Thursday, January 21, 2016

Is Something Blowing Up In OIL?

A week ago we warned of some insane movements and mysterious bid in OIL (the Barclays iPath oil tracking ETN) as it traded a stunning 36% rich to its underlying NAV. Well with oil resurgent today, as contracts roll, something just imploded in OIL...

Recession Signs - 2008 & Now

Is the economy “nowhere near recession?” Maybe. Maybe not. But the charts above look extremely similar to where we were at this point in late 2007 and early 2008. Could this time be “different?” Sure. But historically speaking, it never has been.

Venezuela Hits "Point of No Return" - 2016 Bankruptcy Is "Difficult To Avoid" According To Barclays

The economic emergency decree and any measures that the government could take at this point may be too late. After two years of inaction and the recent decline in oil prices, a credit event in 2016 is becoming increasingly difficult to avoid, in our view.  After two years of inaction, with depleting external assets and the recent decline in oil prices, a credit event in 2016 may be becoming hard to avoid, in our view.

If This Isn't The Start Of The Crisis, Imagine How Bad The Real One Will Be

Maybe this is it. Maybe the global financial system has truly reached its limit. Maybe the world has realized that the path to prosperity is not in conjuring money out of thin air, raising taxes, or going deeper into debt. Maybe people have finally figured out that an insolvent government and insolvent central bank cannot possibly continue to underpin the entire financial system. Or maybe not. But the incredible thing is how much panic there has been, particularly in banking and financial markets, just at the mere HINT of problems in the system.

Canada Rebels against the Destruction of the Loonie

from Wolf Street:
The fear of “currency instability.”
“Without precedent” — that’s what National Bank of Canada’s chief economist Stéfane Marion called the wholesale destruction of the loonie.
The Canadian dollar is in a tailspin. Rarely has it tumbled so far so fast, and against so many currencies. The steepness of the CAD’s depreciation against the USD is without precedent, -33%, or 3.5 standard deviations, in 24 months.
In the two weeks so far this year, the loonie has dropped 5.8% against the euro, 5.3% against the greenback, and 8.6% against the yen.
Read More

Schlumberger Fires 10,000 As It Announces A $10 Billion Stock Buyback

When your organic growth is over, and your revenue just missed consensus expectations once again ($7.74Bn vs $7.77BN expected) what do you do? Why you announce a $10 billion stock buyback, but since you will have to fund it with more debt (which in recent weeks has gotten far more expensive, you have to get rid of costs. How do you do that? Why you announce you are firing 10,000 workers.

"Is That It?"- Global Jawbone & Crude Pump Fails To Ignite Equity Exuberance



Soros Reveals He Is Short The S&P 500: Warns China Will Have A Hard-Landing, Says "Fed Hike Was A Mistake"

There’s been no shortage of commentary from market heavyweights this week thanks to the World Economic Forum in Davos, but for anyone who hasn’t yet gotten their fill of billionaire talking heads, George Soros gave a sweeping interview to Bloomberg TV on Thursday, touching on everything from China to Fed policy to Vladimir Putin to Europe’s worsening refugee crisis. The most important point - for markets anyway - came when Soros revealed that he is short the S&P, and long TSYs.

Losing The '3 Commas': Unicorns Heading For More Difficult "Down Rounds"

It’s not easy being a unicorn these days. With the financial markets crashing, global consumers retrenching and competition heating up, quite a few so-called “unicorns” (high-flying, new economy tech firms) are likely to be facing difficult decisions in the coming months. It won't be just Jack Dorsey who loses his '3 commas'.

"Investors Should Sell Any Bounce Back" Top Investors See More To Come

"You get the sense that there is a broader market issue here...Complacency about the risks of contagion from the weakest segments of high yield is reminiscent of sentiment regarding subprime debt in mid-2007."

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Not 'The Onion' - Hillary Clinton Is Now Running On Her Foreign Policy "Strengths"

When it comes to watching the Hillary Clinton campaign, you need to be prepared for increasingly suicidal and irrational acts of desperation. While the most pathetic of all her shameless acts was saying she is sponsored by Wall Street as a result of the terror attacks on 9/11, the hits just keep on coming.

WalMart Doubles Down On Wage Hike Debacle, Will Give Everyone A Raise Next Month

“At least they are recognizing that the longtime workers who are already making more than $10 need something, but I don't think 2% is enough for employees that often make so little to begin with.”

Who Is Right: Stocks Point To A Half-Recession; Oil Screams A Global Depression

According to stocks, a half-recession is precisely where the US was as of roughly noon yesterday, when the S&P touched an intraday low of 1812. This represents a 15% drop from the all time high close of 2,131 last summer. It also represents half the post-World War II average peak to trough decline around recession, which amounts to roughly 30%.

The Birth Of The PetroYuan (In 2 Pictures)

Central Banks Are Out Of Tricks

Once a central bank program fails to generate a self-reinforcing rally, the mind-trick's power is broken. No one knows precisely how and when the global unraveling will impact their corner of the planet, but we do know one thing with absolute certainty: central banks are out of tricks.

A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

by Michael Snyder, End of the American Dream:

The Italian financial meltdown that we have been waiting for has finally arrived. For quite a long time I have been warning my readers to watch Italy, and now people are starting to understand why. Italian banking stocks continued their collapse for a fifth consecutive day on Wednesday, and nervous Italians are beginning to quietly pull large amounts of money out of the banks. In particular, Monte dei Paschi is a complete and utter basket case at this point. A staggering one-third of their loans are “non-performing”, and the stock price has fallen a staggering 57 percent since 2016 began. Monte dei Paschi is going to need a major bailout, and the same thing could be said about almost all of the largest Italian banks. But where is the money going to come from?
As rumors of trouble at Monte dei Paschi spread, Italians are getting money out of the bank while they still can.
Read More

Saudi Arabia Loses $100 BILLION Per Year Because of Cheap Oil

[Ed. Note: This is great news since Saudi Arabia is a chief exporter of false flag terror.]
from Pravda Report:
Saudi Ministers for Foreign Affairs, Adel al-Jubeir stated that Riyadh was not manipulating the oil market.
Manipulating the oil market and doing it consistently is impossible. “If you are trying to do it, you will eventually lose and pay a huge price for that,” said the minister.
Does Saudi Arabia manipulate the oil market? Pravda.Ru asked this question to Vyacheslav Kulagin, Director of the Center for International Energy Markets at the Russian Academy of Sciences.
Read More

SITUATION CRITICAL — Stock Market Meltdown: The Worst Is Yet To Come

from GregoryMannarino:


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