Japan
Bank of America: "Sadly, It Took World War II..."
Submitted by Tyler Durden on 12/11/2015 19:28 -0500"A flip to fiscal stimulus is the most likely catalyst for a Great Rotation out of “deflation plays” into “inflation plays”, undoubtedly the biggest investment decision of 2016. Sadly it took the New Deal and WW2 to end the dominance of “growth” over “value” in the 1930s."
Weekend Reading: Risk - That Is All
Submitted by Tyler Durden on 12/11/2015 16:30 -0500While the world patiently waits for Janet Yellen to raise interest rates this month, the markets have been unable to decide as of yet whether such an event is good or bad thing.
US Equity Futures Suddenly Fall Off A Cliff As Europe Slides, Oil Tumbles, EM Currencies Turmoil
Submitted by Tyler Durden on 12/11/2015 06:41 -0500- Australia
- B+
- BOE
- Bond
- Central Banks
- China
- Consumer Sentiment
- Copper
- CPI
- Crude
- Crude Oil
- default
- Equity Markets
- Fail
- fixed
- France
- Germany
- Glencore
- Global Warming
- Henderson
- Hong Kong
- Initial Jobless Claims
- International Energy Agency
- Iran
- Japan
- Jim Reid
- Michigan
- Monetary Policy
- Nikkei
- OPEC
- Ordos
- RANSquawk
- recovery
- Reserve Currency
- University Of Michigan
- Yuan
It was a relatively calm overnight session in which European stocks wobbled modestly, Japan was up, China was down following its weakest fixing since 2011 as the PBOC continues to aggressively devalue since the SDR inclusion (stoking concerns capital outflows are once again surging), EM stocks stocks were weak and the dollar was unchanged ahead of today's retail sales data and next week's Fed meeting, and then suddenly everything snapped.
Jeremy Grantham Urges "Easily Manipulated" Americans To "Become More Realistic" About World's Demise
Submitted by Tyler Durden on 12/10/2015 23:10 -0500Americans have a broad and heavy bias away from unpleasant data. We are ready to be manipulated by vested interests in finance, economics, and climate change, whose interests might be better served by our believing optimistic stuff "that just ain’t so." We are dealing today with important issues, one so important that it may affect the long-term viability of our global society and perhaps our species. It may well be necessary to our survival that we become more realistic, more willing to process the unpleasant, and, above all, less easily manipulated through our need for good news.
Marissa Mayer's Value "Added": Yahoo Is Now Worth A Negative $13 Billion
Submitted by Tyler Durden on 12/10/2015 15:48 -0500at the beginning of the year Meyer's severance was worth $158 million. It has since declined to $60 million. During the same time the enterprise value of Yahoo's core operations, as valued by the market, has declined from negative $1 billion to negative $13 billion. Sounds like a fair trade.
China Exports Most Deflation To The US Since The Financial Crisis
Submitted by Tyler Durden on 12/10/2015 08:59 -0500While the headline import price figure suggested there is some hope that import prices will improve at the headline level in the coming months, something else has emerged which suggests that the real importing of others' deflation is only just starting. Or rather, someone else. China.
The Global Economic Reset Has Begun
Submitted by Tyler Durden on 12/09/2015 22:35 -0500- Alan Greenspan
- Ben Bernanke
- Ben Bernanke
- BIS
- Black Friday
- Black Swan
- Bond
- BRICs
- Central Banks
- Chain Store Sales
- China
- Credit Crisis
- Fail
- Federal Reserve
- General Motors
- Golden Goose
- goldman sachs
- Goldman Sachs
- International Monetary Fund
- Janet Yellen
- Japan
- Main Street
- Market Share
- Quantitative Easing
- Reality
- recovery
- Reserve Currency
- Saudi Arabia
- The Economist
- Too Big To Fail
- Volatility
The U.S. is now experiencing the next stage of the great reset. Two pillars were put in place on top of an already existing pillar by the central banks in order to maintain a semblance of stability after the 2008 crash. This faux stability appears to have been necessary in order to allow time for the conditioning of the masses towards greater acceptance of globalist initiatives, to ensure the debt slavery of future generations through the taxation of government generated long term debts, and to allow for internationalists to safely position their own assets. The three pillars are now being systematically removed by the same central bankers. Why? They are simply ready to carry on with the next stage of the controlled demolition of the American structure as we know it.
The IMF Just Entered The Cold War, Forgives Ukraine's Debt To Russia
Submitted by Tyler Durden on 12/09/2015 21:49 -0500The IMF has now been drawn into the U.S. Cold War orbit. On Tuesday it made a radical decision to dismantle the condition that had integrated the global financial system for the past half century... By doing so, it announced its new policy: “We only enforce debts owed in US dollars to US allies.”
