• ilene
    01/28/2015 - 19:33
    Suppose you could print up counterfeit dollars, euros or yen that were identical to the real things. Fun, you think? Here's how it plays out. 

Mexico

EconMatters's picture

European Bond Market: Bubble of all Bubbles!





Investors in European Bonds are running over each other all in an effort to front run what the Big Banks have been begging the ECB to begin a bond buying program.  It is hilarious as European yields are already ridiculously low right now, how much lower do they think these yields can go?

 
Tyler Durden's picture

A Tale Of 2 Americas: "Baby Massage" & iPads Versus ".38 Revolver" & Antichrist





Based on the results of a decade of search data, NY Times offers a rather disturbing portrait of the very different subjects that occupy the thoughts of richer America and poorer America. Offering a glimpse into the day-to-day thinking behind the nation's inequality, searches in the hardest places to live include health problems, weight-loss diets, guns, video games, religion and Antichrist!? In the easiest places to live, cameras, iPads, and baby massage are highly correlated to ease-of-living.

 
Tyler Durden's picture

Key Events In The Current Week





Key highlights in the coming week: US Durable Goods, Michigan Conf., Services PMI, PCE, and CPI in Euro area and Japan. Broken down by day: Monday - US Services PMI, New Home Sales (Consensus 4.7%); Singapore CPI; Tuesday - US Durable Goods (consensus 7.5%) and Consumer Confidence; Wednesday - Germany GfK Consumer Confidence; Thursday - US GDP 2Q (2nd est., expect 3.70%, below consensus) and Personal Consumption; Euro area Confidence; CPI in Germany and Spain; Friday - US Michigan Conf. (consensus 80.1), PCE (consensus 0.10%), Chicago PMI; Core CPI in Euro area and Japan (consensus 2.30%). Additionally, with a long weekend in the US coming up, expect volumes into the close of the week to slump below even recent near-record lows observed recently as the CYNKing of the S&P 500 goes into overdrive.

 
Tyler Durden's picture

Rick Perry "ISIS Could Be In US, Need To Be Eliminated Now"





Amid his corruption indictments, Texas Governor Rick Perry is making more headlines today. During a CNN interview, Perry exclaimed "it's possible ISIS may have crossed into The United States from Mexico." Speaking earlier at The Heritage Foundation, Perry blasted, "they need to be eliminated, and they need to be eliminated now."

 
George Washington's picture

Council On Foreign Relations: The Ukraine Crisis Is the West’s – Not Putin’s – Fault





Mainstream, Hawkish Group Blames the West for the Mess In Ukraine

 
Tyler Durden's picture

All Eyes On Jackson Hole: Key Events In The Coming Week





The main event of the week will be Yellen's long awaited speech at the Jackson Hole 3-day symposium taking place August 21-23. The theme of this year's symposium is entitled "Re-Evaluating Labour Market Dynamics" and Yellen is expected to deliver her keynote address on Friday morning US time. Consensus is that she will likely highlight that the alternative measures of labour market slack in evaluating the ongoing significant under-utilisation of labour resources (eg, duration of employment, quit rate in JOLTS data) have yet to normalise relative to 2002-2007 levels. Any sound bite that touches on the debate of cyclical versus structural drivers of labour force participation will also be closely followed. Unlike some of the previous Jackson Hole symposiums, this is probably not one that will serve as a precursor of any monetary policy changes but the tone of Yellen's speech may still have a market impact and set the mood for busier times ahead in September.

 
Tyler Durden's picture

NAFTA Is 20 Years Old – Here Are 20 Facts That Show How It Is Destroying The Economy





Back in the early 1990s, the North American Free Trade Agreement was one of the hottest political issues in the country.  When he was running for president in 1992, Bill Clinton promised that NAFTA would result in an increase in the number of high quality jobs for Americans that it would reduce illegal immigration.  Ross Perot warned that just the opposite would happen.  He warned that if NAFTA was implemented there would be a "giant sucking sound" as thousands of businesses and millions of jobs left this country.  Most Americans chose to believe Bill Clinton.  Well, it is 20 years later and it turns out that Perot was right and Clinton was dead wrong.  But now history is repeating itself, and most Americans don't even realize that it is happening.  As you will read about at the end of this article, Barack Obama has been negotiating a secret trade treaty that is being called "NAFTA on steroids", and if Congress adopts it we could lose millions more good paying jobs.

