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Articles by Deus Irate
Foreign Buyers Avoid Poor, Tailing 3Y Auction With Lowest Bid to Cover Since 2009
It had been an ugly day for bonds all day, with 10Y yields rising to day's highs moments ago, rising as much as 1.427%, and as such it was hardly a surprise that today's Treasury sale of $24 billion in 3 year paper was anything but impressive. In fact, it was downright ugly. The high yield of 0.765%, while a steep drop from last month's 0.93%, tailed the When Issued 0.761% by 0.4 bps. The internals were also rather ugly: the bid to cover of 2.69 was the lowest since July 2009.
Multiple Suspects On The Loose In Orlando - Why The Media Blackout Of Eyewitness Accounts?
Submitted by Shepard Ambellas via Intellihub.com, According to heavily censored eyewitness reports, totally suppressed from the mainstream, there were likely several other radicalized perpetrators involved with Saturday night’s terror attack, which led deaths of 49 club-goers at Pulse and over 50 others being injured.
Maduro's Last Stand: Venezuela Declares State Of Emergency
From extending the weekend, to rationing electricity, to running out of money to print money, we've been covering the real-time events that have occurred in Venezuela as it devolved into a completely failed state. Sadly, last night as starving citizens looted marketplaces in search of food, we predicted that a civil war was almost inevitable, and that Nicolas Maduro would do what he could to hang on for dear life (literally).
Another Headline Head Fake - The Consumer Can't Save The U.S. Economy
After a week in which all the big retailers—Macy’s, Kohl’s, Nordstrom’s, Gap, JC Penney, Dillard’s——reported exceedingly downbeat results for their April quarter, it is not surprising that the Census Bureau’s statistical fabrication mill reported robust April retail sales. Likewise, you could count on the financial press to trot out the superlatives, as in the case of the Reuters’ headline proclaiming, “U.S. retail sales rise strongly, boost economic outlook”: Not exactly.
Economic Collapse Logistics For The Government
When a national currency collapses, the government goes into survival mode and does what is necessary to insure its continued existence. The state power becomes all important and citizens become expendable. The state exists for it’s own fulfillment. When the monetary system collapses along with the banks, the government will still need a way to pay government employees to insure they continue enforcing the governments will.
Warning Signs | Zero Hedge
It is quite amazing that amount of optimism surrounding the housing market which has yet to recover substantially from post-financial crisis lows given the exorbitant amount of monetary stimulants injected into it. The chart below shows the Total Housing Market Activity Index which is a composite of new and existing home sales, permits and starts. Yes, housing has recovered, but remains well below levels seen in 1999. But let’s not let a trivial matter of data get in the way of a good story.
Electile Dysfunction?
- The inability to become aroused over any candidate for POTUS, put forth by either party... The last few weeks - as the presidential nomination campaigns approach their climaxes - an odd thing has happened to the front-runners in both parties: their popularity has collapsed. As WSJ reports, the entire field of candidates, on both sides of the aisle, suffers a popularity deficit: Not one is regarded favorably by more than 50% of registered voters.
The Next Crisis Will Be THE Crisis
For six years, the world has operated under a complete delusion that Central Banks somehow fixed the 2008 Crisis. All of the arguments claiming this defied common sense. A 5th grader would tell you that you cannot solve a debt problem by issuing more debt. If the below chart was a problem BEFORE 2008… there is no way that things are better now. After all, we’ve just added another $20 trillion in debt to the US system. However, there is an AWFUL lot of money at stake in believing these lies.
China's Mass Unemployment Wave Begins: Six Million Workers To Get Pink Slips
Back in November, just as the world's attention was focusing on China for long-overdue reasons including a slowing economy, debt at well over 300% of GDP, an artificially high exchange rate whose devaluation is causing market shockwaves around the globe, a reflating housing bubble, a burst stock market bubble and non-performing loans, as high as 20%, when we pointed out the one "most under-reported" risk virtually nobody was talking about: Chinese employment.
Global Manufacturing Rolling Over: Over 70% Of Global PMIs Decline In February
Moments ago we got the two latest monthly US manufacturing surveys in the form of the downbeat Markit PMI, according to which "the February data add to signs of distress in the US manufacturing economy", offset by the traditionally more optimistic ISM, whose chair Bradley Holcombe went so far as to say "US manufacturing may have found a bottom." Then overnight we also received the latest Markit manufacturing sentiment update from around the globe.
JPM: "Things Have Gotten Out Of Control: People Have More Confidence In Gold Than In Paper Money"
Following the biggest one-day surge in the price of gold since 2009, it is understandable that suddenly everyone who until recently was predicting the price of gold in the triple digits, or laughably explaining why "gold is doomed" wants to talk about the "pet rock." As we showed earlier, already Goldman and Bank of America have opined with new and upwardly mobile "price targets", while the scramble to obtain gold in a world drowning not only in negative rates but soon, cash bans, has already...
Brazilians Cancel Vacation Plans As 50 Million Metric Tons Of "Noxious Mud" Turns Ocean Brown
2015 was not kind to Brazil. In addition to a seemingly intractable political crisis that has rendered Congress effectively useless when it comes to passing legislation aimed at shoring up an increasingly precarious fiscal situation, the country is also mired in what might as well be a depression.
