Jan 23

- Holder To Use Asset Forfeiture Seizure to Go After Guns:

- SocGen Explains That Since The ECB’s QE Will Fail, It Will Need To Be Increased To €3 Trillion, Include Stocks:

“The potential amount of QE needed is €2-3 trillion! Hence for inflation to reach close to a 2.0% threshold medium term, the potential amount of asset purchases needed is €2-3tn, not a mere €1tn. Should the ECB target such an expansion of its balance sheet, it would have to ease some conditions on its bond purchases (liquidity rule, quality…) or contemplate other asset classes- equity stocks, Real Estate Investment Trust-(REIT), Exchange-traded fund (ETF)…- as the BoJ, previously.”

- BREAKING: Email Shows Gov. Nixon Ordered National Guard OUT OF FERGUSON Before Riots & Destruction

Ferguson Mayor James Knowles told local FOX 2 anchors late on Monday night, November 25, 2014, that he had repeatedly requested the National Guard during the rioting and looting… But his requests were ignored by state Democratic leaders.

- ‘US government was subverting entire US constitution’ – NSA whistleblower:

Award winning whistleblower William Binney says his new job is to make the US government honest, make them face the truth publically, and to prevent further violation of the rights which America has never intended to stand for.

Congress alarmed by plans to use Russian system to route 911 calls:

Plans to route 911 location calls via Russia’s GLONASS satellite system have sparked national security concerns among some members of Congress, despite assurances that its use will be limited and it will help save lives in emergencies.

- Jobless Claims Over 300k For 3rd Week, Spike In Shale States:

Not “unambiguously good” as Shale states see initial jobless claims spiking. Overall initial jobless claims missed expectations for the 4th week in a row, holding above 300k for the 3d week in a row (for the first time since July). At 307k, this week’s print is below last week’s but well above the 300k expectation. However, across TX, CO, ND, PA, and WV, initial claims (1 week lagged) rose to over 75k (from 30k in October)… “crisis has passed”?

Continue reading »

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Jan 23

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Jan 21

- S&P Surges As ECB’s QE Leaked: Board Proposes €50 Billion In Bond Monetization Per Month (ZeroHedge, Jan 21, 2015):

And so with less than 24 hours to go, the ECB has decided to leak its deliberations not only to Merkel and Hollande, but Dow Jones. To wit:

DJ: ECB EXEC BOARD’S QE PROPOSAL CALLS FOR ROUGHLY EUR50B IN BOND BUYS A MONTH –  SOURCES
ECB SAID TO PROPOSE QE OF 50 BILLION EUROS A MONTH THROUGH 2016

More as we see it, but if indeed this will be a program without risk-mutualization and conditional and limited burden-sharing, where the hope was that Draghi would “shock and awe” the world with the size of the bond purchasing program instead, €600 billion per year looks decidedly on the low side of any “surprise” announcement where the whisper number was for €1 trillion per year, and if indeed this is the final formulation may result in a substantial disappointment for stocks after the initial kneejerk reaction.

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Jan 19

- Chinese Stocks Crash Most Since Feb 2007, Futures Limit-Down After Regulatory Crackdown On Margin-Trading (ZeroHedge, Jan 18, 2015):

UPDATE:

  • *SHANGHAI COMPOSITE HEADS FOR BIGGEST LOSS SINCE FEBRUARY 2007
  • *CHINA CSI 300 INDEX FUTURES FALL BY 10% LIMIT

SHCOMP

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Having tried and failed once to stem the speculative frenzy in Chinese stocks, regulators took more direct action tonight and suspended three of the biggest securities firms from adding margin-finance and securities lending accounts for three months following rule violations. As Bloomberg reports, Citic Securities, Haitong Securities, and Guotai Junan Securities shares plunged dragguing the entire Shanghai Composite down almost 7% and negative year-to-date.

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Jan 16

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- Swissnado Stuns Stocks, Bonds & Bullion Bid (ZeroHedge, Jan 15, 2015)

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Jan 14

- S&P Down 5% From Highs, Dow Drops Almost 700 Points In 27 Hours (ZeroHedge, Jan 14, 2015):

Things are escalating… Energy credit markets are pushing back towards record high spreads, copper is pushing back to the overnight lows and gold and silver are flat. US equity markets are the big movers with The Dow down well over 300 points today (and nearly 700 points in the last 27 hours) and the S&P now down almost 5% from its highs. Treasury yields are 8-10bps lower on the day with 30Y yields at record lows and 10Y close.

