Yen
Recent Market Action Summarized In Four Words: "Institutions Selling, Retail Buying"
Submitted by Tyler Durden on 11/17/2015 13:09 -0500According to Bank of America, the smart money is taking advantage of this latest rebound in stocks to sell to who else: the traditionally biggest sucker in the room - retail investors.
Global Stocks Soar As Dollar Spot Index Hits Record High; Oil Declines
Submitted by Tyler Durden on 11/17/2015 06:57 -0500Who would have thought terrorism is so good for stocks.
QE and ZIRP Failed... Will a Cash Ban Succeed?
Submitted by Phoenix Capital Research on 11/16/2015 10:02 -0500Before it’s all said and done, the Fed will likely push to either implement a carry tax on physical cash OR ban physical cash entirely.
Stocks Jump On Hope For More Central Bank Intervention After Japan's Quintuple Recession, Syrian Strikes
Submitted by Tyler Durden on 11/16/2015 07:03 -0500- Belgium
- Bond
- British Pound
- Central Banks
- China
- Consumer Confidence
- Consumer Sentiment
- Copper
- CPI
- Crude
- Crude Oil
- Eurozone
- Flight to Safety
- Foreclosures
- France
- Germany
- goldman sachs
- Goldman Sachs
- headlines
- Housing Market
- Housing Starts
- Italy
- Japan
- Jim Reid
- Leading Economic Indicators
- Market Manipulation
- Middle East
- Monetary Policy
- NAHB
- Neo-Keynesian
- Nikkei
- North Korea
- Philly Fed
- Recession
- Trade Balance
- Turkey
- Volatility
- Yen
As so often happens in these upside down days, was the best thing that could happen to the market, because another economic slowdown means the BOJ, even without sellers of JGBs, will have no choice but to expand its "stimulus" program (the same one that led Japan to its current predicament of course) and buy up if not government bonds, then corporate bonds, more ETFs (of which it already own 50%) and ultimately stocks. Because there is nothing better for the richest asset owners than total economic collapse.
IMF Greenlights Addition Of Chinese Yuan To SDR Basket: Wall Street Responds
Submitted by Tyler Durden on 11/15/2015 08:53 -0500While the world was following the tragic events unfolding on Friday night in France where hundreds of innocent civilians were killed or injured, an important economic development took place at the IMF, whose staff and head Christine Lagarde, officially greenlighted the acceptance of China's currency - the Renminbi, or Yuan - into the IMF's foreign exchange basket, also known as the Special Drawing Rights. Here are the initial early responses by various Wall Street analysts.
As Q3 Earnings Season Winds Down, A Summary Of Where We Stand And The 4 Main Themes From Conference Calls
Submitted by Tyler Durden on 11/09/2015 20:55 -0500With the third quarter earnings season almost over, and 90% of companies having reported, here is a quick look at where we stand and what has emerged as the 4 main themes during earnings calls.
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves
Submitted by Tyler Durden on 11/09/2015 18:43 -0500While ridiculous, Venezuela's decision to liquidate some of its gold is perhaps understandable under the circumstances: Venezulea relies on crude oil for 95% of its export revenue, and with prices refusing to rebound, the only question is when do all those CDS which price in a Venezuela default finally get paid. What is even more understandable is what Venezuela should have done in the first place before dumping a fifth of its gold, but got to do eventually, namely raiding all of the IMF capital held under its name in a special SDR reserve account.
Another Abenomics Fail: New Survey Shows Inequality Growing In Japan
Submitted by Tyler Durden on 11/05/2015 21:00 -0500“Inequality seems to be widening. A sales-tax hike and price increases last year hit households hard. Abe hasn’t succeeded to bring benefits to most ordinary people.”
How China Broke The World's "Bubble Machine"
Submitted by Tyler Durden on 11/05/2015 16:30 -0500China can’t allow its industrial economy to sink without a fight. It will have to devalue the renminbi to try to get more market share for its exports. It still has 80% of its workers earning less than $10 a day. A lower renminbi will reduce real wages further and make China’s exports cheaper than ever. And then, what about the rest of the world? As the renminbi goes down, the dollar, yen, and euro will have to go up. Commodities – priced in dollars – will stay down. U.S. corporate profits will fall. The stock market “tape” will go down. Consumer prices, too, will remain low... or go negative. Deflation. Deflation. Deflation.
