I strongly suspect that Ms. Holmes' delusions that she's going to pull herself out of this mess will, at long last, be dismissed when the reaction she gets to this "3 for 1" offer is the sound of crickets.
During the so-called Chinese Banking Liquidity Crisis of 2013, the relative cost of funds for non-bank institutions spiked to 100bps. So, the fact that the 'shadow banking' liquidity premium has exploded to almost 250 points - by far a record - in the last few days should indicate just how stressed Chinese money markets are.
The near-record string of 10 consecutive Dow Industrials record highs, a streak not seen since early 1987, may be about to end if futures, which are currently trading -0.3% lower, fail to stage a rebound.
In an unexpected announcement, India’s central bank left borrowing costs unchanged for a second straight meeting, shifting its policy stance to neutral from accommodative, effectively signaling an end to easing cycle.
"All of this is being done just to stop a few people shorting the currency to reflect the fact that everyone can see that capital is flowing out and that fundamentals argue for a weaker yuan" - Rabobank
It was a night of painful fireworks for China bears, who experienced the overnight offshore Yuan deposit hitting a record 80%, while the USDCNH tumbled as low as 6.78, resulting in a 2.3% move in 2-days: the biggest such jump in the CNH on record.
It will probably not come as a big surprise that the head of Deutsche Bank’s global anti-financial crime unit, a post also known as the bank's top "crime fighter", plans to leave that position after just six months at the bank.
Following last night's trial ballon by the PBOC, when the PBOC hinted it was studying possible scenarios of capital outflows and is preparing contingency plans, the Offshore Yuan reacted accordingly, and soared by 0.9% to as high as 6.8950 per dollar as of 7:20pm in Hong Kong. That was the biggest increase on a closing basis since Jan. 11 last year.
When it comes to today's Fed decision, there is little doubt: a 25 bps rate hike, the first in 2016 and only the second since the financial crisis, is now assured: all 103 Bloomberg-surveyed economists expect a 25bp increase, and the market agrees pricing in a 100% probability of a rate hike. So what does matter? Here is a selection of sellside opinions, summarizing they key things to watch for in today's FOMC statement.
As part of the Deutsche Bank silver rigging settlement, the bank has provided "smoking gun" evidence and transcripts which show traders coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.
Deutsche Bank's settlement in the Gold and Silver Rigging trial has provided prosecutors with smoking gun evidence that implicates even more banks in the manipulation of Gold and Silver. And it opens the door for a new class of plaintiffs, Option Traders