• Monetary Metals
    01/28/2015 - 00:28
    It’s terrifying how fast the whole Swiss yield curve sank under the waterline of zero. Now even the 15-year bond has negative interest. The franc has reached the end.

Sprott Money's picture

Get Ready For (Fraudulent) Higher U.S. Interest Rates





The U.S. government is already bankrupt. This is old news to anyone who has been following the number-crunching of individuals such as former Reagan economic advisor, Professor Lawrence Kotlikoff. The U.S. government, the greatest debtor in the history of the world, claims that it is about to (finally) raise interest rates, which have been permanently/fraudulently frozen at 0% for now over 6 years.

 
Tyler Durden's picture

Dow Futures Plunge 425 Points From Friday Highs; Greek Stocks/Bonds Plunging, Crude $44 Handle





Well that escalated quickly. While this morning's weakness in stocks is being pegged to earnings misses (and rightly so), the selling pressure started as Europe opened and Greek stocks and bonds accelerated their freefall. Greek stocks and bonds are now below ECB QE levels and WTI Crude back at a $44 handle as CAT CEO demands Fed does not raise rates due to the "fragile" US economy... The Dow is now 425 points off Friday's highs...

 

 
Tyler Durden's picture

Welcome To The Wreckovery: Who Could Have Possibly Anticipated Caterpillar's Disastrous Earnings And Guidance?





Well, pretty much anyone who had read any of our CAT monthly sales reports over the past 2 years.

 
Tyler Durden's picture

Market Wrap: Futures Tumble On Spike Of "Strong Dollar" Earnings Disappointments And Profit Warnings





Following yesterday's earnings disappointments, most notably from Microsoft which is down 7% this morning following the usual after-the-fact downgrades from JPM, Citi and Nomura, futures were already on a the back foot heading into this morning - no doubt impacted by the deja vu ridiculous move in the EURCHF noted earlier - when the latest batch of earnings just hit, of which Dow component Procter and Gamble stood out and which missed the top and bottom line.  But the punchline, and in direct refutation of what Jack Lew said previously about a strong dollar being good for the US economy, was this:"The outlook for the year will remain challenging. Foreign exchange will reduce fiscal 2015 sales by 5% and net earnings by 12%, or at least $1.4 billion after tax." In other words, P&G will "offset" the surge in the USD with more layoffs. So when Jack Lew said "good" he really meant "bad."

 
Tyler Durden's picture

Swiss Franc Tumbles Then Soars, On Suspected Failed SNB Intervention





For those who slept through the recently-downgraded to junk "Snow Tempest In A Teapot Of 2005", you may want to check the stops of any open EURCHF trades, because, two weeks after the SNB shocked the world and blew up countless retail and institutional FX trading desks, as well as numerous macro hedge funds, the SNB - allegedly - tried to for round two earlier today, when just hours after SNB's Danthine - the same guy who said the EURCHF floor is the bedrock of SNB policy two days before the SNB eliminated it - said that "the SNB remains ready to intervene on foreign exchange markets" that this happened: a dramatic, 250 pips surge in the EURCHF starting at 3 am Eastern.

 
Tyler Durden's picture

The Skies Above New York Right Now, After Blizzard Of 2015 Downgraded To Junk





While the #Blizarrdof2015 may have been a dud, it is the skies above New York, some 10,000 feet and above, that is where the real action lies. Or rather doesn't. As this real time snapshot of airplane traffic over New York, not a plan is to be found.

 
Tyler Durden's picture

Aircraft Carrier Stennis Has Biggest Ordnance Onload Since 2010





Nearly two weeks ago, we were surprised to read on the Navy's website that one of America's prize aircraft carriers, CVN-74, John C. Stennis (whose crew is perhaps best known for the following awkward incident), as part of an operational training period in preparation for future deployments, just underwent not only its first ordnance onload since 2010, but, according to Senior Chief Aviation Ordnanceman Jason Engleman, G-5 division's leading chief petty officer, "the biggest ordnance onload we've seen."

 
Tyler Durden's picture

As The Middle Class Evaporates, Global Oligarchs Plan Their Escape Form The Impoverished Pleb Masses





Obama: "Middle-Class Economics works.."

Davos Hedge Fund Director: “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway...”

 
Tyler Durden's picture

Why Oil Prices Will Be "Lower For Longer" In 3 Simple Charts





History may not repeat... but it does rhyme!

 
Tyler Durden's picture

The Stunning Difference Between Unionized And Non-Unionized Wages





Want to boost US wages across the board? Then just unionize everyone!

 
Tyler Durden's picture

Austrian "Freedom" Party Demands Bailout For Swiss Franc Speculators (From "Monstrous Monetary Policy")





The phrases "it's just not fair" and "waa waa waa" were not seen in Austria's Freedom Party's statement demanding a bailout for Swiss-Franc-denominated borrowers (i.e. people who were willing to speculate on FX rates with their house as collateral in order to get a lower interest rate in order to afford a bigger home that they really couldn't afford in real risk-adjusted terms). What Austria needs, general secretary Franz Kickl exclaimed is "a general regulation and an offer to all Franc borrowers," adding that "it cannot be that Austrian borrowers are the only ones who keep their losses even they are indemnified in Hungary, Croatia and perhaps even in Poland, the Czech Republic and Slovakia." Which does sound oddly like 'waa waa waa'?

 
Tyler Durden's picture

The Joyflation Of The Superbowl





2015 looks set to be the 'superbowl-est' Super Bowl of all time as far as ticket prices are concerned. With it’s almost vertical climb in the last two days, this year’s game is literally off the chart – or at least redefining the upper limits of the chart - the most expensive NFL championship ever based on ticket resale price.

 
Tim Knight from Slope of Hope's picture

Perfect Palo Alto





"Oh, he's there to make sure high school kids don't jump in front of a train to kill themselves", I would reply. And you, assuming you come from a place that isn't insane, would be puzzled and appalled at my answer.

 
Tyler Durden's picture

Chinese Yuan Strengthens As Industrial Profits Plunge By Most On Record





After 2 days of dramatic weakness in the Chinese currency, the Yuan is strengthening modestly at the open following the 8% plunge year-over-year in Chinese Industrial Profits. This is the biggest drop n profits since Bloomberg data began and points to accelerating weakness in China's economy - in the face of the very modest rise in GDP recently. Chinese stocks slipped from a small positive to a smal lnegative in the pre-open, down around 0.1%.

 
Tyler Durden's picture

Guest Post: Why I Fled Argentina After Breaking The Story Of Alberto Nisman's Death





UPDATE: Argentine President Fernandez claims "unprecedented" media attacks, plans to dissolve Intelligence Service, announces new Agency.

Writing for Haaretz.com, Jewish journalist Damian Pachter – who first reported on the death of the special prosecutor – recounts the intimidation, the sleepless nights, the agent who stalked him and his ultimate decision to head for Israel... "So here they are, the craziest 48 hours of my life..."

 
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