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Tag Archives: equity markets
What If There Is No “Fed Put” – Paul Brodsky Thinks Yellen Will Not Bailout Markets This Time
What If There Is No “Fed Put” – Paul Brodsky Thinks Yellen Will Not Bailout Markets This Time Earlier today, Art Cashin summarized most (very desperate) traders’ thoughts when he said that as a result of today’s market crash, “the Fed will try anything” to prop up the wealth effect it had so carefully engineered with seven […]
Petro States Dipping Into Coffers As Oil Price Reality Kicks In
Petro States Dipping Into Coffers As Oil Price Reality Kicks In Fifty-two years after Johnny Cash’s “Ring of Fire” became the first country album to top the US pop album chart, and the crude complex is stuck in a vicious circle once more. We have nada-nothing-nil on the economic data front today, as is the […]
One Way to Unrig Stock Trading
One Way to Unrig Stock Trading AMERICA’S equity markets are broken. Individuals and institutions make transactions in rigged markets favoring short-term players. The root cause of the problem is that stocks trade on numerous venues, including 11 traditional exchanges and dozens of so-called dark pools that allow buyers and sellers to work out of the […]
Oil Bankruptcies Hit Highest Level Since Crisis And There’s “More To Come”, Fed Warns
Oil Bankruptcies Hit Highest Level Since Crisis And There’s “More To Come”, Fed Warns “Two things become clear in an analysis of the financial health of US hydrocarbon production: 1) the sector is not at all homogenous, exhibiting a range of financial health; 2) some of the sector indeed looks exposed to distress [and] lifelines […]
This Is What Happened The Last Time The Fed Hiked While The U.S. Was In Recession
This Is What Happened The Last Time The Fed Hiked While The U.S. Was In Recession Back on June 17, Bank of America started its 66-day countdown to the moment it was convinced the Fed would hike rates, September 17, 2015. We, correctly, said that “we disagree entirely” with BofA’s conclusion that the Fed would hike rates, and […]
Equity Markets and Credit Contraction
Equity Markets and Credit Contraction There is one class of money that is constantly being created and destroyed, and that is bank credit. Bank credit is created when a bank lends money to a customer; it becomes money because the customer draws down this credit to deposit in other bank accounts and to pay creditors. […]
Fraud, Fools, and Financial Markets
Fraud, Fools, and Financial Markets Adam Smith famously wrote of the “invisible hand,” by which individuals’ pursuit of self-interest in free, competitive markets advances the interest of society as a whole. And Smith was right: Free markets have generated unprecedented prosperity for individuals and societies alike. But, because we can be manipulated or deceived or […]
Oil Price Increase Will Not Come Fast Enough To Save Alberta
Oil Price Increase Will Not Come Fast Enough To Save Alberta “There’s just no cash.” That’s the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Alberta’s leading lenders. There’s simply not enough cash flow to support current levels of debt. Bankers and borrowers have kicked […]
Equity markets and credit contraction
Equity markets and credit contraction There is one class of money that is constantly being created and destroyed, and that is bank credit. Bank credit is created when a bank lends money to a customer; it becomes money because the customer draws down this credit to deposit in other bank accounts and to pay creditors. […]
China Takes “10 Steps Back,” Slaps 20% Reserve Requirement On Currency Forwards
China Takes “10 Steps Back,” Slaps 20% Reserve Requirement On Currency Forwards Overnight, China decided to take steps to reduce “macro financial risks.” And by that they mean “do something quick to help ease pressure on the yuan” and by extension, on the PBoC’s rapidly depleting FX reserves. To that end, starting October 15 banks will […]
What If The “Crash” Is as Rigged as Everything Else?
What If The “Crash” Is as Rigged as Everything Else? Take your pick–here’s three good reasons to engineer a “crash” that benefits the few at the expense of the many. There is an almost touching faith that markets are rigged when they loft higher, but unrigged when they crash. Who’s to say this crash isn’t […]
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows Chinese stocks opened lower, extending yesterday’s losses, after The PBOC weakened its Yuan FIX dramatically for the 2nd consecutive day(from 6.1162 Monday to 6.2298 last night to 6.3306). Offshore Yuan fell another 9 handles against the USD after China […]
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral As far-fetched as the notion may be to those who are wedded – by choice, by misguided beliefs, or by virtue of being completely beholden to the perpetuation of the status quo – to idea that the dollar will forever retain its status […]
The Irony Of Market Manipulation
The Irony Of Market Manipulation Having gazed ominously at the extreme monetary policy smoke-and-mirrors intervention in bond markets, and previously explained that “the stock market is to important to leave to the vagaries of an actual market.“ While the rest of the world’s central banks’ direct (BoJ) and indirect (Fed, ECB) manipulation of equity markets, nobody bats an eyelid; but […]
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red For the first half an hour after China opened, things looked bleak: after opening down 5%, the Shanghai Composite staged a quick relief rally, then tumbled again. And then, just around 10pm Eastern, we saw acoordinated central bank intervention stepping […]
