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FOMC Statement Market Reaction
UPDATE: Stocks leaking back now TSYs are 5-10bps lower in yield (aside from 30Y), ES (and credit) rallying but underperforming on a beta basis to TSY/EUR, EUR stronger 1.3050 now (USD weaker), and...
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Gold Extending Gains On Realization Fed's Only Option Is CTRL+P
Update: $1700 As for those confused why EURUSD is back at 1.31, here is a reminder from 3 days ago: "Poor Mario apparently fails to grasp that for Germany a plunging Euro, and thus a surging export...
View ArticleContrary to Widespread Claims, There Is NO EVIDENCE that Iran Is Building a...
Earlier this month, Secretary of Defense Leon Panetta said: Are they [the Iranians] trying to develop a nuclear weapon? No. But we know that they’re trying to develop a nuclear capability. And that’s...
View ArticleSpain Is Now Officially Europe's Broke(n) Gramophone
It was only yesterday that we noted that Spain (and its 23% unemployment) had tipped its cards to expose its utter desperation, when its PM basically begged for a Euroepan bailout. As a reminder, his...
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Goldman Stolpers Clients Again, This Time With Short Bond Call
Goldman does it again. Whereas the exploits of one Tom Stolper are well known, and frankly much expected by the general community due to his infallible advice and 100% inverse track record, we did not...
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Fed Slashes Growth Outlook, Six Fed Officials Do Not See Rate Hike Until 2015
This is just getting better and better: FOMC: 2012 GROWTH AT 2.2%-2.7% VS 2.5%-2.9% IN NOV. FORECAST ELEVEN OF 17 FED OFFICIALS SEE MAIN RATE ABOVE 0.25% IN 2014 SIX OF 17 FED OFFICIALS SEE NO RATE...
View ArticleWatch Bernanke's Press Conference Live
Because live is better than dead. And just in case he lets one slip just what his price target for the Russell 2000 (aka the US GDP) is and how much gold the Fed will secretly lease. As a reminder,...
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Bill Gross' Explains The FOMC Decision: "QE 2.5 Today, QE 3, 4, 5 … Lie Ahead"
Pimco just saved you lots of garbage sellside "research" "analysis" on the topic.
View ArticleNew "Stolper" Is Out, Says To Go Bullish EURUSD, With 1.29 Stop
The one we have all been waiting for. Stolper about to be 9 out of 9 with a 0.000 hit rate. The latest Eurozone PMIs have been better than expected and are now consistent with slightly positive growth....
View Article"Tying It All Together" with David Rosenberg
Our discussions (here, here, and here) of the dispersion of deleveraging efforts across developed nations, from the McKinsey report last week, raised a number of questions on the timeliness of the...
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Market Now Pricing In $770 Billion Increase In Fed Balance Sheet
As we have pointed out previously, the primary if not only driver of relative risk returns (because in a world of relative fiat value destruction, it is all relative, except for gold which is revalued...
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T-Minus 11 Months Until Geithner Resignation
Easily the best news of the day: GEITHNER SAYS OBAMA WOULDN'T ASK HIM TO STAY FOR A SECOND TERM - BBG Oh well, life is tough. Surely that basement office at Goldman Sachs will have some daylight and...
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And The Winner Is...Gold
Year-to-date, Gold is up an impressive 9.4%, significantly outpacing the S&P 500 at +5.6% and the disappointing 2% loss (in price) for the 30Y bond. Treasuries sold back off initial knee-jerk rally...
View ArticleSome Notes On NFLX's Q4 Results
While the stock of NFLX is soaring in the after-hours session on what is perceived to be a big blow out of consensus, and yet another massive if brief short squeeze, we have had a chance to take a look...
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Ignore the Noise
www.southofwallstreet.com In today’s comments from David Rosenberg (well worth the subscription) he presents a quote from Dr. Lacy Hunt of Hoisington Investment Management that struck me as...
View ArticleGuest Post: Something's Fishy in Tripoli
Submitted by Daniel J. Graeber of Oilprice.com Something's Fishy in Tripoli Way back in early 2011, members of the U.N. Security Council had no problem getting a resolution through that authorized...
View ArticleJobless Claims Miss, Durable Goods Better Than Expected
And so the volatility continues: initial claims go from 402K to an upward revised 356K, to 377K, on expectations of 370K. The swings in this data series are getting as big as those in the stock market...
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Baltic Dry Plunges 42% More Than Seasonal Norm To Start The Year
Whether it is an over-abundance of ships (mis-allocation of capital) or a slowing global growth story (aggregate demand), the crash in the Baltic Dry Index has been significant to say the least....
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¥1,086,000,000,000,000 (Quadrillion) In Debt And Rising, And WhyThe ¥ Will...
Yesterday the Japanese Finance Ministry made a whopper of an announcement: in the year ending March 2013, total Japanese debt will surpass one quadrillion yen, or ¥1,086,000,000,000,000. This is...
View ArticleAnother Top: Goldman Recommends Opening Long Positions In Russell 2000
Even as Goldman's economists have been bashing the Fed for not proceeding with a full blown LSAP QE, and have been warning repeatedly that the economy is due for a significant leg lower, here is...
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