"The US and Japan are reaping the consequences of out-of-control spending and manipulative economic practices. Unless policies change, these debts will become insurmountable, and major financial crises will be the consequence."
"A lot of investors that we speak with, when I ask them ‘Where would you want to enter the market and start to buy Treasuries?’ you’re typically hearing numbers like 3 percent on the 10-year, 3.25 percent on the 30-year."
"They had to kill the markets to create the illusion that there still were markets. With the implied promise that they would be able to get out when they had ‘restored growth’. But you can’t buy growth. And yet that is the only trick they have up their sleeves, and the only thing the emperor is wearing."
Just two weeks after John Cryan's ouster, Bloomberg reports that, according to people familiar with the matter, Deutsche Bank is considering extensive cuts to its cash equities business in the U.S..
While traders have been closely following the push higher in 10Y yields, which this morning rose as high as 2.996% before fading, as well as the dramatic short squeeze in the dollar, they may be ignoring the one asset class that is behind both moves: crude oil.
Goldman has hired Justin Schmidt as its new head cryptocurrency trader. Schmidt previously worked at quantitative trading firms Seven Eight Capital LLC and WorldQuant LLC and has computer science degrees from the Massachusetts Institute of Technology
While focus this week will undoubtedly fall on earnings with 181 S&P companies set to report Q1 results, there is also a busy economic calendar on deck with US Core PCE, real GDP, UK GDP, CPI and PMI across the euro area; and CPI inflation data in Australia.
Global stocks stumbled on Monday ahead of an avalanche of earnings in this season's busiest reporting week but the big story overnight was the spike in 10Y Yield which climbed as high as 2.9957%, the highest level since January 2014.
"Now the war on cash is being taken to a new level. China, the world’s most populous country and the world’s second-largest economy, has said that physical cash may soon become obsolete."
"The key story to play out very soon in the back-end of the curve is the pension reallocation out of equities and into long duration bonds prompted by tax reform." - BofA
"Hacked emails released by the group Anonymous indicated that Palantir...pitched outside lawyers... on a plan to snoop on the families of progressive activists, create fake identities to infiltrate left-leaning groups, scrape social media with bots, and plant false information with liberal groups to subsequently discredit them..."
" Though the TIC data provides nothing more than a rough and limited proxy for eurodollar flows and conditions, there might be enough here anyway to pin the liquidations almost entirely on Japanese banks."
