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Articles by Kaiser Sousa
Stocks Surge On Biggest Short Squeeze Since Election As Dollar Dumps To Worst Year Since 2009
Stocks are at record highs (so is debt) so get out and consume America... VIDEO Ugly week for China... German stocks just could not decide what to do this week after Merkel's mishaps... But solid EU PMIs seemed to spur manic Euro buying... Unsurprisingly on the most seasonally-bullish week of the year, US stocks were up...Small Caps outperformed (Dow/S&P lagged) S&P closed above 2600 for the first as VIX flash crashed into the early close...
"The Police Just F**ked My Life" - Alabamians Outraged As Civil Asset Forfeitures Soar
The morning of June 29, 2010, began much like any other day for Frank Ranelli, the owner of FAR Computers in Ensley, Alabama. Ranelli, who had owned his computer repair business just outside of Birmingham for more than two decades, was doing some paperwork in his windowless office when he heard loud banging on the front door.
Stocks Surge To Moar Record Highs But Taylor Chatter Spooks Bonds, Dollar, & Gold
Another day, another record high... VIDEO To begin - 'Murica, fuck yeah!! North Korea headlines and 'John Taylor For Fed Head' headlines prompted some turmoil in FX markets, bond markets, and commodity markets... but stocks didn't even blink... Trannies were worst with Small Caps clinging to unch but GS, AAPL, JPM, and TRV accounted for 100% of the points gains in The Dow... The machines really wanted Dow 23,000 amid a very chaotic day in VIX land today... Small Caps continue to tread water...
US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions
In an unexpectedly strong diplomatic escalation, one day after China agreed to vote alongside the US (and Russia) during Monday's United National Security Council vote in passing the watered down North Korea sanctions, the US warned that if China were to violate or fail to comply with the newly imposed sanctions against Kim's regime, it could cut off Beijing’s access to both the US financial system as well as the "international dollar system." Speaking at CNBC's Delivering Alpha conference on...
Central Banks Have Purchased $2 Trillion In Assets In 2017
In his latest "flow report", BofA's Michael Hartnett looks at the "Disconnect Myth" between rising stocks and bonds and summarizes succinctly that there is "no disconnect between stocks & bonds." Why? The best, and simplest, explanation for low yields & high stocks is simple: so far in 2017 there has been $1.96 trillion of central bank purchases of financial assets in 2017 alone, as central bank balance sheets have grown by $11.26 trillion since Lehman to $15.6 trillion.
Here's How Many Americans Are Living Paycheck To Paycheck (Hint: It's A Lot)
Is your family forced to count down the days each month until the next paycheck arrives? If so, you're part of a staggering, and growing, majority of households in America, the richest country on the planet, that is forced to do the same. According to a new poll conducted by Harris Poll on behalf of CareerBuilder, over three-quarters of American households are forced to live paycheck to paycheck to make ends meet.
Turmoil In Tech, Trannies, & Tobacco As Dollar Dumps To 2-Year Lows On Dismal Data
Some folks' stocks turmoiled but the message is clear... VIDEO Mixed bag on the week with Trannies tumbling most since Brexit, Dow outperforming on earnings beats, and tech weighing on Nasdaq and S&P... Today's goal was to get the S&P green on the week and the instrument of choice was monkeyhammering the VIX again...BUT it failed! Retailers and Energy stocks were best on the week and Utes worst... Despite equity gains today, protection remained bid as VIX had its biggest weekly gain in 2 months...
Wasserman-Schultz IT Aide Arrested At Dulles Airport While Attempting To Flee Country
Just a day after reports emerged that the FBI had seized a number of "smashed hard drives" and other computer equipment from the residence Imran Awan, the former IT aide of Debbie Wasserman-Schultz, we learn that Awan has been captured at the Dulles airport while attempted to flee the country. According to Fox News, Awan has been charged with bank fraud. BREAKING: House staffer Imran Awan arrested at Dulles and charged with bank fraud, per @FOXNews.. Awan worked for @DWSTweets.
