Credit Suisse

Phoenix Capital Research's picture

The Fed Has Shifted Gears… And the Markets Aren't Paying Attention





As we noted earlier this week, the Fed is growing increasingly concerned of a bubble forming in the financial markets. Previously we noted that Janet Yellen was issued warnings regarding this.

 


Tyler Durden's picture

Frontrunning: March 21





  • Australia says nothing spotted in search for plane (AP)
  • Putin looks to Asia as West threatens to isolate Russia (Reuters)
  • China Billionaire Builds Metals With Dreyfus, Glencore Hires (BBG)
  • China Beige Book Says Economy Slowing (BBG)
  • Caterpillar Said to Be Focus of Senate Overseas Tax Probe (BBG)
  • US Cancels Summit With Divided Group of Gulf Nations (WSJ)
  • Cyprus defense minister suffers aneurysm (AP)
  • Abe to zero in on economy as tax hike looms (Nikkei)
  • Europe strikes deal to complete banking union (Reuters)
 


Tyler Durden's picture

"QE's Are... Cake" - The Full Walkthru How Bond Traders Manipulate Daily POMO





Remember when we said in January 2011 that Dealers merely game the daily POMO reverse auction to generate abnormal - and now confirmed criminal - profits on the back of the central bank, i.e. taxpayer? Guess what - we were right. Again.

 


Tyler Durden's picture

Frontrunning: March 13





  • China premier warns on economic slowdown as data fans stimulus talk (Reuters)
  • Li says China defaults ‘unavoidable’ (FT)
  • Russia Said to Ready for Iran-Style Sanctions in Worst Case (BBG)
  • Rescue the tapes from the Bank of England’s dustbins  (FT)
  • Obama Warns Putin of Cost to Russia for Annexing Ukraine (BBG)
  • The TVIX is back: Credit Suisse VIX Note That Ran Amok in 2012 Back on Top (BBG)
  • U.S. Risks National Blackout From Small-Scale Attack (WSJ)
  • U.S. Investigators Suspect Missing Airplane Flew On for Hours (WSJ)
  • Malaysia says no evidence missing plane flew hours after losing contact (Reuters)
  • Missed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It (BBG)
  • Death Toll in NYC Building Blast Rises to Six; Search Continues (BBG)
 


Tyler Durden's picture

Bond Trading Grinds To A Halt: Goldman Set To Report Weakest Q1 Since 2005; Revenues Down As Much As 25% Elsewhere





Since Wall Street has been explicitly fighting the Fed (remember: the main reason there is no volume is because nobody is selling) Wall Street has once again lost, and despite its appeals, the time to pay the piper has come. Said payment will be taken out of bank Q1 earnings which as everyone knows, will continue the declining trend seen in recent years (so much for that whole Net Interest Margin fable), but to learn just how bad, we go to the FT which reports that fixed income groups across Wall Street "are set for their worst start to the year since before the financial crisis, with revenue declines of up to 25%." The punchline: "Analysts now expect Goldman Sachs to record its weakest first quarter since 2005 and JPMorgan Chase and Bank of America are forecast to see their lowest revenues since they bought Bear Stearns and Merrill Lynch, respectively, in 2008."

 


Tyler Durden's picture

Jeff Gundlach's "What Hath QE Wrought" Webcast





It's that time in the quarter, when Jeff Gundlach takes the mic to walk everyone though his latest thoughts on the market, as well as the most recent capital allocation of his fund, DoubleLine, which like PIMCO, had a less than memorable 2013, although 2014 is certainly starting off on a far better foot for bond funds everywhere. Also who knows: with MBS guru, "convexity maven" Harley Bassman announcing today he is leaving Credit Suisse and joining Pimco, maybe Gundlach will shock everyone with an announcement that El-Erian is moving from Newport Beach and making Doubleline, and West LA, his new home?

 


Tyler Durden's picture

Frontrunning: March 7





  • Putin rebuffs Obama as Ukraine crisis escalates (Reuters)
  • Behind the $100 Billion Commodity Empire That Few Know (BBG)
  • Initial Public Offerings Hit Pace Not Seen in Years (WSJ)
  • Russian Parliament Will Back Crimea Split From Ukraine (WSJ)
  • Nakamoto Named as Bitcoin Father Denies Involvement, Flees Press (BBG)
  • Chaori Can’t Make Payment in China’s First Onshore Default (BBG)
  • Zombies Spreading Shows Chaori Default Just Start (BBG)
  • Pimco's Gross declares El-Erian is 'trying to undermine me' (Reuters)
  • U.S. Fighters Circle Baltics as Putin Fans Fear of Russia (BBG)
 


Tyler Durden's picture

Frontrunning: February 27





  • European Bonds Surge on Slowing German Inflation, Ukraine Tumult  (BBG)
  • Ukraine tensions hit shares (Reuters)
  • Debating Geithner’s Appearances in 2008 Transcripts  (Hilsenrath)
  • Tensions in Asia Stoke Rising Nationalism in Japan (WSJ)
  • GM Investigated Over Ignition Recall Linked to 13 Deaths (BBG)
  • Smartphone wars shift from gadgetry to price (Reuters)
  • Some Companies Alter the Bonus Playbook (WSJ)
  • London’s Subterranean Luxury Manors Lure New Breed of Lenders (BBG)
  • Japan No Country for Old Farmers as 7-Eleven Takes Plow (BBG)
  • Dream of U.S. Oil Independence Slams Against Shale Costs (BBG)
 


Tyler Durden's picture

Carl Levin Crucifies Credit Suisse For Aiding And Abetting Tax Evasion: Watch Live





As we reported last night, in a scorching 175-page report, the Senate Subcommittee on Investigations threw the book at the second largest Swiss bank Credit Suisse for allowing up to 22,000 Americans to avoid paying taxes for years. Today is the obligatory post-report spectacle which since it is headed by Carl Levin, of Goldman "Shitty Deal", fame, promises to be quite a populist fest.

