Hilsenrath: White House Preparing Bernanke's Replacement
It's been a long time since Hilsenrath actually reported news instead of serve as a leak dissemination service for the New York Fed. Today was one of those time with news from the WSJ that the Obama...
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Bonds Bid; Stocks Stall At 50DMA; Gold/Silver Shellacked (Again)
It seems the quarter-end rebalancing flows are showing up in bond-land - 10Y Treasuries were well bid again today (-6bps) for the best 2 days drop in yield in over 13 months. Stocks repeated the same...
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Thursday Humor: Hockey Porn
For some, especially Bruins fans, it appears hockey is better than porn, but only until you lose the Cup... According to the people at pornhub.com, when the game ended around 11 p.m. ET, something...
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A Primer For Interpreting Random Market Profiles And Reactions To Economic...
This a fairly broad topic, and any "rules" would be vague at best, so i'll use recent trading activity as an example.First - the background: The UST market has just exited a supply-imbalance. "What...
View ArticleGuest Post: Secrets And Lies
Originally posted at Golem XIV blog,Every credit has its debit, every positive its negative. So for every secret there must be a lie, and every lie must be kept secret.This is the currency of power...
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JoN CoRZiNe WaS a SCaM...
. JON CORZINE SONG (Daniel Boone Song)Jon Corzine was a scam, Yes, a big scam! With an eye like an schlemiel And the king of legerdemain was he!Jon Corzine was a scam, Yes, a big scam! He was soave,...
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The Wall Street Pleasure And Main Street Pain Of Liquidity
Authored by Michael Hartnett of BofAML,"I take it for granted, that those eat now who never ate before; And those who always ate, now eat the more.” Thomas de Quincey, Confessions of an English...
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Silver Lining Shattered As European Household Lending Plunges Most In 11 Months
As excess reserves in Europe continue to fall, prompting some to claim this is positive since banks are "no longer hoarding cash," the reality of a dramatically deleveraging European financial system...
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No Tapering Any Time Soon As Fed Announces $45 Billion Of July POMO Days
It seems, based on the latest Fed POMO schedule that there will be no 'Taper' anytime soon. We are downgrading our communications warning from"shorting the market on these days 'will' cause pain" to...
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Friday Humor: Party's Over
Just. One. Moar...Via Der Spiegel A mountain of seized drugs waits to be set on fire in Quetta, Pakistan as part of a ceremony marking the UN International Day Against Drug Abuse and Illicit...
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Stocks Plunge In Last Minute On Rebal Day, June Is Worst Month Since October...
The S&P 500 ended the month with an odd shade of green (called red). This is the worst month in stocks for 8 months and makes only the 5th negative month in the 20 months since the global central...
View ArticleThe Week That Was: June 24th - 28th 2013
Succinctly summarizing the positive and negative news, data, and market events of the week...PositivesMay durable goods orders beat expectationsFed’s Open Mouth Operation helps lift equitiesJon Corzine...
View ArticleSteve Cohen Pleads The Fif , Declines To Testify Before A Grand Jury
If there is a better way to admit guilt, and several decades of ill-gotten billions courtesy of now legendary "information arbitrage", coupled with some heavy expert network hot tips and one year...
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Guest Post: What’s So Scary About Deflation?
Submitted by Frank Hollenbeck via the Ludwig von Mises Institute,When it comes to deflation, mainstream economics becomes not the science of common sense, but the science of nonsense. Most economists...
View ArticleCollateral Transformation: The Latest, Greatest Financial Weapon Of Mass...
Back in 2002 Warren Buffet famously proclaimed that derivatives were ‘financial weapons of mass destruction’ (FWMDs). Time has proven this view to be correct. As The Amphora Report's John Butler notes,...
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Eric Sprott: "Have We Lost Control Yet?"
Authored by Eric Sprott and Etienne Bordeleau of Sprott Global Resources,Recent comments by the Federal Reserve Chairman Ben Bernanke have shocked the world financial markets. It all started on May...
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Bill Gross Explains How To Escape A Sinking Ship
It is unclear if the florid analogy in Bill Gross' latest monthly letter, namely a "sinking ship" or at least a seaborne vessel on the verge of being one, is suppoed to represent the US economy, the...
View ArticleThe Rise And Fall Of Great Powers
Submitted by Charles Hugh Smith from Of Two MindsThe very attempt to reform an unstable, diminishing-return system often precipitates its collapse. The Rise and Fall of Great Powers Our collective...
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