Chrysler

Tyler Durden's picture

Futures Unhappy On The First Trading Day Of 2014





The first trading session of previous years has always been a whopper for those betting on central planning and capital flows. In fact, if one adds up the S&P performance on the first trading day of each year going back to 2009 (i.e., 1/2/13: + 2.54%, 1/3/12: + 1.55%, 1/3/11: + 1.13%, 1/4/10: + 1.60%, and 1/2/09: + 3.16%), one gets a whopping 10% return just on that one trading session. Which is why the fact that futures are glowing read, if only for the moment, may be disturbing for index investors and all those others who put all their faith, not to mention money, in St. Janet. Today's red open is hardly being helped by the 10 Year which continues to drift lower with the yield now at 3.04%, even as the Spanish 10 Year yield just got a 3 handle as well. At this rate the two streams should cross some time in the next two months. Just what a higher yield in the US vs Spain would imply for fair and efficient markets, we leave up to readers to decide.

 
Tyler Durden's picture

Frontrunning: December 23





  • Apple, China Mobile sign long-awaited deal to sell iPhones (Reuters)
  • U.S. growth hopes help shares shrug off China money market jitters (Reuters)
  • Rule Change on Health Insurance Rattles Industry (WSJ), Obamacare's signup deadline on Monday has its exceptions (Reuters)
  • Tale of Two Polish Mines Shows Biggest EU Producer’s Woes (BBG)
  • Probes See U.K. Market Manipulation Reports Rise 43% (BBG)
  • Shoppers Grab Sweeter Deals in Last-Minute Holiday Dash (BBG)
  • Banks Mostly Avoid Providing Bitcoin Services (WSJ)
  • Secret Handshakes Greet Frat Brothers on Wall Street (BBG)
 
Tyler Durden's picture

Auto Makers' Channel Stuffing Highest Since 2005





While the abundance of commercials for cars across all media this time of year is nothing new, the manufacturers (and even more so the dealers) are likely getting more desperate. As Bloomberg reports, inventory climbed to almost 3.4 million cars and light trucks entering November - at 76 days of supply, that was the highest for the month since 2005. This should come as no surprise as we previously noted GM's post-crisis highs in channel stuffing as hope remains high that the recent slowdown in sales does not continue. The question, of course, is, "will manufacturers be responsible and curb production to keep inventory in check, or are some going to resort to old, bad habits and churn it out and then throw incentives on them." We suspect we know the margin-crushing answer.

 
Tyler Durden's picture

Frontrunning: November 26





  • M&A Mystery: Why Are Takeover Prices Plummeting? (WSJ)
  • Hedge-Fund Fight Club Traded Illegal Tips Not Punches (BBG)
  • Speed Traders Meet Nightmare on Elm Street With Nanex (BBG)
  • A new wave of U.S. mortgage trouble threatens (Reuters)
  • Penny Lane: Gitmo's other secret CIA facility (AP)
  • US hardens threat to leave Afghanistan with no troops (WSJ)
  • Russian Prison Stuns Captain of Greenpeace’s Bombed Ship (BBG)
  • ECB's Weidmann Warns Central Banks Might Be Too Dominated by Fiscal Concerns (WSJ)
  • China Air Move Splits Japan as Carriers Obey New Rules (BBG)
  • Inside the Breakup of the Pritzker Empire (WSJ)
 
Tyler Durden's picture

No Car, No FICO Score, No Problem: The NINJAs Have Taken Over The Subprime Lunatic Asylum





One of the most trumpeted stories justifying the US economic "recovery" is the resurgence in car sales, which have now returned to an annual sales clip almost on par with that from before the great depression. What is conveniently left out of all such stories is what is the funding for these purchases (funnelling through to the top and bottom line of such administration darling companies as GM) comes from. The answer: the same NINJA loans, with non-existent zero credit rating requirements that allowed anything with a pulse to buy a McMansion during the peak day of the last credit bubble.  Bloomberg reports on an issue we have been reporting for over a year, namely the 'stringent' credit-check requirements for new car purchasers by recounting the story of Alan Helfman, a car dealer in Houston, who served a woman in his showroom last month with a credit score lower than 500 and a desire for a new Dodge Dart for her daily commute. She drove away with a new car.

