Credit Suisse

Tyler Durden's picture

Visualizing The 'All-In' Hope That QE3 Will Save The US Economy





Presented with little comment but to note the somewhat exponential exuberance in US cyclical stocks (relative to defensives) that has gradually accelerated since the Fed launched QE3. If ever there was a chart of 'hope' or 'faith', this is it.

 
Tyler Durden's picture

Switzerland Next: Swiss Banks Set To Foward Confidential Bank Client Data To U.S. Officials





The Cyprus deposit scramble contagion spreads as Reuters reports that "Swiss banks would be required to "motivate" remaining U.S. clients to come clean to U.S. tax officials. If they failed to do so, confidential bank data would be forwarded to U.S. officials. The initial shipment of data from those banks would not include client names but, based on the data, U.S. officials would be able to submit a judicial aid requests to get the names of alleged tax evaders."

 
Tyler Durden's picture

Frontrunning: March 22





  • Cyprus targets big depositors in bank plan  (FT)
  • Merkel Vents Anger at Cyprus Over Bailout Plan as Deadline Looms (BBG)
  • Russia rebuffs Cyprus, EU awaits bailout "Plan B" (Reuters)
  • Russia Rejects Cyprus Bid for Financial Rescue as Deadline Looms (BBG)
  • Cyprus unveils shake-up as the clock ticks (FT)
  • Remember Italy? Italy’s stalemate unnerves investors (FT)
  • Credit Suisse CEO pay jump to fuel banker bonus debate (Reuters)
  • Kuroda Rebuts Reflation Naysayers as BOJ Action Looms (BBG)
  • Fund Manager Says 'Whale' Trade Was a Bet (WSJ)
  • House averts government shutdown, backs Ryan budget (Reuters)
  • Hong Kong Homes Face 20% Price Drop as Banks Raise Rates (BBG)
 
Tyler Durden's picture

Frontrunning: March 18





  • Cypriot Bank Levy Is ‘Ominous’ for Bondholders, Barclays Says (BBG)
  • Euro, Stocks Drops; Gold, German Bonds Rally on Cyprus (BBG)
  • Total chaos:Cyprus tries to rework divisive bank tax (Reuters)
  • More total chaos: Cyprus Prepares New Deposit-Tax Proposal (WSJ)
  • Euro Slides Most in 14 Months on Cyprus Turmoil; Yen Strengthens (BBG)
  • Osborne to admit fresh blow to debt target (FT)
  • Even the Finns are giving up: Finnish Government May Relinquish Deficit Target to Boost Growth (BBG)
  • Moody’s Sees Defaults as PBOC Warns on Local Risks (BBG)
  • Australia Faces ‘Massive Hit’ to Government Revenue, Swan Says (BBG)
  • Inside a Warier Fed, Watch the New Guy (Hilsenrath)
  • Obama to Tap Perez for Labor Secretary (WSJ) - and with that the "minorities" quota is full
  • Finally, this should be good: BuzzFeed to Launch Business Section (WSJ)
 
Asia Confidential's picture

Why Are Asia's Markets Trailing The World?





Asia has badly lagged U.S. and European stock markets this year and over the past 12 months. We explain why it's happened and why it may continue.

 
Tyler Durden's picture

Frontrunning: March 15





  • JPMorgan Report Piles Pressure on Dimon in Too-Big Debate (BBG)
  • Employers Blast Fees From New Health Law (WSJ)
  • Obama unveils US energy blueprint (FT)
  • Obama to Push Advanced-Vehicle Research (WSJ) - here come Solar-powered cars?
  • BRICs Abandoned by Locals as Fund Outflows Reach 1996 High (BBG)
  • Obama won't trip over Netanyahu's Iran "red line" (Reuters)
  • Samsung puts firepower behind Galaxy (FT)
  • Boeing sees 787 airborne in weeks with fortified battery (Reuters)
  • Greece Counts on Gas, Gambling to Revive Asset Sales Tied to Aid (BBG)
  • Goldman’s O’Neill Says S&P 500 Beyond 1,600 Needs Growth (BBG)
  • China’s new president in corruption battle (FT)
  • Post-Chavez Venezuela as Chilly for Companies From P&G to Coke (BBG)
 
Tyler Durden's picture

Frontrunning: March 13





  • More black smoke over Vatican: No decision on pope in second day (NBC)
  • PBOC Chief Says China Should Be on ‘High Alert’ on Inflation (BBG) - just as predicted last fall
  • California Seizes Guns as Owners Lose Right to Keep Arms (BBG)
  • U.S. Tax Cheats Picked Off After Adviser Mails It In (BBG)
  • In 2012, Samsung spent $401 million advertising its phones in the U.S. to Apple's $333 million (WSJ)
  • Coca-Cola probed over mapping in China (FT) - accused of ‘illegally collecting classified information’
  • Italy's Bond Sale Meets Tepid Demand (WSJ)
  • U.S. Steps Up Alarm Over Cyberattacks (WSJ)
  • Mugabe takes on Zimbabwe's Generation X (Reuters)
  • Mars Rover Finds Conditions Once May Have Supported Life (BBG)
  • Oil demand hit by China refinery outages (FT)
  • Big Sugar Is Set for a Sweet Bailout (WSJ) DOA to buy 400,000 tons of sugar to stave off a wave of defaults by sugar processors
  • Spectre of stagflation haunts UK (FT)
  • As Republicans seek identity, conclave highlights divisions (Reuters)
 
