Hartnett: "This Is The World's Most Painful Chart"

Submitted by Tyler Durden on 03/18/2016 - 10:22
The World's Most Painful Chart...uncanny correlation between Chinese renminbi & Facebook/Petrobras pair-trade (Chart 1); few have been positioned for 2016's biggest pain trade...appreciation of the renminbi; CNH (China renminbi), CL1 (oil), H0A0 (high yield) = lead indicators of risk rally, drivers of performance pain.

WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths

Submitted by Tyler Durden on 03/18/2016 - 11:47 WTI Crude has given up all its early morning "see oil is fixed" gains in a hurry as once again the algo ramps give way to the realization that, as OilPrice's Leonard Brecken via OilPrice.com,notes, comes even as for all intents and purposes OPEC has nearly reached its production limits and Iran still plans in increasing output.

Citadel Down 8% In 2016 Due To Collapsing Liquidity, Forced Liquidations

Submitted by Tyler Durden on 03/18/2016 - 11:29 Through march 11, or one month since the prior update, Citadel had lost another 1.5% and is now down 8% in its main hedge funds "as the $25 billion firm lost money in a unit that has helped drive profits in recent years." “Some managers were liquidating sizable portfolios in a short period of time into a market with challenging liquidity characteristics,” said Adam Blitz, chief investment officer at Evanston Capital Management. The sales were significant, he said, given the amount of leverage many of the firm firms use to amplify returns.

This Simply Does Not Compute: If Caterpillar Data Is Right, The Industrial Depression Has Never Been Worse

Submitted by Tyler Durden on 03/18/2016 - 09:32 Something simply does not compute when looking at the latest CAT retail sales data.



Is Anybody still Ignorant enough to follow this Shill...

How To Trade The Stock Market According To Jim Cramer

Submitted by Tyler Durden on 03/18/2016 - 11:09 "We're in a bear market — we can't get away from it," warned CNBC's Jim Cramer on February 5th, exclaiming that "the stock market is not working." A month later - following a 13%, almost irrepressible ramp in stocks - Cramer has changed his tune, explaining last night that "signs of a massive rally could be coming." We wonder, with contrarianism like this (combined with his confidence that "Deutsche Bank is not systemic"), is Cramer the new Gartman?

The Stunning Size Of China's Housing Bubble In One Chart

Submitted by Tyler Durden on 03/18/2016 - 10:45 Nothing does China's housing bubble justice quite like a simple chart showing what is going on right now with home prices in Shenzhen, which incidentally also puts the housing bubble in the context of China's recently burst stock market bubble. No comment  necessary.
 

Here Is The Math: Trump "Almost Certain" To Win Republican Nomination Before Convention

Submitted by Tyler Durden on 03/18/2016 - 08:26

Hillary Is A Neocon

from Washington’s Blog:

“For this former Republican, and perhaps for others, the only choice will be to vote for Hillary Clinton. The party cannot be saved, but the country still can be.” —Robert Kagan
“I have a sense that she’s one of the more competent members of the current administration and it would be interesting to speculate about how she might perform were she to be president.” —Dick Cheney
“I’ve known her for many years now, and I respect her intellect. And she ran the State Department in the most effective way that I’ve ever seen.” —Henry Kissinger
Read More

Consumer Confidence Tumbles To 5-Month Lows As "Hope" Fades

Submitted by Tyler Durden on 03/18/2016 - 10:09 But, but, but - low gas prices, high stock prices... everything is awesome. It appears not even the average joe American consumer is fooled by the latest manufactured rally in stock prices as UMich confidence tumbles to 5-month lows (90 vs 92.2 exp) with future expectations "hope" perfectly anti-correlated with the surge in stocks...

US Ally: Democracy, Freedom Have "Absolutely No Value Any Longer"

Submitted by Tyler Durden on 03/18/2016 - 09:51 Concerns about Turkish President Recep Tayyip Erdogan’s authoritarian leanings have been at the fore in the nation’s political dialogue since he assumed the presidency, and appear to have been well founded, as in a televised speech today he declared “democracy, freedom, and the rule of law have absolutely no value any longer.”

This Simply Does Not Compute: If Caterpillar Data Is Right, The Industrial Depression Has Never Been Worse

Submitted by Tyler Durden on 03/18/2016 - 09:32 Something simply does not compute when looking at the latest CAT retail sales data.

"Wrong Way Gartman"

Gartman Has Less Than $2 To Live As Oil Rises Above $42

Submitted by Tyler Durden on 03/18/2016 - 08:48 WTI crude extends it exuberant ramp to a 3rd day - heading for its 5th weekly gain - the longest since May, climbing above $42, reaching its highest in 3 months amid dollar weakness, falling output, and continued hope of a production freeze (at record levels with a record glut and weakening demand).What is most worrying, however, is this means Dennis Gartman has just a $2 window until "the end of his lifetime" at the dreaded $44.

Why Currency Traders Are So Confused

Submitted by Tyler Durden on 03/18/2016 - 08:05 "The FX market is confusing this year. More easing by the BoJ, the RBNZ, the Riksbank, the ECB and the Norges Bank, led to stronger currencies, despite delivering more than markets had expected in all cases. The market seems to be taking recent monetary policy easing as evidence that central banks are reaching their limits, as their forward guidance has sent mixed signals."

