• williambanzai7
    01/25/2015 - 14:27
    A Banzai7 salute to the Greeks for signaling the bankster $hitheads of the world (and their Eurocrat enablers) to shove it where the sun don't shine.

Nomura

Tyler Durden's picture

Frontrunning: April 11





  • Obama to report to his bosses today: Obama Meets With Blankfein, Dimon and Moynihan Today (BBG)
  • 2007 is here all over again: Seeking Relief, Banks Shift Risk to Murkier Corners (NYT)
  • Kuroda Calls BOJ Inflation Target 'Flexible' (WSJ)
  • Lagarde warns over three-speed world (FT)
  • N. Korea’s Retro Propaganda Calls U.S. Boiled Pumpkin (BBG)
  • Luxembourg To Ease Bank Secrecy Rule, Share Data In 2015 (BBG)
  • Bank of Korea Keeps Policy Steady (WSJ)
  • BOE Stimulus Dilemma Persists as Inflation Seen Higher (BBG)
  • EU Sounds Alarm on Spain (WSJ)
  • Qatar gives Egypt $3bn aid package (FT)
  • RBNZ Says Deposit Insurance May Increase Risk of Bank Failure (BBG)
  • Plosser Calls for Reducing QE Pace Citing Gains in Labor Market (BBG)
  • Obama budget aims to kick start deficit-reduction talks (Reuters)
 
Tyler Durden's picture

Fed Releases Names Of Early FOMC Minutes Recipients: Include Employees Of ECB, Goldman, Barclays, JPM, Law And PE Firms





We will release the full list of named recipients once we get it, but here is what we now for now, via BBG and CNN:

  • EMPLOYEES AT GOLDMAN SACHS, BARCLAYS, JP MORGAN, CITI, NOMURA, UBS, HSBC RECEIVED FED MINUTES EARLY YESTERDAY
  • MOST OF THE BANK EMPLOYEES APPEAR TO WORK IN GOVERNMENTAL RELATIONS (Lobbies)
  • ABA, SIFMA, SENATE STAFFERS RECEIVED FED MINUTES EARLY
  • FED NAMES 154 RECIPIENTS OF EARLY RELEASE OF FOMC MINUTES
  • FED MINUTES SENT EARLY TO BANKS, LAW FIRMS, PRIVATE EQUITY
  • FED EARLIER SAID RELEASE WENT MAINLY TO CONGRESS, TRADE GROUPS
  • NONE OF THE PEOPLE ON THE LIST ALERTED THE FED THAT THEY RECEIVED NONPUBLIC INFO A DAY EARLY

In other words: absolutely everyone who trades risk assets for a living.

 
Tyler Durden's picture

Frontrunning: April 9





  • JPMorgan Leads Job Cuts as Banks Seek to Bolster Profit (BBG)
  • North Koreans don't show for work at Kaesong factory park (Reuters), as NK urges foreigners to leave South Korea (FT)
  • Lisbon Struggles to Close New Budget Gap (WSJ)
  • Portugal may face delay to bailout funds (FT)
  • Putin Squeezing Out UBS to Deutsche Bank Using Oligarchs (BBG)
  • China's Xi Says Fast Growth Over (WSJ)
  • Spain’s PM wants more powers for ECB (FT)
  • Bernanke Says Interest on Reserves Would Be Main Tightening Tool (BBG)
  • Bird Flu Claims 7th Victim in China (WSJ)
  • Texting While Flying Linked to Commercial Helicopter Crash (BBG)... No, Bernanke wasn't the pilot
 
Tyler Durden's picture

US Savings Rate Near Record Low, Per Capita Disposable Income Almost Back To December 2006 Level





For those claiming there is something called a "recovery" underway, perhaps they can point out just where on this chart of Real Disposable Income per capita one can find said recovery. Because we are confused: with the average Real Disposable Income of $32,663 per person, or lower than where it was in December 2006 ($32,729), one may be excused for scratching their head.

 
Tyler Durden's picture

Cyprus Contagion Spreads As European "Omnishambles" Return; Euro Under 1.28 For First Time Since November





While everyone likes to hate on Cyprus, it is Italy that is the focal point of today's European "omnishambles" that has seen the EURUSD tumble to a five month low as of this writing. First it was economic data that scared investors, with Industrial Sales and Orders tumbling far below expected, posting numbers of -1.3% and -1.4%, respectively, on expectations of an increase. Retail sales were just as ugly, declining by -0.5% in January, on expectations of an unchanged print, with the December 0.2% number revised also into negative territory. Then Bersani, who has been tasked to form a government until tomorrow, said that the possibility of a broad coalition government does not exist, adding that no lasting government is possible without him as a premier, and requesting that Grillo's Five Star party not block his path to government, for which we wish him the best of luck as moments later Five Star ruled out all external support for a broad government and would vote no confidence for Bersani. Then we got news that the Italian financial police has searched the Nomura in Milan in connection with the Monte Paschi case, which means even more skeletons in the closet are about to be uncovered. Finally, Italy just held a 3.5% 5 and 4.5% 10 year bond auction in which the country raised less than the maximum targeted €7 billion, and in which the Bid to Cover on the 5 Year dumping to the lowest since 2002, with bidding quite soft and the yield rising to 3.65% versus 3.59% previously. This has resulted in a blow out in Italian yields by 16 bps to 4.73% compared to 4.705% earlier. End result, as noted yesterday, has been an acceleration in the rush out of the EUR, with the EURUSD sliding to under 1.28 for the first time since November 21, a blow out in Greek bonds with yields pushing up 55 bps to 12.68% and a push for real safety (sorry, not the DJIA) in the form of German 2 Year bonds, which have dipped to -0.018%, the lowest since December, on rising fears that despite endless lies out of its bureaucrats, Europe may not be fixed after all.