Treasury Turmoil Returns As Fed-Flip-Flop Sends Stocks To Record Highs, VIX Below 10
Yellen's speaking again... give it all you've got!! VIDEO Stocks stalled early on (around 1010ET) thanks to inflation comments from Yellen, but that dip was bid back to the highs...then they took a little spill when Fed's Brainard admitted "asset valuations do look a bit stretched" around 1400ET. Once again the rally-monkeys came out - even as it became clear that GOP will not have the votes for the revised healthcare bill... Nasdaq up 5 days in a row - the longest streak since May...
How Long Will Banks Screw Their Customers On Deposit Rates...As Long As You Allow Them To
As we're all well aware by now, once Trump was elected on November 8th the Fed suddenly decided it was no longer necessary to prop up asset prices in the United States with artificially low interest rates. As such, they've embarked on their first rate-hiking spree since the last one ended just over a decade ago.
Ray Dalio: The Central Bank Era Is Ending "So Let's All Thank Them"
For some inexplicable reason, Ray Dalio still thinks the the world not only underwent a deleveraging, but that it was "beautiful." Not only did McKinsey prove that to be completely false two years ago, but for good measure the IIF confirmed as much last week, when it revealed that global debt has hit a record $217 trillion, or 327% of GDP... ...
US Student, Auto Loans Hit New All Time High Of $2.6 Trillion
One month after we, and every other financial media, reported that US credit card debt had risen back over $1 trillion for the first time since January 2017, the Fed demonstrated just how meaningless such reports are when in its latest consumer credit report it revised the total stock of revolving debt back under $1 trillion for the month of March, while boosting December's amount to $1,000.1 billion, meaning that all those "$1 trillion in credit card" debt headlines were about 4 months late.
Big Institutionals Sold The Most Stocks Since Brexit As Retail Investors Can't Stop Buying
By now it is generally accepted that the primary source of fund inflows into stocks (aside from buybacks of course) are ETFs, the retail investor's new favorite passive investing vehicle. On the other side, are outflows from active managers - mutual and hedge funds - such as Och Ziff which as presented earlier today, suffered its biggest YTD redemptions and drop in AUM in history.
Rate Hike Hammers Dollar; Stocks, Bonds, & Bullion Soar
Before we start, we want to point out that if the Atlanta Fed GDPNOW forecast of 0.9% for Q1 is correct, this will be the weakest economic backdrop for the economy for a rate hike since 1980!! (according to Bloomberg data). All we can say is... VIDEO The reaction post-Fed was dramatic to say the least - the Dollar dumped and bonds, stocks, and bullion jumped higher in price... VIX flash-crashed as The Fed statement hit...
Stocks Soar To Record Highs As Peso Jumps Most In A Year
Just seemed appropriate... VIDEO Ugly GDP helped take US Macro to its worst weekly drop in over 3 months... Stocks had their best week in 2 months...(Trannies best, S&P worst) Banks had a great week...(post-Inauguration) But we wanted to bring this to stock traders' attention... Note however that the short-squeeze highs were hit on Wednesday's open... VIX plunged to its 2nd lowest close in 11 years... and note the desperate VIX plunge to get Dow back above 20100 into the close...
Tech, Small Caps Suffer Worst Week In 10 Months As Trump Hangover Hits
Everyone's doing it, just follow them...
Buyers Remorse? Trump Supporter Was Foreclosed On By Treasury Pick Steve Mnuchin
Submitted by Mike Krieger via Liberty Blitzkrieg blog, Two days after Donald Trump’s election victory, I expressed the following sentiment in a post titled, Draining the Swamp? Wall Street is Already Loving Donald Trump: To conclude, this article is primarily written for all my readers who are either Trump supporters, or who reluctantly voted for him. My message to you is that we need to hold this man’s feet to the fire. The election is over, and you got your desired outcome.
