{"id":10447,"date":"2015-07-28T06:39:21","date_gmt":"2015-07-28T11:39:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10447"},"modified":"2015-07-28T06:39:21","modified_gmt":"2015-07-28T11:39:21","slug":"the-irony-of-market-manipulation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10447","title":{"rendered":"The Irony Of Market Manipulation"},"content":{"rendered":"

The Irony Of Market Manipulation<\/a><\/h3>\n

Having gazed ominously at the extreme monetary policy\u00a0smoke-and-mirrors\u00a0intervention in bond markets<\/a>, and\u00a0previously explained that\u00a0“the stock market is to important to leave to the vagaries of an actual market.<\/strong>“<\/em><\/a>\u00a0While the rest of the world’s central banks’ direct (BoJ) and indirect (Fed, ECB) manipulation of equity markets, nobody bats an eyelid; but when PBOC steps on market volatility’s throat (like a bull in a China bear store), people start complaining… finally. There is no difference – none! And no lesser Asian expert than Stephen Roach warns that we should be afraid, very afraid as he states,\u00a0the great irony of manipulation, he explains, is that “the more we depend on markets, the less we trust them.”<\/em><\/strong><\/p>\n

BoJ is directly buying Japanese Stocks and the\u00a0rest of the world’s central banks are buying bonds with both hands and feet<\/a>…\u00a0for the first time ever,\u00a0central banks are set to monetize all global government debt<\/a>, something we showed previously…<\/strong><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n

But with China’s heavy handed “measures” seemed to save the world<\/strong><\/a>\u00a0(until the last 2 days)…<\/p>\n

9-Jul-15<\/strong>\u00a0Thurs CSRC:
\n1) suspended reviews of IPOs & other secondary market fundraising activities from Jul 9;
\n2) asked listcos to choose 1 out of 5 measures (including share buyback by major shareholders, companies and senior executives, employee stock buyback
\nincentive & employee stock ownership) to protect share price.
\nChina Banking Regulatory Commission (CBRC):
\n1) allowed banks to roll over matured loans pledged by stocks;
\n2) encouraged banks to provide liquidity to China Securities Finance Corp Ltd. (CSFC) & offer financing to listed companies to buy back shares.
\nChina Insurance Regulatory Commission (CIRC): insurance asset mgt companies should not demand early repayment from brokers for debt products on margin financing.
\nMinister of Public Security & CSRC: to investigate malicious short selling activities on Jul 9.
\nState-Owned Assets Supervision & Admin Commission (SASAC): asked provincial SASACs to submit daily report if local SOEs\u2019 increased stock holdings starting Jul 9.
\nCSFC: issued Rmb80bn short-term note in interbank market on Jul 9, yield at 4.5% p.a., duration at 3 months; and will purchase mutual fund products to stabilize liquidity.<\/p>\n

<\/h1>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

The Irony Of Market Manipulation Having gazed ominously at the extreme monetary policy\u00a0smoke-and-mirrors\u00a0intervention in bond markets, and\u00a0previously explained that\u00a0“the stock market is to important to leave to the vagaries of an actual market.“\u00a0While the rest of the world’s central banks’ direct (BoJ) and indirect (Fed, ECB) manipulation of equity markets, nobody bats an eyelid; but […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7548,7574,7575,1719,124,130,1450,7576,452,927,2228,534,6048,7577,662,5587,7578,7579,2773,4318],"class_list":["post-10447","post","type-post","status-publish","format-standard","hentry","category-economics","tag-8-5","tag-bats","tag-blue-chips","tag-bond","tag-central-banks","tag-china","tag-equity-markets","tag-etc","tag-japan","tag-manipulation","tag-market","tag-monetary-policy","tag-none","tag-otc","tag-quantitative-easing","tag-shenzhen","tag-stephen-roach","tag-trading-systems","tag-volatility","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10447"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10447\/revisions"}],"predecessor-version":[{"id":10448,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10447\/revisions\/10448"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}