 
Tyler Durden's picture

Bob Janjuah Tactical Short But "We Are Not There Yet" For The Big One





Following Nomura's Bob Janjuah's 'wine into water... are we there yet?' note in February, the market has followed his script almost perfectly with a continued push to new highs and a small sell-off that was bought excitedly. While he remains convinced that "in terms of positioning and sentiment, we are 'not there yet'," for his 50% S&P 500 plunge; he does believe Q2 will see a 5-10% dip to 1450 as the shambolic policy responses to Cyprus and the 'cat' that #DieselBoom 'let out the bag' add to increasingly weak global growth data. While this dip will also likely be bought, the bearded bear expects the market's comeuppance to arrive late 2013.

 
Tyler Durden's picture

As Cyprus Delays Reopening Banks Again, Here Are The Longest Bank Closures Ever





With news this evening that the Cypriot banks will not now be re-opening tomorrow (as perhaps - as we noted earlier - a little more of those precious deposits leaked away during the closures than expected):

 CYPRUS BANKS TO REMAIN CLOSED THROUGH MARCH 27: CENTRAL BANK

We thought it useful to consider Cyprus in relation to the longest bank closures in history. Cyprus has now shutdown its banking system longer than Argentina, Ecuador, and Uruguay and as far as President Anastasiades comments that capital controls are temporary - we can only hope for the depositors sake - that it's not as temporary as Argentina's 120 month 'restrictions' starting in 2001.

 

 
Tyler Durden's picture

Frontrunning: March 22





  • Cyprus targets big depositors in bank plan  (FT)
  • Merkel Vents Anger at Cyprus Over Bailout Plan as Deadline Looms (BBG)
  • Russia rebuffs Cyprus, EU awaits bailout "Plan B" (Reuters)
  • Russia Rejects Cyprus Bid for Financial Rescue as Deadline Looms (BBG)
  • Cyprus unveils shake-up as the clock ticks (FT)
  • Remember Italy? Italy’s stalemate unnerves investors (FT)
  • Credit Suisse CEO pay jump to fuel banker bonus debate (Reuters)
  • Kuroda Rebuts Reflation Naysayers as BOJ Action Looms (BBG)
  • Fund Manager Says 'Whale' Trade Was a Bet (WSJ)
  • House averts government shutdown, backs Ryan budget (Reuters)
  • Hong Kong Homes Face 20% Price Drop as Banks Raise Rates (BBG)
 
Tyler Durden's picture

Sell-Side Strategists Summarize Cypriot Tsunami





The usually optimistic bunch of salubrious sell-side strategists are mixed in their perspective of the latest debacle to roll ashore from Europe. Most, if not quite all, expect short-term 'nervousness' and a few hardy Pollyannas remain though looking at the other end of the rainbow - once again because, drum roll please, "central banks will respond." Adding to our summary yesterday, Bloomberg adds another 13 sell-side opinions (and Moody's), it the diversity of response is perhaps best glimpsed with one who "does not expect savers to be fearful of a confiscation of their savings and spark a run on banks" for some whimsical reason and another states unequivocally, "No sensible foreign depositor would continue to keep money in a banking system that just took nearly 10% of his deposit without any notice."

 
Tyler Durden's picture

Frontrunning: March 4





  • Must defend against Chinese colonial expansion and get the Nigerian oil: U. S. Boosts War Role in Africa (WSJ)
  • BOJ nominee Kuroda sets out aggressive policy ideas (Reuters)
  • China becomes world’s top oil importer (FT)
  • Baby Cured of HIV for the First Time, Researchers Say (WSJ)
  • Obama to nominate Walmart's Burwell as White House budget chief (Reuters)
  • Wal-Mart Anxious to Combat Amazon’s Lead in Web Vendors (BBG)
  • Nasdaq executing trades at a loss (FT)
  • Spending cut debate casts pall over Obama's second-term agenda (Reuters)
  • Russell Indexes to Reclassify Greece as Emerging Market (BBG)
  • Bond Bears Collide With Swaps Showing Low Rates (BBG)
  • Buffett Deputies Leaving Billionaire in the Dust Get More Funds (BBG)
  • Brazil's leftist president fights to win back business (Reuters)
  • U.S. Special Forces train Syrian Rebels in Jordan (Le Figaro)
  • Carlos Slim Risks Losing World’s Richest Person Title as Troubles Mount (BBG)
 
