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Archive Monthly Archives: September 2018

"We Have Really Lost Our Way" – Trader Laments Market's Risk Ignorance

“BTFD”, “Goldilocks”, “Climbing a wall of worry”, “Powell Put”, “Trump Put”, “It’s different this time.” The excuses to buy stocks – no matter what headline tape bomb explodes – grow longer and more desperate as asset-gatherers and commission-takers know the end is nigh (and judging by the level of insider-selling, so do C-level execs). Of […]

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Here's The Reason Why Dollar Funding Costs Are Exploding

With the market’s attention yesterday focused on the historic Kavanaugh hearing, it is understandable that the biggest markets story slipped by largely unnoticed: as we noted yesterday morning, that was the sudden spike wider in various dollar basis swaps (i.e. funding costs), amid what appeared to be a widespread, dollar shortage. Specifically, the cost to […]

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"Baffling" Surge In Oman Crude Price Sends Oil Market Into "Turmoil"

While oil traders have been generally punting to the “November Iran sanctions” as the reason why in recent weeks a bevy of $100 oil forecasts have emerged (even if Goldman disagrees), a more immediate cause for the prevailing oil price bullishness has emerged in recent days and it has to do with Oman oil – […]

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Pending Home Sales Plunge In August Led By Collapse In West

Pending home sales plunged in August, dropping 1.8% MoM (almost four times worse than expected) to its lowest since Oct 2014 (and fell 2.5% YoY) – the fourth month of annual declines in a row… As Bloomberg notes, the decline, which was broad-based across all four regions, shows that higher mortgage rates, rising prices and […]

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'They' Want You To Do As 'They' Say, Not As 'They' Do

Authored by Jim Quinn via The Burning Platform, “Facts are threatening to those invested in fraud.” ― DaShanne Stokes Insiders at US companies unloaded $5.7 billion of their company stock this month, the highest in any September over the past decade, according to TrimTabs Investment Research.  Insiders, which include corporate officers and directors, sold over $10 billion […]

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Secretive Crypto Firm Opens Books For 1st Time To Reveal Enormous Profits

Crypto prices surged on Wednesday after Beijing-based Bitmain published its long awaited IPO prospectus, publicly disclosing for the first time just how enormously profitable the purveyor of crypto mining rigs and chips has become since it was founded in 2013 by crypto billionaires Jihan Wu and Micree Zhan. The company, which controls roughly 85% of […]

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"What Were You Thinking?"

Submitted by The Macro Tourist   The other day I was flipping through my database of research, saved quotes and most importantly – amusing pictures, and I stumbled upon this gem: I love this quote because it clearly shows the absurd valuation of SUN Microsystems at the height of the “DotCon” bubble. For those too […]

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Trade Wars Could Collapse US Car Sales And Slash 715K Jobs: It Would Trigger A "Downward Cycle"

The most significant and dangerous risks stem from policymaking. And on top of the list is, of course, the protectionist crusade of the Trump administration to disrupt the post–World War II global economic order the US was instrumental in building. The impact of President Trump’s escalating trade war with China is already being felt, auto […]

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Dollar Shortage Returns: Basis Swaps Snap Wider

In the aftermath of the Fed’s latest rate hike on Wednesday, which despite a hawkish dot plot was dovish in its removal of the “accommodative” language – a staple of the ZIRP period over the last decade – there was some immediate market confusion as to what the US dollar should do next, with a […]

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Exposing The Neofeudal Privileges Of Class In America

Authored by Charles Hugh Smith via OfTwoMinds blog, Want to understand the full scope of neofeudalism in America? Follow the money and the power and privilege it buys. The repugnant reality of class privilege in America is captured by the phrase date rape: the violence of forced, non-consensual sex is abhorrent rape when committed by commoner […]

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