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Archive Monthly Archives: April 2018

Key Trendlines Are Being Tested

Via Dana Lyons’ Tumblr, Key trendlines are being tested – or broken – across the financial market spectrum. We would have titled this post “Trend-Setting”, except we already used that title for a post a few weeks ago. The genesis of that post — as with this one — was our weekly #TrendlineWednesday feature on […]

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WTI/RBOB Slide After Surprise Crude, Gasoline Builds; Record Production

WTI/RBOB prices have gone nowhere since  API reported a surprise crude build, but after last week’s across the board inventory draws, DOE reported surprise builds in crude and gasoline inventories and production hit a new record high, sending  prices lower. Bloomberg Intelligence’s Senior Energy Analyst Vince Piazza noted before the data hit that, propelled by […]

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Forget The 10-Year: "The Scariest Chart For Investors" Is The 2-Year Yield

For the past two months, we have repeatedly warned that the recent spike in ultra short-term yields as manifested by both the blow out in 3M USD Libor and the Libor-OIS spread, has been an especially ominous move for the bond market as it confirms that funding conditions have become painfully tight for issuers of […]

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Bitcoin Tumbles Back Below $9,000 As Crypto Gets Clobbered

No obvious catalyst for the big drop this morning – aside from perhaps Chinese police seizing mining equipment in Tianjin – but Bitcoin Cash is plunging and Bitcoin is back below $9,000 as the entire crypto space is getting hit… Bitcoin Cash is getting hit hardest today as AntPool’s efforts fail..   And Bitcoin is […]

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Ex-UBS Trader Found Not Guilty Of Spoofing Precious Metals Markets

It’s no wonder Andre Flotron has such a big smile on his face… As we detailed previously, following news coverage of the charging of five precious metals traders and three banks in January, Commodities Futures Trading Commission and Department of Justice documents reveal a global criminal cabal of 16 traders operating in at least four major financial […]

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Jeff Bezos Booed By Amazon Workers

Jeff Bezos, the world’s richest man, has made Amazon shareholders extremely wealthy and happy in recent years, but when it comes to Amazon’s 566,000 employees, it’s a different matter entirely. Last week, Amazon finally disclosed its workers’ median annual salary, which at a paltry $28,446 put Amazon on par with Hershey, slightly above retailer Home […]

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Inflation Is Here.. Get Used To It!

Via Global Macro Monitor, I stopped to grab a burger in Marin County today and was kind of shocked to see the following posted on the front door… That is a pretty steep starting wage for non-skilled labor, and $5.00 more than the California minimum wage. In-N-Out does pay their employees well.  The private burger […]

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Macron Tells Trump To Reject Nationalism; Says France Will Not Leave Iran Deal

Speaking before a joint meeting of Congress on Tuesday, French president Emmanuel Macron reiterated that Paris wants to work on a new nuclear deal with Iran, which as we discussed earlier prompted confusion and anger among his European allies, and that France is not going to withdraw from the Iranian nuclear deal, also known as […]

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NYSE Suspends Trading Of Amazon, Alphabet For Rest Of Day

Reuters reports that The New York Stock Exchange says trading suspended in Amazon (AMZN), Booking Holdings (BKNG), Alphabet (GOOGL) and Zion Oil & Gas (ZNWAA) for the rest of the trading day due to a “price scale code issue.” BREAKING: NYSE says trading suspended in $AMZN, $BKNG, $GOOGL, $GOOG, $ZNWAA for balance of the trading […]

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"A Break Could Be HUUUGGGGE": Citi On The Real Number That Matters For Yields

The benchmark 10Y Treasury briefly topped 3.00%… and then faded back under failing to resolve the ongoing debate whether the breach of 3.00% will unleash a liquidation panic or, alternatively, a buying spree. Of course, the importance of 3% is more psychological than anything, and is merely a precursor to the real question that matters: […]

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