Tag Archive: newslettersent

Going Dutch? Netherlands Joins The 10Y NIRP Club

2016-07-08

by

2016-07-08

For the first time in Dutch history, 10Y government bond yields have turned negative (-0.001% intraday) closing at 0.00%... Joining Switzerland, Japan, Germany, and Denmark... Pushing Global NIRP bonds over the $13 trillion!

Read More »

North American Jobs Report and Implications

2016-07-08

by

2016-07-08

There is something for everyone in today's US jobs report, and at the end of the day, it is unlikely to sway opinion about the direction and timing of the next Fed move. The greenback itself may remain range bound after the initial flurry. On the other hand, the disappointing but noisy Canadian data underscores the risk of a more dovish slant to the central bank's neutral stance next week.

Read More »

Fearing Confiscation, Japanese Savers Rush To Buy Gold And Store It In Switzerland

2016-07-08

by

2016-07-08

Japan has pushed further away from being the nation that embraces "Krugman Era" economics and deeper into the new "Bernanke Era" economics of helicopter money. As a result Japan's citizens have been on a blitz to save what little purchasing power they still possess, before hyperinflation finally arrives.

Read More »

Post-Brexit relief rally fading – Swiss quality stocks as safe haven

2016-07-08

by

2016-07-08

The SMI is set to post moderate losses this week as the post-Brexit relief rally faded and commodities slipped. Swiss stocks outperformed key European markets as investor’s fled to quality stocks such as Nestlé, Novartis and Roche.

Read More »

Chinese Gold Demand 973 tonnes in H1 2016, Nomura SGE Withdrawals Chart False

2016-07-08

by

2016-07-08

Chinese wholesale gold demand, as measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), reached a sizable 973 metric tonnes in the first half of 2016, down 7 % compared to last year.

Read More »

FX Daily, July 07: Sterling Bounces Two Cents, but Does not Appear Sustainable

2016-07-07

by

2016-07-07

Amid a better if not strong risk appetite, sterling has rallied two cents from yesterday's lows near $1.28 to poke through the $1.30 level in the European morning. It was helped by an industrial production report that was better than expected. Industrial and manufacturing output fell 0.5% in May. This was around half of the expected decline after a strong April advance (2.1% and 2.4% respectively).

Read More »

The Gold Standard: Friend of the Middle Class

2016-07-07

by

2016-07-07

A Morally and Economically Superior Monetary System. It has been theoretically demonstrated and seen in general practice that a monetary system of 100% metallic money devoid of central banking checks monetary inflation, prevents a general rise in the price level, and eliminates the dreaded business cycle while making all sorts of monetary mischief nearly impossible.

Read More »

Great Graphic: More Thoughts on Banks

2016-07-07

by

2016-07-07

Italian banks have done worse that European banks. Italian banks outperformed Germany banks from end of H1 12 through H1 15. US banks and financials more broadly have outperformed Europe.

Read More »

European Banks and Europe’s Never-Ending Crisis

2016-07-07

by

2016-07-07

Landfall of a “Told You So” Moment… Late last year and early this year, we wrote extensively about the problems we thought were coming down the pike for European banks. Very little attention was paid to the topic at the time, but we felt it was a typical example of a “gray swan” – a problem everybody knows about on some level, but naively thinks won’t erupt if only it is studiously ignored.

Read More »

Swiss Consumer Price Index in June 2016: -0.4 percent against 2015, +0.1 percent against last month

2016-07-07

by

2016-07-07

The Swiss Consumer Price Index (CPI) increased by 0.1% in June 2016 compared with the previous month, reaching 100.7 points (December 2015=100). Inflation was -0.4% in comparison with the same month in the previous year. These are the findings of the Federal Statistical Office (FSO).

Read More »

Great Graphic: The Yuan’s Weakness

2016-07-07

by

2016-07-07

Don't be fooled, the yuan has fallen more against its basket that against the dollar this year. It is not clear what China means by stable. Market forces appear to be moving in the same direction as officials wish.

Read More »

SIBOR Forex Banking Fraud – another FX rate rigging scandal

2016-07-06

by

2016-07-06

Forex has been the big banks secret gold mine, supporting their other losing operations (like normal banking business, lending, etc.). To a large extent this has been unraveling, and this SIBOR lawsuit is another attack on their risk free profit center (FX). Read the entire lawsuit released by Elite E Services here in full.

Read More »

Some question price of Swiss stocks as safe haven status awakened

2016-07-06

by

2016-07-06

Swiss stocks, dislodged in 2015 as a haven from European volatility, have seen the status restored following Brexit — so much that some investors are balking at valuations. After trailing shares from Germany to France and Italy for most the past year, the Swiss Market Index is finding a new appeal in the fallout of the U.K. vote to leave the European Union.

Read More »

FX Daily, July 06: Dollar and Yen Advance Amid Growing Investor Angst

2016-07-06

by

2016-07-06

What a difference a few days make. Many saw last week's equity market advance a sign that Brexit anxiety was overdone. However, quarter-end position adjustments appear to have been misread. Equity markets are falling now. Bond yields in the US, Japan, and Germany, are at new record low. Japan's 20-year bond yield briefly dipped below zero for the first time.

Read More »

Return of the Repressed: Europe’s Unresolved Banking Crisis

2016-07-06

by

2016-07-06

The IMF identified three banks that posted the most significant systemic risks. It has been overshadowed by new pressure on Italy's banks, and Three UK commercial real estate funds have been frozen to prevent redemptions.

Read More »

Yahoo Finance Editor “We’re Suffering Of Too Much Democracy”

2016-07-06

by

2016-07-06

Following James Traub's mind-numbingly-elitist rebuttal of the democratic rights of "we, the people" in favor of allowing "they, the elite" to ensure the average joe doesn't run with scissors, "It's time for the elites to rise up against the ignorant masses."

Read More »

FX Daily, July 05: Sterling Hammered to New Lows, Yen Pops, SNB intervenes

2016-07-05

by

2016-07-05

The British pound has been hammered to fresh lows just above $1.3115. The euro is moving toward GBP0.8500. The immediate catalyst is three-fold. First, one of the UK's largest property funds has moved to prevent retail liquidation. Second, the BOE reversed an earlier decision on the capital buffer for banks, which is tantamount to easing policy by boosting the banks' lending capability by as much as GBP150 bln.

Read More »

Planet Debt

2016-07-05

by

2016-07-05

She is a low-interest-rate person. She has always been a low-interest-rate person. And I must be honest. I am a low-interest-rate person. If we raise interest rates, and if the dollar starts getting too strong, we’re going to have some very major problems.

Read More »

Gold Silver Update for Purists

2016-07-05

by

2016-07-05

It’s that dreaded day after Independence Day. The weather is gorgeous and I don’t really feel like trading either. The thought of just phoning it in had occurred to me, but as the new month just rolled over I thought I may as well take another peek at our monthly charts.

Read More »

Is Carney the Sole Adult in UK’s Political Morass?

2016-07-05

by

2016-07-05

Sterling has fallen to $1.3050. Two real estate funds have suspended trading (liquidation). Constitutional crisis over who has authority to trigger Article 50 may have begun.

Read More »