Janet Yellen
Desperate-To-Hike Fed Admits "Inflation Is Not As Low As You Think"
Submitted by Tyler Durden on 11/04/2015 21:13 -0500Following this morning's basic admission by Janet Yellen that "no matter what" The Fed is raising rates in December (which was then solemnly supported by an obedient Bill Dudley who "100% agrees with Yellen"), Fed Vice-Chair Stan Fischer, speaking tonight, reaffirmed this belief by, as we detailed previously, telling investors to ignore weak inflation. After San Fran Fed's Williams admission that "there's something going on here we don't understand," Fischer tonight admitted "US inflation is not as low as you think," at once contradicting Yellen's earlier comments and the various market-based measures, while confirming our previous detailed solving of the mystery of the hidden inflation.
The Fed Desperately Tries To Maintain The Status Quo
Submitted by Tyler Durden on 11/04/2015 14:36 -0500The production structure has long since adapted to ZIRP and “short-term gambling, punting on momentum-driven moves, on levered buybacks” are further lifting the opportunity costs of abandoning it. In order to try to rescue its credibility, the Fed may decide to try some timid, quarter-point increases. But what will they do if markets really crash?
Congress To Yellen: "If You Want To Be Good With The Almighty, Delay Until May"
Submitted by Tyler Durden on 11/04/2015 11:30 -0500"God's plan is not for things to rise in the autumn, that is why it is called fall... If you want to be good with The Almighty, you might want to delay until May."
Stocks, Bonds, Commodities Tumble After Yellen's Hawkish December Hike Comments
Submitted by Tyler Durden on 11/04/2015 10:51 -0500
Yellen Faces Lawmakers In Testimony To House Committee - Live Feed
Submitted by Tyler Durden on 11/04/2015 09:56 -0500In one of four speaking appearances by high profile Fed officials on Wednesday, Donald Trump's favorite "politicized" central planner Janet Yellen is set to testify before the House Financial Services Committee this morning.
Senators Open Investigation Into Drug Pricing; Request Documents from Valeant, Turing
Submitted by Tyler Durden on 11/04/2015 09:29 -0500In the wake of a series of high profile headlines regarding egregious increases in the price of prescription drugs, Senators Susan Collins (R-Maine) and Claire McCaskill (D-Mo.), who together lead the Senate Special Committee on Aging, have opened a bipartisan investigation into pharmaceutical drug pricing. In the crosshairs are Valeant, Turing, Retrophin (founded by Shkreli), and Rodelis.
Global Rally Continues After PBOC "Unintentionally" Sparks Market Surge With Stale News, Largest 2015 IPO Prices
Submitted by Tyler Durden on 11/04/2015 06:59 -0500- Bank of England
- BOE
- Bond
- Brazil
- Central Banks
- China
- Copper
- Crude
- Crude Oil
- default
- Equity Markets
- Eurozone
- Fed Fund Futures
- Financial Regulation
- fixed
- France
- Germany
- Glencore
- Gold Spot
- headlines
- Hong Kong
- India
- Italy
- Janet Yellen
- Japan
- Jim Reid
- Markit
- Monetary Policy
- NHTSA
- Nikkei
- Non-manufacturing ISM
- Ohio
- Porsche
- Quantitative Easing
- RANSquawk
- recovery
- Shenzhen
- Standard Chartered
- Time Warner
- Trade Balance
- Volkswagen
- Yen
- Yuan
The most entertaining overnight story has to do with the latest farcical development in the Chinese "market" when just after open, it was reported that PBOC Governor Zhou said a trading link with Shenzhen will start this year which promptly sent all Chinese brokerages soaring, and the Shanghai Composite jumped over 3%. And then, out of the blue, the PBOC said the undated comments were actually as of May. As Bloomberg put it, "China’s central bank unintentionally sparked a surge in the nation’s stock market by publishing five-month-old comments from governor Zhou Xiaochuan that said a link between exchanges in Shenzhen and Hong Kong would start in 2015."