Obama Warns World's Anti-Christians: "The Wrong Shall Fail, The Right Prevail"
Statement by the President on Persecuted Christians at Christmas During this season of Advent, Christians in the United States and around the world are preparing to celebrate the birth of Jesus Christ. At this time, those of us fortunate enough to live in countries that honor the birthright of all people to practice their faith freely give thanks for that blessing.
The World's Strangest Currencies
For centuries, humans from all around the world have tried to use different things as money. Some forms, which most people are familiar with today, have been effective catalysts for trade over thousands of years. Other currencies, from squirrel pelts to parmesan cheese, have had their time or place in human history, but were ultimately unsuccessful or made obsolete. The path to finding the best money has been long and riddled with trial and error.
BofAML Fears "Violent" Unwinds As Central Bank 'Put' Expires
The power of the Central Bank 'Put' also shows the risk of its loss, warns BofAML's global equity derivatives group, implicitly creating a highly unstable and fragile market place. Central banks have had a tremendous impact on financial markets in the last seven years, which is never more apparent than when looking at the world through the volatility lens.
Do Not Show Fed's Lockhart This Chart
There's this - *LOCKHART: FED RATE RISE WAS VOTE OF CONFIDENCE IN U.S. ECONOMY And then there's the market's reaction to this "vote of confidence." Do you feel more or less confident now?
"I Know Of No One Who Predicted This": Russian Oil Production Hits Record As Saudi Gambit Fails
In late October, we noted that for the second time this year, Russia overtook Saudi Arabia as the biggest exporter of crude to China. Russia also took the top spot in May, marking the first time in history that Moscow beat out Riyadh when it comes to crude exports to Beijing.
Gold & Silver Jump Ahead Of Fed On Concerns About "World's Most Crowded Trade"
Is this supposed to happen on the day the Fed's rate hike is "boosting confidence in the economy" and telegraphs more gains for the dollar? Or perhaps these are just early hints that the world's most crowded trade, being long the USD, is starting to crack? Average: Your rating: None Average: 4 (4 votes)
Janet Yellen Explains Why Rate-Hikes Are Bullish - Live Feed
In her first post-rate-hike press conference, Janet Yellen is about to go to extreme lengths to explain just how dovishly bullish raising interest rates is, despite leaving the Fed Funds forecast unchanged since September (i.,e. not dovish). We look forward to her explaining why she is raising rates now - as opposed to September - as economic data has nosedived and the market has done a significant job on contracting credit already.
The War on Drugs Has Cost Taxpayers Over 1 Trillion Dollars
The “war on drugs” costs Americans a staggering amount of money every year that it persists. Despite the billions they receive, federal, state and local law enforcement have a proven inability to stem the flow of drugs on the nation’s streets. Since Richard Nixon declared a war on drugs in June 1971, the cost of that “war” had soared to over $1 trillion by 2010.
Pains For Trains From Automobiles
With global freight costs collapsing, as China trade dries up, status-quo-hugging talking heads have point to America's car sales and picture some islandic isolation that means investors in US equities are immune. Well that little dream just burst. Rail freight carloads tumbled 5.1% in October, dramatically accelerating the 1.6% drop in Q3 as a strong dollar crimps exports, retailers whittle down excess inventory and energy investment stalls.
China Captures Its "Victory Over Smog" With Dramatic Time Lapse Video
After days of hazardous pollution forced people to wear masks and huddle indoors, residents of Beijing turned their attention to the mayor, Wang Anshun, and his bold vow last year to clear the air. As JapanTimes reports, Wang said, if pollution wasn’t brought under control by 2017, he would cut off his own head and present it to the country’s leadership.
Volkswagen To Offer Cash To Diesel Car Owners After Engineers Admit To Emissions Manipulation
In the aftermath of the Volkswagen emissions manipulation scandal, things for the giant German car maker appear to be going from bad to worse with every passing week.
Good News Is Terrible News: Dollar Surges As Bonds, Stocks, Commodities Purge After Payrolls Print
"Everything is awesome." The Fed got just what it wanted... surge in jobs and a surge in wages - which has sent December rate hike odds from 56% to 72%. This appears to be a problem for everything else. The dollar has soared (EURUSD almost a 1.06 handle), Bond yields have exploded (though the long-end is notably outperforming), stock prices plunged, and commodities across the board are getting hammered.
US Manufacturing PMI At 7-Month Highs As Canada's Crashes To Record Low (Below China)
Amid a slew of sometimes contradictory Manufacturing data, Canada appears to have suffered the most with its Markit PMI tumbling to 48.0 - a record low. Canada's weakness puts it below China (based on China's Caixin/Markit measure). US manufacturing rose marginally from its preliminary 48.0 print to end October at 48.1, highest since March. Despite this 'strength' Markit is careful to warn a rate hike would be premature. So everything is awesome in America - just don't raiase rates...
RANsquawk PREVIEW: FOMC Monetary Policy Meeting Decisions & Projections - 17th September 2015
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