• GoldCore
    05/25/2015 - 09:19
    China launches international gold fund with over 60 countries as members. The large fund, which expects to raise 100 billion yuan or $16 billion, will develop gold mining projects across the economic...

notional value

Tyler Durden's picture

A Step By Step Guide How To Crash The Entire Market





"Defendants' use of the Layering Algorithm and the 188/289-Lot Spoofing intensified throughout the day. At 11:17 a.m. CT, Defendants turned the Layering Algorithm on for more than two consecutive hours, until 1 :40 p.m. CT. During this cycle, Defendants utilized the Layering Algorithm to place five orders, totaling 3,000 contracts. A sixth order was added at around 1:13 p.m. CT, increasing the total to 3,600 contracts.... Between 11:17 a.m. CT and 1:40 p.m. CT, Defendants' actions contributed to an extreme order book imbalance in the E-mini S&P market. This order book imbalance contributed to market conditions that caused theE-mini S&P price to fall361 basis points."

 
Phoenix Capital Research's picture

As Bad As Things Were in 2007, They Are MUCH Worse Now





This is why Bernanke said rates won’t normalize in his lifetime: any normalization means a crisis magnitudes larger than the 2008 crash.

 
 
Tyler Durden's picture

Running Out Of Accounting Gimmicks: EPS Addbacks Surge Most Since Lehman





The amount of non-GAAP addbacks boosting the S&P "earnings" to their latest quarterly high has never been greater. In fact, the last time the absolutely notional value of pro-forma addbacks was anywhere near this close was in the Lehman "kitchen sink" quarter, when companies took advantage of the biggest bailout in capitalist history, to square their fudged income statement and balance sheet with accounting reality, resulting in an addback that was greater than the actual GAAP print!

 
Tyler Durden's picture

Oil Price Faces Another 20% Drop Due To Contango Math





The availability and cost of floating storage, and the magnitude of the crude oil contango will be critical in helping form the price path of oil," Soc Gen says. If that's the case, we could see crude go far lower over the coming months.

 
Tyler Durden's picture

Don't Show This To Warren Buffett (Gold vs. The Financial System)





Warren Buffett once famously chided that all the gold in the world would form a cube of 67 feet (20 meters) on each side. In doing so, he was attempting to argue that there was no point in owning gold since all the gold in the world would be an unproductive, useless hunk of metal. What’s ironic (and completely lost on the venerable Mr. Buffett) is that you could make the same argument about the paper-based financial system.

 
Pivotfarm's picture

Crash 2014?





Is It Fair to compare this sell off to the Great Recession of 2008 and 2009?

 
Tyler Durden's picture

FBN Warns Not All Pullbacks Are Created Equal





In a secular rally, pullbacks will inevitably arise. Market participants, though, should not view all drops in the same light. In addition to the differences in the depth of the collapse, the magnitude of the changes of critical investor sentiment statistics may differ greatly. Assessing the current retracement is a difficult prospect as we may have yet to reach its terminus.  Based on the initial sentiment statistics, the current decline has more similarity to the most significant historic collapses.

 
Tyler Durden's picture

Gross PIMCO Exit Sparks Record Liquidations In Short-End Of Yield Curve





It appears wherever one looks in the markets there are the skidmarks of PIMCO adjusting to life after Bill Gross. First it was MBS (and related derivatives), then CDS indices adjusted as redemption expectations raised risk premia, and now it is the short-end of the Treasury curve. As The FT notes, 3-month Eurodollar futures (instruments enabling traders to bet on the front-end of the yield curve and thus more accurately pinpoint their bets on Fed actions) saw asset managers (cough PIMCO cough) liquidate a record 868,853 contracts in the week to September 30 – the largest one-week change on record (each contract has a notional value of $1m). This dramatic shift suggests both a disagreement with Gross' "new normal" view of rates lower for longer (since liquidation is concentrated around the 2-year maturities) and a need to meet liquidity requirements from redemption requests.

 
GoldCore's picture

Gold To Go Parabolic - Global Bond Market “Cliff” and "Armageddon" Cometh





In the mid 1970's ,“experts” warned that gold would fall as interest rates rose. The opposite happened and as interest rates rose, gold rose more than 8 times in 3 years and 4 months - from $100/oz in 1976 to $850/oz in January 1980 (see chart). History does not repeat, but it frequently rhymes ...

 
Tyler Durden's picture

5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives





When is the U.S. banking system going to crash? We can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives.

 
Tyler Durden's picture

Meanwhile, Here's What The "Super-Rich" Are Rushing To Buy





If you said shares of BABA, you'd be wrong. According to the Telegraph, the exodus out of paper wealth and into hard assets is reaching a fever pitch as the "super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts." The numbers cited by the paper are impressive: the number of 12.5kg gold bars being bought by wealthy customers has increased 243% so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost. "These gold bars are usually stored in the vaults of central banks and are the same ones you see in the film 'The Italian Job'," added David Cousins, bullion executive from London based ATS Bullion.

 
Tyler Durden's picture

How RenTec Made More Than $34 Billion In Profits Since 1998: "Fictional Derivatives"





From 1998 to 2013, Barclays and Deutsche Bank sold 199 basket options to hedge funds which used them to conduct more than $100 billion in trades. The subcommittee focused on options involving two of the largest basket option users, Renaissance Technology Corp. LLC (“RenTec”) and George Weiss Associates. The hedge funds often exercised the options shortly after the one-year mark and claimed the trading profits were eligible for the lower income tax rate that applies to long-term capital gains on assets held for at least a year. RenTec claimed it could treat the trading profits as long term gains, even though it executed an average of 26 to 39 million trades per year and held many positions for mere seconds. Data provided by the participants indicates that basket options produced about $34 billion in trading profits for RenTec alone, and more than $1 billion in financing and trading fees for the two banks.

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