 
Tyler Durden's picture

Import Prices Have First Drop Since April; Price Of Imported Cars Plunges Most Since 1992





In July, the rest of the world once again succeeded in exporting its deflation to the US, confirmed by a -0.2% drop in the Import Price Index, its first decline since April following a 0.1% increase in June, if just a fraction better than than the -0.3% consensus.This was also a 0.8% increase Y/Y, suggesting June may have been a Y/Y top following 5 consecutive months of annual increases. The key drivers for the decline: Fuel imports as well as car prices. To wit: the price index for import automotive vehicles declined 0.8 percent in July, the first monthly decrease for the index since a 0.1-percent decline in February and the largest 1-month drop since the index fell 1.1 percent in December 1992. Why? Because foreign car sellers have no choice but to slash prices to compete with the US subprime flood making domestic car prices effectively "free."

 
Tyler Durden's picture

Frontrunning: August 14





  • Police fire tear gas, stun grenades at Missouri protesters (Reuters)
  • Putin’s Pipeline Bypassing Ukraine at Risk Amid Conflict (BBG)
  • Russia's Largest Oil Company Seeks $42 billion to Weather Sanctions (WSJ)
  • Shells hit central Donetsk, Russian aid convoy heads towards border (Reuters)
  • U.S. Tightens Sanctions, Putting More Russian Companies at Risk (BBG)
  • How to Blindly Score 43% Profit Overnight in China Stocks (BBG)
  • Tears guaranteed: San Diego Pension Dials Up the Risk to Combat a Shortfall (WSJ)
  • Euro Recovery Halts as Germany Shrinks, France Stagnates (BBG)
  • Billionaire Found in Middle of Bribery Case Avoids U.S. Probe (BBG)
  • Hillary Clinton, Barack Obama 'Hug It Out' on Martha's Vineyard (WSJ)
 
George Washington's picture

We’ve Opened the Gates of Hell





Fukushima Spews Radiation World-Wide

 
Tyler Durden's picture

Las Vegas Will Go Dry If Water Levels Drop 7% Further - Lake Mead Hits Record Lows





Six weeks ago we highlighted how "screwed" Las Vegas is as the ongoing 14-year drought weighs on water levels. Today, AP reports, Lake Mead - the main source of fresh water for Las Vegas and its 40 million visitors - just hit record low levels at 1080 feet. Most concerning - at 1,000 feet, drinking water intakes will no longer function and Las Vegas will go dry. As analysts concluded previously, "unless it can find a way to get more water from somewhere, Las Vegas is out of business. Yet they’re still building, which is stupid."

 
Tyler Durden's picture

How To "Value" Sovereign Bonds In 2 Words: US 'Friend' Or 'Foe'





If a trader knew nothing about the growth, the debt, the inflation, the exporters vs. importers, the serial defaulters, currency manipulators, hot-money or conversely deflation fighters; simply grouping the nations of the world on whether they were 'friend' or 'foe' to the US would provide an odd highly correlated value perspective on the interest rates paid on 1yr and 10yr sovereign debt... It appears your status with the central bank cabal was more important than your ability to repay the loaned money?

 
Tyler Durden's picture

UltraLong Bond Madness – Issuance Of 30 Year+ Maturity Debt Soars 22% In 2014





Yesterday, the Wall Street Journal published an article highlighting the surge in what it calls “ultralong” bonds, defined as having a maturity of more than 30 years. The findings are simply stunning. In what may seem counterintuitive, bond yields at hundred year plus lows in many countries has led major investment firms to rush into ever riskier and longer duration fixed income securities just to earn some income. This has opened the floodgates to governments and corporations looking to lock in low yields on debt they won’t have to pay back for a generation. Just to name a few, this year we have already seen a 100-year bond sale by Mexico, two separate 50-year bond issuances by Canada, and wait for this one, Spain of all countries is set to try to sell a 50-year bond!

 
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