• rcwhalen
    11/25/2015 - 08:58
    "This is legal?" Stephanie Ruhle on CDS after watching "The Big Short" (Bloomberg TV) 


Tyler Durden's picture

The Greek "Choice": Hand Over Sovereignty Or Take Five Year Euro "Time Out"

For those who missed today's festivities in Brussels, here is the 30,000 foot summary: Europe has given Greece a "choice": hand over sovereignty to Germany Europe or undergo a 5 year Grexit "time out", which is a polite euphemism for get the hell out.

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EUR Indicated 100 Pips Lower After Tsipras "Mental Waterboarding"

After ramping gloriously on Thursday and Friday, basking in the warm after-glow of an assured done-deal, the FX market appears to be deja-vu-ing all over again as EU leaders throw up all over Greek proposals. EURUSD is indicated 1.1085/1.1056 in pre-market - down around 100 pips from the Friday close - following what one official called "extensive mental waterboarding" of Greek PM Alexis Tsipras.

Tyler Durden's picture

Eurogroup Officially Threatens Greece With 5 Year Grexit "Time Out"

"In case no agreement could be reached, Greece should be offered swift negotiations on a time-out from the euro area with possible debt restructuring."

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Oil Price Plunge Reignites Fears for Indebted Shale Companies

“The energy sector of the high-yield market continues to be a silo of misery... If we stay near these levels, marginal high-cost producers won’t be able to survive.”

Tyler Durden's picture

BRICS Bank Officially Launches As Sun Sets On US Hegemony

The long-awaited BRICS bank has officially launched, marking yet another milestone on the road to global de-dollarization and lending further credence to the notion that the sun is finally setting on the US-dominated multilateral institutions that have defined the post-war world and served to underwrite six decades of dollar dominance.  

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Ex-Im Bank Bites The Dust Today - Good Riddance To A Crony Capitalist Heist

The Export-Import Bank died last night when its charter expired. After 81 years, what is commonly known as Boeing’s Bank is headed toward Washington’s trash bin. When Congress returns it could revive Ex-Im, which primarily subsidizes big business exports. But a proper burial for what Barack Obama once called “corporate welfare” would save Americans money, reduce economic injustice, and promote economic growth. Ex-Im’s closure is a very rare victory for the good guys in Washington. Crony capitalism is running rampant in America, undermining confidence in a market economy.

Tyler Durden's picture

The Emergence Of Orwellian Newspeak And The Death Of Free Speech

How do you change the way people think? You start by changing the words they use.

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Frontrunning: June 26

  • Chinese Stock Plunge Leaves State Media Speechless (BBG)
  • China’s Market Selloff Accelerates (WSJ)
  • Any Deal on New Greek Bailout Funds Put Off Until Weekend (WSJ)
  • ECB keeps ELA funding limit for Greece unchanged for third day in a row (Reuters)
  • Impoverished Greek City Stands With Alexis Tsipras (WSJ)
  • Why It Won’t Be a Default If Greece Misses IMF Payment Next Week (BBG)
  • Valeant Makes Takeover Approach to Zoetis (WSJ) - or how Ackman assures himself another good T+3 quarter
  • Obamacare ruling puts Supreme Court on hot seat in U.S. presidential race (Reuters)
Tyler Durden's picture

Stocks Tumble After Eurogroup Meeting Suspended With "No Deal In Sight"

Just when you think we have finally hit "peak farce" this happens:


GoldCore's picture

Doubts Over City of London's "Ageing Tech Systems” in Age of Cyber War

- Doubts over City of London’s “fintech” in age of cyber war - Thousands left in “financial limbo” after tech “error” - 600,000 RBS customer payments go "missing" in "system failure”

rcwhalen's picture

Michael Whalen: Why the Streaming Music Business is Broken

Time for the musicians to learn the lessons that the video guys in Hollywood learned from them...

Tyler Durden's picture

Minimum-Wage-Raising, Mysterious-Store-Shutting Wal-Mart Removes All Confederate Flag Merchandise From Stores

In the latest populist act of America's largest retailer, minimum-wage-raising, mysterious store-closing Wal-Mart has decided to remove all Confederate Flag merchandise from its stores. Apparently it will continue to stock handguns, rifles, crossbows, ammunition, and other land-of-the-free-to-choose merchandise.

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Frontrunning: June 22

  • Mood brightens after latest Greek offer to creditors (Reuters)
  • ECB's Nowotny - Greek banks have funding extension for today (Reuters)
  • Any Greece deal must match party manifesto, minister says (Reuters)
  • Greece says now up to lenders to move on an agreement (Reuters)
  • Greece sends wrong documents to monitors... Again (FT)
  • U.S. won't let Russia 'drag us back to the past': Pentagon chief (Reuters)
  • Belgium unblocks part of Russian diplomatic missions’ frozen accounts (Tass)
  • Fed Scoop Heralded Era of Closed Doors for $100,000 Newsletters (BBG)
Tyler Durden's picture

Don't Believe The Hype On U.S. Shale Growth

Rig counts went into free-fall after it became clear that OPEC was not interested in propping up the price of oil for the benefit of rapidly expanding shale oil producers. While that approach hurt OPEC’s income in the short term, it also immediately impacted rig counts in the shale oil fields. But - and here is the narrative - shale oil producers continue to make gains in production even as rig counts have been slashed because they are becoming more and more efficient.

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