- Silly gold ‘bug’ name calling shows bias against gold and towards stocks - “Gold bugs” and “stock roaches” can peacefully coexist - Maybe a rational debate would be enlightening ...
- Fed Likely to Remove ‘Patient’ Barrier for Rate Increase as Soon as June (Hilsenrath) - which year?
- Clinton says used personal email account for convenience (Reuters)
- Euro sinks to 12-year lows as yield gap grows (Reuters)
- Get Ready for Oil Deals: Shale Is Going on Sale (BBG)
- EIA raises 2015 US oil production forecast, cuts 2016 outlook (Reuters)
- How Falling Oil Prices Are Hindering Iraq’s Ability to Fight Islamic State (WSJ)
- China economic data weaker than expected, fuels policy easing bets (Reuters)
- ECB ‘Chasing Own Tail’ as Bond Rates Turn Negative, SocGen Says (BBG)
- Swiss makers quietly gear up with smartwatches of their own (Reuters)
ISIS launches its own version of FaceBook just as a new report profiles the typical terrorist tweeter.
The Federal Reserve, and now the European Union have set the stage for the biggest collapse in bond markets that will make the sub-prime financial crisis look like a cakewalk
The Apple Watch may be pretty... but you are going to need up to 8 of them to make it through a full day. While Tim Cook proclaimed 18 hours of "all-day battery-life" - itself not particularly impressive compared to competing products, hidden deep in Apple Watch's product page is a little admission that battery life (in use) could be as low as 3 hours...
- Dollar at 12-year peak versus euro, emerging markets spooked (Reuters)
- CIA sought to hack Apple iPhones from earliest days (Reuters)
- Draghi Urged Greece to Allow Troika Back Before It’s Late (BBG)
- Brent crude dips below $58 on strong dollar and supply (Reuters)
- Credit Suisse replaces CEO Dougan with Prudential's Thiam (Reuters)
- More "distressed" energy M&A: Verisk buys Wood Mackenzie for £1.85bn (FT)
- Prepare for a surge in defaults: Investors Are Buying Stocks and Bonds From Energy Producers Amid Oil Price Drop (WSJ)
- Private equity executive ordered to pay £72m to ex-wife (FT)
- Democratic donors unfazed by Hillary Clinton's use of private email (Reuters)
- Expensive Hepatitis C Medications Drive Prescription-Drug Spending (WSJ)
- 'ISIS Hackers' Almost Certainly Not ISIS Hackers (NBC)
Well that escalated quickly...
Judging by the euphoric exaggeration and fanboyism on mainstream media this morning, today's Apple Watch (not iWatch, definitely not iWatch) unveiling promises to be "world-changing" for the 'wearables' industry (as well as numerous "first time ever..." comments). Of course, there are 'watches' on the market already, but as Reuters Jason Fields 'jokes', the Apple Watch, of course, does more. The face is high resolution and in color. It even has apps that allow you to do a few of the things you’d be able to do if only you could muster the strength to dig your hand into the front pocket of your jeans, or do a little digging in your handbag.
- ECB Starts Buying German, Italian Government Bonds Under QE Plan (BBG)
- Creditors Reject Greece's Reform Proposals (BBG)
- Is Apple Watch the Timex digital watch of the Internet era? (Reuters)
- Tesla shedding jobs in China as sales target missed (Reuters)
- Malaysia Airlines says expired battery on MH370 did not hinder search (Reuters)
- Gunmen kill more than 12 Islamic State militants in eastern Syria (Reuters)
- GM Plans Share Buyback, Averting Proxy Fight (WSJ)
- Wisconsin capital marked by third day of protests after police shooting (Reuters)
It was not all smiles and jokes as Mario Draghi's European QE officially launched in Europe, with Greece leaving the proverbial turd in the monetary punch bowl.
One of the biggest debates happening at the intersection of technology and privacy at the moment revolves around the U.S. government’s fear that the American peasantry may gain access to strong encryption in order to protect their private communications. Naturally, this isn’t something Big Brother wants to see, and the “solution” proposed by the status quo revolves around forcing technology companies to provide a way for the state to have access to all secure communications when they deem it necessary. “It’s stunningly shortsighted for the FBI and NSA not to realize this... By demanding backdoors, these US government agencies are putting everyone’s cybersecurity at risk.”
"Today, if you own an asset, say stocks or a home, and it went up in price, you do not perceive it as permanent. You fear it could go back down and you spend none of that money. You are not going to alter your investment decisions or your business decisions. That is why the QE-programs did not work. The goal of the Fed was to push up asset prices. With that in mind, they do not want asset prices to go down because they think it will create a reverse wealth effect. QE has been all about pushing up markets and they are not going to throw that to the wind.... By pushing up asset prices ECB president Draghi is going to make the same mistake as the Fed."
As the Goldman Apple Industrial Average drops below 18,000, the cash-open bounce in stocks has now been erased and the major US equity indices are making fresh lows. Despite AAPL's gains, the Nasdaq is now red for March and the S&P 500 down 1%...