Presented with little comment, aside to ask: "where are the liquidity-providers?"
This week shapes up as one which could go down in the history books!
Markets last week were tumultuous from weak equities, illiquid credit
markets, FOREX markets in disarray and commodities hitting the skids
…yet the Federal Reserve is intent on hiking rates? Have they taken
this position because the markets are strong? Or because the economy
…anywhere on the planet is overheating? Before looking at “this week”, I have seen it said by many, “the Fed must raise rates to have any credibility left”. This is true to an extent but there is one core reason and one of their own making. You see, the fake data and outright lies have been coming out of Washington in such regularity and magnitude the Fed has been painted into a corner. They either raise rates “because things are so good” or they don’t …as a sign things aren’t so good. It has been for this reason I have had an eye out looking for some manufactured (false flag) event that takes the Fed off the hook.
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How To Determine If Your Fund Is At Risk Of Runs, Gating And Liquidation, In One Chart
Submitted by Tyler Durden on 12/14/2015 - 11:25 In light of surging concerns about mutual and hedge fund fixed income (and soon other asset classes) "gating", "runs" or outright liquidation, Deutsche Bank has prepared the following infographic which summarizes the main choke points which predispose both open and closed-end funds to runs or outright shutdown.
Dubai Crude Price Crashes To Lowest Since 2004, Stocks Hit 2 Year Lows
Submitted by Tyler Durden on 12/14/2015 - 11:05 Dubai Light Crude prices have plunged overnight, crashing the spot price below the 2008 lows for the first time, to its lowest since 2004. This is continuing to weigh on Dubai's once-exuberant equity market which just hit fresh 2-year lows as financials and property companies plunge.
All The World's Debt (And Yield)
Submitted by Tyler Durden on 12/14/2015 - 10:46 Define irony: a world in which the past 7 years have been characterized by an unprecedented "search for yield." Well, now that junk debt is finally dumping, and yields are suging (over 8% blended average at last check) virtually nobody wants any of this so highly yielding junk.
High Yield Bond ETFs Tumble To Friday's Lows, Break Below Lehman-Aftermath Lows
Submitted by Tyler Durden on 12/14/2015 - 10:33 High yield bond ETFs are down for the 8th day in the last 9, retracing the modest bounce from Friday afternoon, plunging to new multi-year lows. In fact, at current levels HYG is trading below the lows it hit in the immediate aftermath of the Lehman collapse (Sept 2008).People Are Finally Worried About People Being Worried
Submitted by Tyler Durden on 12/14/2015 - 10:10
We won't be shocked if the Fed actually follows through and hikes rates this week. If they put off hiking every time the market has a little hissy fit, they’ll never get off zero. On the other hand, the stress in markets right now is real and growing.
Raising interest rates doesn’t seem likely to improve those conditions.
With a riot in the junk bond market, a complete lack of inflation and
an already weakening economy, we won't be shocked if they pass either. For the first time in years, it appears people are actually worried about people being worried.
Navy's New, "Truly Unstoppable" Warship Breaks Down Three Weeks After Launch
Submitted by Tyler Durden on 12/14/2015 - 09:50 "The spirit of the people of Wisconsin is evident in the ... USS Milwaukee. It is this spirit that will live on through this ship as it carries the name Milwaukee across the globe."
NatGas Bloodbath Accelerates Amid LNG Glut Worse Than Oil
Submitted by Tyler Durden on 12/14/2015 - 09:30 With Nattie down 6% in early trading, the most in 2 months, pressing to new record lows and oil prices continuing their carnage, the energy complex is a mess. OilPrice.com's Nick Cunningham warns, while the glut in oil is expected to continue for the next year or so before balancing in late 2016, the pain for liquefied natural gas (LNG) could be just beginning...
Key Events In The Coming "Fed's First Hike In 9 Years" Week
Submitted by Tyler Durden on 12/14/2015 - 09:22 While this may well be the most important week for capital markets in the past 9 years, when the Fed is widely expected to hike rates on Wednesday, precisely 7 years to the day since it cut rates to zero, here are the other key events to watch out for.
