Private Equity

Frontrunning: October 6

  • Millions flee as Southeast U.S. braces for Hurricane Matthew (Reuters)
  • Hurricane Matthew Is a $15 Billion Threat Headed to Florida (BBG)
  • Three Risks to the Global Financial System as Debt Hits Record Levels (WSJ)
  • Deutsche Bank’s $14 Billion Scare (BBG)
  • Deutsche Bank Mismarked 37 Deals Like Paschi’s, Audit Says (BBG)
  • Monte Paschi Said to Plan Debt-Swap Deadline Before Italian Poll (BBG)

European, EM Stocks Slide On ECB Taper Concerns; US Futures Flat

With China on holiday, overnight sessions remain relatively quiet: at this moment, S&P500 futures are little changed as European stocks fall for first day in seven, on yesterday's concern that the ECB is moving toward tightening monetary policy; Asian indices rose slightly for third day. WTI climbs to $49.40, the highest since June 30 after yesterday's surprisingly large API crude draw report.

Frontrunning: October 3

  • Donald Trump’s Tax Numbers Sharpen Focus on Treatment of Losses (WSJ)
  • Qatari funds nurse €1bn loss on Deutsche Bank stake (Telegraph)
  • Colombian Voters Reject Peace Deal With FARC Rebels (WSJ)
  • Hungarians vote to reject migrant quotas, but turnout too low to be valid (Reuters)
  • Clinton expected to hit Wells Fargo in speech on 'bad corporate actors' (Reuters)

Futures Flat With Germany Closed; Sterling Slides On "Hard Brexit" Fears

With China, German and South Korea closed for holiday, it has been a relatively quiet day in overnight equity trading, especially in the one stock everyone is keeping a close eye on, Deutsche Bank, whose ADRs are trading fractionally lower, down under 1% in premarket trading. Cable plunged on "Hard Brexit" fears sending the FTSE100 to fresh 16 month highs.

Frontrunning: September 30

  • Asia stocks slide as Deutsche sours mood, oil pulls back (Reuters)
  • Deutsche Bank Drops to Record as Some Clients Reduce Exposure (BBG)
  • Deutsche CEO tries to reassure staff as shares plunge (Reuters)
  • Oil falls as investors cash in on OPEC deal rally, dollar rises (Reuters)
  • Three Chinese fishermen killed in confrontation with South Korea coastguard (Reuters)

Wall Street Goes "All In" For Hillary Clinton

The U.S. economy is totally rigged. While in the past, you were expected to take on a great deal of risk to earn an outsized return, most large returns these days have been gamed to such and extent that they amount to riskless schemes through which the U.S. taxpayer funnels money upward to a handful of oligarchs. Hillary will unquestionably keep this system in place. Trump, we just don’t know. This is why the real players Wall Street want Hillary. They want the riskless pillaging of society to continue uninterrupted. As usual, money talks.

Are You Ready For The Next Recession?

The good news for economic prosperity and freedom is that the failure of the grand experimenters next time to ignite asset price inflation early on in any incipient economic upturn might lead to their dismissal (if not effected earlier!).

How Low Oil Prices Failed To Stimulate The Economy

The 2014 plunge in oil prices was initially hoped to provide stimulus to the U.S. economy, with the Fed arguing that the average household would save $700 in fuel costs. A new paper from the Brookings Institution suggests otherwise.