recovery

Tyler Durden's picture

Who Will Suffer From A Leveraged Credit Shakeout?





Marty Fridson, CIO at Lehmann Livian Fridson Advisors, has been a leading figure in the high-yield bond market since it was known as the "junk bond" market — and he sees as much as $1.6 trillion in high-yield defaults coming in a surge he expects to begin soon... “And this is not based on an apocalyptic forecast,” he warns.

 
Tyler Durden's picture

The BoJ Jumps The Monetary Shark - Now The Machines, Madmen And Morons Are Raging





“Kuroda loves a surprise - Kuroda doesn’t care about common sense, all he cares about is meeting the price target,” Folks, look-out below.  As George W. Bush said in another context... this sucker is going down!

 
Tyler Durden's picture

"The Most Important Chart For Investors" Flashback, And Why USDJPY 120 Is Now Coming Fast





Back in late September, we posted what Albert Edwards thought at the time was "The Most Important Chart For Investors" which was quite simply, a chart of the USDJPY.  Considering the BOJ's overnight move, he was absolutely correct. So for all those who missed it, here it is again, because it explains not only where the Yen is headed next, but why, sadly, this could well be the end of Japan and the mirage of a recovery that has had everybody hypnotized for the past 6 years.

 
Tyler Durden's picture

5 Things To Ponder: "Spooky" Things





As faces are filled with chocolate on All Hallow's Eve, we thought this evening's reading list should maintain the focus of "scary" ponderances now that the Federal Reserve has ended their latest monetary iterations.

 
Tyler Durden's picture

Saxobank CIO Warns USDJPY Could Hit 135 On "One Trick Pony" BoJ Desperation





From a market perspective the move today was almost perfectly timed coming on the heels of a Federal Open Market Committee meeting which ended quantitative easing and expose the big difference on future monetary paths between the BoJ and the Fed. There is, however, a dark side to this big move.. telling a story of how central banks, even the desperate ones like BoJ, are and remain one-trick-pony institutions: "this is the final round – Japan was ALWAYS going to give it one more shot – now it happened."

 
Tyler Durden's picture

How Long Can The Top 10% Households Prop Up The "Recovery"?





The question of "recovery" really boils down to this: how much longer can the increasing debt of the bottom 90% and the wealth of the top 10% prop up the expansion?

 
Tyler Durden's picture

Where Is The "Low Gas Price Spending Spree": Consumer Spending Tumbles At Fastest Rate Since October 2009





Goodbye GDP hopes: Consumer Spending tumbled 0.2% against expectations of growing 0.1%, dropping at the fastest pace since October 2009. This is the biggest miss since Jan 2014 - in the middle of the PolarVortex. Did it snow in September, and whatever happened to that spending spree that lower gas prices were supposed to lead to? The spending decline was driven by a tumble in spending on both non-durable ($8.1 billion) and mostly durable goods ($26.4 billion). Also, what happened to that surge in consumer confidence - guess broke Americans can't monetize being "confident" about their rising wages just yet.

 
Tyler Durden's picture

Markets Explode Higher As Bank Of Japan Goes All-In-er; Increases QE To JPY 80 Trillion





UPDATE: Nikkei 225 +1100 points,  USDJPY +3 handles to 111.00 post-FOMC,

In a surprise move given all the recent congratulatory bullshit from Abe and Kuroda on breaking the back of Japan's deflation and bring about recovery (forgetting to mention record high misery index, surging bankruptcies and a crushed consumer), the Bank of Japan (by a 5-4 vote) raised its bond-buying program from JPY 70 trillion to 80 trillion... and triple its ETF buying to JPY 3 trillion. This move, on the heels of more confirmation of broader foreign asset purchases in Japan's GPIF sent USDJPY instantly gapping 1 big figure higher to 110.30 and Nikkei futures instantly rose 400 points. S&P futures are also surging. Gold and silver are tanking and TSY bonds are selling off.

 
Tyler Durden's picture

Jim Grant On Complexity: The Hidden Cost Of Central Bank Actions





Central banks are printing rules almost as fast as they’re printing money. The consequences of these fast-multiplying directives — complicated, long-winded, and sometimes self-contradictory — is one topic at hand. Manipulated interest rates is a second. Distortion and mispricing of stocks, bonds, and currencies is a third. Skipping to the conclusion of this essay, Jim Grant is worried: "The more they tried, the less they succeeded. The less they succeeded, the more they tried. There is no 'exit.'"

 
Tyler Durden's picture

BusinessWeek Wants YOU To Become A Keynesian Debt Slave





And then there is BusinessWeek, which quite to the contrary, is urging its readers in its cover story, ignore common sense, and do more of the same that has led the world to dead economic end it finds itself in currently. In fact, it is, in the words of NYT's Binyamin Appelbaum, calling the world governments to become the slaves of a defunct economist.  And spend, spend, spend, preferably on credit. Because, supposedly, this time the resulting crash from yet another debt-funded binge will be... different?

 
Tyler Durden's picture

Russian Ruble Soars Over 5% (Swings Most Since 1998) On Intervention, Rate-Hike Rumors





Having made new record lows for 7 days in a row, various technical triggers, short squeezes, and rumors of Central Bank intervention prompted the Russian Ruble to rally over 5%  - the biggest swing since 1998 as chatter of a very aggressive (greater than 50bp) rate-hike at tomorrow's meeting.

 
Tyler Durden's picture

Putting The Fallacy Of QE Into Perspective





"Remember, the Fed has injected into the market nearly 4 Trillion dollars. That’s $4,000,000,000,000.00. To put this into perspective... the equivalent in dollar amounts to have purchased 510 B-2 Stealth Bombers, 72 Nimitz Class Air Craft Carriers, 120 Ohio Class Submarines. and still have Two TRILLION or so left in my pocket left to spend." As far as what we have to show for all this spending at the end of QE this month? Who knows, but I do know – we didn’t even get a lousy T-shirt.

 
Sprout Money's picture

In Memoriam: Abenomics





Shinzo Abe has lost his magical touch as Japan's economy is nose-diving again...

 
Phoenix Capital Research's picture

The Fed is Absolutely Terrified of Something… What Is It?





For five years we’ve been told that the world was in recovery. If things are SO great… why is it that even a 10% correction in stocks triggers panic from the Fed?

 
 
Tyler Durden's picture

Mortgage Purchase Applications Plunge To 19-Year Lows





Presented with little comment.. because realistically what is there to say about a so-called 'housing recovery' when the volume of applications for home purchases is the lowest since August 1995. Keep believing that lower rates will support home prices... keep believing the Fed's QE worked... or face facts, this is not your mother's housing market any more...

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