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Rate of Contraction Exceeds the Global Financial Crisis

April 23, 2020

Rate of Contraction Exceeds the Global Financial Crisis The US is suffering  the fastest deterioration in operating conditions for over 11 years. Markit reports Output Contracts at Fastest Pace in Survey History amid COVID19 pandemic . Key Findings Flash U.S. Composite Output Index at 27.4 (40.9 in March). New series low. Flash U.S. Services Business Activity Index at […]

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Citi: “We Have A Problem”

February 24, 2016

Citi: “We Have A Problem” In his latest must read presentation, Citigroup’s Matt King continues to expose and mock the increasing helplessness and cluelessness of central bankers, something this website has done since 2009 knowing full well how it all ends (incidentally not in a deflationary whimper, quite the opposite). Take Matt King’s September 2015 piece in which he […]

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Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount

January 18, 2016

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 […]

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After Noble, Here Are The Next 18 US Energy Companies To Be Junked

January 12, 2016

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 […]

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The Seventh-Largest Economy in the World Spirals Down

August 7, 2015

The Seventh-Largest Economy in the World Spirals Down HSBC, which knows a thing or two about the world, and about Brazil, is bailing out of Brazil. It’s unloading its “entire business in Brazil,” it said this week, including retail banking and insurance. It will hand its long list of wealthy clients and over 21,000 employees to Bradesco, […]

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Greek Stocks, Economy Collapse, Suffer Worst Declines In History

August 3, 2015

Greek Stocks, Economy Collapse, Suffer Worst Declines In History The Athens Stock Exchange reopened on Monday and unsurprisingly, some folks were selling. Trading was suspended five weeks ago after PM Alexis Tsipras’ dramatic midnight referendum call precipitated capital controls and a lengthy bank “holiday.” Shares opened lower by nearly 23% and the country’s banks traded limit-down, […]

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Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red

July 28, 2015

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 […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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