Biggest Bond Bubble In History Is Turning Into Carnage
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter“We’ve intentionally blown the biggest government bond bubble in history,” confessed Andy Haldane, Executive Director of...
View ArticleDeja Lu, All Over Again
In what year was the following written:The Federal Reserve appears on track to buy the entire [amount of] government debt it has committed to purchase, barring a sharp, unexpected shift in the...
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Hedging, Not Selling
It appears that while investors seem loathed to sell their underlying positions, they are actively (and anxiously) hedging in equities and credit today...The credit ETF (and CDS) market provides...
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Platinum 'Supply Squeeze' Likely To Lead to Record Prices
Today’s AM fix was USD 1,378.50, EUR 1,030.35 and GBP 880.32 per ounce. Yesterday’s AM fix was USD 1,386.00, EUR 1,038.59 and GBP 881.79 per ounce.Gold was little changed on Tuesday as investors...
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FOMC Decision - "Real Fundamentals" Or "Reaction Function"
It appears the plethora of talking heads discussing the FOMC's potential decision to 'Taper' - and the subsequent sell-offs in a number of risk-assets - believe this action has stemmed from better...
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China Joins The Broken "Keynesian Multiplier" Club
A week ago we showed a chart from Charles Gave which does a terrific job at explaining why the modern economic "science", in conjunction with the Fed's negative rate environment, have failed at their...
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What the Bond Market Says About the Likelihood of the Fed Tapering
The big question on every investors’ lips today and tomorrow is: “will the Fed announce or hint at tapering QE?” Over the last two years, one of the biggest tools in the Fed’s arsenal has been verbal...
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Guest Post: The Real Story Of The Cyprus Debt Crisis (Part 2)
Perfectly timed given the Cypriot President's call for better terms, we look at what really went on to crush this tiny island nation...Submitted by Charles Hugh-Smith of OfTwoMinds blog,Not only is the...
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U.S. Mint Sales of Silver Coins Reach Record in 2013 First Half
Today’s AM fix was USD 1,366.00, EUR 1,019.86 and GBP 874.91 per ounce. Yesterday’s AM fix was USD 1,378.50, EUR 1,030.35 and GBP 880.32 per ounce.Gold is marginally higher today but remains near the...
View ArticleWhistleblower Forces China To Come Clean Over Data Manipulation
It seems yet another conspiracy theory has become conspiracy fact thanks to a Chinese whistleblower. While the shrodinger-like nature of Chinese data has been keeping the market guessing for the last...
View ArticleGoldman's FOMC Expectations
With 45 minutes left to go, only one thing matters: what does Goldman think (the other issue of whether Jan Hatzius shared a meal with Bill Dudley at the Pound and Pencewill remain unknown until the...
View ArticleFirst Congressman Allowed to Read Secret Treaty Says “This ... Hands The...
We reported last year:Democratic Senator Wyden – the head of the committee which is supposed to oversee it – is so furious about the lack of access that he has introduced legislation to force...
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The Lack Of Pre-FOMC Fear Is Palpable
While bond markets are selling off (in anticipation of 'Taper'?), and equity markets are flat; it seems the equity market hedgers are not afraid anymore. After rising notably last week, VIX futures are...
View ArticleFOMC Hints No Taper Despite More Optimistic Forecast, Bullard Is Second...
The much-anticipated statement of the most powerful body in the world is upon us - FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYINGFED SAYS LABOR MARKET SHOWS `FURTHER IMPROVEMENT'FIFTEEN OF 19...
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The Market (Over) Reacts...
UPDATE: Of course, it wouldn't be the US equity market if it didn't instantaneously rip higher and revert to VWAP after the high volume drop... Stocks - sold; Bonds - sold; Gold - sold; USD - bought.
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Digging Through The Fed's Improving Forecast
Perhaps the biggest red flag in today's FOMC release is the quarterly economic projections which improved from March with the Fed expecting better GDP and employment, offset by lower core and PCE...
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Bernanke Press Conference: Live Webcast
With markets now showing their true colors (pricing in the inevitable beginning of a taper), the next hour or so of double-speak and talking out of both sides of his mouth may well be the most...
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Bernanke Speaks, The Stock Market Squeaks, The 5 Year Shrieks
Things are escalating quickly... with US Treasuries beginning to look a lot like JGBs...
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Financial Market Russian Roulette
Originally posted at Monty Pelerin's World blog,A couple of points are important:The current level of the stock market is a function of quantitative easing. Neither fundamentals nor conditions in the...
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