Credit Suisse

GoldCore's picture

Gold forecasting is a mugs game at the best of times but given the uncertain geo-political situation, the fragile banking system and the very strong fundamentals for gold, it is hard to argue with Barnabas Gan of OCBC  or BMI. Gold should be meaningfully higher in the coming months and into 2017 as investors diversify into gold. Or rather we are likely to see dollars, euros, pounds and other fiat currencies continue to be devalued versus gold.

Gundlach: "Deutsche Bank Will Be Bailed Out But What About Credit Suisse"

While Germany's largest lender would ultimately be rescued by the German government if needed, other banks in the region wouldn’t be able to count on such support, Gundlach said. “Deutsche Bank will be supported by Germany if push comes to shove, but what about Credit Suisse, which has shown a similar decline in stock price? Who’s there to bail them out?”

Sterling Tumbles To 31 Year Low Pushing The FTSE100 Near All Time High; US Futures Flat

Sterling dropped to its weakest since 1985, hit by a growing sense that the UK may be heading for a 'hard' Brexit in which it cuts links to the EU's single market in favor of total control over immigration. The dollar strengthened, the Nikkei225 rose as the Yen fell,  stocks in Europe rallied while US equity futures were fractionally in the green.

Frontrunning: September 29

  • Stocks Jump as OPEC Splits Markets; Indian Assets Drop on Attack (BBG)
  • In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets (BBG)
  • Congress Passes Spending Bill to Keep Government Running (WSJ)
  • Wells Fargo chief Stumpf heads to Hill with pressure mounting (Reuters)
  • Lawmakers Won’t Let Wells Fargo Forget Its Scandal Anytime Soon (BBG)

"Russian Roulette" - Credit Suisse CEO Admits "EU Banks Not Really Investable"

European banks are in a “very fragile situation” and are “not really investable as a sector" according to Credit Suisse chief executive Tidjane Thiam. Speaking at a conference in London this morning, The FT reports, the CEO of Europe's 'other Deutsche Bank' said "only a fool would try to make a five-year prediction in a world that is so random," wishing John Cryan (DB CEO) well, "I hope that they come out of their current predicament."

The Italian Referendum: What You Need To Know

In addition to the recent note by Credit Suisse, here, courtesy of a note by UBS' Felix Huefner, is what you need to know about the upcoming Italian referendum - an event that has been dubbed by some as the most important risk event for Europe in the remainder of the year - scheduled for December 4.

Frontrunning: September 26

  • Stocks Drop on Bank, Commodity Company Woes; Turkish Lira Falls (BBG)
  • Clinton and Trump to square off in highly anticipated debate showdown (Reuters)
  • Profit Slump for S&P 500 Heads for a Sixth Straight Quarter  (WSJ)
  • Oil rises as OPEC meets, volatility hits post-Doha high (Reuters)
  • Deutsche Bank Slumps to Fresh Record Low on Capital Concerns (BBG)
  • Police Videos Fail to Quiet Protests in Charlotte (WSJ)

Spot The Odd (Hedge Fund Strategy) Out

The trend is your friend... until the end. August was a great green month for many hedge funds (with Multi-Strategy and Event-Driven strategies doing best). But, as RBC notes., 'trend-following' CTA/Managed Money funds "got smoked."