Commodity Currencies Are Soaring As Crude, Stocks Bounce
Submitted by Tyler Durden on 12/14/2015 - 09:11 In an effort to wrestle S&P 500 to VWAP, to enable panicking professional sellers out, a sudden bid for crude oil and commodity currencies appeared shortly after 8amET...
SocGen Looks At The Devastation Across Markets, Sarcastically Concludes It Is "Time For A US Rate Hike"
Submitted by Tyler Durden on 12/14/2015 - 08:53 "The solution to uncertainty is cheaper valuations. If problems are priced in, investors can afford to look through near terms concerns and focus on the longer term. Worryingly, we have exactly the opposite situation today. Average stock valuations are close to historical highs – so we have lots of risk and little in the way of valuation cushion.... Time for a US rate rise then?"
Gartman: "Our Bond Fund Took A Sizeable 'Hit' On Friday"
Submitted by Tyler Durden on 12/14/2015 - 08:29 "Our bond fund took a sizeable “hit” on Friday following the news of the refusal on the part of the Third Avenue fund to allow for immediate redemptions where those unable to sell their positions in Third Avenue sold what they could and where they could to gain access to liquidity."
High Yield ETFs Are Already Tumbling In The Pre-Market
Submitted by Tyler Durden on 12/14/2015 - 08:20 Small doors, large crowds. Amid yet more liquidations (Brazilian Bank BTG flushing its European credit exposure and Lucidus US HY fund), the large high-yield bond ETFs are tumbling in pre-market as two years worth of under-water easy-money trend-followers head for the exits from the "highly liquid" ETFs.. . and crush what little liquidity there is in the underlying. When will The Fed step in and buy US HY debt to stymie "fire-sale" prices?
Why Fund Gates Are Terrible News For Great Asset Managers
Submitted by Tyler Durden on 12/14/2015 - 08:13 "One of the sad side-effects, is successful strategies, with liquid investments that are built for volatile markets and have no gates, become the piggy-bank for everyone that needs cash."
Another High Yield Domino Falls As $900 Million Lucidus Capital Liquidates
Submitted by Tyler Durden on 12/14/2015 - 08:04 Moments ago, a third domino fell as Lucidus Capital Partners, a high-yield credit fund founded in 2009 by former employees of Bruce Kovner’s Caxton Associates, has liquidated its entire portfolio and plans to return its $900 million in AUM.
Why Stocks Have So Far Ignored The Carnage In Credit: Goldman's Five Reasons
Submitted by Tyler Durden on 12/14/2015 - 07:22 Despite the decline in stock valuations, US equities have performed far better than credit, causing investors to ask us, “What does the credit market see that the equity market does not?” Credit markets are reacting to a real deterioration in corporate balance sheets that the equity market has yet to digest. High yield (HY) credit spreads have widened dramatically since June and are currently in territory typical of recessionary environments. In contrast, the S&P 500 is just 6% below its all time high of 2131 reached in May of this year. Here are five observations...
Futures Resume Slide After Oil Tumbles Below $35, Natgas At 13 Year Low; EM, Junk Bond Turmoil Accelerates
Submitted by Tyler Durden on 12/14/2015 - 06:51 With just 72 hours to go until Yellen decides to soak up to $800 billion in liquidity, suddenly we have China and the Emerging Market fracturing, commodities plunging, and junk bonds everywhere desperate to avoid being the next to liquidate.
The Neocon's Hegemonic Goal Is Driving The World To Extinction
Submitted by Tyler Durden on 12/13/2015 - 21:45 As in George Orwell’s 1984, the IMF is dividing the world into warring factions - the West vs. the BRICS. To avoid the coming conflict that the neoconservatives’ pursuit of American hegemony is bringing, the Russians have relied on fact-based, truth-based diplomacy. However, neocon Washington relies on lies and propaganda and has many more and much louder voices. Consequently, it is Washington’s lies, not Russia’s truth, that most of the Western sheeple believe. The Western peoples are so dimwitted that they have not yet understood that the “war on terror” is, in fact, a war to create terror that can be exported to Muslim areas of Russia and China in order to destabilize the two countries that serve as a check on Washington’s unilateral, hegemonic power.
