Thursday, December 31, 2015

Yellen, You Have A Problem: The "Rate Hike Corridor" Just Broke

Moments ago the effective Fed Funds rate tumbled from yesterday's 0.35% to just 0.12%, confirming that indeed the rate hike corridor can and has been breached at least once, and only two weeks into the Fed's rate hike experiment.

S&P 500 Opens In The Red For 2015 - Why 2058.90 Is The Most Important Number In The World

The S&P 500 closed 2014 at 2058.90 and is currently trading below that level as the market opens. For the sake of faith in The Fed's "control" and trust in central planners ability to do "whatever it takes," it appears NYFed better "get back to work" soon to save the world.

The Uncomfortable Truth About The Great Boom And This "Recovery"

Despite such endless financial engineering, sales for the S&P 500 have been declining for the last three quarters. And profits have declined for the first time since the 2009 expansion. Simply put: The recovery is a mirage... It isn’t real... And it isn’t sustainable.

Initial Jobless Claims Surge Most In 10 Months In Pre-Christmas Week

Year-over-year, initial jobless claims are unchanged as the week-ending with Christmas Day saw a Scorrge-like 20,000 surge in initial claims. This is the largest weekly rise since February with 2015 ending with the highest initial claims print in 5 months.

Another Hedge Fund Shuts Down: SAB Capital Returns All Outside Money

Yesterday, in keeping with what has become a daily tradition, we asked a simple question: "Which hedge fund will close today." It turns out that despite our intention, the question was not rhetorical because just a few hours later Bloomberg answered, when it reported that the latest hedge fund casualty was another iconic, long-term investor: Scott Bommer's SAB Capital, which as of a year ago managed $1.1 billion, and which is now returning all outside money.

"Some Folks Are Selling" - Stocks & Commodities Suddenly Slammed

It appears the machines will have their work cut out today to keep the 'green for 2015' dream alive today as the last 30 minutes have seen selling accelerate across stock and commodity markets with bonds and the dollar bid.

The Next Time Your Financial Advisor Tells You To Buy Stocks, Show Them This Chart

Perhaps mom and pop investors should show the following chart to their financial advisors, who directly or indirectly work for these institutions, and ask them: why should they be buying, when the counterparty they are buying from is, most likely, this very same financial advisor?

Time For Torches & Pitchforks: The Little Guy Is About To Get Monkey-Hammered Again

The prospect that the leaders of our monetary politburo are about to be tarred and feathered by economic reality might be satisfying enough if it led to the repudiation of Keynesian central planning and a thorough housecleaning at the Fed. Unfortunately, it will also mean that tens of millions of retail investors and 401k holders will be taken to the slaughterhouse for the third time this century. And this time the Fed is out of dry powder, meaning retail investors will never recover as they did after 2002 and 2009.

Crude Oil Prices Suffer Biggest 2-Year Bloodbath On Record

With yet another false-dawn of crude prices blowing in the wind of cash-flow generation desperation, we thought it an appropriate time for a bigger picture glance at the state of the carnage in crude...

The Minimum Wage Hike Hangover Arrives: Dining Out To Cost 10% More Starting January 1

Obama To Hit New "Friend" Iran With Fresh Sanctions Over Contested Ballistic-Missile Program

On the heels of a “close call” in the Strait of Hormuz on Sunday, Washington is preparing new sanctions against a handful of companies and individuals tied to Tehran’s ballistic-missile program. "We've been looking for some time‎ at options for additional actions related to Iran's ballistic missile program based on our continued concerns about its activities,” an unnamed US official says. Iran calls the new actions "illegal."

Frontrunning: December 31

  • Oil ends 2015 in downbeat mood; hangover to be long, painful (Reuters)
  • Recession, retrenchment, revolution? Impact of low crude prices on oil powers (Guardian)
  • Midwest Flooding Might Make the Oil Glut Worse (BBG)
  • From Oil Glut to Shortage? Some Say It Could Happen (WSJ)
  • Ten Years After Blowup, Amaranth Investors Waiting to Get Money Back (WSJ)
  • China Fires a Warning Shot at Yuan Speculators With Bank Bans (BBG)

Red Or Green For The Year: Decision Time For US Markets On Last Trading Day Of 2015

It has come down to this: a year in which the US stock market (led by a handful of shares even as the vast majority of stocks has dropped) has gone nowhere, but took the longest and most volatile path to get there, is about to close either red or green for 2015 based on what happens in today's low-volume session following yesterday's unexpected last half hour of trading "air pocket" which brought the S&P back to unchanged for the year.

Something Just Broke In The U.S. Silver Market

After looking over all the figures, it seems as if something broke in the U.S. Silver Market this year. By that, we mean the normal supply and demand forces no longer make sense.

Swiss Army Chief Warns Of Social Unrest, Calls Upon Citizens To Arm Themselves

Swiss army chief André Blattmann warned, in a Swiss newspaper article on Sunday, the risks of social unrest in Europe are soaring. Recalling the experience of 1939/1945, Blattman fears the increasing aggression in public discourse is an explosively hazardous situation, and advises the Swiss people to arm themselves and warns that the basis for Swiss prosperity is "being called into question."

Guest Post: "American Capitalism" No Longer Serves Society

America is being destroyed by problems that are unaddressed. Unbridled greed, short-term in nature, will continue to drive America into the ground.


from KafkaWinstonWorld:

Bail-in’s taking place in Italy. Only a matter of time before you get bailed-in. I know that many of you have people in your lives who are just not listening. All you can do is pass along this information to them, and let go of the results.

Montreal Implements TOTAL Ban of Pollinator-Killing Pesticide

by Christina Sarich, Natural Society:
Here is some great news for the New Year! Montreal, Canada is banning neuro-toxic neonicotinoids that have been linked to bee colony deaths, in order to save our pollinators, and our food supply. [1]
Neonicotinoids (neonics) are a class of nicotine-based pesticides that are sprayed everywhere. You will find over fifty varieties of seeds which grow into valuable fruits and vegetables sprayed by neonics. You’ll find neonics sprayed on golf courses, and football fields.
Though Montreal had limited the use of this debilitating class of pesticides in the past, it has now banned them completely due to mounting evidence that the chemicals cause disorientation, severe reproductive problems in the queen, and even early death in bee colonies. [2] [3]
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