GoldCore's picture

Gold Bullion Demand Surges 27% In Q3 - New Chinese “Buying Spree”

Gold bullion coin and bar demand surged in Q3 as gold’s continuing COMEX driven price weakness in July and sharp falls in stock markets in China and globally in August saw store of wealth buyers internationally again accumulate bullion.

Tyler Durden's picture

Frontrunning: November 12

  • Stock futures little changed as Yellen comments awaited (Reuters)
  • Draghi stimulus hint underpins stocks, knocks euro (Reuters)
  • Black Friday's Losing Its Mojo and Retailers Might Be Relieved (BBG)
  • Macy’s Fights Downward Spiral With Bet on Off-Price Backstage Stores (WSJ)
  • Greece Comes to a Standstill as Unions Turn Against Tsipras (BBG)
  • Euro zone production falls more than expected in September (Reuters)
  • Valeant played a key role in building, operating Philidor RX (Reuters)
Tyler Durden's picture

Euro Crushed By Draghi's Latest "Whatever It Takes" Moment; Fed Speaker Barrage On Deck

The biggest event overnight came from Europe, where Draghi managed to once again jawbone the Euro lower by ober 50 pips when he told European lawmakers in a prepared testimony that downside economic risks are "clearly visible," repeating his October press conference statement, adding that the ECB will reexamine degree of accommodation in December as "inflation dynamics have somewhat weakened." And the statement that crushed the Euro: "If we were to conclude that our medium-term price stability objective is at risk, we would act by using all the instruments available within our mandate to ensure that an appropriate degree of monetary accommodation is maintained." I.e., another "whatever it takes" moment.

Tyler Durden's picture

"Currency War By 1000 Cuts" Continues - PBOC Weakens Yuan For Longest Streak Since Lehman

Amid warnings from Daiwa Capital Markets that policy-makers "will sacrifice Yuan stability" in order to manage the deterioration in the economy (trade and industrial production data confirming the weakness), The PBOC weakened the Yuan fix for the 8th straight day. This is the longest streak of weakness since August 2008.

Tyler Durden's picture

The World's Biggest Bond Bubble Continues To Burst As China Suffers More Defaults

“Debt wasn’t a problem during the boom years because profits kept growing. But it’s not sustainable when the economy slows."

Tyler Durden's picture

China's 'Nasdaq' Rises For 6th Straight Day As Commodities, Freight Index Collapse

The PBOC weakened the Yuan fix for the 7th straight day - the longest such streak of 'devaluation' since 2012 - which appears to have helped fuel yet another day of gains for China's most-levered Shenzhen and ChiNext stock indices (even though the USDollar is losing altitude against Asian FX). At the break we note that the lower beta CSI-300 and Shanghai Composite are diverging lower. Meanwhile, over in real economy land, Copper is hitting new lows, nickel is weak, zinc is down, and China Containerized Freight Index just hit a new record low... but when has any of that ever mattered?

Tyler Durden's picture

Billionaire Chinese "Beverly Hillbilly" Pays $170 Million For Naked Woman At Christie's

In what's being described as a "palpably tense" tense auction, a "Chinese Beverly Hillbilly" dubbed "The Eccentric Mr. Liu" paid the second highest price at auction in history for a Modigliani. 

Tyler Durden's picture

Frontrunning: November 10

  • Bonds Rise as China Drags Down Metals, Selloff in Stocks Resumes (BBG)
  • European Stock Rally Runs Out of Steam Amid China Growth Concern (BBG)
  • Obama's immigration action blocked again; Supreme Court only option left (Reuters)
  • Ukraine: Cyberwar’s Hottest Front (WSJ)
  • With $170.4 Million Sale at Auction, Modigliani Work Joins Rarefied Nine-Figure Club (NYT)
  • IEA Sees OPEC Market Share Growth in 2020 as Rivals Stagnate (BBG)
Tyler Durden's picture

Global Stocks Fall For 5th Day On Disturbing Chinese Inflation Data; Renewed Rate Hike Fears; Copper At 6 Year Low

The ongoing failure of China to achieve any stabilization in its economy, after already cutting interest rates six times in the past year, and the prospect of a U.S. interest rate hike in December, had made markets increasingly jittery and worried which is not only why the S&P 500 Index had its biggest drop in a month, but thanks to the soaring dollar emerging market stocks are falling for a fourth day - led by China - bringing their decline in that period to almost 4 percent, and the global stock index down for a 5th consecutive day.

Sprott Money's picture

Leaving the Eye of the Hurricane

Those who choose to distance themselves (and their wealth – however large or small) geographically from the centre of the hurricane will fare best.

Tyler Durden's picture

EM Exodus: Emerging Economies See Half Trillion In Capital Flight

"On our estimates $360bn of capital left China during the previous two quarters and an additional $210bn left from the rest of EM." That folks, is what you call an exodus...

Phoenix Capital Research's picture

The US Dollar Bull Market Could Trigger a $9 Trillion Debt Implosion

The market drop in August triggered by China devaluing the Yuan (another victim of the US Dollar bull market) was just the start. Once the US Dollar rally really begins picking up steam, we could very well see a crash.

GoldCore's picture

China’s Central Bank Buys Another 14 Tons of Gold … Bullion Falls To 3 Month Low

China is playing the long game and they could be low balling their total gold holdings – official central bank reserves and non official, governmental holdings – in order to maintain confidence in their substantial US dollar holdings and to aid their bid to join the IMF.

Tyler Durden's picture

Frontrunning: November 9

  • Global Stocks Slip Lower (WSJ)
  • Dollar sits pretty, bond yields rise as Fed bets firm (Reuters)
  • Takeover Loans Have Few Takers on Wall Street (WSJ)
  • Chinese Buyers Seek Dollar Assets as Promise of Yuan Gains Fades (BBG)
  • Banking Giants Learn Cost of Preventing Another Lehman Moment (BBG)
  • Eurozone Finance Ministers Won’t Release $2.15 billion Loan to Greece (WSJ)
Tyler Durden's picture

Global Trade, Demand Continues To Dry Up As China's Exports Miss For Fourth Straight Month

China's exports fell for the fourth consecutive month in October as evidence of collapsing global demand and trade continues to pile up. “A lot of Westerners think this helped us out a lot. But the 2% depreciation actually hurt us. It was in every newspaper and customers called us within hours pushing for 6% discount, so we had to give them 4%."

Syndicate content
Do NOT follow this link or you will be banned from the site!