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Breadth, Buybacks, & The Piercing Of The "Grandaddy Of All Bubbles"
Submitted by Tyler Durden on 11/15/2015 18:15 -0500Global policymakers have gone to incredible measures to stabilize market, financial and economic backdrops. Yet reflationary measures will continue to only further destabilize. When policy-induced “risk on” is overpowering global securities markets, fragilities remain well concealed. Fragilities, however, swiftly manifest with the reappearance of “risk off.” Rather quickly securities markets demonstrate their proclivity for illiquidity and so-called “flash crashes.” So after an unsettled week in global markets, the critical issue is whether “risk on” is giving way to “risk off” dynamics.
"Irreversibly Broken & Dysfunctional" - There's Something Wrong In The Markets
Submitted by Tyler Durden on 11/11/2015 12:35 -0500Today’s dilemma – for financial markets and central bankers – is that pushing back against nascent “risk off” unleashes another forceful bout of “risk on.” At this point, it’s either Bubble on or off – destabilizing either way. The global Bubble has grown too distended and the market backdrop too dysfunctional. Central bankers over the past 25 years have created excessive “money,” while incentivizing too much finance into financial speculation. There is now way too much “money” crowded into the securities and derivative markets, and the upshot is an increasingly hostile backdrop for leverage and speculation.
“I Can’t Deny It – The Outlook For Gold Isn’t Pretty Right Now”
Submitted by GoldCore on 11/11/2015 12:28 -0500It is important to note that the current weakness of gold is primarily in dollar and sterling terms. For investors in Canada, Australia, New Zealand and the EU gold is once again acting as a hedge.
Microsoft Just Gave Brazilian Consumers A Stunning Inflationary Wake Up Call
Submitted by Tyler Durden on 11/10/2015 19:30 -0500
Frontrunning: November 10
Submitted by Tyler Durden on 11/10/2015 07:34 -0500- Bonds Rise as China Drags Down Metals, Selloff in Stocks Resumes (BBG)
- European Stock Rally Runs Out of Steam Amid China Growth Concern (BBG)
- Obama's immigration action blocked again; Supreme Court only option left (Reuters)
- Ukraine: Cyberwar’s Hottest Front (WSJ)
- With $170.4 Million Sale at Auction, Modigliani Work Joins Rarefied Nine-Figure Club (NYT)
- IEA Sees OPEC Market Share Growth in 2020 as Rivals Stagnate (BBG)
Warning: Your Deposits Can and Will Be Used to "Bail-In" the Big Banks
Submitted by Phoenix Capital Research on 11/06/2015 09:33 -0500In the last 24 months, Canada, New Zealand, the US, the UK, and now Germany have all implemented legislation that would allow them to first FREEZE and then SEIZE bank assets during the next crisis.
- Phoenix Capital Research's blog
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ObamaTrade Details Unveiled, Officials Warn "It's Worse Than We Thought"
Submitted by Tyler Durden on 11/05/2015 15:10 -0500"The Trans-Pacific Partnership means that America will write the rules for 21st century trade," according to President Obama, but as Reuters reports, U.S. unions, lawmakers and interest groups questioned the long-awaited text of a landmark U.S.-backed Pacific trade deal on Thursday. "It's worse than we thought,” Lori Wallach, director of Public Citizen’s Global Trade Watch, told members and U.S. labor representatives said the agreement contained weak, poorly worded or unenforceable provisions, concluding "we do not believe those improvements are significant or meaningful for workers." It appears, that ObamaTrade may be a boon for factory and export economies like Malaysia and Vietnam, but - as expected - will achieve little for the average joe in America.
You Will Not Be Warned When the Bank Holidays Come
Submitted by Phoenix Capital Research on 11/03/2015 13:50 -0500You will not be warned of the risks to your wealth by anyone in a position of power in the political financial hierarchy.
"Social Expenditures" In the US Are Higher Than All Other OECD Countries, Except France
Submitted by Tyler Durden on 11/01/2015 15:45 -0500While redistributive social spending in the US is indeed different from many other countries, the overall magnitude is actually greater (both proportionally and in absolute terms) in the US than in almost all other countries measured. One can argue that the way that the wealth is redistributed through public policy in the US is "wrong" or "suboptimal." But, to argue that there is less redistribution as a result of public policy in the US than elsewhere is simply wrong.
