Blackrock

Tyler Durden's picture

Frontrunning: April 17





  • Putin Doesn't Rule Out Sending Troops (WSJ)
  • Japan Cuts Economic View on Tax Rise (WSJ)
  • No "harsh weather" in Chipotle restaurants where comp store sales rose 13.4% (PR)
  • No sanctions for you: EU sanctions push on Russia falters amid big business lobbying (FT)
  • Consumer Spending on Health Care Jumps as Obamacare Takes Hold (BBG)
  • China Seen Cracking on Property Controls (BBG)
  • Google, IBM results raise questions about other tech-sector companies (Reuters)
  • California city evacuation lifted after military ordnance found (Reuters)
  • For Obama, Standoff With Moscow Jumbles Plans at Home and Abroad (WSJ)
 


Tyler Durden's picture

Frontrunning: April 16





  • Ukraine Says Russia Exporting ‘Terror’ Amid Eastern Push (BBG)
  • Civil War Threat in Ukraine (Reuters)
  • China Shoe Plant Strike Disrupts Output at Nike, Adidas Supplier (BBG)
  • Mt Gox to liquidate (WSJ)
  • Ex-Co-Op Bank Chairman Charged With Cocaine Possession (BBG)
  • Goldman Sachs plans to jump-start stock-trading business (WSJ)
  • Credit Suisse first-quarter profit falls as trading tumbles (Reuters)
  • U.K. Unemployment Rate Falls to Five-Year Low (BBG)
  • Lawmakers Back High-Frequency Trade Curbs in EU Markets Law (BBG)
  • Yahoo's growth anemic as turnaround chugs along (Reuters)
  • Spain ETF Grows as Rajoy Attracts Record U.S. Investments (BBG)
 


Tyler Durden's picture

Futures Tread Water As Geopolitical Fears Added To Momentum Collapse Concerns





Futures are treading water once more now that Ukraine has stormed to center stage from the backburner after everyone was convinced Putin would let the situation cool off after annexing Crimea. Guess not. Adding the renewed geopolitical jitters to what has already been a beta stock bloodbath into a holiday shortened week assures some high volatility fireworks. Cautious sentiment was observed over in Asia (Nikkei 225 -0.36%) amid renewed fears that geopolitical tensions in Ukraine will flare up again following reports of exchange gunfire with pro-Russian militants. This sentiment carried over into the European session with stocks lower across the board (Eurostoxx50 -0.71%). EUR is lower after ECB’s Draghi said any further strengthening of the EUR would warrant further action by the ECB, including non-standard measures such as quantitative easing - it is amazing how frequently and often the Virtu algos still fall for Draghi's jawboning trick which has now become all too clear will never be implemented and certainly not if he keeps talking about it daily, as he does.

 


Tyler Durden's picture

The Problem With HFT Explained In One Chart





The problem is now readily apparent: without any gates to prevent HFT (ab)users from positioning themselves anywhere they wish in the constructiveness/profitabilty spectrum, it goes without saying that everyone will immediately flock to the most profitable, and hence, least constructive and most predatory, HFT strategies.

 


Tyler Durden's picture

Frontrunning: April 7





  • The counter-HFT-attack begins with first target - dark pools: Dark markets may be more harmful than high-frequency trading (Reuters)
  • Malaysia Jet Team Hears Pings Consistent With Black Box (BBG)
  • At Toyota as Humans Steal Jobs From Robots (BBG)
  • ‘Reverse Auctions’ Draw Scrutiny (NYT)
  • Death knell sounds for Brazil’s economic strategy (FT)
  • Technology Traders Head for the Exit as Put Trades Surge (BBG)
  • NSA Uses Corporate News to Spread Propaganda and Silence Dissent (TruthDig)
  • Holcim, Lafarge agree to merger to create cement giant (Reuters)
  • Any minute now: Investment Jump Seen From Macy’s to Berkshire After 2013 Fizzle (BBG)
  • India kicks off world's biggest election in remote northeast (Reuters)
 


Tyler Durden's picture

Read Michael Lewis' Flash Boys: A Wall Street Revolt: An Adaptation





The stock market really was rigged... “It’s 2009,” Katsuyama says. “This had been happening to me for almost two years. There’s no way I’m the first guy to have figured this out. So what happened to everyone else?” The question seemed to answer itself: Anyone who understood the problem was making money off it...

 


Tyler Durden's picture

Two Years Later, Larry Fink Confirms Zero Hedge Was Right





Two years ago, on April 2, 2012, long before it became abundantly clear to even the most clueless CNBC hacks, we said that there will be no capex boom as long as corporate management teams abuse ZIRP (and yes, it is all the Fed's fault as we further explained) to allocate capital, most of it courtesy of low-cost debt, by providing quick returns to activist investors through dividends and buybacks, instead of reallocating the funds to grow the company by investing in Capex (the latest proof of the unprecedented lack of capital spending growth increase came earlier today) and SG&A or at least M&A. Two years later after our post, whose conclusion has been proven empirically by what has happened in the US economy where CapEx still refuses to pick up despite endless lies of some recovery that refuses to materialize except in talking head year-end bonuses, none other than the head of the world's largest asset manager, BlackRock's Larry Fink admits we were right all along.