S&P Futures Spike Back Over 2100 On Central Banks, Yen Carry Levitation, China Bull Market
Submitted by Tyler Durden on 11/05/2015 06:57 -0500- Australia
- Bank of England
- Bitcoin
- BOE
- Boeing
- Bond
- Central Banks
- China
- Continuing Claims
- Copper
- Crude
- Crude Oil
- Equity Markets
- European Union
- Eurozone
- France
- Germany
- Gross Domestic Product
- High Yield
- India
- Initial Jobless Claims
- Italy
- Jana Partners
- Japan
- Jim Reid
- Kraft
- Monetary Policy
- Natural Gas
- Nikkei
- Reuters
- SocGen
- Testimony
- Time Warner
- Trade Deficit
- William Dudley
- Yen
- Yuan
For those eager to cut to the chase and curious if overnight we have had another standard USDJPY ramp levitating US equity futures on low volume, the answer is yes. And since the USDJPY carry was patient enough, it managed to trigger the 2100 ES stops and as of this moment the futures were comfortably on the politically-correct side of 2100.
Frontrunning: November 4
Submitted by Tyler Durden on 11/04/2015 07:41 -0500- Euro zone growth weak in October, China services rally (Reuters)
- Stocks Rise With European Bonds on Stimulus Outlook; Euro Falls (BBG)
- VW Sinks Deeper Into Crisis as Scandal Spreads to More Cars (BBG)
- Republicans ask IRS to audit Clinton charity's finances (Reuters)
- PBOC Inadvertently Boosts Stocks With Dated Zhou Comments (BBG)
- As China’s Economy Slows, Consumers Pick Up Some of the Slack (WSJ)
- Plane crashes in South Sudan, witnesses say dozens killed (Reuters)
Global Rally Continues After PBOC "Unintentionally" Sparks Market Surge With Stale News, Largest 2015 IPO Prices
Submitted by Tyler Durden on 11/04/2015 06:59 -0500- Bank of England
- BOE
- Bond
- Brazil
- Central Banks
- China
- Copper
- Crude
- Crude Oil
- default
- Equity Markets
- Eurozone
- Fed Fund Futures
- Financial Regulation
- fixed
- France
- Germany
- Glencore
- Gold Spot
- headlines
- Hong Kong
- India
- Italy
- Janet Yellen
- Japan
- Jim Reid
- Markit
- Monetary Policy
- NHTSA
- Nikkei
- Non-manufacturing ISM
- Ohio
- Porsche
- Quantitative Easing
- RANSquawk
- recovery
- Shenzhen
- Standard Chartered
- Time Warner
- Trade Balance
- Volkswagen
- Yen
- Yuan
The most entertaining overnight story has to do with the latest farcical development in the Chinese "market" when just after open, it was reported that PBOC Governor Zhou said a trading link with Shenzhen will start this year which promptly sent all Chinese brokerages soaring, and the Shanghai Composite jumped over 3%. And then, out of the blue, the PBOC said the undated comments were actually as of May. As Bloomberg put it, "China’s central bank unintentionally sparked a surge in the nation’s stock market by publishing five-month-old comments from governor Zhou Xiaochuan that said a link between exchanges in Shenzhen and Hong Kong would start in 2015."
Peter Schiff On QE's Creeping Communism: Washington Joins Tokyo On The Road To Leningrad
Submitted by Tyler Durden on 11/03/2015 19:15 -0500How Beijing & The West Work Together To Manipulate The Global Currency War
Submitted by Tyler Durden on 11/03/2015 18:25 -0500If it smells like a rat it probably is a rat, and so it is with respect to these deals by collusion between China and Western governments, and their chosen corporate protégés, whether on currency or trade or investment matters. This is all an exercise in some combination of crony capitalism (with cronies on both sides!) and diplomacy by stealth. The gains and gainers are deliberately kept opaque. The losers are much less evident than the gainers, on whichever side of the fence, but principle and practice tells us that the total losses are much larger than the gains.
Hugh Hendry: "Today We Would Advise You That You Don't Panic!"
Submitted by Tyler Durden on 11/03/2015 11:28 -0500"It is ironic that we are perhaps best known for advising “that you panic”. However, if you are anxious at the wrong time it can prove very painful. Today, we would advise that you don’t panic!
... by withdrawing the “Greenspan put” and using their asset purchase schemes to eviscerate any notion of value, the authorities have paradoxically created a safer yet more paranoid market."
- Hugh Hendry