"It's An Epic Bloodbath" - Presenting The 2015 Junk Bond Heatmap
Submitted by Tyler Durden on 12/13/2015 - 21:41 Here is a visualization of the change in junk bond prices since January 1, 2015. For those confused, the redder the worse.
S&P 500 Breaks Below Key 2,000 Level, Lowest In 2 Months
Submitted by Tyler Durden on 12/14/2015 - 11:19 For the first time October 15th, S&P 500 cash has broken below the key "everything is awesome" 2,000 level...from The Wealth Watchman:
Brothers, a few weeks ago the Fed held a closed-door, emergency meeting. I’d written about this meeting just before it happened, but wasn’t able to immediately follow up on it with what was likely discussed. I’d like to take a moment today to go over what they likely dealt with, because it speaks volumes about what we are now facing on the world economic scene.
Several things have just come to light in recent days which spell huge trouble for the financial system, and for the US Dollar. While these events are forcing the Fed to now act out of desperation, this recent headline in particular, telegraphs that something very serious lies ahead.
Read More…
Are we about to witness widespread panic in the global financial marketplace? This week is shaping up to be an absolutely critical week for global stocks. Coming into December, more than half of the 93 largest stock market indexes in the world were down more than 10 percent year to date, and last week stocks really started to slide all over the world. Here in the United States, the Dow Jones Industrial Average is down about 600 points over the past week or so, and at this point it is down more than 1000 points from the peak of the market. That brings us to this week, during which the Federal Reserve is expected to raise interest rates for the very first time since the last financial crisis. If that happens, that could potentially be enough to accelerate this “slide” into a full-blown crash.
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Live by the mercenary sword, die by it.
from Professor Doom1:
filed under (unt ).
from Western Journalism:
In a slam-bang takedown summation of the Democratic presidential front-runner, Republican president candidate Donald Trump said Hillary Clinton lacks “the strength or the stamina” needed to run the country.
Trump further summed up Clinton as “terrible,” denounced her record as secretary of state and said she should not even be allowed to run for office due to the email scandal engulfing her. Clinton “caused tremendous havoc and tremendous death,” he said.
Trump’s comments came during a Fox & Friends interview Saturday hen he was asked about the former first lady as well as his Republican rivals. The Hillary Clinton segment of Trump’s talk starts about the 7 minute mark.
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In a slam-bang takedown summation of the Democratic presidential front-runner, Republican president candidate Donald Trump said Hillary Clinton lacks “the strength or the stamina” needed to run the country.
Trump further summed up Clinton as “terrible,” denounced her record as secretary of state and said she should not even be allowed to run for office due to the email scandal engulfing her. Clinton “caused tremendous havoc and tremendous death,” he said.
Trump’s comments came during a Fox & Friends interview Saturday hen he was asked about the former first lady as well as his Republican rivals. The Hillary Clinton segment of Trump’s talk starts about the 7 minute mark.
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from Black Listed News:
AT THE END OF THE YEAR IN WHICH HILLARY CLINTON LEFT HER POSITION AS SECRETARY OF STATE, 2013, THE OBAMA REGIME’S USA WAS VOTED, IN WIN/GALLUP’S GLOBAL POLL, AS THE GREATEST THREAT TO PEACE IN THE WORLD, WITH THE RUNNER-UP, US-ALLY PAKISTAN, RECEIVING THREE TIMES FEWER VOTES, AND RUSSIA RECEIVING TWELVE TIMES FEWER VOTES.
This was largely due to multiple international crimes committed by the US, such as aggressive bombings and subversions of elected governments, which were co-schemed and staunchly advocated by Hillary Clinton, and ultimately ordered and perpetrated by Barack Obama.
