Circuit Breakers
The Looming Recession & The Muted Delight Of Janet Yellen's Epic Failure
Submitted by Tyler Durden on 01/09/2016 20:30 -0500Perhaps weak manufacturing, construction, and trade data are mere outliers. Maybe the Fed can see beyond the fog to clearly capture the big picture. Or maybe the Fed has lost its marbles. Their outlook doesn’t jive with that of the regular working stiff.
US Futures Lose Overnight Gains; Dax Back Under 10,000 As Chinese Market Bailout Fizzles
Submitted by Tyler Durden on 01/08/2016 06:56 -0500- Aussie
- Bond
- China
- Circuit Breakers
- Consumer Credit
- Copper
- CPI
- Crude
- Crude Oil
- Equity Markets
- Fail
- fixed
- France
- Germany
- Initial Jobless Claims
- Iran
- Japan
- Jim Reid
- KIM
- Mexico
- NASDAQ
- Natural Gas
- Nikkei
- North Korea
- Price Action
- Primary Market
- recovery
- Saudi Arabia
- Shenzhen
- Time Warner
- Trade Deficit
- Unemployment
- Volatility
- Wholesale Inventories
- Yuan
The half-life of the latest "market supporting" intervention by the Chinese government: just about 12 hours.
What China Has To Look Forward To When It Opens In A Few Hours
Submitted by Tyler Durden on 01/07/2016 19:38 -0500
It's all up to China tonight.
China Suspends Circuit-Breaker Rule - "This Is Insane; We Were Forced To Liquidate All Our Holdings This Morning"
Submitted by Tyler Durden on 01/07/2016 09:38 -0500Update: *CHINA SUSPENDS STOCK CIRCUIT BREAKER RULE - In Q&A, CSRC insists circuit breakers didn't cause the China meltdown but admits they may have aggravated sell-off.
"It couldn't be worse," exclaims one manager who started his fund mid-year in 2015, blaming China's equity market carnage on its newly-created circuit-breakers (as opposed to the fact that the Chinese market trades at 64x P/E and there are sellers everywhere). "Panic will eventually turn into a buying opportunity," hopes one strategist while another proclaims "poorly-designed" circuit breakers need to be adjusted to 10% (seriously). Blame is everywhere, but it is Chen Gang who summed up the panic best, "this is insane... we were forced to liquidate all our holdings this morning."
Global Stocks Crash After Spiraling Chinese Devaluation Unleashes Worldwide Chaos And Selling
Submitted by Tyler Durden on 01/07/2016 07:34 -0500- Apple
- Australia
- B+
- Bank of America
- Bank of America
- Bitcoin
- Bond
- Brazil
- China
- Circuit Breakers
- Consumer Confidence
- Continuing Claims
- Copper
- CPI
- Crude
- Crude Oil
- Equity Markets
- fixed
- France
- George Soros
- Germany
- headlines
- High Yield
- Hong Kong
- Initial Jobless Claims
- Italy
- Japan
- KIM
- Kyle Bass
- Kyle Bass
- Market Conditions
- Middle East
- Monetary Policy
- Natural Gas
- Netherlands
- Nikkei
- None
- North Korea
- Oklahoma
- OPEC
- RANSquawk
- San Francisco Fed
- Saudi Arabia
- Shenzhen
- Standard Chartered
- Trade Balance
- Trade Deficit
- Unemployment
- Volatility
- Wells Fargo
- World Bank
- Yen
- Yuan
Once China set the Yuan fixing some 0.5% lower, the biggest drop since the August devaluation, all hell broke loose and unleashed a global selling panic after China's stock market was promptly shut down less than 30 minutes into trading, then European shares dropped the most in more than 4 months as Asian equities plunges, as did US stock futures, the dollar weakened against the euro and the yen; crude plunged to fresh 12 year lows. Gold rose.
Nomi Prins' Financial Road Map For 2016: "The Potential For Chaotic Fluctuations Is Greater Than Ever"
Submitted by Tyler Durden on 01/05/2016 18:15 -0500- Bernie Sanders
- Bond
- Brazil
- Capital Markets
- Central Banks
- China
- Circuit Breakers
- Corruption
- default
- European Central Bank
- Excess Reserves
- Federal Reserve
- Fitch
- Greece
- Investment Grade
- Iran
- Italy
- Janet Yellen
- Japan
- Mexico
- Monetary Policy
- None
- OPEC
- Portugal
- Recession
- recovery
- Saudi Arabia
- Unemployment
- US Dollar Index
- Volatility
- Yuan
We are currently in a transitional phase of geo-political-monetary power struggles, capital flow decisions, and fundamental economic choices. This remains a period of artisanal (central bank fabricated) money, high volatility, low growth, excessive wealth inequality, extreme speculation, and policies that preserve the appearance of big bank liquidity and concentration at the expense of long-term stability. The potential for chaotic fluctuations in any element of the capital markets is greater than ever. The butterfly effect - the flutter of a wing in one part of the planet altering the course of seemingly unrelated events in another part - is on center stage.