Tyler Durden's picture

Frontrunning: March 1





  • US braced as cuts deadline passes (FT)
  • U.S. stares down start of steep "automatic" budget cuts (Reuters)
  • Yeltsin-Era Tycoons Sell Resources for Distance From Kremlin (BBG)
  • Italy's center-left leader rules out coalition with Berlusconi (Reuters)
  • Apple Required Executives to Hold Triple Their Salary in Stock (WSJ)
  • BOJ Seen Spiking Punchbowl in April Under New Chief Kuroda (BBG)
  • Diplomatic fallout from EU bonus cap (FT)
  • Italy’s Stalemate Jeopardizes Resolution of Crisis, Finland Says (BBG)
  • Chinese trader accused of busting Iran missile embargo (Reuters)
  • JPMorgan No. 1 Investment Bank Amid a Flurry of New Deals (BBG)
  • Eurotunnel’s Ferry Strategy at Risk as Rivals Cry Foul (BBG)
  • Telepathic rats team up across continents (FT)
 
Tyler Durden's picture

Frontrunning: February 25





  • Risk of instability hangs over Italy poll (FT), Protest votes add to uncertainty in close Italy election (Reuters), and... Risk On
  • Czech inspectors find horsemeat in IKEA meatballs (Reuters)
  • China’s Slower Manufacturing Casts Shadow Over Recovery (Bloomberg)
  • So much for reform: China Prepares for Government Shuffle as Zhou Stays at PBOC (Bloomberg)
  • France to pause austerity, cut spending next year instead: Hollande (Reuters)
  • Sinopec to buy stake in Chesapeake assets for $1.02 billion (Reuters)
  • White House warns states of looming pain from March 1 budget cuts (Reuters)
  • China Quietly Invests Reserves in U.K. Properties (WSJ)
  • Osborne Keeps Austerity as Investors See Downgrade as Late (BBG)
  • South Korea's new president demands North drop nuclear ambitions (Reuters)
  • Russia accuses U.S. of double standards over Syria (Reuters)
 
Tyler Durden's picture

Columbia Business School Dean Glenn Hubbard's Outside "Consulting And Advisory Relationships"





U.S. Department of Justice, Airgas, Alternative Investment Group, American Century, America’s Health Insurance Plans, ApexBrasil, Association for Corporate Growth, Bank of America, Bank of New York Mellon, Barclays Services Corporation, BNP Paribas, Capital Research, Citigroup, Deutsche Bank, Fidelity, Franklin Resources, Freddie Mac, Goldman Sachs, Intel, JP Morgan Chase, Microsoft, National Rural Utilities Cooperative Finance Corporation, NMS Group, Oracle, Pension Real Estate Association, Real Estate Roundtable, Reynolds American, Royal Bank of Scotland, Visa, Wells Fargo, Nomura Holdings America, Laurus Funds, Ripplewood Holdings

 
Tyler Durden's picture

Frontrunning: February 22





  • Spain’s Deficit Widened to 10.2% on Bank-Rescue Cost (BBG) - or as Rajoy would say, when one excludes all negatives, it was a surplus
  • Monti Austerity Pushes Italians Toward Parliament Upheaval (BBG)
  • Russia accuses U.S. of double standards over Syria (Reuters)
  • Euro Area to Shrink in 2013 as Unemployment Rises (BBG)
  • UK, China central banks to discuss currency swap line (Reuters)
  • Italy Court Rejects Challenge to Bailout of Monte Paschi (BBG)
  • Japan's Abe to showcase alliance, get Obama to back Abenomics (Reuters)
  • Russia’s missing billions revealed (FT)
  • China Home-Price Gains May Presage Policy Tightening (BBG)
  • Fed unlikely to curtail stimulus despite rising doubts (Reuters)
  • Banks face fines up to 30 per cent of revenues (FT) - just as soon as Basel III is passed (i.e., never)
  • J.C. Penney Can Raise Billions Under Revised Credit Line (BBG)
  • Cost of Dropping Citizenship Keeps U.S. Earners From Exit (BBG)
 
Tyler Durden's picture

FoxConn Freezes Hiring On iPhone Production Slowdown





First it was Walmart letting the truth finally slip last Friday when a leaked memo showed recent sales are a "total disaster." Today, as anyone who has looked at AAPL premarket quotes will surmise, it's Apple's turn, following a report in the FT that FoxConn, the world's largest contract electronics manufacturer, "has imposed a recruitment freeze across almost all of its factories in China 5th as it slows production of Apple's iPhone." It is not an internal memo, but in this particular case actions speak even louder than leaked words: 'The suspension in hiring by China's largest private sector employer, and the biggest assembler of Apple products, is the first search countrywide move since the 2009 downturn, prompted by the financial crisis. It underscores the weakening demand for some Apple products, Which has put pressure on the American company's battered share price. "Currently, none of the plants in mainland China have hiring plans," said Liu Kun, a company spokesman at Foxconn's largest manufacturing facility in the southern Chinese city of Shenzhen." So first Walmart, the world's largest private sector employer with over 2 million workers, and now FoxConn, the world's largest tech-focused employer with 1.2 million workers, is also realizing what a cashless, consumerless "recovery" means, regardless whether it is due to Apple or not. And the markets still continues to wave it off as one off events.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!