 


Tyler Durden's picture

Frontrunning: February 26





  • California couple finds $10 million in buried treasure while walking dog (Reuters) ... not bitcoin?
  • Dimon Says Threats to JPMorgan Span Google to China Banks (BBG)
  • Stocks So Many Love to Hate Buoyed by Fed’s Jobs Priority (BBG)
  • White House Weighs Four Options for Revamping NSA Phone Surveillance (WSJ) ... to pick the fifth one
  • Credit Suisse Executives Weren’t Aware of U.S. Tax Dodges (BBG)
  • Militias Hunt Kiev Looters From Central Bank to Bling Palace (BBG)
  • Crisis Gauge Rises to Record High as Swaps Avoided (BBG)
  • Obama to Propose Highway-Repair Program (WSJ)
  • Ukraine Pledges to Protect Deposits as Kiev Rally Called (BBG)
 


Tyler Durden's picture

Stock Futures Drift Into Record Territory As Chinese Fears Ease





For the second night in a row, China, and specifically its currency rate which saw the Yuan weaken once more, preoccupied investors - and certainly those who had bet on endless strenghtening of the Chinese currency - however this time it appeared more "priced in, and after trading as low as 2000, the SHCOMP managed to close modestly green, which however is more than can be said about the Nikkei which ended the session down 0.5%. Still, the USDJPY was firmly supported by the 102.00 "fundamental" fair value barrier and as a result equity futures, which had to reallign from tracking the AUDUSD to the old faithful Yen carry, have been propped up once more and are set to open at all time highs. If equities fail to breach the record barrier for the third time in a row and a selloff ensues after the open in deja vu trading, it will be time to watch out below if only purely for technical reasons.

 


Tyler Durden's picture

How Credit Suisse Helped Thousands Of Americans Avoid Paying Taxes





Just when the latest wave of litigation against banks seemed to be calming down with one after another fraudclosure-related settlement (which have cost JPM alone some $30 billion in the past four years), here comes the Senate Permanent Subcommittee chaired by Carl "Shitty Deal" Levin, and blows up the peace of Zurich's nighttime air with a bombshell of a 175-page report which put Switzerland's second largest bank, Credit Suisse, front and center in a brand news tax evasion scandal... not that there is anything inherently wrong with that: the last thing the US government needs is to be enabled to be even bigger, plus any money the Treasury needs, the Fed will simply print on its behalf. However, it is considered illegal, at least in polite company. And so among the accusations listed in the report, seen by FT, is that "Credit Suisse made false claims in US visa applications, conducted business with clients in secret elevators and shredded documents to help more than 22,000 American customers avoid US taxes, according to a scathing report by a US congressional committee.

 


Tyler Durden's picture

Frontrunning: February 25





  • Turkish PM says tapes of talk with son a fabrication (Reuters) but opposition confirms authenticity, and national TV carriers cut parliament when played live
  • Inside the Showdown Atop Pimco, the World's Biggest Bond Firm (WSJ)
  • Ex-Jefferies Trader’s Customers Say Lies Common Tactic (BBG)
  • Bitcoin exchange Mt. Gox disappears in blow to virtual currency (Reuters)
  • The messenger mania is spreading: SoftBank Said to Seek Stake in Naver’s Line Messaging Unit (BBG)
  • Ukraine Replaces Central Bank Head (BBG)
  • Yup, an actual headline: Harsh weather tests optimism over U.S. economy (Reuters)
  • Hiring of Law Grads Improves for Some (BBG)
  • Easy Currency Bet Gets Harder as the Chinese Yuan Tumbles (WSJ)
  • In Ukraine turbulence, a lad from Lviv becomes the toast of Kiev (Reuters)
 


Tyler Durden's picture

Frontrunning: February 24





  • Ukraine Seeks $35 Billion as Yanukovych Warrant Is Issued (BBG)
  • Ukraine's fugitive president wanted for mass murder (Reuters)
  • Polar Vortex to Bring More Snow on Return to U.S. This Week (BBG)
  • China property prices continue to rise (FT)
  • Microsoft Said to Cut Windows Price 70% to Counter Rivals (BBG)
  • Pentagon to propose shrinking Army, scrapping some jets (Reuters)
  • Hedge Funds Turn Bearish on S&P 500 as VIX Advances (BBG)
  • Draghi’s Data Jigsaw Takes Shape as ECB Readies Showdown (BBG)
  • China, eyeing Japan, seeks WW2 focus for Xi during Germany visit (Reuters)
 


Tyler Durden's picture

Kappa Beta Phi Exposed (Redux)





As we initially exposed over five years ago, with luminary frat brothers and sister such as Jimmy Cayne, Richard Fuld, Stan O'Neil, Martin Gruss, Michael Bloomberg, Jon Corzine, Mary Shapiro, Alan Schwartz, Larry Fink, Larry Fink, Wilbur Ross, James McDonald, this "secret" organization puts the Masons, Bilderbergs, Skull and Bones, Templars, Fight Club and all other secret societies to shame. Now, as New York Magazine infiltrates the inner workings of the "Kappa Beta Phi" society, Liberty Blitzkrieg's Mike Krieger notes the following will confirm what everyone already thought - that a great many of these oligarch financiers are complete and total sociopaths and a menace to society

 


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