Reuters

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U.S. Mint Gold Coin Sales Near 60,000 - "Islamic State, Ebola, Putin, Ukraine" and Swiss Gold Initiative





Smart money is willing to pay a small premium to own segregated and allocated coins and bars rather than have the exposure of an ETF or digital gold platform ... Prudent diversification into physical coins and bars will again reward those who take a long term view.

 
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US Taxpayers Pay For SEC To Arrange Early Release Of Data To HFTs





Could we have imagined anything more far-fetched and unlikely as this practice by the SEC itself?  We’ll answer this question. No.

 
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The Schizomedia Does It Again





 
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Frontrunning: October 29





  • Fed set to end one crisis chapter even as global risks rise (Reuters)... you mean, for the third time?
  • Insider-Trading Probe Focuses on Medicare Agency (WSJ)
  • He's sorry: Rajoy Apologizes as New Wave of Graft Allegations Hits Spain (BBG)
  • China could 'punish' Hong Kong over protests, says ex-HK central bank chief (Reuters)
  • Dubai Insists the Boom is Not a Bubble This Time Around (BBG)
  • Bank-Data Sharing Accord Expands Push to Find Tax Cheats (BBG)
  • Deutsche Bank Sinks to Third-Quarter Loss on Legal Costs (BBG)
  • Kim Jong Un Executes 10 Officials for Watching Soap Operas (BBG)
  • French drugmaker Sanofi sacks CEO Viehbacher (Reuters)
 
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Angry Tim Cook Issues Veiled Threat At Retailers Shunning Apple Pay





Despite the mainstream media's effusive celebration of ApplePay - despite numerous payment systems and NFC devices alreadt existing and failing to achieve any paradigm shift - it appears Tim Cook has pushed his company into an area of competition he was not full prepared for. Seemingly expecting the world's retailers to embrace the 'unique' payment system, first Wal-Mart & Best Buy, then CVS and now Rite-Aid have all blocked ApplePay. While proclaiming the success of signing up over a million credit card users in the first 72 hours, Cook seemed ticked off at the retailers who blocked him, "it's a skirmish," he said, as Reuters reports, jabbing "merchants have different objectives sometimes. But in the long arc of time, you only are relevant as a retailer or merchant if your customers love you."

 
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Total War Over The Petrodollar





The conspiracy theories surrounding the death of Total SA’s chief executive, Christophe de Margerie, started the second the news broke of his death. One has better odds of being struck by lightning at an airport then a snow plow, or any other ground support vehicles hitting a plane and killing all inside the plane. Did this direct threat to the petrodollar make this “true friend of Russia” - as Putin called de Margerie - some very powerful and dangerous enemies amongst the power that be, whether in the French government, the EU, or the US? How many other Western executives who dare to help Russia bypass sanctions - and turn it into an energy powerhouse - will die under suspicious circumstances?

 
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China "Ghost Town Index" - Here Are China's 10 "Ghastliest" Cities





Who can forget China's ghost city of Ordos: back in late 2009, when the hollow shell behind China's torrid growth was first revealed to the world, the city near China's Mongolia border was cooler talk for weeks. Fast forward five years later, and Ordos is all but forgotten, having been eclipsed by a veritable army of much bigger "ghosts" that make up the "ghost town network" - a list of cities created by the China Investment Network, a business newspaper in Beijing, to determine which cities were the most ghostly. Below we present the 10 biggest ones.

 
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Frontrunning: October 28





  • CDC says returning Ebola medical workers should not be quarantined (Reuters)
  • Sweden’s central bank cuts rates to zero (FT)
  • Hacking Trail Leads to Russia, Experts Say (WSJ)
  • Discount-Hunting Shoppers Threaten Stores’ Holiday Cheer (BBG)
  • Apple CEO fires back as retailers block Pay (Reuters)
  • Repeat after us: all China data is fake - China Fake Invoice Evidence Mounts as HK Figures Diverge (BBG)
  • FX Traders’ Facebook Chats Said to Be Sought in EU Probe (BBG)
  • Euro Outflows at Record Pace as ECB Promotes Exodus (BBG)
  • Apple boosts R&D spending in new product hunt (FT)
 
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Stocks End Unch As ECB Rumor Trumps Quadruple Whammy Data Miss





