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Bank of America Accused of Political Debanking
Bank of America Accused of Political Debanking Bank of America is under fire from Republican AGs, accused of debanking based on political and religious beliefs. Bank of America is facing serious accusations of involvement in discrimination based on politics, religion, and ideology (i.e., speech expressing this), with the targets of “debanking” allegedly being some Christian […]
A historic global bond-market crash threatens liquidation of the world’s most crowded trades, says BofA
A historic global bond-market crash threatens liquidation of the world’s most crowded trades, says BofA ‘If the bond market does not function, then no other market functions, really,’ say Ben Emons of Medley Global Advisors A newspaper headline is shown after the Treaty of Versailles was signed in 1919. Global bonds are in one of […]
BofA: “Transitory Hyperinflation Ahead”
BofA: “Transitory Hyperinflation Ahead” Last week, when discussing the latest earnings call commentary, Bank of America said “Buckle up! Inflation is here”, and showed a chart of the number of mentions of “inflation” during earnings calls which exploded, more than tripling YoY per company so far, the and the biggest jump in history since BofA […]
BofA: We Are Witnessing The Biggest Asset Bubble Ever Created By A Central Bank
BofA: We Are Witnessing The Biggest Asset Bubble Ever Created By A Central Bank Back in March 2018, when commenting on what was then the 2nd longest central-bank induced bull market of all time (it is now the longest ever) Bank of America’s CIO Michael Hartnett pointed out that “bull market leadership has been in assets that […]
There Has Been Just One Buyer Of Stocks Since The Financial Crisis
There Has Been Just One Buyer Of Stocks Since The Financial Crisis Over the weekend we showed a chart which demonstrated that the bulk of the 21st century has been characterized by equity retail fund outflows offset by a tsunami of bond inflows, i.e. a reverse “great rotation.” The chart also illustrated that periods of “big bond inflows often […]
BofA: Central Banks Are Creating Bubbles Instead Of Helping The Economy; The Result Will Be A Disaster
BofA: Central Banks Are Creating Bubbles Instead Of Helping The Economy; The Result Will Be A Disaster In recent weeks we have seen a surprising spike in criticism of central banks by establishment figures, in some cases central bankers themselves, most notably Mark Carney who last Friday remarkably admitted that very low interest rates tend “to coincide […]
Bank of America: Selling Will Continue, “Big Low” For Stocks Is Yet To Come
Bank of America: Selling Will Continue, “Big Low” For Stocks Is Yet To Come Many economists and financial analysts have said that the economy isn’t doing as well as the talking heads on TV are proclaiming. And now, even the Bank of America says it’s time to prepare for an even lower stock market, as […]
Don’t Expect A Fed Bail Out: What Convexity Flows Mean For Repricing Of The “Fed Put”
Don’t Expect A Fed Bail Out: What Convexity Flows Mean For Repricing Of The “Fed Put” One of the major topics to emerge among financial professionals over the past week in the aftermath of the latest violent market move lower was whether the “Fed Put” would come into play, and at what level, and just […]
Did The Nasdaq Bubble Just Burst?
Did The Nasdaq Bubble Just Burst? Regular readers will recall when back in March, Bank of America cautioned that after the tech bubble in 2000, the housing bubble in 2006, we were witnessing the third biggest bubble of all time: the e-Commerce bubble. Well, after several weeks of sharp volatility which has hammered tech stocks, […]
Zero-Down Subprime Mortgages Are Back, What Could Possibly Go Wrong?
Zero-Down Subprime Mortgages Are Back, What Could Possibly Go Wrong? Ten years after the collapse of Lehman Brothers, banks are once again taking bets on the same type of loans that nearly collapsed the economy amid a flurry of emergency bailouts and unprecedented consolidations. Bank of America has backed a $10 billion program from Boston-based brokerage […]
Danske Bank – Who helped them Launder?
Danske Bank – Who helped them Launder? A couple of days ago the always good Francis Coppola wrote a piece for Forbes entitled, The Banks That Helped Danske Bank Estonia Launder Russian Money In it she made the simple but essential point that while Danske Bank, through its Estonian branch, had laundered $234 billion, …Danske Bank […]
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever For the first time, FX traders are grappling with wilder swings from China than Europe. As Bloomberg notes, the offshore yuan has been more volatile than the euro all month after first overtaking the shared currency in July, according to 30-day realized data. And while euro […]
“EM FX Never Lies” – BofA Warns As Brazilian Real Is Routed
“EM FX Never Lies” – BofA Warns As Brazilian Real Is Routed Mohamed El-Erian warned overnight that Brazilian policy makers are “in quite a tricky position — and there’s little room for error,” and judging buy this morning’s rout in the real, he is dead right. Crippling nationwide trucker strikes, which prompted the resignation of […]
BofA’s Striking Admission: Markets Will Soon Begin To Panic About Debt Sustainability
BofA’s Striking Admission: Markets Will Soon Begin To Panic About Debt Sustainability In the latest BofA survey of European fixed income investors (both IG and high yiled), the bank’s credit analyst Barnaby Martin writes that “after fretting about inflation at the start of the year, April’s credit survey shows that the biggest concern has reverted […]
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 […]