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Jan 14

Jamie Dimon cufflinks - The seal reads Seal of the President of the United States and includes the arrow-carrying eagle

- Dear Jamie Dimon: This Is Why US Banks Are “Under Assault” (ZeroHedge, Jan 14, 2015):

Earlier today, during the JPM conference call, when Jamie Dimon wasn’t busy explaining why the Q4 earnings presentation was sorely missing the page showing JPM’s latest Net Interest Margin, a staple placeholder page in the presentation appendix, he found time to lament something totally different. As Bloomberg reports, Dimon lashed out at U.S. regulators for putting his bank “under assault.” We don’t know how American, or how fair, or how complex, but we know why. The reason: JPMorgan and the rest of the world’s banks have now become the world’s biggest organized crime syndicate. The evidence? $178 billion in government kickbacks to keep their criminal scheme going for the past 5 years: something which none other than the BCG called a “cost of doing business” – criminal business that is. 

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Jan 13

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Volatility Storms Back With A Vengeance In 950 Point Intraday Dow Swing (ZeroHedge, Jan 13, 2015)

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Jan 12

20150112_EOD

- Crude Crash Erases Stocks’ “Catastrophe” Exuberance, Bonds & Bullion Surge (ZeroHedge, Jan 12, 2015)

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Jan 09

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- Oil’s 7th Weekly Drop In A Row Drags Stocks To Worst Start To Year Since 2009 (ZeroHedge, Jan 9, 2015)

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Jan 08

GS buybacks

- And The Biggest Buyer Of Stocks In 2015 Will Be… (ZeroHedge. Jan 8, 2015):

Back in May, when the world was still wondering who would step in and bid up US stocks now that the Fed has, if only for the time being, stepped away from indirectly monetizing $1 trillion in US risk every year courtesy of a POMO a day (keeping the short sellers away), we revealed that mysterious buyer’s identity: the stock-issuing companies themselvesby way of record amounts of stock buybacks, which – funded with new debt issuance – have resulted in net corporate debt levels rising to fresh all time highs. In fact, as Goldman clarified further in Novemberbuybacks have been the largest source of overall US equity demand in recent years.” Continue reading »

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Jan 06

Worst Start To A Year Ever, Stocks Down 5 Days In A Row

- Worst Start To A Year Ever, Stocks Down 5 Days In A Row (Zerohedge, Jan 6, 2015):

How many are feeling after the worst 3-day start to a year EVER…

Market internals triggered a 2nd Hindenburg Omen…

Hindenburg Omen

The S&P 500 is down 5 days in a row – the first time since Sept 2013… with the biggest 5-day decline since Jim Bullard saved the world… (finding support at its 100DMA for now)

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Jan 06

- Oil Falls Below 50 As Global Financial Markets Begin To Unravel  (Economic Collapse, Jan 5, 2015):

On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points.  Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece.  These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015.  Just prior to the financial crisis of 2008, the price of oil collapsed, prices for industrial commodities got crushed and the U.S. dollar soared relative to other currencies.  All of those things are happening again.  And yet somehow many analysts are still convinced that things will be different this time.  And I agree that things will indeed be “different” this time.  When this crisis fully erupts, it will make 2008 look like a Sunday picnic. Continue reading »

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Jan 05

Stocks Suffer Worst Santa Claus Rally Since 1999

- Stocks Suffer Worst Santa Claus “Rally” Since 1999 As Crude Plunges Below $50 (ZeroHedge, Jan 5, 2014)

- Dow falls over 300 points as oil prices hit new lows (RT, Jan 5, 2014)

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Jan 05

And remember that Obama is also (still) monitoring Fukushima!

obama-golf


- Obama Is Watching: White House Monitoring If Crude Crash Is Affecting Stocks (ZeroHedge, Jan 5, 2014)

“Some folks are selling stocks…” and, according to The White House, President Obama is closely monitoring it. As The Hill reports, despite the meme that lower-oil-prices-are-unequivocally-good-news-for-Americans, the Obama administration is monitoring whether the fall in oil prices is affecting the US stock market. Just over 5 years ago, President Obama explained to the American public that profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal,” so we can rest assured that our leaders are (for now) “hesitant” to say whether the fall of the stock market, which came as crude oil trades briefly dipped below $50, was related to oil prices.. so blamed Europe.

As The Hill reports,

The Obama administration is monitoring whether the fall in oil prices is affecting the U.S. stock market, White House press secretary Josh Earnest said Monday as the Dow Jones Industrial Average plunged more than 300 points.

“We’re always monitoring the impact that any sort of policy area would have on the economy,” Earnest said. “So it’s certainly something that we’re watching.”

But the spokesman said he was “hesitant” to say whether the fall of the stock market, which came as crude oil trades briefly dipped below $50, was related to oil prices. Oil prices have been nearly halved since the summer, and Monday represented the first time crude oil slipped below $50 since 2009.

