptcy of the federal government looms just ahead. The national debt is creeping toward 20 trillion dollars, and the United State’s largest problem is once again staring the world in the face.

The Market Is Not The Economy, But Earnings Are (Closer)

"... share prices, in general, operating on the far end of the probability spectrum; where everything has to go just right in the near future, including whatever may come out of Trump “stimulus” and economic policies. EPS, however, suggests, as the calculations for GDP potential, that that would be a very low probability outcome, including a high risk of “something” going wrong all over again just like it was in 2014."

Shorts Squeezed As Foreign Central Banks Spike In Strong 3 Year Auction

Moments ago the US Treasury announced that it sold $24 billion in 3Y paper in a strong auction in which the repo tightness helped the high yield print at 1.423%, stopping through the when issued 1.427% by 0.4 bps, despite a Bid to Cover which dipped from last month's 2.968 to 2.782.

2 Year Treasury Auction Stronger Than "Tailing" Headline Thanks To Surge In Foreign Demand

With no pressure in the repo market anywhere along the curve, there was little probability of a "surprise" squeeze into today's 2Y auction, and predictably, today's sale of 2 Year paper closed with a wide tail, printing at 1.21%, some 0.6bps wide of the When Issued. However, while the yield was poor, the Internals were far stronger than the headline would suggest.

Declassified CIA Memos Reveal Probes Into Gold Market Manipulation

he CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system.

Bundesbank Repatriates Gold From New York, Paris "Faster Than Planned"

In 2016 the Bundesbank repatriated more of its gold than planned, as it moved toward relocating half of the world's second-largest reserve at home. "We brought back significantly more gold to Germany in 2016 again than initially planned. By now, almost half of the gold reserves are in Germany," Buba president Jens Weidmann said.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."