Yen
Lashed To The Zero Bound - The Fed's Ship Of Fools
Submitted by Tyler Durden on 10/05/2015 12:20 -0500If you don’t think financial markets have been utterly destroyed by central bank intrusion then how can you explain Friday’s 460 Dow point reversal higher after the post-NFP low? It was pure machine rage triggered by another implied “lower for longer” Fed policy signal. In short, we are now in an exceedingly dangerous phase of the central bank end game. They continue to pour gasoline on the first of financial speculation, yet smugly insist all is clear.
Peak Manipulation: Resorting To Contradictory Headlines To Lift Stocks
Submitted by Tyler Durden on 10/05/2015 12:14 -0500When stocks absolutely and completely have to go up, there is only one thing for it: the spurious headline from Nikkei (aka the new owner of the Financial Times). It is 2am in Japan but still, after Thursday's headline that: BOJ IS SAID TO SEE LITTLE IMMEDIATE NEED FOR ADDING STIMULUS... It is now time for the diametrically opposite: BOJ MAY NEED TO EASE AGAIN WITH FED DELAY, NIKKEI SAYS. And sure enough, USDJPY jerks higher and US equities hit the day's highs.
Last Two Times this Happened, the US Was Falling into a Recession
Submitted by testosteronepit on 10/05/2015 09:01 -0500But what’s different this time?
The Perilous Misperception That Central Bankers Have Mitigated Market Risk
Submitted by Tyler Durden on 10/04/2015 20:00 -0500Never have markets carried so much risk. And never have markets been as vulnerable to an abrupt change in perceptions with regard to central banker competence, effectiveness and capabilities. At the minimum, global markets will function poorly, but risk is now high for a disorderly – Party Crashing - "run" on financial markets, as faith in central banking begins to wane.
Here Come The Money Helicopters!
Submitted by Tyler Durden on 10/04/2015 15:30 -0500Japan has a nigh endless supply of insane Keynesians doing the same thing over and over and over again. But support is now growing around the world for the next round ofspending to be funded by “People’s QE.” The idea behind “People’s QE” is that central banks would directly fund government spending... and even inject money directly into household bank accounts, if need be. And the idea is catching on. That’s the monster coming to towns and villages near you! Call it “overt monetary financing.” Call it “money from helicopters.” Call in “insane.” But it won’t be unpopular. Who will protest when the feds begin handing our money to “mid- and low-income households”?
Policymakers' Intentions are More Critical Drivers than Macroeconomics in Week Ahead
Submitted by Marc To Market on 10/04/2015 09:12 -0500The reaction function of officials takes on added importance in the week ahead.
Global Dollar Shortage Intensifies To Worst Level Since 2012
Submitted by Tyler Durden on 10/03/2015 17:31 -0500"The dollar fx basis declined further over the past two months. The 5-year dollar fx basis weighted across six DM currencies declined to a new low for the year and the lowest level since the summer of 2012 during the euro debt crisis. In all, continued monetary policy divergence between the US and the rest of the world as well as retrenchment of EM corporates from dollar funding markets are sustaining an imbalance in funding markets making it likely that the current episode of dollar funding shortage will persist."
Dollar Bulls Bends,but Will They Break?
Submitted by Marc To Market on 10/03/2015 08:57 -0500The poor jobs report weighed on the dollar, but the greenback recovered as the session progressed. It is not clear the jobs report was a game changer. Stay tuned.
The Slippery Slope Of Denial
Submitted by Tyler Durden on 10/02/2015 14:50 -0500- Dollar doesn’t matter, indicates strong economy relative to the world
- Dollar matters for oil, but lower oil prices mean stronger consumer
- Manufacturing slump doesn’t matter, only temporary
- Manufacturing declines are consumer spending, but only a small part
- Manufacturing declines are becoming serious, but only from overseas
- US consumer demand is strong, except everywhere you look to actually find it.
- ...
