• Marc To Market
    08/29/2015 - 10:18
    Dollar recovered from the exaggerated panic at the start of last week.  Outlook is still constructive.  Here is an overview of the technical condition of currencies, bonds, oil , and S&...

Smart Money

Tyler Durden's picture

From Yellen Put To Yellen Massacre





Yellen has created a narrative about the US economy, especially the (un)employment rate, and with the narrative is now firmly in place, Yellen and her stooges can claim they have no choice but to hike In short, Janet Yellen will go down into history as the person responsible for what may be the biggest economic crash ever, or at least delivering the final punch of the way into it, a crash that will make the rich banks even much richer. And there is not one iota of coincidence in there. Yellen works for those banks. The Fed only ever held investors’ hands because that worked out well for Wall Street. And now that’s over. Y’all are on the same side of the same trade, and there’s no profit for Wall Street that way.

 
Tyler Durden's picture

The Bubble Is Complete: 'Smart Money' Buys Into Bespoke Tranche "Opportunity" (Again)





Single-name CDS performance suggests investors are buying the "opportunity" Citi and Goldman are selling, providing further proof that we truly will never learn.

 
Tyler Durden's picture

Where The Hedge Fund Herd Was Parked Last Week: The Most Long And Short Net Specs





Hedge funds are still useful for one thing: observing where the fast money herd is parked, and doing precisely the opposite in advance of the herd dispersing. Because in a market as illiquid as this one, any and all fast, sudden moves by even the smallest group of traders results in dramatic price movement outliers.

 
Tyler Durden's picture

Meet Landlord Loans: You Too Can Be A Real Estate Speculator





"Three big private equity firms — the Blackstone Group, Colony Capital and Cerberus Capital Management — are betting that so-called landlord loans to small and midsize investors will become the next big opportunity to profit from the rebound in the United States housing market. The private equity firms are providing financing indirectly to hundreds of real estate funds buying single-family homes, something that until recently was not widely available."

 
Tyler Durden's picture

Grant Williams: Why The Smart Money Is So Nervous Now





"If you drop anybody into any momentous period in history, it’s really tough to perceive it at the time. It’s only when you look back on these things with the benefit of hindsight that you really see how historic they really are. But for many people right now who can forget the narrative and can forget what they're being told by various interested parties, if you can stand back far enough and take a practical look at what’s happening, I think it’s much easier to see certainly how far from normality things are today. "

 
GoldCore's picture

Gold Holdings of Eurozone Rise to 10,792 Tonnes – ECB’s “Reserve of Safety” Accumulated





It may signal that the ECB and Eurozone are set to embark on a gold accumulation programme. More likely, it is simply a way to bolster confidence in the euro due to increasing doubts about the viability of the single currency.

 
Tyler Durden's picture

"The Smart Money Is Selling, Not Buying" Goldman Warns With Valuations In The "99th Percentile"





"The median stock sports a P/E and EV/EBITDA of 18.0x and 11.0x, respectively. These valuations rank in the 99th percentile of both P/E and EV/EBITDA multiples since 1976.  The proverbial “smart money” is selling, not buying. Completed private equity sales through M&A and via follow-on offerings have both surged to record levels measured by both number of deals and by transaction value. A total of 350 follow-on sales by private equity firms were completed in 2013 and 2014, a 70% jump from the 210 transactions completed in 2011 and 2012."

 
Tyler Durden's picture

Where The Greeks Are Hiding Their Cash





While today surprised some with its lack of images of Greeks standing in line furiously pulling cash from bank ATMs, as Bloomberg reports, Greeks are anxiously stashing cash in the most unusual places...

 
Sprott Money's picture

Greek Election Results Worry The Bankers





It becomes easier and easier to translate the propaganda of the One Bank (delivered by its messengers in the Corporate media) because the patterns of behavior of this crime syndicate continue to become more blatant/obvious.

 

 

The One Bank does not want to see any ‘defections’ amongst the member-states of the EU (i.e. any splintering of this totalitarian entity). The obvious reason for this is that the EU has morphed into a monetary straitjacket, as a single banking entity (the ECB) controls the printing presses of all EU states. To grasp the significance of this; we need merely refer back to the words of Mayer Amschel Rothschild (1744 – 1812), the original patriarch of the Rothschild clan, and architect of the One Bank.

 
Tyler Durden's picture

3 Things - Fed Mistake, ECB QE, Housing





It is my expectation, unless these deflationary trends reverse course in very short order, that if the Fed raises rates it will invoke a fairly negative response from both the markets and economy.  However, I also believe that the Fed understands that we are closer to the next economic recession than not.  For the Federal Reserve, the worst case scenario is being caught with rates at the "zero bound" when that occurs. For this reason, while raising rates will likely spark a potential recession and market correction, from the Fed’s perspective this might be the “lesser of two evils.”

 
GoldCore's picture

Currency Wars - Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data





Given that Russia perceives itself to be under financial and economic attack from the West, there is the possibility that they are accumulating more gold than they are declaring officially to the IMF.

De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up by GoldCore, that the bank had increased its gold holdings for the first time in sixteen years. IMF data had shown that the Dutch had increased their holdings to 622.08 tonnes.

 
Tyler Durden's picture

These Are The Two Most Crowded Trades As We Enter 2015





For all those who are long the USD and short the 10Y, good luck because everyone else is too...

 
Tyler Durden's picture

Today's Markets Are "A Lesson In Willful Ignorance"





Within the last 90 days there has been more convoluted messaging coming from the financial media, the main stream, as well as academia than we can remember. The more one looks or tries to find relevant, useful, actionable insights – the more they get conjecture. Personally we’ll take our chances with not gambling at all or looking to any of the so-called “experts” for clues. It keeps becoming abundantly more clear by the day: without the “Chair” behind the curtain. OZ is more attainable than following the road to financial freedom these people want to point out.

 
Tyler Durden's picture

Why Russia’s Unfazed By Falling Oil Prices





Oil is not quite as powerful a weapon against modern-day Russia as one might think.

 
Tyler Durden's picture

Scorching 30 Year Auction Sees Surge Of Indirect, Direct Bidders; Dealer Take Down Lowest On Record





Once again, following a strong 10 Year auction, today's 30 Year reopening of CUSIP RJ9 was an absolute stunner, and with the When Issued trading at 2.875%, the high yield was a very much scorching 2.848%, stopping through nearly 3 bps through the WI, and the lowest 30 Year auction yield since November 2012. The reason for this impressive surge in last minute interest: a record low takedown by Dealers who got just 25.9% of the auction as they were pushed out by the other two bidding groups. Sure enough, there was an absolute scramble by Indirects (49.8%) and Directs (24.3%) both of which received, logically, a record high takedown for a 30 Year.  And finally with the Bid to Cover soaring to 2.762, this was the highest since January of 2013.

 
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