Wells Fargo

Tyler Durden's picture

Frontrunning: April 25





  • UK economy shows 0.3% growth (FT)
  • Texas University Fund Sold $375 Million in Gold Bars (BBG)
  • Spain Jobless Rate Breaches 27% on Recession Woes (BBG)
  • Letta calls for easing of austerity policies (FT)
  • Italy Led by Letta Brings Berlusconi Back as Winner (BBG)
  • Fed Debate Moves From Tapering to Extending Bond Buying (BBG)
  • South Korea wants talks with North on shuttered industrial zone (Reuters)
  • Republicans advance bill to prepare for debt ceiling fight (Reuters)
  • Republicans claim White House failed to warn on severity of cuts (FT)
  • Xi meets former US heavyweights (China Daily)
  • Next BoE chief Carney says clear framework key to policy success (Reuters)
  • Chinese roll out red carpet for Hollande (FT)
 
Tyler Durden's picture

Frontrunning: April 24





  • The Inland Empire bubble is back: BMW to Amazon Space Demand Spurs Rush to Inland Empire (BBG)
  • Tamerlan Tsarnaev was on classified government watch lists (Reuters)
  • Brothers in Boston Bombing Case Said Drawn to Radicalism (BBG)
  • Germany Spurns Calls to Loosen Austerity Stance (WSJ)
  • Spain poised to ease austerity push (FT)
  • What ever happened to France's voice in Europe? (Reuters)
  • U.S., South Korea Reach Nuclear Deal (WSJ)
  • U.S. Sees No Hard Evidence of Syrian Chemical Weapons Use (BBG)
  • RBA Set to Invest Foreign Currency Reserves in China, Lowe Says (BBG)
  • FedEx Wins $10.5 Billion Postal Contract as UPS Shut Out (BBG)
 
smartknowledgeu's picture

Why the Western Banking Cartel’s Gold and Silver Price Slam Will Backfire - And How You Can Protect Yourself from the Blowback





Let's get down to the facts of the recent banker gold & silver paper price smash and the lies about the banker gold & silver paper price smash being propagated by the mass media and banking shills like Paul Krugman so everyone can understand why this smash will blow up in the face of the very bankers that executed it at some point down the road. Retail individuals AND global institutions all around the world are finally beginning to understand that physical ownership of gold and silver is how to counter banker fraud & intervention into the gold and silver markets and this realization is going to produce massive blowback.

 
Tyler Durden's picture

Frontrunning: April 19





  • Police Searching for 19-Year-Old Boston Bombing Suspect (BBG)
  • Mayhem Erupts in Boston After MIT Campus Officer Slain (BBG)
  • Elvis Impersonator Accused of Ricin Letters Sowing Fear (BBG)
  • Blackstone Pulls Out of Dell Bid on Rapidly Falling PC Sales (BBG)
  • Before Texas plant exploded: What did regulators know? (Reuters)
  • Aso Says Japan Policy Unopposed at G-20 Meeting as Yen Falls (BBG)
  • Bipartisan pair target $2.5tn US savings (FT)
  • Plan for new Cyprus vote casts uncertainty on bailout (Cyprus Mail)
  • Ireland picks through debtors’ lifestyles (FT)
 
Tyler Durden's picture

Frontrunning: April 18





  • Apple reportedly stops placing Mac component orders (DigiTimes)
  • Apple Ordered to Remove Obscene Content From China Store (BBG)
  • Texas Ammonia-Plant Blast Kills as Many as 15 People (Reuters)
  • Boston Probe Said Focused on Person Dropping Bag at Site (BBG)
  • The Chinese cold trade war comes come to roost: US becomes Japan’s top export market (FT)
  • Berlusconi, Bersani back Marini in presidential vote (Ansa)
  • German parliament backs Cyprus bailout (Reuters)
  • China Vows Wider Yuan Movement (WSJ)
  • Morgan Stanley Sees Core Earnings Weaken (WSJ)
  • Gold Miners Lose $169 Billion as Price Slump Adds ETF Pain (BBG)
  • G-20 Draft Affirms Pledge to Avoid Competitive Devaluations (BBG)
  • IMF warns on risks of excessive easing (FT)
  • The battle for the Swiss soul (Reuters)
 
Tyler Durden's picture

Overnight Sentiment: Gold Rout Halted For Now





Yes, there was economic news overnight, such as a Eurozone and UK CPI, both of which came in line with expectations (1.7% and 0.4% respectively), and a German ZEW which confirmed Europe's accelerating deterioration, tumbling from 48.5 to 36.3, far below expectations of a 41.0 print (somehow the huge miss has managed to push the EURUSD up by 60 pips to an overnight high of 1.31 but this is merely the pre-US open manipulation to ramp US equities higher), just as there was news that Angela Merkel's support for a Cyprus bailout is growing (was there an alternative?), and that as part of their ongoing investigation into Italy's repeatedly insolvent Monte Paschi, investigators had seized €1.8 billion worth of assets from Nomura Holdings, and that Spain as usual sold more Bills than expected, driven by oversize Japanese and Pension Fund purchases, but what everyone has been looking for is whether the relentless and record rout in gold is over. For now, it appears that is the case, with gold printing an overnight low of just over $1320 and ramping higher ever since, up 3% so far and rising.