Angry Mobs Lock Up Indian Bankers As Cash Chaos Escalates: "We Are Fearing The Worst"
India's demonetization campaign is not going as expected. Overnight, banks played down expectations of a dramatic improvement in currency availability, raising the prospect of queues lengthening as salaries get paid and people look to withdraw money from their accounts the Economic Times reported.
Another Day, Another Record High... "This Is A No Brainer"
Some thoughts for tomorrow... VIDEO First things first... Small Caps were up again today - of course - the 14th straight day of gains and the longest streak since Feb 1996. Russell 2000 is the most overbought since 2003...7th Intraday recod high in a row... 8th record close in a row, most since 1996 The nasdaq closed red today as S&P scrambled into the green at the close... With that silliness out of the way...
As TPP Dies, Asian Nations Salute Their New "Free Trade" Leader: China
Over the weekend we reported that as Obama was speaking at the APEC summit in Peru, hoping to salvage his global trade legacy, the TPP, China's President Xi Jinping officially called for the launch of the Free Trade Area of Asia-Pacific for "institutional guarantee of open economy", a move many had expected would take place as China was eager to fill in the void left by the US in any trans-Pacific trade treaty.
Monte Paschi Begins Bondholder "Bail-In": Will Equitize Over €4 Billion In Junior Bonds
Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact.
German Streets Descend Into Lawlessness
Submitted by Soeren Kern via The Gatestone Institute, During the first six months of 2016, migrants committed 142,500 crimes, according to the Federal Criminal Police Office. This is equivalent to 780 crimes committed by migrants every day, an increase of nearly 40% over 2015. The data includes only those crimes in which a suspect has been caught. Thousands of migrants who entered the country as "asylum seekers" or "refugees" have gone missing.
Saudi Finance Minister Al Assaf Fired On Royal Orders
While mostly taking place behind the scenes, it has been a rather calamitous month for developments in Saudi Arabia: one day before the record, inaugural $17.5 billion Saudi bond priced, news broke that for the first time, a member of the Saudi Royal Family, had been executed for murder in what until then had been an unprecedented fall from grace for a member of the chosen royal elite.
Deplorable!! American Consumer Confidence Tumbles To Lowest Since 2015
Despite all the jobs, all the talk, and all the policy changes, American consumer confidence is unchanged since 2 years ago... What a bunch of deplorable, pessimistic, whining, skeptics!!
Draghi: "So Far We Have Not Seen An Evidence Of Bubbles"
One month ago, during the Fed's September press release, she was asked if she is "worried about bubbles in the economy because of our prolonged low interest rates?" This was her response: Yes.
VIX-Slam Saves Stocks From China Turmoil As Copper Crashes
An oldie but a goodie... Didn't work today... VIDEO China's return from Golden Week combined with a dismal dump in ist trade data overnight has seenYuan volatility back on the rise... Stocks are the biggest losers post-Fed Minutes... Crude inventories rose, jamming oil lower, and then the narrative changed on the build (it was an imaginary build that was actually a yuuge draw) and oil ripped back above $50 and supported stocks...
Quant Qrash Slams Stocks, Batters Bonds
"probably nothing" VIDEO A stunned universe of mainstream media dipbuyers were perplexed today as stocks AND bonds tanked. The reason is simple - what goes up (record levels of correlation between stocks and bonds driven by the idiocy of central banks)... Must come down (levered long risk-parity funds forced to liquidate/delever as their models explode). So stocks are sold, bonds are sold, and volatility is forced higher... As RBC's Charlie McElligott warned last week...
Stocks & Bonds 'Pounded' After Biggest Risk-Parity Plunge In Over 6 Months
Well that was a week... VIDEO Post-Payrolls, Crude was the biggest loser as stocks, bonds, and gold ended unch... Small Caps and Trannies were worst on the day... Stocks had their first down week in a month... Futures show the real craziness in this week's market... Crazy day in VIX complex and stocks... Notice the standard BTFD ramp on a payrolls day lifted stocks to VWAP...