 


Tyler Durden's picture

Frontrunning: March 26





  • One-Ship Ukraine Navy Defies Russia to the End (WSJ)
  • Crimea-Induced Trading Surge Stokes Moscow Exchange Rally (BBG)
  • Moscow says Ukraine stops Russian crews disembarking in Kiev (Reuters)
  • New images show more than 100 objects that could be plane debris (Reuters)
  • Anger of Flight 370 Families Explodes in Beijing (BBG)
  • Murdoch Promotes Son Lachlan in Succession Plan for Empire (BBG)
  • Facebook to buy virtual reality goggles maker for $2 billion (Reuters)
  • Syrian Regime Exploits Rebel Despair (WSJ)
  • King Digital IPO price may not bode well for stock (Reuters)
  • Rothschild in Twitter Spat as Bakries Cut Ties With Miner (BBG)
 


Tyler Durden's picture

Puerto Rico Bonds Tumble On Possible Hedge Fund Pump-And-Dump Probe





In what many thought was a miracle of modern money-printing-driven yield-chasing, Puerto Rico managed to get $3.5 billion of bonds off last week with no problem (albeit at a 8.73% yield). The issue (while perhaps not as surprising as the low yield issues of Uganda we have reflected on previously) raised some eyebrows and in the trading since its release, FINRA noticed something concerning.  The bonds, as Bloomberg reports, are supposed to 'minimum denomination $100,000' blocks and yet 75 trades this week have been for no more than $25,000 violating regulations which deem these for "institutional purchasers" and strongly suggesting the heavy hedge fund demand was nothing more than a pump-and-dump scheme to unsophisticated retail investors. PR bonds have plunged from par to $92 this week.

 


Tyler Durden's picture

The Music Just Ended: "Wealthy" Chinese Are Liquidating Offshore Luxury Homes In Scramble For Cash





One of the primary drivers of the real estate bubble in the past several years, particularly in the ultra-luxury segment, were megawealthy Chinese buyers, seeking to park their cash into the safety of offshore real estate where it was deemed inaccessible to mainland regulators and overseers, tracking just where the Chinese record credit bubble would end up. Some, such as us, called it "hot money laundering", and together with foreclosure stuffing and institutional flipping (of rental units and otherwise), we said this was the third leg of the recent US housing bubble. However, while the impact of Chinese buying in the US has been tangible, it has paled in comparison with the epic Chinese buying frenzy in other offshore metropolitan centers like London and Hong Kong. This is understandable: after all as Chuck Prince famously said in 2007, just before the first US mega-bubble burst, "as long as the music is playing, you've got to get up and dance." In China, the music just ended.

 


Tyler Durden's picture

Frontrunning: March 18





  • Lost Jet’s Path Seen as Altered via Computer (NYT)
  • Fed Links Low Rates to “Persistent Headwinds” in Economy (Hilsenrath)
  • Top German Court Clears Euro-Zone Bailout Fund (WSJ)
  • U.S., EU set sanctions as Putin recognizes Crimea "sovereignty" (Reuters)
  • Indian wealth effect: Sensex, Nifty hit life highs as domestic-focused firms rally (Reuters)
  • China bond default has positive effect on local government groups (FT) - unless it's negative
  • Russia tensions  risk higher gas prices (FT)
  • China Home-Price Growth Slows in Big Cities on Tight Credit (BBG)
  • ECB's Weidmann says German surpluses "here to stay" (Reuters)
  • Microsoft Office for iPad (AAPL) to be introduced this month (The Verge)
 


Tyler Durden's picture

Frontrunning: March 10





  • Index of largest Chinese stocks drops to lowest since February 2009 (BBG)
  • Plane-Debris Hunters Seek Suspected Aircraft Window Part (BBG)
  • New-Home Building Is Shifting to Apartments (WSJ)
  • Forward Guidance Risks Stoking Instability, BIS Says (BBG)
  • Alleged Bitcoin Millionaire Nakamoto Gets $28,000 Donations (BBG)
  • Mexico kills drug kingpin reported dead years ago (Reuters)
  • Tencent to Buy 15% Stake in JD.com to Boost E-Commerce (BBG)
  • Bitcoin exchange MtGox 'faced 150,000 hack attacks every second’ (Telegraph)
  • Noyer Says Stronger Euro Creates Unwarranted Pressure on Economy (BBG)
  • Russian Forces Gain in Ukraine as Separatist Vote Looms (BBG)
 


Capitalist Exploits's picture

The Next Big Thing in Finance!





Crowdfunding is set to disrupt the finance industry. Its about time!

 


Tyler Durden's picture

Guest Post: The Warped, Distorted, Manipulated, Flipped, Housing Market





Reality will reassert itself in 2014, with lemmings, flippers, and hedgies getting slaughtered as the housing market comes back to earth with a thud. The continued tapering by the Fed will remove the marginal dollars used by Wall Street to fund this housing Ponzi. The Wall Street lemmings all follow the same MBA created financial models. They will all attempt to exit the market simultaneously when their models all say sell. If the economy improves, interest rates will rise and kill the housing market. If the economy tanks, the stock market will plunge, creating fear and killing the housing market. Once it becomes clear that prices have begun to fall, the flippers will panic and start dumping, exacerbating the price declines. This scenario never grows old.

 


Tyler Durden's picture

Larry Fink Warns There Is "Way Too Much Optimism", We Are Headed For "Much Greater Volatility"





What a difference half a year makes. It seems like it was yesterday when Blackrock head Larry Fink, when discussing the future of capital markets with the now defunct money honey, uttered these infamous words about any and all possible risks: "it doesn't matter." Suddenly, it matters. Speaking in Davos, Fink warned there is 'way too much optimism' in financial markets as he predicted repeats of the market turmoil that roiled investors this week.  As Bloomberg reports, Fink warned a Davos panel that "the experience of the marketplace this past week is going to be indicative of this entire year... We’re going to be in a world of much greater volatility."

 


Syndicate content
Do NOT follow this link or you will be banned from the site!