 
Tyler Durden's picture

Frontrunning: April 15





  • Venezuela Says Chávez Successor Wins Vote (WSJ)
  • China growth risks in focus as first quarter data falls short (Reuters)
  • Japan Gets Calls From U.S. to Europe Not to Drive Down Yen (BBG)
  • EU Set to Clash on Bank Deal as Germany Sees Treaty Limit (BBG)
  • Dish Launches $25.5 Billion Bid for Sprint (WSJ)
  • Commodities Tumble, Stocks Slide as China Growth Slows (BBG)
  • Top fund managers take home $8bn less (FT)
  • Obama Programs Derided by Republicans as Pejorative Entitlements (BBG)
  • Gene swapping makes new China bird flu a moving target (Reuters)
  • McDonald's Cranks Up The Volume on 'Value' (WSJ)
  • UK pension deficits set to rise by £100bn (FT)
 
Tyler Durden's picture

All Eyes On The Gold Rout, Most Oversold In 14 Years





While China's trifecta miss of GDP, Retail Sales and Industrial Production all coming lower than expected was likely a factor in the overnight rout of gold, the initial burst of selling started well before the Chinese data hit the tape, or as soon as Japan opened for trading with forced financial institution selling to prefund cash for any and all future JGB VaR-driven margin calls. It was all downhill from there, literally, with overnight selling of gold punctured by brief burst of targeted stop hunting, sending the metal down $116 per ounce, as spot touches $1385 after trading nearly at $1500 yesterday and down $200 in 4 days. End result, whether due to a re-collapsing global economy, margin calls, fears forced Cyprus gold selling will be imposed on all other insolvent European countries, coordinated central bank slams, hedge fund positioning, long unwinds, liquidations, fears about future demand, or whatever the usual selling suspects are, is that gold tumbles an unprecedented 7.8% on 230,000 contracts in one day, and well over 10% in two days, pushing the yellow metal 14 day RSI band to 18, meaning it is now most oversold since 1999. In brief, it is an all out panic, with Goldman still telling clients to sell, i.e., buying every shiny ounce all the way down (not to mention India, where accordingto UBS Friday demand was double the average).

 
Tyler Durden's picture

Guest Post: 11 Economic Crashes That Are Happening Right Now





The stock market is not crashing yet, but there are lots of other market crashes happening in the financial world right now.  Just like we saw back in 2008, it is taking stocks a little bit of extra time to catch up with economic reality.  But almost everywhere else you look, there are signs that a financial avalanche has begun.

 
David Fry's picture

Do Markets Sense Trouble?





Friday saw panic selling in gold as the metal broke $1,500 in a free-fall move. Is this a sign of “risk on” or something more sinister? Perhaps Cyprus is a major seller or there’s a large margin call somewhere. Some even assert some countries with debt problems are selling gold to raise capital to finance their country’s needs.

 

 
Tyler Durden's picture

Usage Of 401(k)s As An ATM Soars By 28% In Q4





Nearly one-fifth all people with a 401(k) plan have at least one outstanding loan from it with those under 30 years old having taken an average 38.2% of their remaining untouched balance as the new ATM to maintain the credit-fueled standard of living. In a press release from Wells Fargo, data based on 1.9 million 401(k) holders shows that Q4 2012 saw a stunning 28% surge in the number of people taking loans from their retirement plans. While the numbers are scary for younger people, the older generation is taking more loans with 34.2% of those in their 50s and 28.9% of those in their 60s having taken loans from their retirement plans. Yet another example of the 'strength' of the recovery as those with at least one loan outstanding had an average balance in their retirement plan of $7,764! So much for the wealth effect.

 
Tyler Durden's picture

Frontrunning: April 12





  • Korean Nuclear Worries Raised (WSJ)
  • Och-Ziff, With Strategy from a 30-Year-Old Debt Specialist, Racks Up Big Score (WSJ)
  • Japan's big "Abenomics" gamble: how to tell if it's paying off (Reuters)
  • Kuroda walks a two-year tightrope (FT)
  • China Rebound at Risk as Xi Curbs Officials’ Spending (BBG)
  • BOJ Said to Consider Boosting Outlook for Inflation (BBG) - for energy prices? Absolutely: by double digits
  • Cyprus May Loosen Bank Restrictions in Days (WSJ)
  • Cyprus mulls early EU structural funds (Reuters)
  • Russia slashes 2013 growth forecast (FT)
  • Japan, U.S. Agree on Trade-Talks Entry (WSJ)
  • IMF Trims U.S. Growth Outlook in Draft Report Citing Fiscal Cuts (BBG)
  • Mexico Is Picking Up the Peso (WSJ)
 
Tyler Durden's picture

Overnight Sentiment: Lower





There was little in terms of overnight newsflow to spook algos, but the tone is decidedly sour this morning following a lack of either the now traditional Japan or Europen-open buying ramps. The primary reason for this may well be the ongoing decline in the USDJPY which failed to breach the 100 barrier yesterday, coming as close as 99.95 before the Mrs. Watanabe onslaught had to be called off despite some more jawboning from Kuroda whose headlines are now summarily ignored, and which appears to have set a line in the sand for Japan, whose market naturally closed lower following this strengthening in its currency. Similarly troubling was the dip in the SHCOMP which closed down -0.58%, this despite the epic M2 and credit injection reported yesterday: if new liquidity can't send the market higher, what can?

 
rcwhalen's picture

Bank Earnings Taxed by QE2, Massive Regulation





Cost reductions and layoffs are the drivers for bank earnings... Watch those ski tips.  

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