72-Year-Old "Mad Dog" Wakabayashi Warns "Reversals Will Be Massive In Scope"
Submitted by Tyler Durden on 10/01/2015 21:00 -0500"It's obvious the U.S. is headed for deep deflation, hurt by the strong dollar... The Fed raising rates in this environment is not only ridiculous but harmful. U.S. stocks are plunging, not because of the prospect of a Fed rate hike, but to prevent it."
Gold in Q3: USD -4.5%, EUR -2.4%, GBP +1.5%, CHF +2.4%, CAD +4.6%
Submitted by GoldCore on 10/01/2015 07:55 -0500Gold in Q3: USD -4.5%, EUR -2.4%, GBP +1.5%, CHF +2.4%, CAD +4.6%. Global stocks fall 5% to 13% - Stocks face worst quarter since 2011 over fears for global economy
USDJPY Tumbles, Drags Futures Lower, After BOJ Said To See "Little Immediate Need" For More QE
Submitted by Tyler Durden on 10/01/2015 06:36 -0500BOJ IS SAID TO SEE LITTLE IMMEDIATE NEED FOR ADDING STIMULUS
BOJ OFFICIALS ARE SAID TO WANT CHANCE TO SEE MORE DATA
Japanese Pension Funds Find New Ways To Lose Money, Will Blow Retirement Funds On Junk Bonds
Submitted by Tyler Durden on 09/30/2015 13:12 -0500With Japan's economy already sliding into its 5th recession of the past decade, once pensioners open their retirement statements in a few weeks and find a 15% plunge in their purchasing power, Japan can skip recession and proceed straight to a consumer-driven recession. But wait, there's more: because if pensioners are angry now, wait until they learn that they have lost everything, after buying all those junk bonds that Carl Icahn is now actively selling with both hands and feet, because: JAPAN PENSION FUND TO INVEST IN JUNK BONDS, NIKKEI SAYS. And just like that, with or without Krugman's active economic advice, Japan's fate is sealed because much to Japan's dismay, "junk" bonds are called that for a reason.
Stocks, Futures Soar As Europe Joins Japan In Deflation, Surge Driven By Hopes For More Japan, ECB QE
Submitted by Tyler Durden on 09/30/2015 05:50 -0500- Abenomics
- Bill Dudley
- Bond
- Chicago PMI
- China
- Cleveland Fed
- Consumer Confidence
- Consumer Prices
- Copper
- CPI
- Crude
- Crude Oil
- Dennis Gartman
- Equity Markets
- Fail
- Fed Speak
- Germany
- Glencore
- headlines
- Housing Bubble
- Italy
- Janet Yellen
- Japan
- Jim Reid
- LTRO
- Natural Gas
- Nikkei
- Recession
- recovery
- Unemployment
- Volatility
- Yen
Terrible economic news is wonderful news for markets, all over again, and with the worst S&P500 quarter since 2011 set to close today, some horribly "great" news is just what the window-dressing hedge funds, most of whom are deeply underperforming the broader market (not to mention Dennis Gartman) ordered.
Peak Japaganda: Advisers Call For More QE (But Admit Failure Of QE); China's Yuan Hits 3-Week High
Submitted by Tyler Durden on 09/29/2015 20:23 -0500Asian markets are bouncing modestly off a weak US session, buoyed by more unbelievable propaganda from Japan. Abe's proclamations that "deflationary mindset" has been shrugged off was met with calls for more stimulus, more debt monetization, and an admission by Etsuro Honda (Abe's closest adviser) that Japan "is not growing positively" and more QE is required despite trillions of Yen in money-printing having failed miserably, warning that raising taxes to pay for extra budget "would be suicidal." Japanese data was a disaster with factory output unexpectedly dropping 0.5% and retail trade missing. Markets are relatively stable at the open as China margin debt drop sto a 9-month low. PBOC strengthened the Yuan fix for the 3rd day in a row to its strongest in 3 weeks.