 

 
Tyler Durden's picture

Frontrunning: October 31





  • US Blasts Germany's Economic Policies (WSJ)
  • Citigroup, JPMorgan Said to Put Currency Dealers on Leave (BBG)
  • Watchdog: Syria Destroys Chemical-Arms Equipment (WSJ)
  • Kynikos Alumni Start Hedge Fund Betting on Declining Stocks (BBG)
  • China state media calls for stern action after Tiananmen attack (RTRS)
  • IMF warns of financial shock risk to Africa (FT)
  • Insurers Oppose Obamacare Extension as Danger to Profits (BBG)
  • BoJ content to ignore Fed tapering and go its own way (FT)
  • U.S. attorney wants DOJ to take civil action against BofA (RTRS)
  • NSA Fallout Hits AT&T's Ambitions In Europe (WSJ)
 
Tyler Durden's picture

Frontrunning: October 28





  • Budget deficit priorities people: U.S. NSA spied on 60 million Spanish phone calls in a month (Reuters)
  • Stuck in countless scandals, Obama does what he does best: speak. Obama To Speak At Installation Of FBI Director James Comey (TPM)
  • Five killed as car ploughs into crowd in Beijing's Tiananmen Square (Reuters)
  • U.K. Storm Brings Power Cuts, Snarls Transport in South (BBG)
  • China Signals ‘Unprecedented’ Policy Changes on Agenda at Plenum (BBG)
  • Sandy's Legacy: Higher Home Prices (WSJ)
  • Merkel Enters Concrete SPD Talks as Finance Post Looms (BBG)
  • Keep arming those Syrian al-qaeda rebels: Car bombs kill scores in Baghdad, in sign of crisis in Iraq (WaPo)
  • J.P. Morgan's Mortgage Troubles Ran Deep (WSJ)
  • Detroit’s public library contains story of city’s decline (FT)
  • Argentina elections: President loses in Buenos Aires province (BBC)
  • Phone-hacking: trial of Andy Coulson and Rebekah Brooks to begin (Guardian)
 
Tyler Durden's picture

Frontrunning: October 15





  • Spot the pattern: Senate Leaders Nearing a Deal (Politico), Senators say debt, shutdown deal is near (USA Today), Senate Leaders in Striking Distance of a Deal (WSJ), U.S. senators hint at possible fiscal deal on Tuesday (Reuters), Senate Debt-Limit Deal Emerging (BBG)
  • U.S. debt ceiling crisis would start quiet, go downhill fast (Reuters)
  • Uneasy Investors Sell Billions in Treasurys (WSJ)
  • BOE’s Cunliffe Says U.K. Is Not in Grip of Housing-Market Bubble (BBG)
  • Letta Mixes Tax Cut With Rigor in Post-Berlusconi Italian Budget (BBG)
  • Japan Seeks to Export More High-End Food  (WSJ)
  • Burberry names Bailey CEO as Ahrendts quits for Apple (Reuters)
  • China’s Biggest Reserves Jump Since 2011 Shows Inflow (BBG)
 
Tyler Durden's picture

Frontrunning: October 11





  • Dot Com part deux: Investors are showing increasing hunger for initial public offerings of unprofitable technology companies  (WSJ)
  • Poll Finds GOP Blamed More for Shutdown (WSJ)
  • House, Senate Republicans Offer Competing Plans on Debt-Limit, Government Shutdown (WAPO)
  • Obama, Republicans aim to end crisis after meeting, hurdles remain (Reuters)
  • US Rethinks How to Release Sensitive Economic Data (WSJ)
  • Chinese East Oil Fuels Fresh China-US Tensions (WSJ)
  • ECB Agrees on Swap Line With PBOC as Trade Increases (BBG)
  • China September Auto Sales Surge 21% on Japanese Rebound (BBG)
  • JPMorgan Taps Taxpayer-Backed Banks for Basel Rules (BBG)
 
Tyler Durden's picture

Frontrunning: October 10





  • The ice breaks; fiscal talks set (The Hill); Ryan steps up to shape a deal (The Hill), as predicted here yesterday
  • Republicans consider short-term U.S. debt ceiling increase (Reuters)
  • Shutdown Standoff Shows Signs of a Thaw (WSJ)
  • JPMorgan Clients in Cash as Schwab’s Options Hedge Default (BBG)
  • Mitch McConnell, Senate GOP search for way out (Politico)
  • Meredith Whitney Winds Down Brokerage Unit After Setting Up Fund (BBG)
  • Washington Budget Chaos Keeps Fed Rates Low for Longer (BBG)
  • Chinese Premier Outlines US Debt Concerns (FT)
  • Saudis brace for 'nightmare' of U.S.-Iran rapprochement (Reuters)
  • Obama Urges Action on Yellen’s Fed Nomination (Reuters)
  • Libyan Prime Minister Ali Zidan Freed After Kidnap (WSJ)
 
