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For The First Time Ever, Greece Issues Negative Yielding Debt
For The First Time Ever, Greece Issues Negative Yielding Debt As armies of fixed income strategists battle over whether US Treasuries are facing higher or lower yields, Greece has no such qualms and in a historic shift today, the former bond market pariah and Eurozone’s most indebted nation, joined the exclusive club of negative-yielding European […]
The Global Pastime Of Kicking The Can Down The Road
The Global Pastime Of Kicking The Can Down The Road Nowhere is the trend of kicking the can down the road more prevalent than in government. Consider this a tribute to politicians and governments everywhere that postpone and delay taking necessary actions. Frequently for politicians, the goal of being reelected takes priority over doing the right […]
Turkey Joins Russia’s Ruble-Based Alternative To SWIFT After repeated warnings over the past couple of years, Turkey and Russia have signed a pact to increase use of the ruble and lira in cross-border payments, with Turkey signing on to Russia’s alternative to SWIFT, the international telecommunications protocol used by banks and central banks the world over. […]
“Panic At The Repo”: One Of The World’s Top Repo Experts Explains What Really Happened
“Panic At The Repo”: One Of The World’s Top Repo Experts Explains What Really Happened Panic At The Repo As a professional trader, I keep an eye out for the next panic or market crisis. Since the beginning of my career, there was a crash or panic every few years in one market or another. […]
America’s Financial Suicide: The Budget Deficit Rises 26% In 1 Year As Federal Spending Spirals Wildly Out Of Control
America’s Financial Suicide: The Budget Deficit Rises 26% In 1 Year As Federal Spending Spirals Wildly Out Of Control We are in the process of committing national financial suicide, and most Americans don’t seem to care. As you will see below, the federal budget deficit for the fiscal year that ended on September 30th was […]
How the GDP Framework Creates the Illusion That By Means of Money Pumping the Central Bank Can Grow an Economy
HOW THE GDP FRAMEWORK CREATES THE ILLUSION THAT BY MEANS OF MONEY PUMPING THE CENTRAL BANK CAN GROW AN ECONOMY In response to a weakening in the yearly growth rate of key economic indicators such as industrial production and real gross domestic product (GDP) some commentators have raised the alarm of the possibility of a […]
“Close To A Standstill”: IMF Warns Global Growth Will Be Cut To Lowest Since Lehman
“Close To A Standstill”: IMF Warns Global Growth Will Be Cut To Lowest Since Lehman Don’t expect any good news next week when the IMF holds its annual meeting and releases its latest World Economic Outlook report due on October 15. According to the IMF’s new head, Bulgarian Kristalina Georgieva, the monetary fund will again […]
THE WOLF STREET REPORT: How the SoftBank Scheme Rips Open the Tech Bubble
THE WOLF STREET REPORT: How the SoftBank Scheme Rips Open the Tech Bubble The biggest force behind the startup bubble in the US has been SoftBank. But the scheme has run into trouble, and a lot is at stake (12 minutes).
Capital Flight Is Killing The US Shale Boom
Capital Flight Is Killing The US Shale Boom The growth in U.S. shale production is grinding to a halt as low prices put drillers in a financial vice. The slowdown has been unfolding for much of 2019, but the latest slide in oil prices is another blow to cash-strapped companies. Share prices for many E&Ps […]
China De-Dollarization Pushes Into Hyperdrive, Adds 100 Tons Of Gold Amid Trade War Chaos
China De-Dollarization Pushes Into Hyperdrive, Adds 100 Tons Of Gold Amid Trade War Chaos As the trade war continues to escalate, China’s rapid move towards de-dollarization continues. China added more than 100 tons of gold to its reserves since December 2018 and has also been divesting US Treasuries. Bloomberg reported the People’s Bank of China acquired 188,800 ounces, […]
Markets Rely on Accurate and Honest Information — But Governments Want the Opposite
Markets Rely on Accurate and Honest Information — But Governments Want the Opposite Have you ever worked with people you couldn’t trust to tell you the truth? It isn’t pretty. Without the ability to rely on what you’ve been told (or that you’ve been told everything relevant), effective cooperation at almost every margin of choice […]
The Punishing Consequences of Global Currency Wars, Visualized
The Punishing Consequences of Global Currency Wars, Visualized As I’ve traveled throughout Asia over the past decade, I’ve noticed that the punishing consequences of global currency wars, in which Central Bankers have greatly devalued the purchasing power of all currencies around the world, can be observed not just when spending money to purchase goods and […]
“Money’s Not Worth Anything Anymore” – Ex-Credit Suisse CEO Blasts “Crazy” Negative Rates
“Money’s Not Worth Anything Anymore” – Ex-Credit Suisse CEO Blasts “Crazy” Negative Rates Oswald Gruebel, who served as Credit Suisse CEO from 2004 to 2007 and as UBS Group AG’s top executive from 2009 to 2011, has slammed ECB policy in an interview with Swiss newspaper NZZ am Sonntag. “Negative interest rates are crazy. That means […]