“I’m always very hesitant to draw any conclusions or offer any analysis about movements in the stock market,” Earnest said. “I know that there are some who have observed — this is a little bit of a chicken and the egg thing, that some of the fall in energy prices is a direct response to a weakening of the economy and a fall in the stock market.”

But, Earnest said, “as a general matter,” falling energy prices have been “good for the U.S. economy.”

*  *  *

Of course, later in the discussion, Josh Earnest explained that it was all Europe’s fault…

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Jan 05

- Jeff Gundlach: “If Oil Drops To $40 The Geopolitical Consequences Could Be Terrifying” (ZeroHedge, Jan 5, 2014):

In a recent interview with FuW, DoubleLine’s Jeff Gundlach explained his concerns about the oil market not being “unequivocally good” for everyone…

Question: The crash in the oil market is already causing jitters in the financial markets around the globe. What is your take on that?

Gundlach: Oil is incredibly important right now. If oil falls to around $40 a barrel then I think the yield on ten year treasury note is going to 1%. I hope it does not go to $40 because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be – to put it bluntly – terrifying.

What would that mean for stocks?

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Gundlach is right historically…

Large and rapid rises and falls in the price of crude oil have correlated oddly strongly with major geopolitical and economic crisis across the globe. Whether driven by problems for oil exporters or oil importers, the ‘difference this time’ is that, thanks to central bank largesse, money flows faster than ever and everything is more tightly coupled with that flow.

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So is the 45% YoY drop in oil prices about to ’cause’ contagion risk concerns for the world? Continue reading »

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Jan 05

- 11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe (Economic Collapse, Jan 4, 2015):

Will 2015 be a year of financial crashes, economic chaos and the start of the next great worldwide depression?  Over the past couple of years, we have all watched as global financial bubbles have gotten larger and larger.  Despite predictions that they could burst at any time, they have just continued to expand.  But just like we witnessed in 2001 and 2008, all financial bubbles come to an end at some point, and when they do implode the pain can be extreme.  Personally, I am entirely convinced that the financial markets are more primed for a financial collapse now than they have been at any other time since the last crisis happened nearly seven years ago.  And I am certainly not alone.  At this point, the warning cries have become a deafening roar as a whole host of prominent voices have stepped forward to sound the alarm.  The following are 11 predictions of economic disaster in 2015 from top experts all over the globe…

#1 Bill Fleckenstein: “They are trying to make the stock market go up and drag the economy along with it. It’s not going to work. There’s going to be a big accident. When people realize that it’s all a charade, the dollar will tank, the stock market will tank, and hopefully bond markets will tank. Gold will rally in that period of time because it’s done what it’s done because people have assumed complete infallibility on the part of the central bankers.”

#2 John Ficenec: “In the US, Professor Robert Shiller’s cyclically adjusted price earnings ratio – or Shiller CAPE – for the S&P 500 is currently at 27.2, some 64pc above the historic average of 16.6. On only three occasions since 1882 has it been higher – in 1929, 2000 and 2007.” Continue reading »

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Jan 04

traders brokers hands on face stock market collapse

- Ten warning signs of a market crash in 2015 (Telegraph, Jan 2, 2015)

Stock markets opened lower on the first day of trading of 2015, and the credit markets that forewarned the 2007 crash are showing signs of strain

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Jan 01

20141219_rufriggingkiddingme

- The Entire Farcical 2014 Market Summarized In One Chart (ZeroHedge, Jan 1, 2015):

If someone had just woken up and missed all of 2014, one look at the following chart of the S&P is all they need to know what happened:

S&P500 stl

In brief: the 45-degree “bottom left to top right” levitation on negligible volume that started several years ago, continued throughout 2014 with virtually no substantial incidents. In fact, every time there was an interruption, some central banker – be it Bullard or Yellen – stepped in and talked the market right back up, something even the BIS mocked a few weeks ago when it said:

… it would be imprudent to ignore that markets did not fully stabilise by themselves. Once again, on the heels of the turbulence, major central banks made soothing statements, suggesting that they might delay normalisation in light of evolving macroeconomic conditions. Recent events, if anything, have highlighted once more the degree to which markets are relying on central banks: the markets’ buoyancy hinges on central banks’ every word and deed.

Which is also the explanation why for the 6th year in a row hedge funds have underperformed what was once a “market”, and is now merely a “confidence building policy instrument.”

Continue reading »

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Dec 31

EOD

- S&P 500 Closes 2014 Weak, Up 6th Year In A Row; Treasuries Triple Dow’s Gains (ZeroHedge, Dec 31, 2014):

 

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