Tyler Durden's picture

Frontrunning: March 12





  • Cardinals head to conclave to elect pope for troubled Church (Reuters)
  • Hyperinflation 'Unthinkable' Even With Bold Easing: Abe (Nikkei)
  • Ryan Plan Revives '12 Election Issues (WSJ)
  • Italy 1-yr debt costs highest since Dec after downgrade (Reuters)
  • Republicans to unveil $4.6tn of cuts (FT) - Obama set to dismiss Ryan plan to balance budget within decade
  • CIA Ramps Up Role in Iraq (WSJ)
  • Hollande Hostility Fuels Charm Offensive to Show He’s No Sarkozy (BBG)
  • SEC testing customized punishments (Reuters)
  • Judge Cans Soda Ban  (WSJ)
  • Hungary Lawmakers Rebuff EU, U.S. (WSJ)
  • Even Berlusconi Can’t Slow Bulls Boosting Euro View (BBG) - luckily the consensus is never wrong
  • Funding for Lending ‘put on steroids’ (FT)
  • Investigators Narrow Focus in Dreamliner Probe (WSJ)
  • With new group, Obama team seeks answer to Karl Rove (Reuters)
 
Tyler Durden's picture

Frontrunning: March 11





  • One in four Germans would back anti-euro party (Reuters)
  • EU Chiefs Seeking to Stave Off Euro Crisis Turn to Cyprus (BBG)
  • Ryan Says His Budget Would Slow Annual Spending Growth to 3.4% (BBG)
  • Goldman leads decline as Wall Street commodity revenues plummet (Reuters)
  • South Korea and US begin military drills (FT) and North Korea cuts off hotline with South Korea (Reuters)
  • Karzai Inflames U.S. Tensions  (WSJ)
  • Algorithms Get a Human Hand in Steering Web (NYT)
  • Meeting Is Set to Choose Pope (WSJ)
  • More U.S. Profits Parked Abroad, Saving on Taxes (WSJ)
  • Banks rush to redraft pay deals (FT)
  • Fugitive Fund Manager Stuffed Underwear With Cash, Fled (BBG)
  • Post-Newtown Gun Limits Agenda Narrows in U.S. Congress (BBG)
  • China Hints at Shift in One-Child Policy (WSJ)
 
Tyler Durden's picture

Frontrunning: March 8





  • Firms Send Record Cash Back to Investors (WSJ)
  • And in totally opposite news, from the same source: Firms Race to Raise Cash (WSJ)
  • China warns over fresh currency tensions (FT)
  • Hollande faces pressure over jobs pledge (FT)
  • Obama efforts renew ‘grand bargain’ hopes (FT)
  • Shirakawa BOJ Expansion Gets No Respect as Stocks Cheer Exit (BBG)
  • Japan’s Nakao Defends Easing as China’s Chen Expresses Concern (BBG)
  • Boeing Had Considered Battery Fire Nearly Impossible, Report Says (WSJ)
  • ECB Chief Plays Down Italy Fears (WSJ)
  • China moves to make its markets credible (FT)
  • Euro Group head says UK at risk of 'sterling crisis' (Telegraph)
 
David Fry's picture

QE Continues To Prop Markets





 

 

New highs will become a daily headline feature it seems until we actually have a down day. 

Thursday, Jobless Claims fell (340K vs 347K previous), Productivity (-1.9% vs -2% previous) and Costs (4.6% vs 4.5% previous) were very poor reports, and the Trade Deficit grew (-$44.45B vs -$38B). Lastly, Consumer Credit expanded to $16.2 billion from $14.6 billion primarily on student loans (in a bubble) and auto loans (subprime auto loans booming).

 

 

 
Phoenix Capital Research's picture

Stocks Are At New Highs... But We're All Poorer For It





 

Checkmate, Fed. You’re spending over $100 million per day to create a grand illusion. Stocks are hitting new all time highs, but none of us are any richer for it.

 
 
Tyler Durden's picture

Previewing Today's ECB's Decision





With Europe once more unfixed, its economy mired deep in a double, and in some cases, triple-dip recession, Italian elections leading to many months of political uncertainty (and according to a new Corriere poll, Beppe Grillo now has 28.7% of the vote, his popularity soaring +3.1% since the election, ostensibly making him the biggest party in Italy), the French finmin saying the outlook for Euro area growth outlook is "very worrying" a few hours ago, and otherwise every indication that the European "fixing" has thoroughly failed once more, following the massive miss in German Factory Orders which printed at -1.9% on expectation of a +0.6% January number, many will be looking to today's ECB meeting to see if Draghi will cut European rates further. The EUR has tumbled 700 pips in a month (with Goldman having shorted it all the way on the way up) on fears the Italian may do just that, although the sell-side consensus is less confident. Of all the banks polled, only JPM and to a lesser extent Rabobank believe Draghi will announce another 25 bps cut today. What will Europe do today, and will it proceed to take some of its interest rates negative for the first time ever, proving once and for all its economy is the worst its ever been? Find out in just over an hour.

 
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