Frontrunning: March 18

• Dow's Freakish Bounce Makes Investors Whole, Can't Erase Doubts (BBG)
• R.I.P. Dollar Rally as Dovish Fed Spurs Worst Slump Since 2011 (BBG)
• Global Currencies Soar, Defying Central Bankers (WSJ)
• Oil hits 2016 high above $42 on production and demand outlook (Reuters)
• The U.S. Is Exporting Its Oil Everywhere (BBG)
• Hillary Clinton’s Allies Launch Plan to Undercut Donald Trump Now (WSJ)

Tiffany Slashes Guidance, Sees Q1 Earnings Down As Much As 20%, Three Time Worse Than Consensus

Submitted by Tyler Durden on 03/18/2016 - 07:25 TIF just lowered EPS guidance for Q1, and now sees EPS down 15-20%, nearly three times worse than the consensus estimate of -7%. The company also issued Q2 guidance of down 5-10%, and expects growth to resume in the second half.  Finally, TIF issues downside guidance for FY17, sees EPS unchangd to down mid single digits from $3.83 vs. $3.88 Capital IQ Consensus; it also sees FY17 revs equal to last year's $4.10 bln) vs. $4.15 bln Capital IQ Consensus. Basically more deteriorating earnings all around, offset by the company removing the number of outstanding shares.

Japan Curve Inverts After 10-Year Yield Drops To New Record Negative Low

Submitted by Tyler Durden on 03/18/2016 - 07:06 It was just last week when we observed and reported a highly amusing example of what excessive central bank meddling hath wrought in DM government bond markets. Just nine days later, the very same dynamic that sent JGB 10s on a wild two-day ride played out again - only in reverse.

On Opex Day, It's All About The Dollar: Futures, Oil Levitate As USD Weakness Persists

Submitted by Tyler Durden on 03/18/2016 - 06:52 It may be option expiration day (always leading to abnormal market activity) but it remains all about the weak dollar, which after crashing in the two days after the Fed's surprisingly dovish statement has put both the ECB and the BOJ in the very awkward position that shortly after both banks have drastically eased, the Euro and the Yen are now trading stronger relative to the dollar versus prior. As DB puts it, "the US Dollar has tumbled in a fairly impressive fashion since the FOMC on Wednesday with the Dollar spot index now down the most over a two-day period since 2009" which naturally hurts those countries who have been rushing to debase their own currencies against the USD.

The Gloves Are Off: Trump Accuses Hillary Of Being "Involved In Corruption For Most Of Her Professional Life"

Submitted by Tyler Durden on 03/17/2016 - 23:34

Putin & The Failure Of Washington's Propagandist Predictions

Submitted by Tyler Durden on 03/17/2016 - 22:30 The American presstitutes are captives of their own propaganda and are now surprised at the failure of their propagandistic predictions. Having stripped the Islamic State of offensive capability and liberated Syria from the Washington-supported terrorists, Putin has now shifted to diplomacy. If peace fails in Syria, the failure cannot be blamed on Russia.

Koch Fronted Regulatory Hit Woman Edges Closer to Seat on SEC

by Pam Martens and Russ Martens, Wall Street on Parade:
Democrats sitting on the U.S. Senate Banking Committee at Tuesday’s confirmation hearing to take testimony from President Obama’s two nominees for the Securities and Exchange Commission (SEC) must have felt like they were having an out of body experience — listening to the human personification of billionaire Charles Koch’s money aping his Ayn Rand, anti-regulatory double-talk from a witness seat. What had to be particularly nauseating to them was that this nominee was sent to them by President Obama who ran as a Democrat on a platform of hope and change. While the political makeup of the SEC is prescribed by law, so that one of these two nominees had to be a Republican, why pick this particular Republican?
On October 20, 2015, President Obama announced that his nominee to fill a Republican seat on the SEC would be Hester Peirce, a Senior Research Fellow and Director of the Financial Markets Working Group at the Mercatus Center at George Mason University. According to SourceWatch, the Mercatus Center “was founded and is funded by the Koch Family Foundations.”
Read More…

Obama Celebrates ‘Women’s History Month’ With Pelosi and Planned Parenthood President

from CNSnews:
At a White House reception Wednesday honoring Women’s History Month, President Barack Obama paid tribute to Planned Parenthood President Cecile Richards and House Minority Leader Nancy Pelosi.
“Welcome to the White House,” Obama said, before thanking Sana Amanat, an editor of Marvel comic books who had introduced him.
“Thank you, Sana, for your incredible work,” he said. “Ms. Marvel may be your comic book creation, but I think for a lot of young boys and girls, Sana is a real-life superhero.
Read More

Jihadi Peace Negotiator: Kill Bashar al-Assad

by Kurt Nimmo, Infowars:
Mohammed Alloush, a member the High Negotiations Committee (HNC), the Saudi and Turkish formed opposition group taking part in Syrian peace talks in Geneva, has called for the murder of Bashar al-Assad.

“Yesterday, the person who represents Jaysh al-Islam made an irresponsible statement in which he threatened to kill the president of Syria. He was inciting to commit a terrorist act. This is a violation of the SC resolution 2253, 2299, 2278, 1989, 1924,” said Bashar Ja’afari, the current Permanent Representative of the Syrian Arab Republic to the United Nations.

In January Alloush was appointed chief negotiator of the Supreme Commission for Negotiations. Jaysh al-Islam (Army of Islam) is a coalition of Islamist and Salafist groups fighting to turn Syria into an Islamic state under Sharia law. Saudi Arabia is responsible for the creation of the group. It has given Jaysh al-Islam millions of dollars to “arm and train” its fighters. Pakistani instructors have also worked with the coalition.

Read More

/