Tyler Durden's picture

Frontrunning: September 30





  • Government Heads Toward Shutdown (WSJ), First U.S. Shutdown in 17 Years at Midnight Seen Probable (BBG), Congress in game of chicken (RTRS)
  • Italian Premier Pursues Last-Ditch Rescue of Government (WSJ)
  • Election risk rattles Italian government bonds (RTRS)
  • Obama and Ryan Stay on Sidelines on Budget (WSJ)
  • Volcker Rule Costs Tallied as U.S. Regulators Press Deadline (BBG)
  • Faltering Chinese Factory Growth Adds to Rebound Fears (FT)
  • Health Law Hits Late Snags as Rollout Approaches (WSJ)
  • Apple Overtakes Coca-Cola as Most Valuable Brand, Study Finds (BBG)
  • Euro-Area September Inflation Slows More Than Forecast on Energy (BBG) - Puting will fix that shortly
 
Tyler Durden's picture

Japanese Car Parts Providers Busted For $5 Billion Price-Fixing Collusion





A few days ago we noted a major Senate demand of the Treasury Secretary that foreign nations' currency manipulations should be punished (supported by American Manufacturers Associations). Today we find out that Eric Holder and his DoJ crew have found that nine Japanese car parts makers have colluded to raise prices. As part of the scheme, more than $5 billion in auto parts were sold to U.S. car manufacturers and installed in cars sold in the United States and elsewhere. The companies will pay more than $1.6bn in criminal fines. Seems like a small price to pay for the Japan being allowed to devalue its currency boosting its own car exports?

 
Tyler Durden's picture

Frontrunning: September 26





  • The new normal name of a broken market: glitches - NYSE, Nasdaq Consider Cooperating to Address Glitches (WSJ)
  • Early Thursday Humor: Abe Tells Wall Street Japan’s Economy Is Exceptionally Good (BBG)
  • Rising Rates Seen Squeezing Swaps Income at Biggest Banks (BBG)
  • JPMorgan Mortgage Talks Said to Discuss $11 Billion Deal (BBG)
  • Can't make this up: HFT firm "finds" Fed did not leak data early to benefit HFT firms (FT)
  • Hertz Cuts Full-Year Forecast on Weak U.S. Airport Rentals (BBG)
  • Greece does not need third bailout, seeks debt 'reprofiling' - deputy PM (Reuters) - right, it needs a fourth and fifth
  • Hezbollah gambles all in Syria (Reuters)
  • Twitter Adds J.P. Morgan and Morgan Stanley as Bankers on IPO (WSJ)
  • Messi in Court Shows Tax Collectors Set to Pursue Star Athletes (BBG)
 
Tyler Durden's picture

Frontrunning: September 25





  • JPMorgan eyes $4bn ‘pay for peace’ deal (FT)
  • Prosecutors Pursue Big SAC Settlement (WSJ) - in the US if you are rich enough, no crime is bad enough
  • Cruz's Defiant Stand Is Also a Lonely One (WSJ); Texas senator speaks for more than 14 hours (FT)
  • Iran Applies Brakes to U.S. Mideast Plans (WSJ)
  • Americans in Poll Doubt Economy Rebound in Defiance of Forecasts (BBG)
  • Big Banks Cut Basel III Shortfall by $112 Billion at End of 2012 (BBG) - the equivalent of 10 bridges to the Kalahari desert
  • Obama’s Jabs at Russia on Syria Shows Diplomacy Tensions (BBG)
  • ICAP Staff Face Criminal Charges Tied to Libor  (WSJ)
  • Alibaba Is Said to Shift Target for I.P.O. to U.S. From Hong Kong (NYT)
  • Home gold rush is over (Reuters)
  • Conoco in landmark Alaska drone flight (FT)
 
Tyler Durden's picture

Frontrunning: September 24





  • Iran Icebreaker Set at U.N.  (WSJ)
  • Chrysler Feud Triggers IPO Filing  (WSJ)
  • JPMorgan Chase, 12 More Banks Said to Be Sued Over Libor (BBG)
  • Regulator sues Morgan Stanley, eight others over faulty securities (Reuters)
  • Monte Paschi Seen Boosting Cost Goals to Meet EU Demands (BBG)
  • Here we go again - "not enough funds": CFTC chair Gary Gensler warns on fund cuts to police derivatives (FT)
  • Congress Fuels Private Jails Detaining 34,000 Immigrants (BBG)
  • KKR, Sycamore looking to buy Jones Group this week (NYPost) - take with lots of salt
  • Fiat rethinks alliance with Chrysler after IPO filing (Reuters)
  • Young Invincibles Caught in Crossfire Over Obamacare Cost (BBG)
  • Mayfair Office Squeeze Spawns New London Real Estate Hubs (BBG)
 
Syndicate content
Do NOT follow this link or you will be banned from the site!