• derailedcapitalism
    10/12/2015 - 22:56
    Stretched debt-to-income, increased contract work (to the detriment of full-time work), and record housing prices are forcing Canadians to monetizing assets through ride-sharing, AirBnB and through...

Foreign Central Banks

ilene's picture

It’s That Time of The Month, Employment Data Leads To Investment Mood Syndrome

While usually prepared to rant and rave about how misleading the SA numbers, this month, Lee can't.  

ilene's picture

If The Guilty (Mortgage Mafia) Are Never Punished, Housing Will Never Recover

Less risk, maybe, but that's a long way from a sustained recovery. 

Tyler Durden's picture

Asia Buys Gold After Massive Single Trade Sell Off During Bernanke’s Testimony

Wednesday’s sell off is being attributed to one massive sell trade of 31 tonnes on the Chicago Mercantile Exchange during Bernanke’s speech. There are rumours of a large US fund selling and also that the selling may have been by JP Morgan – rumoured to be acting on behalf of an Asian fund. Who sold off and why is less important than the fundamentals of the gold market. Absolutely nothing has changed regarding the fundamentals of gold which remain as sound as ever with broad based demand from store of wealth buyers, institutions and central banks internationally and especially in Asia. Good volumes have been seen on the Shanghai Gold Exchange in recent days. In India, lowest gold prices in a month saw strong physical bullion demand and physical buyers hunting for gold bargains to meet the wedding season demand. India remains the world’s largest buyer of the yellow metal (900 tonnes/year) but China is expected to outpace them this year according the World Gold Council. ETF holdings gained 238,674 ounces to a record high of 70.76 million ounces, showing that institutions and investors remain keen on gold. Also, options data has not changed since Wednesday’s price falls.

ilene's picture

Priced for Nirvana

But coincidentally, the ECB’s next Long Term Refinancing Operation (LTRO) is set for February 29...

Tyler Durden's picture

Guest Post: The Great Repression

Highly paid shills for the status quo on Wall Street have recently been wheeled out to observe the fundamental ugliness of western government bonds. They are correct. This is an asset class that has managed to defy the laws of economics in becoming ever more expensive even as its supply swells. Their response has been to recommend piling into stocks instead. The logic here is not so pristine. If Napier's thesis is correct, the West faces a period of outright deflation, which will be deeply traumatic for exactly the sort of speculative stocks that have lately done so well. Admittedly, the picture is confused, and prone to all sorts of political horseplay, as observers of the long-running euro zone farce can attest. Nevertheless, when faced with a) huge underlying uncertainties; b) structurally unsound banking and government finances; and c) central banks determinedly priming the monetary pumps, we conclude that the last free lunch in investment markets remains diversification. G7 government bond markets are a waste of time (though you may end up being cattle-prodded into them regardless). But there are still investment grade sovereign markets offering positive real yields. Stock markets are partying like 1999. Which, in many cases, it probably is. We would normally advise to enjoy the party but dance near the door.

ilene's picture

Treasury Market About Face - Just a Blip or Sign of Things To Come?

Sudden collapse in withholding taxes... so now we can get back to the normal state, where the government borrows more than expected.

ilene's picture

Deconstructing The "Massive Beat" in Employment Data

If last week's tax data is indicative of what's ahead this month, the "good news" won't be sustained.

ilene's picture

The Trouble With Case Shiller, Again

The Case Shillers are shilling that the market is still weakening. But that's just not the Case.

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