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Tyler Durden's picture

Frontrunning: November 10





  • 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)
 
Phoenix Capital Research's picture

Warning: Your Deposits Can and Will Be Used to "Bail-In" the Big Banks





In 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.

 
 
Tyler Durden's picture

ObamaTrade Details Unveiled, Officials Warn "It's Worse Than We Thought"





"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.

 
Phoenix Capital Research's picture

You Will Not Be Warned When the Bank Holidays Come





You will not be warned of the risks to your wealth by anyone in a position of power in the political financial hierarchy.

 
Tyler Durden's picture

"Social Expenditures" In the US Are Higher Than All Other OECD Countries, Except France





While 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.

 
Tyler Durden's picture

China's Manufacturing Misses; Nonmanufacturing Worst Since 2008 Despite Unprecedented $1 Trillion "Debt Injection"





The 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.

 
Tyler Durden's picture

Mother Yellen's Little Helper - The Rate-Hike Placebo Effect





Americans 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.

 
GoldCore's picture

Gold Up 3% In October and Enters “Seasonal Sweet Spot”





Gold 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.

 
Tyler Durden's picture

Futures Fade Overnight Ramp After BOJ Disappoints, Attention Returns To Hawkish Fed





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.

 
Tyler Durden's picture

Australia Proposes Eliminating Passports. There's Just One Problem...





Passports 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...

 
Tyler Durden's picture

Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs, Exit 10 Countries In Sweeping Overhaul





As 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. 

 
Phoenix Capital Research's picture

We've All Been Warned (the Cyprus "Bail-In" Model is coming to a Country Near You)





If there's no risk of a systemic event, why are regulators moving to implement rules that would make it so firms and funds can freeze your money in the event of a crisis?

 
GoldCore's picture

EU Takes Countries To Court Over 'Bail-In' Laws





In the event of a systemic European banking crisis, however, laws could be changed at the stroke of a pen and “bail-in” mechanisms could become fully operational. Also, the comforting guarantee of €100,000 ($100,000 or £80,000) would likely be reduced in such a crisis.

 
Tyler Durden's picture

Superyacht Getaway Subs And Luxury Bomb Shelters: The Elite Are The Most Paranoid Preppers Of All





When it comes to “prepping”, many among the elite take things to an entirely different level. 

 
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