• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...
  • Sprott Money
    09/04/2015 - 05:58
    It can't continue indefinitely, and there has to be a terminal point, and I think obviously we're much closer to that.

Morgan Stanley

Tyler Durden's picture

Frontrunning: April 21





  • The Fed Still Wants Easy Money (BBG) - you don't say
  • ECB Is Studying Curbs on Greek Bank Support (BBG)
  • Banks Paid to Borrow as Three-Month Euribor Drops Below Zero (BBG)
  • Baoding Tianwei is first state-owned Chinese enterprise to default (Reuters)
  • Major Chinese Developer Says It Can’t Pay Dollar Debts (BBG)
  • Wall Street Has No Idea How Much Money Venezuela Has (BBG)
  • Goldman Sachs, Morgan Stanley Find Different Paths to Profits (WSJ)
  • Does the Collapse of a Chinese Developer Signal the Start of More Defaults? (BBG)
  • Retail Traders Wield Social Media for Investing Fame (WSJ)
 
Phoenix Capital Research's picture

The Fed is Leveraged Twice As Much As Lehman Was





Nothing exposes the fallacies of the Fed’s policies  like its horror at the prospect of raising rates even a little bit. Rates have been effectively zero for five years. 

 
Tyler Durden's picture

China To The Rescue: Global Equity Market Rebound After Latest Chinese Easing





It is only fitting that the next business day following a headline that "Global Futures Slide China Tumbles On Short Selling Boost" we would see China, in an apparent panic, not only cut its RRR by 100 bps to 18.5% - far more than expected and the most since 2008 - but, more importantly, hinted that the Friday regulatory decision to encourage short sales and tighter margin rules on "umbrella trusts" was in no way meant to pop that the Chinese stock bubble, ridiculous as it may be. End result: after Chinese futures crashed by up to 6% on Friday after the Shanghai close, overnight the SHCOMP was down just 1.64%, erasing the bulk of the futures loss. More importantly, US equity futures have seen a strong bid this morning in yet another attempt to defend not only the Apple Sachs Industrial Average from going red on the year but the all important 100 DMA technical levels.

 
Tyler Durden's picture

China Cuts Reserve Ratio Most Since 2008 In Scramble To Preserve Equity Bubble, Boost Economy





As we observed yesterday when we showed that if comparing the collapse in China's housing market with that of the US following their respective peaks then China is already a recession, we added that "as shown in the chart below [China] has recently engaged in several easing steps, with many more to come according to the sell-side consensus." Sure enough, just a few hours later, the PBOC announced its second Reserve Requirement Ratio (RRR) for all banks since February 4, when China had its first industry-wide RRR cut since May 2012. The move will be effective Monday, April 20.

 
Tyler Durden's picture

Is This How The Bank Of Japan "Signals" It Is About To Boost QE?





As we have noted previously, The Bank of Japan (BoJ) is one of a handful of central banks that trade on global stock markets. The finance ministry holds a 55% stake of the Jasdaq-traded security, which as one analyst noted "seems like an odd investment." However, it appears BoJ shares serve a different purpose - to signal an imminent easing to the market. As Bloomberg reports, BoJ stock has surged almost 30% in the last few days on very heavy volume... the previous 4 times we saw spikes in price and volume, Japanese authorities eased significantly in the following days.

 
Tyler Durden's picture

Mario Draghi, Collateral Scarcity, And Why The ECB Will Soon Buy Corporate Bonds





Mario Draghi, perhaps blinded by confetti, doesn't see a scarcity of collateral while HSBC thinks that's a bit "strange," and Morgan Stanley doesn't really see what the problem is even as their own analysis shows that it is now "impossible" for Germany to fully implement their portion of the program under the capital key. Meanwhile, FT thinks it's possibly important that thanks to the absurd consequences of NIRP-dom, the ECB may soon take the plunge into euro corporate credit sending yields on corporate bonds negative.