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AT THE END OF THE YEAR IN WHICH HILLARY CLINTON LEFT HER POSITION AS SECRETARY OF STATE, 2013, THE OBAMA REGIME’S USA WAS VOTED, IN WIN/GALLUP’S GLOBAL POLL, AS THE GREATEST THREAT TO PEACE IN THE WORLD, WITH THE RUNNER-UP, US-ALLY PAKISTAN, RECEIVING THREE TIMES FEWER VOTES, AND RUSSIA RECEIVING TWELVE TIMES FEWER VOTES.
This was largely due to multiple international crimes committed by the US, such as aggressive bombings and subversions of elected governments, which were co-schemed and staunchly advocated by Hillary Clinton, and ultimately ordered and perpetrated by Barack Obama.
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by Martin Armstrong, Armstrong Economics:
Armstrong Economics/PEI has always been a very diverse company with clients and staff from all around the world. We have every race, religion, and social status among our ranks servicing clients of equal diversification. So, a ban on anyone from the Islamic faith entering the USA is not something I would support, obviously, and it would cause us problems to say the least. I would not worry about it because it could not be implemented and right now, it is popular so Trump gains in the polls to the bewilderment of career politicians and the press.
Yet, the media is anti-Trump because they want the status-quo and will only mouth whatever their boss has to say because “mainstream” media is the product of big corporations with agendas (e.g. FOX vs. MSNBC). The truth is that this reaction is entirely normal.
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Armstrong Economics/PEI has always been a very diverse company with clients and staff from all around the world. We have every race, religion, and social status among our ranks servicing clients of equal diversification. So, a ban on anyone from the Islamic faith entering the USA is not something I would support, obviously, and it would cause us problems to say the least. I would not worry about it because it could not be implemented and right now, it is popular so Trump gains in the polls to the bewilderment of career politicians and the press.
Yet, the media is anti-Trump because they want the status-quo and will only mouth whatever their boss has to say because “mainstream” media is the product of big corporations with agendas (e.g. FOX vs. MSNBC). The truth is that this reaction is entirely normal.
Read More
from Sputnik News:
Russia has a number of advantages that can ensure the country’s military forces will succeed in a hypothetical armed conflict, if it ever happens, American columnist Loren Thompson claims.
As the tension between the world powers appear to escalate, stories suggesting how the hypothetical conflict between Russia and the NATO bloc would unfold are increasingly more common in various media outlets. And in this potential standoff, Russia has lots of advantages that could help it to gain an upper hand, Loren Thompson, a Chief Operating Officer of the non-profit Lexington Institute and a columnist, wrote for Forbes magazine.
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Russia has a number of advantages that can ensure the country’s military forces will succeed in a hypothetical armed conflict, if it ever happens, American columnist Loren Thompson claims.
As the tension between the world powers appear to escalate, stories suggesting how the hypothetical conflict between Russia and the NATO bloc would unfold are increasingly more common in various media outlets. And in this potential standoff, Russia has lots of advantages that could help it to gain an upper hand, Loren Thompson, a Chief Operating Officer of the non-profit Lexington Institute and a columnist, wrote for Forbes magazine.
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from Wolf Street:
The Canadian dollar swooned 1% against the US dollar on Friday, to US$0.7270, after having gotten hammered for the past six of seven trading days. It’s down 5% in December so far, 15.5% year-to-date, and 31% from its post-Financial Crisis peak of $1.06 in April 2011. It hit the lowest level since June 2004.
It got clobbered by the commodities rout, given their importance to the Canadian economy, the multi-year decline in the prices of metals, minerals, and natural gas, and then starting in mid-2014, the devastating plunge of the price of oil.
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The Canadian dollar swooned 1% against the US dollar on Friday, to US$0.7270, after having gotten hammered for the past six of seven trading days. It’s down 5% in December so far, 15.5% year-to-date, and 31% from its post-Financial Crisis peak of $1.06 in April 2011. It hit the lowest level since June 2004.
It got clobbered by the commodities rout, given their importance to the Canadian economy, the multi-year decline in the prices of metals, minerals, and natural gas, and then starting in mid-2014, the devastating plunge of the price of oil.
