StevieRay Hansen
Liquidation: Stocks, Bonds, Bullion, & Bitcoin All Puked
Well that really did escalate quickly… Today had the feeling of ‘liquidation’ (similar to March) as big-tech stocks (growth/value rotation), bitcoin, bonds, and bullion were all dumped unceremoniously. While Nasdaq futs were bid along with everything else on Putin’s vaccine headlines overnight, it didn’t take long for the growth/value rotation pressure to kick in and send…
Day-Traders Send US Producer Prices Soaring In July
US Producer prices were expected to rise MoM following four declines in the last five months and they did, rising 0.6% MoM (double the expected 0.3% MoM rise). However, this was not enough to unwind the annual deflationary print (PPI -0.4% YoY) Source: Bloomberg This is the biggest MoM jump in headline PPI since Oct 2018.…
Nasdaq Tumbles Into Red, Erases Vaccine Spike As ‘Memo Meltdown’ Continues
All major US equity indices spiked in the early hours overnight on the back of optimistic vaccine headlines from Russia. However, while Russell 2000 futures are holding gains up over 1%, Nasdaq has tumbled into the red as the last few days trend of momo/growth vs value rotation appears to be accelerating… As a reminder, the…
“World On Verge Of Spinning Out Of Control”
Financial writer John Rubino says gold is at new all-time highs, silver is vaulting upward and there is no end in sight for the massive money printing around the world. Rubino say’s if you look deeper, you can see the “real message” in the unfolding events. Rubino explains, “It’s fun to be a gold bug and see…
It’s Happening Again… Investors Dump Everything ‘China’
Global stock markets plunged Friday as tensions between the US and China spiral out of control. Stocks in Hong Kong and mainland China tumbled after Beijing ordered Washington to cease all operations at its consulate in the city of Chengdu. This came days after Washington ordered the Chinese consulate in Houston, Texas, to close. Investors are becoming fearful the tit-for-tat spat between the US and China will…
How Deutsche Bank Helped Con The Public Into Believing In Wirecard
By Tyler Durden More reporting on the Wirecard situation has emerged over the long weekend in the US, and none of it is flattering. As a court-appointed administrator begins the process of managing what’s left of Wirecard through the insolvency process, while doing the best the government can compensate shareholders who were deceived by the onetime fintech…
Who Is The Next Wirecard?
Now that the multi-year saga of German fintech megafraud Wirecard is finally over, the pain is only just starting for disgraced German regulator BaFin (with the EU launching an investigation into its borderline criminal “regulation” which punished short sellers while never once looking at the real fraud). Also let’s not forget about the company’s “auditor” EY (aka…
BoE Warns Of Worst Economic Slump In 300 Years
The Bank of England’s Monetary Policy Committee (MPC) “voted unanimously” to keep the banking rate at 0.1% and left its bond-buying program unchanged despite the country’s worst economic slump in 300 years, caused by coronavirus lockdowns. MPC voted 7-2 to leave its bond-buying program unchanged at £645 billion. Two of its nine policymakers (Michael Saunders and Jonathan Haskel) voted to increase the…
Front-Month WTI Crude Crashes Below Zero For First Time Ever
Over the last several decades, have we ever seen a year start as strangely as 2020 has? Global weather patterns have gone completely nuts, large earthquakes are popping off like firecrackers, it looks like the plague of locusts in Africa could soon develop into the worst in modern history, and a massive plague of bats…