CDS

CDS

China Devalues Most In 8 Weeks, Offshore Yuan Slides To 3-Week Lows

Following USD strength last week, China has come back to work after the disappointment of the Shanghai non-accord and weakened the Yuan fix by 0.2% - the most since January 7th. This move follows pressure from offshore Yuan weakness since traders returned from Golden Week - driving the onshore-offshore spread out to its widest since The PBOC stepped in and stomped the shorts.

The New "Big Short"? - Australia's Housing Bubble Is "In the Grip Of Insanity"

"The property bubble is everything to this economy and the country’s citizens, whether they know it or not, are 'all in'." Those who so to speak 'live inside the bubble' are no longer aware of its dangers. The mentality of Australians is generally well aligned with the country’s great weather – their outlook usually tends to be 'happy-go-lucky' and optimistic; but Australia’s citizens have far greater exposure to the bubble than is immediately obvious.

Why The Keynesian Market Wreckers Are Now Coming For Your Ben Franklins

Larry Summers is a pretentious Keynesian fool, but we refer to him as the Great Thinker’s Vicar on Earth for a reason. To wit, every time the latest experiment in Keynesian intervention fails - as 84 months of ZIRP and massive QE clearly have - he can be counted on to trot out a new angle on why still another interventionist experiment or state sponsored financial fraud is just the ticket. Right now he is leading the charge for the greatest stroke of foolishness yet conceived.

How The Pros Do It: Tepper Added 75% To Longs After Saying "Now A Good Time To Take Money Off The Table"

Back in September, David Tepper told BBG TV that "it might be a good time to take money off the table." That's what he said. What did he do? According to his latest 13F as the market was surging in the final quarter of 2015, Tepper was busy buying. So busy in fact, that he took his total long notional exposure to $5 billion an increase of 75%, in the process adding 40% to his longs. 

Deutsche Bank Flip Flops, Now Begs For Central Bank Intervention And Ideally More QE

So there you have it: Please no more easing, but only if easing means NIRP. As everyone has seen by now, more NIRP means a collapse in DB risk assets. But if "no more easing" means "even more QE", then go for it. And just like that we are back to square minus one, where central banks are called upon to fix the mess that central banks made, while holding banks and their flip-flopping "analysts" (and year end bonus paychecks) hostage.

Deranged Central Bankers Are Blowing Up The World

The fiat currency system, fractional reserve banking fraud, insane Keynesian fiscal policies, and consumer debt based consumption economy are mathematically unsustainable, so they won’t be sustained. The world is about to sit down to a banquet of consequences, served by deranged central bankers.

A Contagious Crisis Of Confidence In Corporate Credit

Fundamentally, Credit is unstable. It is self-reinforcing and prone to excess. Credit Bubbles foment destabilizing price distortions, economic maladjustment, wealth redistribution and financial and economic vulnerability. 'Activist' government intervention and manipulation have pushed protracted Bubbles to the point of precarious systemic fragility.

Neil Howe Warns The 'Professional Class' Is Still In Denial Of The Fourth Turning

"The world has fundamentally shifted over the last decade, especially since we’ve emerged from the Great Recession... But the professional class has been very slow to understand what is going on, not just quantitatively but qualitatively in a new generational configuration that I call the Fourth Turning. They don’t accept the new normal. They keep insisting, just two or three years out there on the horizon, that the old normal will return – in GDP growth, in housing starts, in global trade. But it doesn’t return."