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And This Is Where The LTRO Money Went
On the day of the 3 Year European LTRO, in a whim of fancy we wondered if contrary to all expectations, the European banks would not instead of using the money for any real releveraging (carry Trade)...
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Core Durable, Capital Goods Orders Miss Despite Inventory Stuffing, To Push...
So much for ending the year on a positive economic tone: today's November durable goods number, while better than expected on a headline basis including volatile transportation data coming at 3.8% on...
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In 2011, The S&P Moved 877 Times For Every Point Of Change
We have previously described the change in market structure post the mid-year USA ratings downgrade as the impossible was suddenly made possible. Nowhere is this more evident than in the huge...
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Above 7% Again - Any Italian Bank That Bought BTPs With LTRO Cash Is Now...
Presented with little comment...10Y BTP yields just broke above 7% once again. It would appear the MtM on those LTRO-funded BTP purchases is hurting already. Cue LCH margin hikes... Today's move...
View Article"Black Swan" Fund Creator Explains Why Central Planning Has Doomed Us All
In a must read Op-Ed in the WSJ, Mark Spitznagel, founder of "fat tail" focused hedge fund Universa, where Nassim Taleb has been known to dabble on occasion, explains the fundamental flaw with central...
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Dow Green For The Year? Thank 2 Companies Out Of 30
While we just noted the insanity of chaotic market shifts in the face of the broad market's lackluster performance, Nic Colas, of ConvergeX Group, goes one step further. Dismantling the 592 point rally...
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Iran Launching "Massive" Ten Day War Game Tomorrow In Close Proximity To...
As the rest of the world enjoys Festivus or whatever celebration one indulges in, Iran is launching a "massive" 10 day war games naval exercise right in the belly of the beast. From Xinhua: "Iranian...
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Less Than 500 New Homes Sold In Over $750,000 Bracket For 4th Month In A Row
One thing becomes apparent when looking at the price range breakdown in the just released latest New Home Sales breakdown - the quality, or rather price, of homes sold continues to deteriorate. As can...
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Quotes Of The Day - Ron Paul Edition
Submitted by Jim Quinn of The Burning Platform THOSE IN POWER FEAR RON PAUL AND HIS MESSAGE OF LIBERTY, FREEDOM, AND RESPOSIBILITY. THE QUOTES BELOW ARE THE TRUE REFLECTION OF THE MAN AND HIS IDEAS....
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Market Snapshot: Mixed Market And Correlations Low
Europe closed uneventfully with equities mildly outperforming credit (diverging for much of the day) as sovereign spreads were mixed with BTPs higher in yield (and spread), Belgium lower in...
View ArticleMid-December Hedge Fund Performance Update - Bloodbath
We already know 2011 was horrible for hedge funds, for Wall Street bonuses, and soon, for luxury retailers. So before we write off 2011 for good, here is the penultimate HSBC report (#52) showing HF...
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JPM Raises Q1 GDP Forecast From 1.0% To 2.5% GDP At The Expense Of Even More...
Now that US Congress provides "solutions" on a month to month basis with outcomes delayed until the 11th hour and 59th minute, the Treasury funds itself paycheck to paycheck, hedge fund LPs only allow...
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Guest Post: The Economic Solutions Of Vampires
Submitted by Brandon Smith from Alt-Market.com The Economic Solutions Of Vampires The vampire bat is a horrifying pig-nosed wart of a creature which feasts in a manner that, believe it or not, is a...
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A MERSy Christmas | Twas The Night Before Fraudclosure
A MERSY CHRISTMAS Tis right before Christmas, but they’ll still take your house Many creatures are lurking, like Baum - that louse. The documents were strung together without care, Have a missing...
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Morgan Stanley On Why 2012 Will Be The "Payback" For Three Years Of...
Yesterday, we breached the topic of the real decoupling that is going on: that between the macro and the micro (not some ridiculous geographic distribution of the US versus the world), by presenting...
View ArticleSanta takes the S&P positive YTD
The S&P ran right thru the 200D SMA, and not by coincidence the S&P is now in positive territory for the year. There is an outside chance that we get a monster, no-volume, lift thru year end....
View ArticleAn "Austrian View" Approach To Equity Prices
Take all you know about the formation of equity prices... and throw it out of the window, at least according to the following paper out of (fittingly Austrian) Erste Group, which applies Austrian...
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Twas the Friday Before Christmas
Twas the Friday Before Christmas Courtesy of Phil of Phil's Stock World Really guys! Don't we all have something better to do than watch the markets today? Even the crooks at the NYMEX are going home...
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Guest Post: The Center Can Hold - More On Playing With Tails
By JM The Center Can Hold: More on Playing with Tails Every time series of prices reflects the ongoing valuation of worldviews in a collective sense. These prices can be used to generate a...
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