• Tim Knight from...
    10/06/2015 - 17:03
    As we head into another earnings season, the bulls better pray to whatever pagan gods they worship that company after company magically defy the downturn that the economy is quite obviously entering.

Swiss Franc

Tyler Durden's picture

The Swiss Franc Is Plunging After SNB Comments

Following comments from the Swiss National Bank, reducing the group of sight deposit account holders that are exempt from negative interest rates, has sent Swissy tumbling...

Marc To Market's picture

Dollar Bulls Bend, but Don't Break

After trending sharply higher in recent months, the US dollar has entered a consolidative range against most of the major currencies.

Reggie Middleton's picture

"Fu$k the Fundamentals!": Negative Rates In EU Will Absolutely Wreck the Very System the ECB Sought to Save

The dude that called the Pan-European Sovereign Debt Crisis in 2010 is making it clear that the ECB is playing with fire, but will never admit it's getting burned.

Marc To Market's picture

Can't Keep a Good Buck Down

The US dollar has been even stronger than this bull thought let alone the perma-bears.  Here's why,  

Marc To Market's picture

US Dollar Correction Continues

Even before the disappointing US jobs data, we anticipated a downside correction in the dollar after a sharp advance in Q1.   

Tyler Durden's picture

Frontrunning: April 2

  • Samaras Says He’d Join Alliance to Keep Greece in Euro (BBG)
  • Tensions with Warren camp could loom over Clinton campaign (Reuters)
  • Ackman Report on Herbalife in China Figures in Probe (WSJ)
  • Al Shabaab storms Kenyan university, 14 reported killed (Reuters)
  • Iraq’s Four-Mile Line of Supertankers Fuels Shipping-Rates Surge (BBG)
  • Menendez's fate could sharpen Republicans' edge in Senate (Reuters)
  • IRS Chief Chides Ted Cruz Over 'Abolish the IRS' Mantra (BBG)
  • Yemen Houthi fighters backed by tanks reach central Aden (Reuters)
GoldCore's picture

Gold Flat In Quarter In Dollars But 11% and 5% Higher In Euro and Pounds

Silver surges 6.5% in dollars and 19% and 12% in euros and pounds *Oil and most commodities declined on economic concerns in the quarter (see table)  *U.S. stocks eked out minor gains to new record highs and look toppy *Gold performance impressive given strength of dollar and equities, oil collapse and negative sentiment

Tyler Durden's picture

OECD Economic Review Chair Warns, Central Bankers "Are Doing More Harm Than Good, Policy Must Be Reversed"

"I fear that central bankers may have been inadvertently drawn into what they are currently doing... [QE] won't work and may have many undesired side effects that will build up over time. Many of the central bankers at Davos this year said explicitly that they were only buying time for governments to act but, seven years into the crisis, it already seems we have been waiting forever...  the effectiveness of monetary policy in terms of stimulating aggregate demand goes down with time, because you're constantly bringing spending forward from the future...  Logically, at this point, central bankers should say, "We are doing more harm than good. This policy must be reversed." But I don't see anybody actually doing it."

Tyler Durden's picture

Euro Basis Swaps Keep Diving

While the euro itself has recovered a bit from its worst levels in recent sessions, euro basis swaps have fallen deeper into negative territory on par with the epic nosedive of 2011. We are not quite sure what the move means this time around, since there is no obvious crisis situation – not yet, anyway. A negative FX basis usually indicates some sort of concern over the banking system’s creditworthiness and has historically been associated with euro area banks experiencing problems in obtaining dollar funding. This time, the move in basis swaps is happening “quietly”, as there are no reports in the media indicating that anything might be amiss. Still, something is apparently amiss...

Tyler Durden's picture

When The World's Reserve Currency Flash Crashed: "I Haven’t Seen Anything Like It Since The Financial Crisis’

On Wednesday afternoon, just after the close of the market, the US Dollar, the world's reserve currency flash crashed. “I haven’t seen anything like it since the financial crisis,” said Paul Lambert, head of currency at Insight Investment, which manages $480 billion of assets. For a few minutes on Wednesday, the lack of dollar buyers caused a short-term freeze in electronic trading platforms, according to a New York-based trader at a major currency-dealing bank. “There was a lot of shouting on the desk, a lot of nervousness,” the trader said.

Tyler Durden's picture

Calm Ahead Of Today's Quad-Witching But Vol Surge Ahead

Quad-witching days are volatile on normal days, so in an environment of virtually zero liquidity, in which the market careens from one extreme to another simply based on whether the Fed utters one single word, in which volatility across asset classes is soaring, and in which it is all about igniting algo momentum, today's quadruple withicng should be memorable, which is good since there is virtually no macro data today to speak of. 

Capitalist Exploits's picture

The Anatomy of a Carry Trade Bubble

Bubbles arise if the price far exceeds the asset’s fundamental value, to the point that no plausible future income scenario can justify the price

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