This Is Canada's Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks "And The Worst Is Yet To Come"

Submitted by Tyler Durden on 12/23/2015 - 11:34
The news out of Canada - and especially out of Alberta, the heart of the country's oil patch - has just gone from disturbing to downright terrifying. On the heels of data which shows that suicide rates among Albertans are soaring, new reports from the Calgary Police Service and Food Banks Canada show sharply higher rates of violent crime and food bank usage as the slump in crude continues to eat away at the fabric of Canadian society.

Atlanta Fed Q4 GDP Forecast Tumbles To Lowest Yet, Sliding To 1.3%

Submitted by Tyler Durden on 12/23/2015 - 11:21 According to the just revealed latest forecast by the most accurate forecaster of GDP, the Atlanta Fed, with all the latest data in hand, the US economy is now estimated to have grown just 1.3% in the fourth quarter, down from 1.9%, and the lowest print it has had throughout the forecast period which started in late October.

The War On Terror Has Created 6500% More Terrorism

Submitted by Tyler Durden on 12/23/2015 - 11:11 An analysis of terror attacks since 2002 suggests U.S. efforts to combat terrorism - i.e., the "War on Terror" - have led to a dramatic increase in death and suffering from terrorism.

The Trade Wars Begin: U.S. Imposes 256% Tarriff On Chinese Steel Imports

Submitted by Tyler Durden on 12/23/2015 - 10:45 There is one thing that could dramatically slow down China's metal exports - tariffs, anti-dumping duties and other forms of protectionism.  “What may slow down the exports is anti-dumping and protectionist measures that several countries have taken against cheap imports,” said Ernst & Young’s Agrawal. In other words, a trade war... which is precisely what the U.S. just launched by hiking tariffs on Chinese steel imports by a whopping 256%.

The Housing Recovery Was Just Cancelled (Again) Due To 5 Months Of Downward Revisions

Submitted by Tyler Durden on 12/23/2015 - 10:44 Not only were there downward revisions between the November and October "government data", but as the chart below shows, over the past 5 months the data has been consistently "revised lower" with every incremental release.

Crude Holds Gains After Biggest Inventory Draw In 6 Months Offset By Major Build At Cushing

Submitted by Tyler Durden on 12/23/2015 - 10:38 API's reported huge 3.6mm drawdown in total crude inventories (against expectations of a 2.33mm build) was just the catalyst to send crude prices soaring overnight and DOE just confirmed it with a massive 5.88mm draw - the largest in over 6 months. However, initial exuberance was tempered as Cushing saw a 2.045mm build - its 7th week in a row. And finally, crude production rose for the second week in a row.

Spot The 'Odd' Housing Data Out

Submitted by Tyler Durden on 12/23/2015 - 10:07 Following Existing Home Sales sudden collapse catch down to reality (blamed on new paperwork timing), New Home Sales in November printed 490k SAAR (missing expectations of 505k). Historical revisions enabled a 'rise' MoM but we note that new home sales in The Northeast crashed 28.6% (after a huge spike in October) while The West saw sales rise 20.5% MoM (seriously!!??).

30Y Treasury Yield Surges Back Above 3.00% Pre-Fed Hike Levels

Submitted by Tyler Durden on 12/23/2015 - 09:31 Having seen long-bond yields collapse on heavy volume immediately after The Fed's decision last week to hike rates, it appears the "policy error" message was just too much to bear for an un-manipulated market. The last 2 days have seen a very light volume 13bps surge in 30Y yields, now back above the Maginot Line of 3.00% - erasing any "policy error" questions post-Fed... for now.

WTI Crude Algos Run Stops To FOMC Cliff At $37

Submitted by Tyler Durden on 12/23/2015 - 09:12 From $35.35 lows (in Feb contract) on Monday, WTI crude has extended its overnight post-API inventory gains, pressing up to $37, running the stops to last week's FOMC meeting moves. Let's just hope DOE does not disappoint (and don't forget to look at Cuhsing storage getting full).

"To Make The Payment Is Almost Impossible": Puerto Rico Defaults (Again) In T-Minus 9 Days

Submitted by Tyler Durden on 12/23/2015 - 09:05 "To make a total payment will be almost impossible. If a partial payment is made: what bonds should we pay? It is an assessment that is being done. It is highly unlikely that there will not be default, in whole or partially."

"Core" Durables Goods Orders Plunge For 10th Consecutive Month As Defense Spending Soars Most In 8 Years

Submitted by Tyler Durden on 12/23/2015 - 08:55 If it wasn't for America's war machine, the economy would be deep in recession. Defense spending (aircraft and parts) soared 148% in the last 3 months - biggest such rise since 2007 managing to squeeze Durable Goods Orders overall to unchanged in Nov (vs -0.6% exp). That's the good news. Everywhere else you look bad. Core Capex fell 1.93% YoY - the 10th consecutive YoY drop - something not seen before outside of recession.

Personal Income, Spending Increase By 0.3% In November As Savings Rate Dips To 5.5%

Submitted by Tyler Durden on 12/23/2015 - 08:53 The end result was that in November personal savings was $748 billion, a $9.4 billion decline from the $757 billion a month ago, which translates into a 5.5% savings rate, down from last month's 5.6%, however well above the average rate seen over the past 12 months as consumers continue to be unwilling to dip into their savings despite the so-called "gas" tax cut.

Key Global Equity Index Back On The Precipice

Submitted by Tyler Durden on 12/23/2015 - 08:21 An index that tracks the world’s largest stocks is testing its post-2009 uptrend... again.

Someone Bets Big On $15 Crude As OPEC Forecasts Oil Demand Slumping Until 2020

Submitted by Tyler Durden on 12/23/2015 - 08:04 Investors have bought increasing volumes of put options that will pay out if the price of WTI drops to $20 to $30 a barrel next year. The largest open interest across options contracts - both bullish and bearish - for December 2016 is for puts at $30 a barrel. The open interest for June 2016 put options at $25 a barrel has nearly doubled over the last week. Investors have even bought put options that will pay if WTI drops below $15 a barrel by December next year. The volume of financial bets at that level is tiny - 640,000 barrels in total.

In Major "Psychological" Victory, Iraq Liberates Sunni "Heartland" From ISIS

Submitted by Tyler Durden on 12/23/2015 - 07:43 As Baghdad gears up for an assault on ISIS-held Mosul, the Iraqi army has managed to liberate Ramadi, the "heartland" of the country's Sunni community. “We went into the center of Ramadi from different axes, and we started clearing residential areas. The city will be cleared within the coming 72 hours."

Santa Rally Lifts Global Stocks For Third Day: Will Volumeless Levitation Push The S&P Green For 2015?

Submitted by Tyler Durden on 12/23/2015 - 06:55 With just a handful of trading sessions left in the year, this is how the major global markets look as 2015 is about to close. As of this moment, and in keeping with the Christmas spirit, the biggest question is whether the S&P500 will close green or red for the year.




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