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Tyler Durden's picture

Trump Hints He Would Replace Janet Yellen





Three weeks after angering the mainstream media with his apocryphal assessment that the US "Is Headed For A Massive Recession" and that "It's A Terrible Time To Invest In Stocks", Trump is likely set to make even more waves with an interview he gave to Fortune magazine, which will be released in its entirety later this week, in which Trump says that while he likes Janet Yellen’s low interest rates, he is not a big fan of Janet Yellen herself.  "I think she’s done a serviceable job," Trump tells Fortune. "I don’t want to comment on reappointment, but I would be more inclined to put other people in."

 
Tyler Durden's picture

"My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver





Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There’s a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane.  Or Diana Wang, 23,  who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds."

 
Tyler Durden's picture

JPMorgan, Deutsche Bank, Rothschild Yanked Into Probe Of Goldman-Backed Malaysian Slush Fund





When last we checked in on the 1MDB saga, Goldman was busy tying up a few loose ends. Tim Leissner, the banker who built the firm’s Southeast Asia operation from the ground up and the man behind a series of questionable deals that funded what would eventually become Malaysian PM Najib Razak’s personal slush fund, was essentially forced out in January, after bank investigators uncovered what they said was an unauthorized reference letter. Now, the global effort to find out how nearly three quarters of a billion dollars ended up in Najib's checking account looks set to ensnare all of the usual suspects.

 
Tyler Durden's picture

Alice In Wonderland - Why Everything Is Nonsense





The entire Deep State complex is at the heart of the nonsensical, corrupt, and fraudulent system... Expecting the Mad Hatter to protect you? Or the Cheshire Cat? Good luck with that!

 
Tyler Durden's picture

JPM: The Short Squeeze Is Largely Over





"Three quarters of the previous selling of equity ETFs during January and February has been reversed in just three weeks. CTAs appear to have fully covered their shorts. Indeed both CTAs and Discretionary Macro hedge fund managers appear to be close to neutral right now... we conclude that the short covering phase that started a month ago is very advanced."

 
Tyler Durden's picture

HY Credit Spreads Have Never Been This High Outside Of A Recession





"We are in the bottom of the 8th or 9th inning, and unless the Fed steps in to add liquidity to the market, which seems unlikely, I don’t expect extra innings... there is no question that the bubble will burst, resulting in a mini or not-so-mini credit crisis."

 
Tyler Durden's picture

How This Default Cycle Is Different: Record Low Recovery Rates





Once the current short squeeze is over, expect everyone to start paying far more attention to recovery rates and the true value of "fundamentals." Here's why.

 
Tyler Durden's picture

Small Caps At Crucial Resistance - Beware Shenanigans





Amid a recent exuberant short-squeeze-driven bounce, the 'real' valuation of the Russell 2000 remains at insanely high levels (and gravely decoupled from credit markets). But as Dana Lyons' explains the market likes to do whatever will fool the most people. So while this level should at least be an interesting one in producing a battle between the Russell 2000 bulls and the bears, it would also be an ideal spot for the market to unleash its shenanigans.

 
Tyler Durden's picture

Kuroda's NIRP Backlash - Japanese Interbank Lending Crashes





Not only has the Yen strengthened and stocks collapsed since BoJ's Kuroda descended into NIRP lunacy but, in a dramatic shift that threatens the entire transmission mechanism of negative-rate stimulus, Japanese banks (whether fearing counterparty risk or already over-burdened) have almost entirely stopped lending to one another. Confusion reigns everywhere in Japanese markets with short-term interest-rate swap spreads surging and bond market volatility spiking to 3 year highs (dragging gold with it).

 
Tyler Durden's picture

Coal Mine Canary Or "Opportunity?" You Decide





Be our guest. Lever up in junior US CLO tranches. It should be fine. Of course if it turns out poorly you'll look like the biggest sucker on the planet because you should be able to divine something about the suitability of an investment by observing supply and demand dynamics.

 
GoldCore's picture

“Buy Gold” As “Insurance Is Warranted” – Deutsche Bank





The embattled German bank has said that rising economic risks and market turmoil mean investors should buy gold for insurance.

 
Tyler Durden's picture

Putting It All Together: When Does The Junk Bond Sell Off End, And When Should One Buy





Bottom line, our conversations with investors suggest yields in the 20 – 25% context could be attractive enough to draw in marginal capital – although several investors noted that is reasonable for triple C risk excluding commodities. In short, we're not there yet.

 
Tyler Durden's picture

Negative Rates In The U.S. Are Next: Here's Why In One Chart





Here is the one chart which in our opinion virtually assures that the Fed will follow in the footsteps of Sweden, Denmark, Europe, Switzerland and now Japan.

 
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