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“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 […]

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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 […]

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BofA’s Apocalyptic Forecast: Stocks Flash Crash, Bond Bubble Bursts In H1 2018, War May Follow

BofA’s Apocalyptic Forecast: Stocks Flash Crash, Bond Bubble Bursts In H1 2018, War May Follow Having predicted back in July that the “most dangerous moment for markets will come in 3 or 4 months“, i.e., now, BofA’s Michael Hartnett was – in retrospect – wrong (unless of course the S&P plunges in the next few […]

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BofA: “Central Banks Are Now In A Desperate Dilemma”…”Start Buying Volatility”

BofA: “Central Banks Are Now In A Desperate Dilemma”…”Start Buying Volatility” One week after the second biggest weekly inflow to Wall Street on record, the “risk on” rotation ended abruptly in the ensuing five days, when as Bank of America writes overnight, it observed “Inflows to structural “deflation”, outflows from cyclical “inflation”; with oil the […]

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Is The Oil Crash A Result Of Excess Supply Or Plunging Demand: The Unpleasant Answer In One Chart

Is The Oil Crash A Result Of Excess Supply Or Plunging Demand: The Unpleasant Answer In One Chart One of the most vocal discussions in the past year has been whether the collapse, subsequent rebound, and recent relapse in the price of oil is due to surging supply as Saudi Arabia pumps out month after […]

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Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns

Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns In 66 trading days on September 17, 2015, the Federal Reserve will, according to Bank of America, hike rates for the first time since 2006, which according to BofA will “end the era of excess liquidity.” We disagree entirely, but let’s hear […]

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The Biggest “Hamilton Oil Shock” In History

The Biggest “Hamilton Oil Shock” In History Slowly but surely, the narrative that plummeting oil prices is “unambiguously good” for the economy is fading into obscurity, as reality is starting to emerge. For the latest capitulation we go to the Bank of America chart of the day which shows that the current Hamilton Oil Shock […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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