Friday, March 4, 2016

BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"

BlackRock's Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world's largest asset manager has made a significant decision: It has suspended issuance of Gold Trust shares due to "surging demand for gold." It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices.

German Banks Told To Start Hoarding Cash

This is officially an all-out revolution of the financial system where banks are now actively rebelling against the central bank. In a stunningly real rebuttal of Europe's negative interest rate policy, German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH.

"Dealing with Obama is like playing chess with a pigeon, he knocks over all the pieces,
 shits on the board, then struts around like he won." by unknown

President Obama Takes Economic Victory Lap (After Biggest Wage Drop On Record)

Following the smoke-and-mirrors, best-and-worst jobs data today, it seems President Obama is ready to take his victory lap (and likely gloat a little about The GOP debacle) in what appears to be a recorded press event (no live feed). As he expounds on the 'greatest jobs recovery' in modern history (with the biggest drop in wages on record), perhaps the following nine charts will provide a little more color as just what "change" really meant...

The Best And Worst Performing Hedge Funds In 2016: All Hail The "Tulip Trend Fund"

With the S&P 500 set to go green for the year, the best and worst performing hedge funds of the year demonstrate that while the bulk of the marquee names continue to substantially underperfom the broader market, with Tiger, Pershing Square, Glenview and Trian standing out, there are quite a few names that have generated positive results YTD.

Why We're Ungovernable: The "Unprotected" Push Back

The rise of Donald Trump (and similar iconoclasts in other countries) is due to the gradual division of society into the protected - that is, people who make the rules and therefore benefit from them - and the unprotected, who don’t make the rules and end up getting screwed. The latter have finally figured this out and have stopped supporting the former.

WTI Crude Spikes To 2-Month Highs, Best Week Since August

For the seventh day in a row, WTI Crude futures have spiked dramatically intraday off a small dip. With April futures now up almost 9% on the week - the best since Aug 2015, crude is getting closer to unchanged on 2016 (at 2-month highs)...

Greek Stocks Soar Into Bull Market

Following the best 5-day performance of all 93 major global equity markets, the panic-buying in the Greek stock market has lifted the Athens Stock Exchange index over 32% in 3 weeks...

Treasurys Hits "Fails Charge " - Dealers Are Failing To Deliver 10-Year Paper

V-Shaped Recovery Sends Dow Back Above 17,000; S&P Tops 2,000


In The Past Year, The U.S. Added 360,000 Waiters And Only 12,000 Manufacturing Workers

Here is how this "recovery" has looked: since last February, the US has added 360K waiters; in the same time, a paltry 12,000 manufacturing workers have been added as shown in the chart below.

Mitt Romney Is The Real Super-Fraud: Here's The Proof, Chapter And Verse

"...the GOP establishment’s putative “jobs” candidate from 2012 was never really a businessman at all. Willard M. Romney is no expert on shiny things on a hill. The country would be far better served if he would get his dimming light back under a bushel where it belongs."

Over 80% Of Jobs Added In January Were Minimum Wage Earners

A whopping 82% of jobs "created" in February were minimum wage teachers, retail trade, and waiters, bartenders and chambermaids. What about well-paying jobs like finance, trucking, manufacturing or mining? +6K, -5K, -16K, and -18K, for a net loss of 33k jobs.

This Wasn't Supposed To Happen: Weekly Earnings Drop Most On Record

As the chart below clearly shows, based on the data which showed a whopping tumble in average weekly earnings from 878.15 to just 872.04, at -0.7%, this was the biggest monthly drop in the entire series history!

Gold Surges, Stocks Purge As "Good Jobs" Euphoria Fades Fast

The immediate kneejerk rip in stocks (and bond yields) and dip in gold on the "good" jobs headline rapidly faded as the reality of ugly wage data seeped out. Crude is now notably lower, gold higher, stocks lower, and bond yields rallying back...


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