China's Manufacturing Misses; Nonmanufacturing Worst Since 2008 Despite Unprecedented $1 Trillion "Debt Injection"
Submitted by Tyler Durden on 11/01/2015 08:38 -0500The most anticipated economic release over the weekend was the early glimpse into China's manufacturing and non-manufacturing sectors via the two key PMI surveys released by China's National Bureau of Statistics, to get a sense if the slowdown across China is stabilizing or, as some have suggested, rebounding. It did not: overnight the NBS reported that the manufacturing PMI remained unchanged in October at 49.8 missing consensus estimates of a modest rebound to 50.0, its third consecutive month in contraction territory.
Mother Yellen's Little Helper - The Rate-Hike Placebo Effect
Submitted by Tyler Durden on 10/30/2015 14:10 -0500Americans are increasingly likely to respond positively to a placebo in a drug trial – more so than other nationalities. That’s the upshot of a recently published academic paper that looked at 84 clinical trials for pain medication done between 1990 and 2013. These findings, while bad for drug researchers, does shed some light on our favorite topic: behavioral finance. Trust and confidence makes placebos work, and those attributes also play a role in the societal effectiveness of central banks. That’s what makes the Fed’s eventual move to higher rates so difficult; even if zero interest rates are more placebo than actual medicine, markets believe they work to support asset prices.
Gold Up 3% In October and Enters “Seasonal Sweet Spot”
Submitted by GoldCore on 10/30/2015 09:09 -0500Gold is up 3.1% in October and had even larger gains in other currencies. Entering gold’s “seasonal sweet spot” in November, December, January and February.
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Futures Fade Overnight Ramp After BOJ Disappoints, Attention Returns To Hawkish Fed
Submitted by Tyler Durden on 10/30/2015 06:02 -0500- Bank of Japan
- Bond
- Central Banks
- Chicago PMI
- China
- Consumer Confidence
- Consumer Prices
- Consumer Sentiment
- Copper
- Core CPI
- CPI
- Crude
- Crude Oil
- default
- Equity Markets
- Exxon
- Federal Reserve
- goldman sachs
- Goldman Sachs
- High Yield
- Hong Kong
- Initial Jobless Claims
- Italy
- Janet Yellen
- Japan
- Jim Reid
- Michigan
- Monetary Base
- Monetary Policy
- New Zealand
- Nikkei
- Nominal GDP
- Personal Consumption
- Personal Income
- PIMCO
- Portugal
- Price Action
- RANSquawk
- RBS
- recovery
- Renminbi
- Unemployment
- University Of Michigan
- Wall Street Journal
- Yen
Back in September we explained why, contrary to both conventional wisdom and the BOJ's endless protests to the contrary, neither the BOJ nor the ECB have any interest in boosting QE at this - or any other point - simply because with every incremental bond they buy, the time when the two central banks run out of monetizable debt comes closer. Since then the ECB has jawboned that it may boost QE (but it has not done so), and overnight as reported previously, the BOJ likewise did not expand QE despite many, including Goldman Sachs, expecting it would do just that.
Australia Proposes Eliminating Passports. There's Just One Problem...
Submitted by Tyler Durden on 10/29/2015 18:30 -0500Passports are nothing more than a form of control - a way to obtain oodles of personal information and to restrict one of the most basic freedoms of humanity - the freedom to move. So you can imagine how excited we were when we read about Australia’s government announcing a program to eliminate passports. Great news, right? Well, no...
Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs, Exit 10 Countries In Sweeping Overhaul
Submitted by Tyler Durden on 10/29/2015 06:53 -0500As tipped earlier this month, Deutsche Bank just turned in a Q3 loss of €6 billion as a raft of writedowns hit the bottom line. The bank also announced more details of "Strategy 2020", which include layoffs and a corporate rethink that will see Europe's largest bank exit a multitude of markets.