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by Paul Craig Roberts, PaulCraigRoberts.com:
My warning that the neoconservatives have resurrected the threat of
nuclear Armageddon, which was removed by Reagan and Gorbachev, is also
being given by Noam Chomsky, former US Secretary of Defense William
Perry, and other sentient observers of the neoconservatives’ aggressive
policies toward Russia and China.
Daily we observe additional aggressive actions taken by Washington and its vassals against Russia and China. For example, Washington is pressuring Kiev not to implement the Minsk agreements designed to end the conflict between the puppet government in Kiev and the break-away Russian republics. https://www.rt.com/news/325687-ukraine-rhetoric-sabotage-churkin/ Washington refuses to cooperate with Russia in the war against ISIS. Washington continues to blame Russia for the destruction of MH-17, while preventing an honest investigation of the attack on the Malaysian airliner. Washington continues to force its European vassals to impose sanctions on Russia based on the false claim that the conflict in Ukraine was caused by a Russian invasion of Ukraine, not by Washington’s coup in overthrowing a democratically elected government and installing a puppet answering to Washington.
Read More
My warning that the neoconservatives have resurrected the threat of
nuclear Armageddon, which was removed by Reagan and Gorbachev, is also
being given by Noam Chomsky, former US Secretary of Defense William
Perry, and other sentient observers of the neoconservatives’ aggressive
policies toward Russia and China.Daily we observe additional aggressive actions taken by Washington and its vassals against Russia and China. For example, Washington is pressuring Kiev not to implement the Minsk agreements designed to end the conflict between the puppet government in Kiev and the break-away Russian republics. https://www.rt.com/news/325687-ukraine-rhetoric-sabotage-churkin/ Washington refuses to cooperate with Russia in the war against ISIS. Washington continues to blame Russia for the destruction of MH-17, while preventing an honest investigation of the attack on the Malaysian airliner. Washington continues to force its European vassals to impose sanctions on Russia based on the false claim that the conflict in Ukraine was caused by a Russian invasion of Ukraine, not by Washington’s coup in overthrowing a democratically elected government and installing a puppet answering to Washington.
Read More
by L.J. Devon, Natural News:
Toddlers as young as 18-months-old are being treated like experimental
rats, drugged up with some of the most brain-damaging, life-altering
psychotic pills. These are the kinds of pills that cause wild delusions, aggressive impulses, erratic behavior, or in some cases, cause violent and suicidal thoughts. Why do parents, doctors, psychologists and neurologists continue to disregard these appalling side effects?
Take the example of 5-month-old Andrew Rios, a newborn who began having seizures (which is a common side effect of vaccines by the way). When Andrew turned 18 months, a neurologist put the toddler on an epilepsy drug called felbamate, which immediately evoked violent behavior in the young child. As the young boy’s life was being ripped apart by the medical system, a neurologist intervened again to prescribe Risperdal, an experimental drug used on adults diagnosed with bipolar disorder and schizophrenia. The drug caused the young boy to experience violent and delusional fits of insomnia. He often jolted awake in his sleep screaming, while interacting in a delusional manner with objects that weren’t present in the room.
Read More
Toddlers as young as 18-months-old are being treated like experimental
rats, drugged up with some of the most brain-damaging, life-altering
psychotic pills. These are the kinds of pills that cause wild delusions, aggressive impulses, erratic behavior, or in some cases, cause violent and suicidal thoughts. Why do parents, doctors, psychologists and neurologists continue to disregard these appalling side effects?Take the example of 5-month-old Andrew Rios, a newborn who began having seizures (which is a common side effect of vaccines by the way). When Andrew turned 18 months, a neurologist put the toddler on an epilepsy drug called felbamate, which immediately evoked violent behavior in the young child. As the young boy’s life was being ripped apart by the medical system, a neurologist intervened again to prescribe Risperdal, an experimental drug used on adults diagnosed with bipolar disorder and schizophrenia. The drug caused the young boy to experience violent and delusional fits of insomnia. He often jolted awake in his sleep screaming, while interacting in a delusional manner with objects that weren’t present in the room.
Read More
from VictoryIndependence:
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