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Albert Edwards: “At This Point You Realize Something Has Gone Very Wrong”
Albert Edwards: “At This Point You Realize Something Has Gone Very Wrong” In his latest note published last week, SocGen’s Albert Edwards – never at a loss subjects that inspire his outrage – rages on the topic of Brexit, and specifically the often repeated assertion (discussed here as well), that post-Brexit referendum UK has lost […]
Albert Edwards: “Equity Investors Are Facing The Four Horsemen Of The Apocalypse”
Albert Edwards: “Equity Investors Are Facing The Four Horsemen Of The Apocalypse” Even SocGen’s Albert Edwards was surprised at how quickly his latest predication was validated. Recall that 3 weeks ago with the 10Y yield at 3.10%, with Edwards looking at the surge higher in 10Y Yields the SocGen strategist pointed out that the break […]
Albert Edwards: Why The Next Recession “Might Only Be Six Months Away”
Albert Edwards: Why The Next Recession “Might Only Be Six Months Away” SocGen’s Albert Edwards is out with a new note today – one which he says he wasn’t going to write – but felt compelled to do so anyway due to the ongoing rout in the US bond market, which has prompted the following […]
“The Nightmare Scenario” Revisited: Albert Edwards Lays Out The Next “Black Monday”
“The Nightmare Scenario” Revisited: Albert Edwards Lays Out The Next “Black Monday” Is it the onset of a recession or the fear of a recession that causes a crash? That is what SocGen’s bear (or, as he calls himself this time, wolf) Albert Edwards contemplated on the 30th anniversary of Black Monday, before reaching the […]
SocGen: “Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets”
SocGen: “Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets” With the ECB now unabashedly unleashing a bond bubble in Europe of which it has promised to be a buyer of last resort with the stronly implied hint that European IG companies should issue bonds and buy back shares, and promptly […]
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People The Swiss, the Finns, and the Ontarians may get their ‘Universal Basic Income’ but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash “vouchers” or “gift […]
Citi On Why Negative Rates Are Like Potato Chips: “No One Can Have Just One”
Citi On Why Negative Rates Are Like Potato Chips: “No One Can Have Just One” Now that Japan has let the negative rates genie out of the bottle, or as DB put it, ‘opened the Pandora’s Box‘ and in the process unleashed the latest global “silent bank run” and capital flight, prepare to hear a […]
Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens
Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens With Citi’s chief economist proclaiming “only helicopter money can save the world now,” and the Bank of England pre-empting paradropping money concerns, it appears that Australia’s largest investment bank’s forecast that money-drops were 12-18 months away was too conservative. While The Finns consider a “basic monthly income” for the entire […]
It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens
It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens With Citi’s chief economist proclaiming “only helicopter money can save the world now,”and the Bank of England pre-empting paradropping money concerns, it appears that Australia’s largest investment bank’s forecast that money-drops were 12-18 months away was too conservative. Over the last few months, in a prime […]
Presenting SocGen’s 5 Black Swans For 2016
Presenting SocGen’s 5 Black Swans For 2016 If you’re the type who likes black swans this has been the month for you. On the political front, Portugal’s Socialists, led by Antonio Costa, formed an alliance with the Left Bloc and the Communists on the way to overthrowing the Passos Coelho government and presaging a repudiation of Berlin’s brand […]
How China Cornered The Fed With Its “Worst Case” Capital Outflow Countdown
How China Cornered The Fed With Its “Worst Case” Capital Outflow Countdown Last week, in “What China’s Treasury Liquidation Means: $1 Trillion QE In Reverse,” we took a look at the potential size of the RMB carry trade, noting that according to BofAML, the unwind could, in the worst case scenario, be somewhere on the […]
Malaysia Meltdown: Asian Currency Crisis 2.0 Sends Ringgit, Stocks, Bonds Crashing
Malaysia Meltdown: Asian Currency Crisis 2.0 Sends Ringgit, Stocks, Bonds Crashing When China went the “nuclear” (to quote SocGen) devaluation route earlier this week in a last ditch effort to rescue its export-driven economy from the perils of an increasingly painful dollar peg, everyone knew things were about to get a whole lot worse for […]
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says Since the beginning of March when we first explained why QE (or at least some manner of “unconventional” monetary policy) may be inevitable in China, we’ve tracked developments around the country’s local government debt refi effort closely. For those in need of a […]
