Budget Deficit

Tyler Durden's picture

Norway's Kroner Conundrum Deepens As Central Bank Buys Record Amount Of Currency





This is the paradox for Norway: the country needs to buy NOK in order to fund stimulus and support the economy. But by doing so, the Norges Bank is putting upward pressure on the currency at a time when it really needs to depreciate. In other words, what Norway must do to pay for stimulus (buy kroner) is indirectly hurting the economy by keeping the NOK from depreciating and functioning as a counter cyclical buffer.

 
Tyler Durden's picture

Saudi Arabia Hemorrhages $19.4 Billion In Reserves During December





Saudi Arabia - which was busy playing headline hockey with Russia this morning over a rumored 5% production cut proposal - is running out of money. Yes, we know, that sounds absurd. But believe it or not, the country whose monarch recently rented the entire Four Seasons hotel for a 48 hour stay in Washington DC, is in fact going broke. And at a fairly rapid clip.

 
Tyler Durden's picture

Italian Banks Sink As "Bad Bank" Plan Underwhelms





Last week, we noted that Italy is rushing to defuse a €200 billion time bomb in the country’s banking sector as investors fret over banks’ exposure to souring loans. On Wednesday we learn that Italy has indeed managed to strike a deal with Brussels to help alleviate banks’ NPL burden but the agreement falls well short of the type of comprehensive "solution" the market was hoping to see.

 
Secular Investor's picture

Is Russia Imploding In Front Of Our Eyes... Again?





"Russia has approximately 12-18 months left at the current oil price before the country reaches a point of no return..."

 
Tyler Durden's picture

Russian Ruble Crashes To Record Lows In "Panic": "Some Investors Are Selling At Any Price"





“It’s falling faster than any other currency as we see panic selling in the ruble after it breached the 80 per USD level. Some investors are selling at any price,”

 
Tyler Durden's picture

Saudi Arabia Unleashes Capital Controls: Bans Bets Against Dollar Peg





One thing policy makers should have learned after watching Greece unravel last summer is that capital controls almost always backfire. Once the market (not to mention the populace) senses panic, it's all downhill from there and make no mistake, there's blood in the water here.

 
Tyler Durden's picture

S&P's Downgrade (By A German Analyst) Is A "Politically-Motivated" Decision Aimed At Polish Authorities





The Standard and Poor’s rating agency, notorious for its controversial assessments, has this time bashed Poland in the wake of the anti-Polish frenzy whipped up by the European media. To be more precise, Poland was assailed by a German S&P analyst who lowered Poland’s rating from A- to BBB+, despite the economic data that by no means warrant such an evaluation.

 
Tyler Durden's picture

"The Oil Market Could Drown In Oversupply," IEA Warns





With Brent and WTI having dipped below $30 (today’s rebound notwithstanding), and with some grades going for less than zero in the US, the question on everyone’s mind is simply this: can oil continue to move lower? According to the IEA, the answer is “an emphatic yes.”

 
Tyler Durden's picture

The "World's Most Bearish Hedge Fund" Crushed It In 2015





"Your fund made 5.6% net last month, to finish the year up 20.45% net. Gains came from the short book.... Your fund remains long bonds, short equities."

 
Tyler Durden's picture

"You Lie" - Fact-Checking Obama's SOTU Job "Gains" Claims





President Barack Obama’s final State of the Union address came up short of the facts on several topics. Obama apparently omitted part of his presidency in boasting of nearly 900,000 manufacturing jobs “in the past six years.” Over his entire time in office, manufacturing jobs have gone down by 230,000.

 
Tyler Durden's picture

Devaluation Odds Spike To Record Highs As Market Bets Saudi Dollar Peg Will Fall





Apparently, the market isn't buying the notion that a Saudi Aramco IPO will be enough to shore up Riyadh's fiscal fiasco...

 
Tyler Durden's picture

China's Hard Landing To Trigger Meltdown In India: "We Will See Another Crisis"





The collapse of China's economy will have serious implications for India, the country's top investment banker warns. With exports in free fall and the government caught between fiscal retrenchment and the need to keep the economy afloat, it could be a rough year for the country Goldman swears will be a top economic performer in 2016.

 
Tyler Durden's picture

Saudi Aramco Confirms "World's Most Valuable Company" May Go Public





"Saudi Aramco confirms that it has been studying various options to allow broad public participation in its equity through the listing in the capital markets of an appropriate percentage of the Company’s shares and/or the listing of a bundle its downstream subsidiaries."

 
Tyler Durden's picture

Trader Psychology Is Reversing, Scotiabank Warns Market Is "Ripe For Volatility Spikes"





Market psychology established in recent years is reversing. Market volatility is rising and will remain pervasive for a while as psychology, the change in direction of Fed policy, and the increases in general uncertainties, will all conspire to shape an environment ripe for sharp spikes in volatility which will be further amplified by rickety market liquidity.

 
Tyler Durden's picture

Saudi Default, Devaluation Odds Spike As Mid-East Careens Into Chaos





On the heels of a tumultuous weekend that saw Saudi Arabia cut diplomatic ties with Iran after the Saudi embassy was torched by protesters angry at the execution of a prominent Shiite cleric, CDS spreads for the kingdom have blown out to six-year wides while the implied odds of the riyal peg finally breaking are hitting new record highs.

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