Reuters

"No Panic" - Why For Once, It Makes Sense To Watch What Isn’t Moving

Markets are certainly on the move. For the first time in a long time, traders are relearning that location really does matter -- if you want to survive the trade. Suddenly, “extend duration” isn’t the answer to every question. Especially when the greater fool takes a holiday. 

US To Provide Israel With Record $38 Billion In Military Aid

While the US relationship with Saudi Arabia can be described, perhaps courtesy of the latter's donations to the Clinton campaign, as one of preferential treatment when it comes to arms deals, the relationship with Israel is even simpler. As Reuters reports, the US and Israel reached an agreement on a record new package of at least $38 billion in U.S. military aid to be supplied to Israel over the next decade.

Frontrunning: September 14

  • Bayer wins over Monsanto with improved $66 billion bid (Reuters)
  • Yen trims gains as doubts creep in over BOJ easing (Reuters)
  • BOJ to make negative rates centerpiece of future easing: sources (Reuters)
  • Stocks Halt Selloff in Europe as Commodities Gains Lift Miners (BBG)
  • Donald Trump, New Team Recast His TV Image (WSJ)
  • Hanjin Brings One of World's Busiest Shipping Terminals Close to Standstill (BBG)
GoldCore's picture

 It’s been estimated that the total worldwide value of such contracts equals 150 times the amount of gold in existence in the world  ... Uh-oh   ...  This is why it’s imperative that you purchase only physical, allocated gold.


Step Aside London Whale: Goldman Is Now Using Retail Deposits To Fund Investments

Goldman has been using the proceeds from the new deposits to directly fund speculative activity such as trading and investments, as well as more conventional activity such as creating looans. Goldman Sachs built up its consumer bank, led by 40-year-old Goldman partner and credit trading veteran Gerald Ouderkirk, whose job is to use consumer deposits and other types of funding for trades, investments and loans.

After Public Outcry Over $125 Million Tolstedt Bonus, Wells Fargo Will End Sales Goals For Retail Bankers

As a result of the righteous outrage following news that Wells Fargo rewarded Carrie Tolstedt, the head of the group that was recently exposed as creating some 2 million fake credit card and bank accounts so it could churn late fees, and was in charge of what the bank's employees called "sandbagging", was leaving the bank with a $125 million package, this morning a panicked Wells Fargo said that it would eliminate all product sales goals in retail banking, starting next year.

Frontrunning: September 13

  • IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017 (BBG)
  • Futures dip with oil as investors assess rate hike chances (Reuters)
  • Hilsenrath - Divided Federal Reserve Is Inclined to Stand Pat (WSJ)
  • 'I didn't think it was a big deal,' Clinton says of pneumonia bout (Reuters)
  • Clinton's Lead Narrows Among Independents, Voters Nationally (NBC)
  • Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG)

Oil Slides After IEA Turns Pessimistic, Sees Oversupply Extending On "Dramatic Deceleration" In Crude Demand

Earlier today the IEA revealed a much more pessimistic outlook on the state of the oil market, predicting that a sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied into late 2017. The reason: a "dramatic deceleration in China and India” this quarter coupled with “vanishing growth” in developed economies.

Syrian Army Claims It Shot Down Israeli Warplane, Drone; Israel Denies

Just hours after the hard-fought Syrian ceasefire deal went into effect after sunset on Monday - a deal which even Washington has expressed uncertainty whether it will hold or not - moments ago the tentative peace may have been broken when a new counterparty emerged, after the Syrian army claimed it had shot down an Israeli warplane and drone flying over its territory, following an Israeli attack on a Syrian army position in southern Syria, state media reported.

Track All Of Bankrupt Hanjin's "Ghost Ships" In Real Time

Readers who wish to track the fate of Hanjin's "ghost ships" in real time - as it looks likely that many of them will remain stuck in legal and financial limbo for a long time - can do so courtesy of the following Platt's interactive map.

Duterte Demands US Withdraw Special Forces From Southern Philippines: "They Have To Go"

Duterte said special forces now training Filipino troops were high-value targets for the Islamic State-linked Abu Sayyaf as counter-insurgency operations intensify. These special forces, they have to go," Duterte said in a speech during an oath-taking ceremony for new officials. "I do not want a rift with America. But they have to go." He added: "Americans, they will really kill them, they will try to kidnap them to get ransom."

GoldCore's picture

Gold consolidated after the gains of last week when gold rose 0.25% from $1324/oz to $1328.80/oz. Indeed, it was gold’s second consecutive weekly higher close which is bullish from a technical perspective. Markets being sentiment and momentum driven this could mean the recent correction is over as technical driven traders are likely to take signal from this and go long gold.

Frontrunning: September 12

  • Selloff gathers pace as stimulus pullback fears deepen (Reuters)
  • Clinton's bout of pneumonia raises worries for Democrats (Reuters)
  • Google's Self-Driving Car Project Is Losing Out to Rivals (BBG)
  • OPEC sees more oil supply from rivals, implying larger 2017 surplus (Reuters)
  • Oil falls as U.S. drills more (Reuters)