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Dallas Fed “Responds” To Zero Hedge FOIA Request
Dallas Fed “Responds” To Zero Hedge FOIA Request Two weeks ago, Zero Hedge reported an exclusive story corroborated by at least two independent sources, in which we informed our readers that members of the Dallas Federal Reserve had met with bank lenders with distressed loan exposure to the US oil and gas sector and, after parsing through […]
Italian Banks Sink As “Bad Bank” Plan Underwhelms
Italian Banks Sink As “Bad Bank” Plan Underwhelms Last week, we noted that Italy is rushing to defuse a €200 billion time bomb in the country’s banking sector as investors fret over banks’ exposure to souring loans. “Italian banks’ share prices have been volatile YTD, given the market’s renewed fears over asset quality and potential developments on […]
Why A Former Fed Official Fears A Global Meltdown
Why A Former Fed Official Fears A Global Meltdown Authored by Gerald O’Driscoll, former vice president at The Dallas Fed, posteed op-ed at The Wall Street Journal, Are we headed for another global financial crisis? The market convulsions of the past week reflected a continuation of a market selloff that began on the first trading day […]
Maduro “Wake Up” Call For OPEC As Venezuela Crude Crashes To 13 Year Lows
Maduro “Wake Up” Call For OPEC As Venezuela Crude Crashes To 13 Year Lows Venezuela’s crude oil basket price collapsed to as low as $20.20 yesterday, according to the socialist utopia’s President Maduro. Having already “passed the point of no return,” Maduro rages that OPEC producers appear to be “finally waking up” to what they have unleashed […]
A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away”
A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away” Over the course of the last several weeks, we’ve spent quite a bit of time sounding the alarm bells on America’s growing list of bankrupt oil and gas drillers. We’ve also been keen to point out that the long list of […]
Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount
Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount Italian bank stocks are crashing (with BMPS down 40% year-to-date) as Reuters reports that investors are growing increasingly nervous about how the sector will cope with lower interest rates and a 200 billion euro ($218 billion) pile of loans that are unlikely to be repaid. The broad banking […]
Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears
Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears Earlier this week, before first JPM and then Wells Fargo revealed that not all is well when it comes to bank energy loan exposure, a small Tulsa-based lender, BOK Financial, said that its fourth-quarter earnings would miss analysts’ expectations because its loan-loss provisions would be higher […]
Last Bubble Standing
Last Bubble Standing EM debt bubble… emaciated, FX Carry… crucified, Crude…crushed, High yield bonds… burst, Chinese equities… blown, Trannies… trounced, Small Caps… slammed, Biotechs… busted, and FANGs finally FUBAR!But there is one big (very big) bubble left in the world that no one is talking about, and a rather large liquidity-busting pin beckons… In May 2015 we […]
After Noble, Here Are The Next 18 US Energy Companies To Be Junked
After Noble, Here Are The Next 18 US Energy Companies To Be Junked Following Noble Group’s downgrade to junk and “Enron moment,” we thought it worth considering who is next to be junked? Judging by the market’s expectations, there are now 110 credits that are rated “investment grade” but trade like junk, and as Markit’s Neil Mehta notes, this […]
Nigerian Currency Collapses After Central Bank Halts Dollar Sales To Stall “Hyperinflation Monster”
Nigerian Currency Collapses After Central Bank Halts Dollar Sales To Stall “Hyperinflation Monster” Having told banks and investors “don’t panic” in September, amid spiking interbank lending rates and surging default/devaluation risks, it appears the massive shortage of dollars that we warned about in December has washed tsunami-like ashore in oil-producing Nigeria. Following the Central bank’s decision this week to halt […]
The Cost Of China’s “Neutron Bomb” Exploding: $7.7 Trillion And Higher
The Cost Of China’s “Neutron Bomb” Exploding: $7.7 Trillion And Higher On Friday we presented Kyle Bass’ latest interview in which the Texas hedge fund manager explained the reasoning why he thought shorting the Yuan is the “greatest investment opportunity right now.” The crux behind the argument was well-known to Zero Hedge readers, namely China’s […]
Russell Napier Explains How The Decline Of The Yuan Destroys Belief In Central Banking
Russell Napier Explains How The Decline Of The Yuan Destroys Belief In Central Banking It’s Not a Pet, It’s a Falcon: How the decline of the RMB destroys belief in central banking and a successful reflation Turning and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot […]
