• Tim Knight from...
    02/07/2016 - 10:01
    The bottom line is that Apple lost its founder, its leader, its passion, and its way. Get used to a double-digit stock. It's got much lower to go.

Fund Flows

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.

 
Tyler Durden's picture

JPM Explains How Crude Carnage Creates $75 Billion SWF "Contagion" For Equities





"Assuming selling in accordance to the average allocation of FX Reserve Managers and SWF across asset classes, we estimate that the sales of bonds by oil producing countries will increase from -$45bn in 2015 to -$110bn in 2016 and that the sales of public equities will increase from -$10bn in 2015 to -$75bn in 2016."

 
EconMatters's picture

Oil Market Trade Setup





After all, in yesterday’s oil trading there were over 600,000 contracts trading hands on the Globex exchange Tuesday with over 1 million in estimated total volume at settlement.

 
Tyler Durden's picture

The Battle Between Manufacturing And Services





As we start the new year, there is a debate raging within the market.  No the debate isn’t whether there is weakness in the manufacturing economy, that is taken as a given, especially after Friday’s awful Chicago Purchasing Manager number of 42.9. Instead, the debate boils down to this: 'bears' believe the manufacturing economy and the service economy act in conjunction with each other – that one cannot turn, without the other; 'bulls' view each segment of the economy as relatively independent and they highlight the size of the service economy relative to the manufacturing. The answer lies in the missing cog - the 'wealth' economy.

 
EconMatters's picture

Technical Analysis of the Corn Market





For example, the world population continues to grow, good farming land with proper soil management is a finite resource, and the world is going to need more food in the future.

 
Tyler Durden's picture

Guns, Gas, & "Selling Kidneys" - 'Off The Grid' Indicators Signal Slowing Economy





Our quarterly survey of “Off the Grid” economic indicators finds that the U.S. economy is still growing, but the pace seems to be slowing from Q3 2015.

 
Tyler Durden's picture

Stock Buybacks In Jeopardy: Investment Grade Bond Funds See Biggest Outflow In 17 Weeks





There has been a "continued shunning of fixed income" with over $25 Bn of outflows from bond funds in three weeks, of which $6.4 Bn took place in the past week, resulting in outflows in 6 of past 7 weeks.However, the biggest outflow risk is not to Junk but to investment grade, that main funding source for trillions in corporate stock buybacks: it was the IG space that took another beating with largest outflows ($3.5bn) in 17 weeks!

 
Tyler Durden's picture

As Wall Street Vultures Circle The Next Junk Bond Fund Casualty, A Familiar Name Emerges





And so Wall Street has set its sights on the next junk bond fund casualty, a name which is well-known to most equity market participants: none other than Waddell and Reed (WDR), the fund which rose to infamy in the aftermath of the May 2010 Flash Crash, after it was initially blamed by the SEC as the culprit behind the Dow's 1000 point crash...

 
Tyler Durden's picture

Markets Brace For More Fund Liquidations As Record Outflows Slam Debt Funds





As new investor liquidity evaporates and as billions are redeemed first from the junk bond universe, then investment grade and then loans, the debt crisis which was unleashed in anticipation of the Fed's rate hike, is about to get much worse, and lead to even more prominent hedge fund "gates" and liquidations.

 
Tyler Durden's picture

Credit Market Crashes Through 2011 Wides, 'Triple-Hooks' Worst Since July 2009





Last week we asked (rhetorically) if "something just blew up in junk?" We have the answer today, as triple-hooks (CCC-rated debt) in the junk bond market have crashed through the worst levels of 2011 and are now at the highest yields since July 2009. Amid this complacency still reigns in the equity market (just as it did when the last credit cycle turned).

 
Tyler Durden's picture

How To Profit From The Coming High Yield Meltdown





"Like most turns in the credit cycle, it is uncertain exactly when the bottom will fall out of corporate credit markets, but the catalyst is likely to be an unexpected major event, perhaps even a single company getting into trouble. While we have been bearish on high yield for over a year now, we didn't think the conditions were yet ripe for a collapse. Now they're ripe."

- Ellington Management

 
Tyler Durden's picture

The Five Reasons Why Credit Suisse Just Turned The Most Bearish On Stocks Since 2008





Overnight, Credit Suisse became the latest bank to join Goldman, JPM and increasingly more banks in predicting that 2016 will be a year in which investors will want to rotate out of equities. Specifically, the second largest Swiss bank said that it is "we reduce our equity weightings to our most cautious strategic stance since 2008 and take our mid-2016 S&P 500 target down to 2,150, the same as our end-2016 target." Here are the five reasons why CS just looked at the mounting wall of worry... and began to worry.

 
EconMatters's picture

Current Copper Price Below Cost of Production





Fed Speak became hawkish to telegraph to financial markets that the December meeting was a potential live meeting for a rate rise.

 
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