 
Tyler Durden's picture

Frontrunning: April 15





  • China growth slowest in six years, more stimulus expected soon (Reuters)
  • EU charges Google over shopping searches, to probe Android (Reuters)
  • A Chinese Paradox: Slow Growth Is Good, Stock Bubbles Welcome (BBG)
  • Draghi Seen Dispelling Duration Doubts About QE Program (BBG)
  • IEA Sees OPEC Supply Jumping Most in Four Years on Saudi Surge (BBG)
  • SEC Reaches Settlement with Former Freddie Mac  (WSJ)
  • Kerry says confident Obama can get final deal on Iran (Reuters)
  • Regulators Call for Short-Term Loan Changes to Handle ‘Too-Big-to-Fail’ (WSJ)
  • Florida Doctor Linked to Sen. Robert Menendez Indicted for Medicare Fraud (WSJ)
 
Tyler Durden's picture

Wall Street's Biggest Banks May Have To Make Good On $26 Billion In Oil Hedges





"The fair value of hedges held by 57 U.S. companies in the Bloomberg Intelligence North America Independent Explorers and Producers index rose to $26 billion as of Dec. 31, a fivefold increase from the end of September," Bloomberg writes, noting that the very same Wall Street banks on the hook for the hedges also financed the shale boom.

 
Tyler Durden's picture

This Is How The Third Largest Energy Deal In History Happened





Curious how the third largest energy deal, and 14th largest corporate take over in history, happened? The answer, courtesy of Reuters, is simple: all it took was a phone call.

 
Tyler Durden's picture

Frontrunning: April 2





  • Samaras Says He’d Join Alliance to Keep Greece in Euro (BBG)
  • Tensions with Warren camp could loom over Clinton campaign (Reuters)
  • Ackman Report on Herbalife in China Figures in Probe (WSJ)
  • Al Shabaab storms Kenyan university, 14 reported killed (Reuters)
  • Iraq’s Four-Mile Line of Supertankers Fuels Shipping-Rates Surge (BBG)
  • Menendez's fate could sharpen Republicans' edge in Senate (Reuters)
  • IRS Chief Chides Ted Cruz Over 'Abolish the IRS' Mantra (BBG)
  • Yemen Houthi fighters backed by tanks reach central Aden (Reuters)
 
Tyler Durden's picture

Frontrunning: April 1





  • Oil holds around $55 as Iran nuclear talks drag on (Reuters)
  • Bob Diamond’s African Banking Venture Runs Into Problems (WSJ)
  • Iran Nuclear Talks Resume With Lavrov Saying Deal at Hand (BBG)
  • Wal-Mart Ratchets Up Pressure on Suppliers to Cut Prices (WSJ)
  • Renegades of Junk: The Rise and Fall of the Drexel Empire (BBG)
  • Explosion at Yemen factory kills at least 25: residents, medics (Reuters)
  • Macerich Rejects Simon Property’s $16.8 Billion Takeover Bid (WSJ)
  • Reckoning Arrives for Cash-Strapped Oil Firms Amid Bank Squeeze (BBG)
 
Tyler Durden's picture

Four TBTF Banks Threaten To Withhold Funds To Democrats Over Elizabeth Warren's Wall Street Rants





Having already proven that their institutions are above the law in the aftermath of the financial crisis, executives at the “Too Big to Fail and Jail” banks have decided it’s time to teach Senate Democrats a lesson. Not being content with trillions in taxpayer backed bailouts to protect and further consolidate virtually all wealth within their oligarch fiefdoms, these bankers are irate at the notion that a commoner would dare criticize their unassailable crony privilege. What Wall Street wants is one hundred Chucky Schumers in the Senate.

 
GoldCore's picture

$100 Trillion Global Bond Bubble Poses “Systemic Risk” To Financial System





Rate hike could put fixed-income funds under severe pressure  > Fed’s Bullard warns of “dire consequences” of developing asset price bubbles  > “Gates” or capital controls that limit investor withdrawals in chaotic and illiquid markets are likely
 
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