Frontrunning: February 4
EU Slashes 2016 Inflation Forecast to 0.5% as Growth Seen Slower (BBG)Bank of England cuts UK growth forecasts (FT)Investors Cast Wary Eye on Fed Rate Increases (WSJ)U.N. halts Syria talks as...
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It Was Never About Oil, Part 2: It Was Always Leverage & Volatility
Submitted by Jeffrey Snider via Alhambra Investment Partners,Part 1 here...The entire point of leveraged positions is the margin of safety. That is true on both sides of that equation, as for the...
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Hong Kong Real Estate Price Plunges 70% In Latest Government Land Sale
Two weeks ago, in our latest report on the Hong Kong housing market, we observed that according to the local Centaline Property Agency total Hong Kong property transactions in January were on track to...
View ArticleFed President and Assistant Treasury Secretary Says What Everyone Knows: We...
The President of the Federal Reserve Bank of Minneapolis – who oversaw the Troubled Asset Relief Program (TARP) as Assistant Secretary of the Treasury for Financial Stability (Neel Kashkari) – says...
View ArticleWhat’s Ailing the Largest Global Banks?
Below is the latest KBRA comment on the travails affecting the largest global banks. Global capital levels are at the highest levels ever, but investor confidence in the big banks is at an all time...
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The Good, The Bad, & The Ugly
Via NorthmanTrader.com,Nice rally off the lows in the past week just in time for OPEX. Yes the OPEX game is back in full swing and brought back hope amongst signs of bullish capitulation everywhere....
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The Next Shoe Just Dropped: Equity NAVs Of 348 CLOs Slide Below Zero; "Market...
At the peak of the last financial crisis, as the credit liquidation wave was jumping from one highly levered product to the next, one of the hardest hit sectors was the Collateralized Loan Obligations...
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Donald Trump Is Right: Here Are 100 Reasons Why We Need To Audit The Federal...
Submitted by Michael Snyder via The Economic Collapse blog,When a leading nominee for President gets something exactly right, we should applaud them for it. In this case, Donald Trump’s call to audit...
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3 Things: Earnings Lies, Profits Slide, EBITDA Is Bulls**t
Submitted by Lance Roberts via RealInvestmentAdvice.com,Earnings Worse Than You ThinkJust like the hit series “House Of Cards,” Wall Street earnings season has become rife with manipulation, deceit and...
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NY Times To Hillary: Release Those Damn Bank Speech Transcripts
Hillary Clinton is under the microscope. And rightfully so.At a time when the American electorate has definitively rejected the entrenched political establishment in favor of two so-called “protest...
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Japan Braces For A "Turbulent, Volatile" 10-Year Auction With First Ever...
Two days after Japanese yields plummeted on January 29, when the BOJ unexpectedly stunned the world by announcing negative interest rates, the Japanese government sold 10 Year Bonds at what was then a...
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As A Frenzied Wall Street Buys Shale Equity Offering At A Record Pace,...
If Saudi Arabia is shocked at the relentless ability of the U.S. shale "marginal producers" to continue pumping even with oil prices below breakeven costs for many (which as reported recently have...
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Why This Sucker Is Going Down - The Case Of Japan's Busted Bond Market
Submitted by David Stockman via Contra Corner blog,The world financial system is booby-trapped with unprecedented anomalies, deformations and contradictions. It’s not remotely stable or safe at any...
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Mystery HFT "Dude" Is Crushing The Turkey Stock Market
"There’s a giant bull in the [Turkey stock market] china shop," exclaims one trader, but (unsually for Turkey), "nobody knows anything for sure" about who he, she, or it is. As Bloomberg reports, a...
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The Shoe Keeps Dropping: CLOs With Negative Equity Soar By 30% In February To...
One month ago, we noticed the latest "shoe to drop" in the global credit rout, when as a result of soaring downgrades to energy companies' credit ratings, the Collateralized Loan Obligations (CLO)...
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It's Not Over Yet - Moody's Put Deutsche Bank On Review For Downgrades
In a worryingly coincidentally timed move, Moody's has put Desutche Bank on review for downgrade, citing "execution challenges" in its new strategic plan. The worrying aspect comes from the fact the...
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European Peripheral Corporate Bond Yields Tumble To Record Lows Ahead Of...
On the day Mario Draghi announced that the ECB would launch a historic corporate bond monetization program, the first of its kind, we said that we expect bond yields to tumble imminently as the market...
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2016: The End Of The Global Debt Super Cycle
Submitted by Etai Friedman via Palisade-Research.com,After the stock market crash of 1987, The Federal Reserve embarked on a path that led to the biggest debt bubble in the history of the world. The...
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USDJPY Crashes, Drags Equities With It As Gold Soars
Ever since the USDJPY breached the 110 support level three days ago for the first time in 17 months, the pressure on this all important FX carry cross has been rising, and then overnight, following the...
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The ECB Effect: European Telecom Issues Largest Ever Junk Bond After More...
Two weeks ago we previewed how, in the aftermath of the ECB's stunning announcement the hedge fund masking as a central bank would start buying investment grade corporate debt, it is only a matter of...
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