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What Next?
The global capital markets have reacted calmly to the Cyprus rejection of the terms of the 10 bln euro aid package. There is an ECB meeting today, which the Cyprus central bank governor is not...
View ArticleHope Of Good News From Moscow Sees Return Of Overnight Futures Ramp
The Cyprus finance minister Michael Sarris may or may not have submitted his resignation after the president formally declined to accept it, but now that he is back on the saddle he is back to...
View ArticleFrontrunning: March 20
Cyprus works on Plan B to stave off bankruptcy (AP)Cyprus seeks Russian bailout aid, EU threatens cutoff (Reuters)Freddie Mac Sues Multiple Banks Over Libor Manipulation (BBG)Bernanke Seen Keeping Up...
View ArticleGlobal Trade Bellwether FedEx Cuts Outlook, CapEx Forecast, Says May Ground...
We are lucky that in the new normal earnings, cash flows, news, and broadly reality, are completely irrelevant, and all that matters is the central bank-sponsored S&P multiple expansion (due to...
View ArticleWhen "Unique And Special Cases" Aren't
Submitted by Mark J. Grant, author of Out of the Box,Unique and Special CasesĀ Greece was a unique and special case. Cyprus is a unique and special case. One wonders, and with good reason, what or who...
View ArticleWhy We've All Been Cyprus'd For Years Already & How We Can Stop Being...
With all the scorn and indignation over the IMF and ECBās attempt to steal anywhere from 9.9% to 15.6% of all Cyprus bank accounts in excess of ā¬100,000, and rightfully so, one would think that...
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European "Rumor Leak, Denial" Trading Pattern Is Back
We already reported earlier that the only bid in the overnight session, aside from that of central banks of course, was courtesy of hopes that Russia would victoriously step in and gloriously deja vu...
View ArticleLarry Fink On Cyprus: "I Don't Really Care"
Blackrocks's Larry Fink "doesn't really care" about Cyprus, "it's really not something of concern," he tells Bloomberg TV. While gesturing that he can't really discuss specifics as Blackrock is an...
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WTF Chart Of The Day: China PMI Vs Electricity Production
HSBC's China Flash PMI just printed above expectations at 51.7, disappointing those hoping for more stimulus but just Goldilocks enough to satisfy the world that China is firing on all cylinders......
View ArticleBernanke Conference Recap: "Mr. Chairman: Do I Still Have Time To Get In The...
When someone tells the Fed Chairman, Ben Bernanke CFA, Series 7 and 63, certified, that "the stock market has been hitting all time highs, it's recovered all of its losses from the financial crisis"...
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Nine Pollution Picture Perfect Days In Beijing
While one night in Bangkok is enough for most, the following images (via Reuters) taken over nine days in Tiananmen Square, Beijing should highlight just how appalling the smog situation is in that...
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Thursday's Seven
A nervous calm continues to cast a pall over the capital markets. The US dollar is narrowly mixed, but within the ranges seen yesterday. Asian markets were mixed, new that HSBC's flash Chinese...
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No Overnight Futures Levitation Due To Abysmal European PMIs, Deteriorating...
Those wondering why the overnight ramp has not yet materialized despite promises from BOJ's new governor Kuroda to openly-endedly monetize Fukushima radiation if necessary in order to reflate the...
View ArticleFrontrunning: March 21
Euro zone call notes reveal extent of alarm over Cyprus (Reuters)Stagnant Japan Rolls Dice on New Era of Easy Money (WSJ)Cyprus, European data batters shares and euro (Reuters)UK cuts taxes to revive...
View ArticleECB Gives Cyprus March 25 Liquidity Ultimatum
As reported yesterday, Cyprus banks are now expected to reopen next Tuesday. We would boldly go ahead and take the under following overnight news that the ECB has once more escalated its political...
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Is This The New "Scariest" European Chart?
Until this past weekend, the scariest, and thus most important, chart relating to Europe, was that of European youth unemployment. And while its updates month after month showed a situation hopeless...
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Initial Claims Continue Grind Lower, Prior Revised Higher
With record numbers of people out of the labor force, and hundreds of thousands falling off each month, it is no surprise that the grind lower in initial claims continues - after all there is only so...
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Silver Slams Higher As Bitcoin Hysteria Shifts To Non-Electronic Money
It would appear that physical assets trump digital assets this morning in Europe as Silver has just spiked over 1% (and Gold back over $1615) as Bitcoins plunge on heavy volume... Did the Europeans run...
View ArticleEurope, Russia Reject Latest Cyprus Bailout Plan Before It Is Even Voted By...
Yesterday, when we described the latest Cyprus bailout proposal being (belatedly) debated by the Cyprus parliament and soon to be voted, we wondered how long before the Troika rejects it outright....
View ArticleFrontrunning: March 22
Cyprus targets big depositors in bank planĀ (FT)Merkel Vents Anger at Cyprus Over Bailout Plan as Deadline Looms (BBG)Russia rebuffs Cyprus, EU awaits bailout "Plan B" (Reuters)Russia Rejects Cyprus...
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