Late-Day Buying Panic Saves Stocks From Worst Start To January In 84 Years
Submitted by Tyler Durden on 01/04/2016 17:33 -0500Here Are The Key Findings From The SEC's ETFlash Crash Data Dump
Submitted by Tyler Durden on 01/04/2016 12:30 -0500An 88-page "Research Note" from the SEC's Division of Trading and Markets titled "Equity Market Volatility on August 24, 2015," outlines the facts of that fateful trading day, discussing what went wrong, and which classes of securities were affected. The conclusions of the piece are purely factual, with little or no conjecture, and there's absolutely no policy recommendations. There are dozens of unintended consequences already baked into its proposed rulemaking. That's bad enough when you're talking about the inner workings of mutual funds and ETFs; it's a bigger deal when we're talking about the inner workings of the markets themselves.
Happy New Year: Global Stocks Crash After China Is Halted Limit Down In Worst Start To Year In History
Submitted by Tyler Durden on 01/04/2016 06:46 -0500- Australia
- Bond
- Carry Trade
- Chicago PMI
- China
- Circuit Breakers
- Copper
- Crude
- Crude Oil
- Equity Markets
- Eurozone
- Federal Reserve
- Ferrari
- fixed
- Flight to Safety
- Germany
- headlines
- High Yield
- India
- Initial Jobless Claims
- Iran
- Jim Reid
- KIM
- Markit
- Meltdown
- Middle East
- NASDAQ
- Nikkei
- RANSquawk
- Saudi Arabia
- Shenzhen
- Swiss Franc
- Yen
- Yuan
It all started off relatively well: oil and US equity futures were buoyant on hopes Iran and Saudi Arabia would break out in a bloody conflict any minute boosting the net worth of shareholders of the military industrial complex, and then, out of nowhere, like a depressed China in a bull shop, the "mainland" crashed the party and it all well south very, very quickly...
C-Section Awakenings
Submitted by Cognitive Dissonance on 12/27/2015 09:07 -0500Rare is the ‘aware’ individual who engages in little more than window dressing in re-ordering our lives in preparation for the inevitable……that which is not self sustaining will not continue.
China Has Lost Control of Its Markets… Who Is Next?
Submitted by Phoenix Capital Research on 10/18/2015 11:29 -0500China is just the latest Central Bank to lose control. Is the Fed next?
Game Over
Submitted by Tyler Durden on 09/20/2015 18:45 -0500The game is over. The trend has changed. And the Fed knows it. The question is: What will it do about it? Roll-over or fight? But will it matter much if it fights? Janet Yellen clearly lost the crowd this week as “accommodative” was met with a resounding SELL as confidence has been shaken. Her job is now to win back confidence. Whether she can or not is now largely determined how the binary set-up we face here plays out. Bottom line: Bulls need a 1998 like repeat to save this year. How did the Fed manage the big correction in the Fall of 1998: It cut rates of course...Well, good luck with that this year.
Sep 8 - China FX Reserves In Record Fall On Yuan Intervention
Submitted by Pivotfarm on 09/07/2015 16:30 -0500News That Matters
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The Week That Laid The Experts Bare
Submitted by Tyler Durden on 08/30/2015 12:40 -0500The week that passed has left many of the so-called “smart crowd” flummoxed, disheveled, dismayed, and disrobed from their expensive facades of “expert insightful analysis.” It seems all that “expert” as well as “insight” wasn’t all it was made out to be. In less than a week: historic records weren’t only broken – they were smashed to smithereens. And the one’s that were the most historic? They weren’t set for positive things.
Was Monday's ETF Collapse Just A Warmup?
Submitted by Tyler Durden on 08/26/2015 13:20 -0500During Monday's flurry of tripped circuit breakers and flash crashing mayhem, ETF investors learned the hard way that Howard Marks was precisely correct when he warned that ETFs "can't be more liquid than the underlying and we know the underlying can become highly illiquid." The question now, is whether subsequent flash crashes will trigger even more spectacular divergences between fair value and ETF unit prices on the way to proving, once and for all, that ETFs may indeed be the new financial weapons of mass destruction.