A Furious Trump Goes After Janet Yellen: "She Is Not Raising Rates Because Obama Told Her Not To"
Submitted by Tyler Durden on 11/03/2015 20:31 -0500"In my opinion Janet Yellen is highly political and she's not raising rates for a very specific reason: because Obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn't want to see a big bubble burst during his administration."
Secret "Diaries" Show ECB Board Members Met With Banks, Hedge Funds "Days" Before Policy Meetings
Submitted by Tyler Durden on 11/02/2015 12:50 -0500As FT reports, "some of the European Central Bank’s top decision-makers met banks and asset managers days before major policy decisions, and on one occasion just hours before, copies of their diaries reveal."
Dan Loeb Now A Bear? "We Have More Single Short Names Than Long Positions In Our Book Today"
Submitted by Tyler Durden on 11/02/2015 11:41 -0500"... we have more single short names than long positions in our book today. We have reduced our net exposure by nearly a third through sales and new shorts over the past few months."
Paul Brodsky: "Expect The Unexpected. It Might Be Time To Duck And Cover"
Submitted by Tyler Durden on 10/30/2015 18:53 -0500Most investors don’t take kindly to change. “The market” chooses to stay in the here and now; each human component vibrant and alert while the whole is passive and inert…like a herd of wildebeests, protected by its mass and collective wisdom that each one of them is statistically safe from lions as long as they stay together.
Weekend Reading: Fed Stampedes The Bulls
Submitted by Tyler Durden on 10/30/2015 15:30 -0500“It wasn't raining when Noah built the ark.”
The Latest (and Dumbest) Central Bank Fraud
Submitted by Tyler Durden on 10/30/2015 11:41 -0500Investors are aware that the market is manipulated... and it doesn’t seem to worry them. They don’t fight the Fed; they sit down at the table with it. They play the game. And so far, they have done well. But now... She will signal that, soon, the central bank will begin the long return to “normalcy.” Don’t believe it. The entire system depends on abnormality.
Futures Fade Overnight Ramp After BOJ Disappoints, Attention Returns To Hawkish Fed
Submitted by Tyler Durden on 10/30/2015 06:02 -0500- Bank of Japan
- Bond
- Central Banks
- Chicago PMI
- China
- Consumer Confidence
- Consumer Prices
- Consumer Sentiment
- Copper
- Core CPI
- CPI
- Crude
- Crude Oil
- default
- Equity Markets
- Exxon
- Federal Reserve
- goldman sachs
- Goldman Sachs
- High Yield
- Hong Kong
- Initial Jobless Claims
- Italy
- Janet Yellen
- Japan
- Jim Reid
- Michigan
- Monetary Base
- Monetary Policy
- New Zealand
- Nikkei
- Nominal GDP
- Personal Consumption
- Personal Income
- PIMCO
- Portugal
- Price Action
- RANSquawk
- RBS
- recovery
- Renminbi
- Unemployment
- University Of Michigan
- Wall Street Journal
- Yen
Back in September we explained why, contrary to both conventional wisdom and the BOJ's endless protests to the contrary, neither the BOJ nor the ECB have any interest in boosting QE at this - or any other point - simply because with every incremental bond they buy, the time when the two central banks run out of monetizable debt comes closer. Since then the ECB has jawboned that it may boost QE (but it has not done so), and overnight as reported previously, the BOJ likewise did not expand QE despite many, including Goldman Sachs, expecting it would do just that.
Just One Question For Janet Yellen: Are Valuations Still 'Quite High'?
Submitted by Tyler Durden on 10/29/2015 11:58 -0500Here is our question: on May 7, the Price-to-Sales ratio of the stock market was 1.8264x. As of this moment it is higher at 1.8408x. So, dear Janet, can you please confirm what the attached chart shows, namely that "equity market valuations" are now even higher than when you said they were "generally quite high", and if so, should we still be buying stocks and why?


