Reuters

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The Disturbing Reasons Why The Bank Of Japan Stunned Everyone With Negative Rates





"... When stocks are falling this much, it's hard to justify not acting"

"... Davos - where he mingled with central bankers such as ECB President Mario Draghi and leading company executives - likely prompted him to pull the trigger"

 
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Weekend Reading: Mental Floss





The real enemy of investors is not these fairly routine 10 or 20% downturns. The real enemy is the bear market that is associated with a recession or crisis, the one that knocks your equity block down by 40 or 50%. And actually it isn’t even the depth that is the real enemy. For most investors the enemy is time.

 
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Russian-OPEC Production Cut Remains A Long Shot





Coordination on production cuts between OPEC and Russia has always been a long shot, and probably still remains an unlikely development. The big difference this time around, though, is Russia’s change in tone. Saudi Arabia had hinted at its willingness last year to undertake a 5 percent production cut if Russia did the same, but up until now Moscow never really took the idea seriously. However, don’t get too excited.

 
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Grenade Hurled At Refugee Shelter As 40% Of Germans Tell Merkel To Resign





It's all falling apart in Germany as frightened citizens load up on small arms and hurl grenades at migrant centers while at least 40% of the public now believes the "Iron Chancellor" should resign.

 
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Frontrunning: January 29





  • World shares heat up as Bank of Japan goes sub-zero (Reuters)
  • Stocks Rally With Bonds as BOJ Ends Grim January on High Note (BBG)
  • Japan Follows Europe Into Negative Interest Rate Territory (WSJ)
  • Decision On Oil Cut Only Possible If All Exporters Agree, Russian Energy Minister Says (BBG)
  • Trump overshadows Republican debate even as he sits it out (Reuters)
  • Trump skips debate, wins on social media (Reuters)
 
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Silver Market In Disarray After Benchmark Price Fix Manipulation





"Unfortunately, it is not [a mistake]... This could be the end of the fix. It took 14 minutes to find a fix – they obviously found a fix way off of the market."

 
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Saudi Arabia Hemorrhages $19.4 Billion In Reserves During December





Saudi Arabia - which was busy playing headline hockey with Russia this morning over a rumored 5% production cut proposal - is running out of money. Yes, we know, that sounds absurd. But believe it or not, the country whose monarch recently rented the entire Four Seasons hotel for a 48 hour stay in Washington DC, is in fact going broke. And at a fairly rapid clip.

 
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HSBC Halts Mortgage Options To Chinese Nationals Buying U.S. Real Estate





Europe’s biggest lender HSBC will no longer provide mortgages to some Chinese nationals who buy real estate in the United States, a policy change that comes as Beijing is battling to stem a swelling crowd of citizens trying to get money out of China. However, ass HSBC closes the door, the panicking Bank of Canada scrapped its C$1.25 million cap on mortgages to borrowers with no local credit history (to tap into surging demand for financing from wealthy immigrant buyers).

 
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Sweden To Deport 80,000 Refugees Amid Security Fears





Sweden, grappling with allegations of a police coverup related to an alleged wave of sexual assaults at a music festival and the violent death of a 22-year-old asylum center worker at the hands of a young migrant, will move to deport some 80,000 refugees this year. That's nearly half of the record 163,000 people who entered the country in 2015. 

 
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Oil Soars To 3 Week High On Saudi Production Cut Confusion; Iran Spoils The Party





IRAN WANTS TO RECOUP OIL MARKET SHARE AND IS A CHALLENGE IN ANY DEAL TO CUT OIL OUTPUT - OPEC SOURCES

Headline hockey continues in the energy complex as earlier confirmation of a pending OPEC meeting possible in February has seen more color added, via Reuters, that Saudi Arabia made a proposal that OPEC members cut production by a maximum of 5%. There remains confusion however as Bloomberg reports simply that Russian energy minister has said they "may discuss it," as opposed to being a specific proposal.

 
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Abenomics Architect Resigns Amid Corruption, Bribery Allegations





"I worked without sleep or rest. After Prime Minister Abe put my self at the helm of Abenomics, I put my life on the line for my national duty over the past three years."

 
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Frontrunning: January 28





  • Unease over Fed rate path dents European stocks (Reuters)
  • Global Stocks Pressured After Fed Statement (WSJ)
  • Japan's Economy Minister Amari to Resign Over Graft Scandal (BBG)
  • Authorities working to clear remaining protesters in Oregon occupation (Reuters)
  • China Sharpens Efforts to Halt Money Outflow (WSJ)
  • Eurozone January Economic Sentiment Falls Sharply, Hits 5-Mth Low (MNI)
 
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Showdown Imminent: FBI Sets Up Checkpoints Around Oregon Refuge





“I don't know what to tell you but if somebody saying 'peaceful resolution' comes in and points guns at me...”

 
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