Despite the best efforts of ECB QE rumor-mongering, US equities could do no better than end unch (though Trannies are no rallying on lower oil prices). The early tumble on a quadruple whammy of bad macro data (misses for Service PMI, Dallas Fed, Pending Home Sales and IFO) was ramped into the European close and beyond after Reuters dropped a QE-headline. The initial jump in stocks was ignored by bonds but once they recoupled, bonds, stocks, and JPY moved in sync for the rest of the day on low volumes and extremely low liquidity.Treasuries rallied from overnight weakness to close very modestly lower in yield. Early weakness in oil (under $80) was rapidly recovered as despite USD weakness (-0.2% on the day), gold, silver, and oil ended down modestly (and copper higher after the cornering news). VIX continues its path of ignoring recent equity exuberance ending the day modestly higher.

 
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Stocks Spike On Reuters' "ECB Does QE" Leak Du Jour





It never gets old... Stocks have spiked - leaving all other asset classes in the dust - as Reuters unleashes their latest rumor:

ECB STIMULUS MAY LACK DESIRED SCALE, QE AN OPTION ACCORDING TO SOURCES: REUTERS

Reuters adds that the ECB plan to buy private sector assets may fall short and pressure is likely to build for bolder action early next year. So to sum up - Reuters first leaks the possibility of Corporate bond QE.... we do the math showing it is idiotic... and now Reuters confirms its source was enitrely wrong; we were right, and ECB has to do what everyone though it would do anyway.

 
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NJ Governor Christie Folds, Un-Quarantines "Symptom-Free" Nurse After 24 Hours





In a sudden reversal, New Jersey Gov. Chris Christie said Monday that the state will release the quarantined American nurse who had been confined in a hospital isolation tent upon arrival from West Africa despite showing no signs of Ebola. As USA Today reports, Kaci Hickox, 33, was the first person pulled aside at Newark Airport on Friday under Christie's new strict mandatory quarantine-for-21-days rules. It appears, as Reuters reports, Christie got a tap on the shoulder as The White House has told states that have imposed mandatory quarantines for some travelers from Ebola-hit West Africa that the policy could impede the fight against the disease. Additionally,Hickox plans to sue.

 
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Frontrunning: October 27





  • White House questions new Ebola rules, nurse plans to sue (Reuters)
  • States stand firm on Ebola quarantines despite White House pressure (Reuters)
  • Rousseff Naming Brazil Finance Minister Key to Regain Trust (BBG)
  • Ukraine leader wins pro-West mandate but wary of Russia (Reuters)
  • Single Firm Holds More Than 50% of Copper in LME Warehouses (WSJ)
  • Treasury Liquidity Squeeze Seen as Dealer Shut Off Machine (BBG)
  • CVS follows Rite-Aid, shuts off Apple Pay (USAToday)
  • Oil Speculators Bet Wrong as Rebound Proves Fleeting (BBG)
  • Draghi Sets Stimulus Pace as ECB Reveals Covered-Bond Purchases (BBG)
  • German Ifo Business Confidence Drops for Sixth Month (BBG)
 
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The Chart That Crushes All Credibility Of The ECB's Latest Stress Test





One can't make this up: "The scenario of deflation is not there because indeed we don't consider that deflation is going to happen." - Vítor Constâncio, Vice-President of the ECB

 
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As Ebola Cases Top 10,000, Obama Says America Can "Beat" The Deadly Virus





Following the sad death of its first Ebola case, Mali's President has said he will not close his nation's border with Guinea, because "the incident showed it was impossible to completely seal his country." Mali's neighbors, on the other hand, are shutting borders, as Mauritania tries not to become Africa's 7th Ebola-infected country. This brings, according to The WHO, the number of cases of Ebola to 10,141 with 4,922 dead (so far). Americans should not worry though, for the 2nd week in a row, President Obama devoted his address to the subject of Ebola, explaining "basic facts" of how difficult it is to catch (despite the need to enforce mandatory quarantine for healthcare workers) and in 'USA USA USA'-esque language, explains how "Americans can beat" the deadly virus.

 
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On Europe (Or The 28 Stooges)





Europe is fast turning into a freak comedy show. Very fast. Or maybe we should say it’s always been one, and it’s just that the Larry, Curly and Moe moves are only now coming out in droves. Or maybe, what do I know, we’re just starting to understand how much talent for farce and slapstick the boys from Brussels have always had. Someone finish off that inane union before it starts to do real serious harm. Because it will.

 
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