The Screaming Fundamentals For Owning Gold
Submitted by Tyler Durden on 12/09/2015 17:40 -0500- Bank of England
- Bear Market
- BOE
- Bond
- Central Banks
- China
- Chris Martenson
- Creditors
- default
- ETC
- European Central Bank
- Fail
- Federal Reserve
- Foreign Central Banks
- Gambling
- Gross Domestic Product
- Hong Kong
- India
- Janet Yellen
- Japan
- March FOMC
- Market Conditions
- Monetary Base
- Monetary Policy
- Money Supply
- MZM
- None
- Precious Metals
- Purchasing Power
- Real Interest Rates
- Reuters
- Sovereign Debt
- Standard Chartered
- Switzerland
- World Gold Council
Gold is one of the few investments that every investor should have in their portfolio. We are now at the dangerous end-game period of a very bold but very reckless & disappointing experiment with the world's fiat (unbacked) currencies. If this experiment fails -- and we observe it's in the process of failing -- gold will provide one of the best forms of wealth insurance. But like all insurance products, it only works if you buy it before you need to rely on it.
According To Goldman, This Will Be The Biggest Buyer Of Stocks In 2016
Submitted by Tyler Durden on 12/09/2015 14:14 -0500If you said just more of the same, with corporate management teams buying back their own stock in near record quantities (boosting their own stock-linked compensation in the process) and serving as the biggest marginal buyer in the market, then give yourself a pat on the back.
Ever Greater Distortions Hint At Rising Crash Probabilities
Submitted by Tyler Durden on 12/09/2015 08:41 -0500- Bank of America
- Bank of America
- Bank of New York
- Barclays
- Bear Market
- BIS
- Bond
- CDS
- Central Banks
- China
- Counterparties
- default
- Global Economy
- goldman sachs
- Goldman Sachs
- High Yield
- Investment Grade
- Japan
- Market Breadth
- Merrill
- Merrill Lynch
- Monetary Policy
- Money Supply
- Price Action
- Reality
- Repo Market
- Volatility
Government interference by both central banks and regulators (the latter are desperately fighting the “last crisis”, bolting the barn door long after the horse has escaped, thereby putting into place the preconditions for the next crisis) has created an ever more fragile situation in both the global economy and the financial markets. As the below charts and data show, price distortions and dislocations have been moving from one market segment to the next and they keep growing, which indicates to us that there is considerable danger that a really big dislocation will eventually happen.
China Fixes Yuan At Weakest Since August 2011 After 45th Consecutive Month Of Deflation
Submitted by Tyler Durden on 12/08/2015 20:55 -0500Chinese Producer Prices have now fallen YoY for 45 consecutive months and November's 5.9% YoY drop is the largest since the crisis in 2009. Following weak trade data overnight (and with The IMF having blessed any and all currency movements), it appears Chinese authorities have decided to do something about and continue the slowest, quietest, stealthiest currency war in the world. With today's Yuan fix, PBOC has weakened the Yuan back below the August devaluation lows, back to its weakest against the USD since August 2011. Judging by Offshore Yuan, there is a lot more weakening to come.
Has The Fed Ever (Accurately) Predicted A Recession?
Submitted by Tyler Durden on 12/08/2015 19:10 -0500In a recent survey not a single major central bank could provide an example of an accurate “a priori” recession forecast. The silence from the Federal Reserve, European Central Bank, BOE, BOJ and the Bank of Canada is deafening.
Overflowing Global Oil Storage Leads To Soaring Supertanker Rates
Submitted by Tyler Durden on 12/08/2015 18:06 -0500Oil tanker rates soared to the highest in seven years amid an acceleration in the number of bookings and signs that the ships are being delayed when unloading due to a lack of space in on-land storage tanks. This means that day rates for 2 million-barrel carrying ships sailing to Japan from Saudi Arabia, the industry’s benchmark route, surged to $111,359, the highest since July 2008,
Frontrunning: December 8
Submitted by Tyler Durden on 12/08/2015 07:34 -0500- Argus Research
- B+
- Barclays
- Canadian Dollar
- Carlyle
- CBOE
- China
- Comcast
- Copper
- Credit Suisse
- Crude
- European Central Bank
- France
- goldman sachs
- Goldman Sachs
- Hershey
- Housing Market
- Japan
- Morgan Stanley
- Nomura
- Omnicom
- OPEC
- PIMCO
- Redstone
- Reuters
- Securities and Exchange Commission
- SPY
- Starwood
- Starwood Hotels
- Trichet
- Uranium
- Yen
- Yuan
- Anti-Trump Effort Launches Super PAC (WSJ)
- Muslims decry Trump's proposal to keep them out of US (AP)
- Debate Heats Up Over No-Fly List, Gun Sales (WSJ)
- OPEC Takes Down Oil Majors as Lower-for-Even-Longer Kicks In (BBG)
- Chinese Companies Are Trapped in IPO Logjam (WSJ)
- Republican Ted Cruz vaults into first place in new Iowa poll (Reuters)


