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“This Is A Red Line”: Beijing Warns Trump Trade Deal Is Off If US Imposes Tariffs
“This Is A Red Line”: Beijing Warns Trump Trade Deal Is Off If US Imposes Tariffs In a scathing editorial warning Trump to back off on his latest tariff threat, on Sunday China said that any trade deals between the US and China, and any progress and commitments made so far in bilateral negotiations would […]
Global Markets Descend Into Contagious Panic As Italy Implodes
Global Markets Descend Into Contagious Panic As Italy Implodes Commenting on today’s sheer market chaos as the US and UK return from holiday, Bloomberg writes that “fixed-income markets have descended into panic amid mounting concern over the risk of Italy leaving the euro or leading to its break-up” and while Italy is suffering the biggest […]
Ex-Venezuela Oil Boss: PDVSA Is Collapsing
Ex-Venezuela Oil Boss: PDVSA Is Collapsing The man who ran Venezuela’s state oil company PDVSA for a decade after 2004 says that the country’s oil firm is on the cusp of total collapse and expects oil production to drop by 600,000 bpd each year amid lack of investment. Rafael Ramirez, who has long been a […]
Catastrophic Cyberattacks Threaten Big Oil
Catastrophic Cyberattacks Threaten Big Oil There are over a million oil and gas wells in the United States. There are also several hundred thousand miles of pipelines. Digitization is on the rise in the notoriously conservative oil and gas industry as companies wake up to the cost and operational efficiency boost that sensors and algorithms […]
Markets Better Prepare for Stagflation
Markets Better Prepare for Stagflation By all metrics, prices are heating up. But the same can’t be said for economic activity. Pray for Jerome Powell. Photographer: Andrew Harrer/Bloomberg Investors better wake up to the growing risk of stagflation. The coming weeks promise to deliver the verdict on how they should be positioned. By […]
China Vows To “Firmly Attack” Trump Tariffs “To The End At Any Cost”
China Vows To “Firmly Attack” Trump Tariffs “To The End At Any Cost” China has responded to President Trump’s calls for an additional $100 billion in tariffs, saying that it would counter U.S. protectionism “to the end, and at any cost.” “The Chinese side will follow suit to the end and at any cost, and […]
The Two Janet’s And The Perfect Storm Ahead
The Two Janet’s And The Perfect Storm Ahead The Bloomberg news crawler this morning is heralding the heart of our thesis: Namely, that “flush with cash from the tax cut”, US companies are heading for a “stock buyback binge of historic proportions”. This isn’t a “told you so” point. It’s dramatic proof that corporate America has […]
Indian Banks Face Crippling Credit Crunch As PNB Scandal Worsens
Indian Banks Face Crippling Credit Crunch As PNB Scandal Worsens The biggest financial fraud in India’s history just got bigger. On Monday, Punjab National Bank disclosed that a fraud previously believed to be $1.7 billion had swollen to $2 billion as the true extent of the fraud is still coming into focus. But the impact […]
Bank Bail-In Risk In Europe Seen In 5 Charts
Bank Bail-In Risk In Europe Seen In 5 Charts – Nearly €1 trillion in non-performing loans poses risks to European banks’ – Greece has highest non-performing loans as a share of total credit – Italy has the biggest pile of bad debt in absolute terms – Bad debt in Italy is still “a major problem” which has […]
Russia Warns US To “Stop Playing With Fire” In Syria, Immediately Leave Area It Controls
Russia Warns US To “Stop Playing With Fire” In Syria, Immediately Leave Area It Controls Two weeks after a US B-52 strike killed scores of Russian mercenaries in Syria, which according to Bloomberg and Reuters were are as many as 200, while Russia said no more than 5 Russians were killed in the attack then […]
‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far
‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far Cash usage declining both as share of GDP and in nominal terms Riksbank committee could publish report on issue in summer Sweden ‘Most Cashless’ Society in the World The value oof notes and coins in circulation are the lowest in nearly 30 years. Bloomberg’s […]
Brazilian Army Ordered To “Restore Order” In Rio De Janeiro
Brazilian Army Ordered To “Restore Order” In Rio De Janeiro With public spending on police and social services collapsing amid Brazil’s worsening economic crisis, violent crime has crept back up in Rio de Janeiro, a city widely recognized for its favelas – urban hillside slums teeming with violence, drugs and prostitution, according to Bloomberg. And […]
China’s Plunge Protection Team Arrives: Urges Companies To Boost Stocks, “Avoid Selling”
China’s Plunge Protection Team Arrives: Urges Companies To Boost Stocks, “Avoid Selling” Over the weekend, we along with Bank of America and probably most carbon-based traders wondered if any central bank or government official would step up on Monday and intervene in the markets, either verbally or directly. The answer emerged overnight, when China officially […]
