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Gold Rallies As Stocks Suffer Worst Day Of 2013
Following Europe's worst day in months, the US stock markets saw the biggest drop of 2013 today. For those shunning the brief period, aside from 12/28 swings, this is the worst drop in the S&P 500...
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YUM Fried As China Same-Store-Sales Crash; Expects EPS Decline In 2013
While it was relatively well-known (or expected) that YUM's China business was hurting (after its PR snafu), this is considerably worse than expected (hoped for). Revenues and earning met considerably...
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Treasury Forecasts $16.763 Trillion In Debt On March 31 Translating To 105%...
Earlier today the US Treasury released its latest Borrowing Estimates for Q1 and Q2 of calendar 2013. In brief: in the ended quarter, the Treasury borrowed some $297 billion, $9 billion more than the...
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The Second Housing Bubble Ends With A Bang, Not A Whimper, David Stockman Warns
Following our earlier discussion of the echo-boom in housing, David Stockman appeared on Yahoo's Daily Ticker with Lauren Lyster to pour come much-needed cold water 'reality' onto the hopes of an...
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Spain: No Mas
The accusations of corruption against senior Popular Party officials, including Spanish Prime Minister Rajoy would not have necessarily been market move. The accusations raise more questions than...
View ArticleGuest Post: It’s About Time - JP Morgan To Enter The Housing Slumlord Trade
Via Michael Krieger of Liberty Blitzkrieg blog,It was just a matter of time before the most powerful crony capitalist bank in America decided to join the housing trade. Making money running the food...
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CMBS Cash Flow Crunch Looms As 'Retail' Mall Vacancies Set To Surge
In the same way as any and every risk-asset in the world, the price of yield-providing CMBS (commercial mortgage backed securities) have risen to post-crisis highs in the last few months. These are...
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Europe's WTF Chart
Much has been made of Europe's impressive market performance last year (and ongoing this year) with its strength yet another confirmation-bias proving indication that every US stock dip should be...
View Article16 Reasons Why David Rosenberg's Not Buying Employment Report
Via Lance Roberts of Street Talk Live,I went through the January data one last time with a fine tooth comb. I fail to see what got everyone so excited, beyond the upward revisions to the back data....
View ArticleGuest Post: Congratulations Charlottesville, Virginia! The First City To Pass...
Via Michael Krieger of Liberty Blitzkrieg blog,This simple piece of legislation proves that you can make a difference at the local level. We need a lot more of this type of thing all over these United...
View Article"Brace For A Stock Market Accident", GLG Chief Investment Officer Warns
Authored by Jamil Baz (CIO, GLG), Originally posted at The FT,Brace For A Stock Market AccidentProfits and leverage are locked in a deadly embraceThere is a time-honoured tradition in statistics:...
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How Obama's Balanced "Tax-Loophole" Closing Will Crush S&P Earnings
Following today's sequester-delay-seeking, tax-hiking, close-the-loophole speech by the President, it would appear that fiscal policy debates will be balanced a little more to raising effective rates...
View ArticleAbe Says Fears Of Hyperinflation Are "Mostly" Unfounded As He Urges Companies...
How does the saying go: it is better to keep your mouth shut and be thought a clueless Keynesian muppet than to open it and remove all doubt? Sure enough, if there was any confusion as to the level of...
View ArticleFed Confirms It Was Hacked By Anonymous
As was reported on Monday, among the numerous files hacked and leaked in the past week by the Hacker group Anonymous was a database of some 4606 regional bankers together with copious amounts of...
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The White House is "Judge, Jury and Executioner" of Both Drone and Cyber-Attacks
NBC News reports:Legal experts expressed grave reservations Tuesday about an Obama administration memo concluding that the United States can order the killing of American citizens believed to be...
View ArticleConflicts of Interest
Two examples today of the strange way things work here in the Netherlands regarding conflicts of interest. Of course we know that things are getting increasingly blurry wherever you are between...
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Where The Consensus Is... Wrong
The equity markets, despite a verey modest drop so far today, continue to hang in despite slowing profits growth. David Rosenberg notes that while many tout the +6% YoY earnings growth being better...
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CME Cuts Gold, Silver Margins
Any trader of paper gold and silver will likely never forget the endless and certainly parabolic barrage of margin hikes that the CME imposed in the spring and summer of 2011 which had only one...
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DOJ Scrambles To Appear Impartial, Says "Don't Think Moody's Is Off The Hook"
While Moody's slipped over 20% when the DoJ announced its cajillion dollar lawsuit against S&P for knowing the crisis was coming but not telling anyone, it later bounced back over 10% as investors...
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