About That Deutsche "Settlement" Rumor: Cryan Hasn't Even Started Negotiations With The DOJ
Friday's market session was about one thing: will Deutsche Bank stock close the week ahead of a three day holiday at a record low. It did not because, as we reported, the AFP announced that based on "sources" (most likely from Twitter), the DOJ was willing to reduce the $14 billion settlement that sent DB stock on a rollercoaster ride over the past two weeks, to just under $6 billion.
Guns Sell Out In Charlotte As Local Police Refuses To Release Shooting Video
With both a state of emergency implemented and the national guard deployed in Charlotte overnight following a second night of rioting, there was hope the mood in the city tonight would be less violent.
Hillary Has Until September 29 To Respond - Under Oath - To These 25 Questions
Judicial Watch announced on its website today that it has submitted a list of 25 questions to Hillary Clinton regarding her email practices while serving as Secretary of State. Pursuant to a decision by U.S. District Court Judge Emmet G. Sullivan, Hillary has 30 days to respond, under oath, to the questions. Per federal law, Judicial Watch was limited to a total of 25 questions.
Global Economic Bellwether Cisco To Unveil Massive Layoffs - 20% Workforce Fired
It's easy to shrug off the sharpest productivity decline in 40 years and the worst non-recessionary industrial production contraction in US history because... well it's the new economy, stupid and you just don't get it. But when 'new economy' networking giant Cisco is reportedly set to announce it is laying off a record number of employees - 14,000 representing 20% of its global workforce - surely it is time to question the "everything is awesome" narrative.
Bernie Supporters Boo, Jeer After Call To Vote For Clinton-Kaine
Somewhere, Donald Trump is grinning... While positive on beating Trump, Bernie Sanders' delegates boo and jeer after he asks them to support the Clinton-Kaine ticket...
Capitol On Lockdown Again, Two Held In Custody - Live Feed
Earlier today the US Capitol was on lockdown, with the all clear given just a few minutes later. Now, it's time for the second such event of the day, when according to media reports there has been a nearby shooting prompting a police presence on location, just as US lawmakers prepares to leave for 7 week recess on Thursday, one day earlier than expected. BREAKING: US Capitol, visitors center on lockdown with police investigating.
Lessons From The Worst Banking Crisis In History
Submitted by Tim Price via SovereignMan.com, It’s ironic that some of the most honest words to come out of a politician’s mouth were, “When it becomes serious you have to lie.” That was a quote from Jean-Claude Juncker, former Prime Minister of Luxembourg and President of the European Commission (the EU’s executive branch) in 2011 when asked about Greece’s financial crisis. Greece was on the ropes and the entire system about to collapse, so, of course they lied. Then they lied about lying.
Goldeja-vu - How The Bear Ends
Submitted by Pater Tenebrarum via Acting-Man.com, Gold Continues to Mimic the 1970s Ask and ye shall receive… we promised we would update the comparison chart we last showed in late November in an article that kind of insinuated that it might be a good time to buy gold and gold stocks (see: “Gold and Gold Stocks – It Gets Even More Interesting” for the details). We are hereby delivering on that promise. A Lydian gold stater from the time of the famously rich King Croesus, approx. 570 BC.
This Is All That Was Left Of The Crashed Self-Driving Tesla
While it is no longer a secret that Elon Musk has been handing out NDA to those Tesla buyers who have encountered "quality control" issues to prevent any negative publicity from leaking out about his overhyped vehicle, he will have a difficult time limiting the damage control from a deadly crash two months ago that claimed the life of its driver who was allegedly watching a DVD while the car was on autopilot.
Not Even Death Will Help You With Student Loans
Student loans are incredibly difficult to discharge, even through bankruptcy, this is widely known. However in New Jersey, it appears as though student loans are still expected to be paid, even if someone gets cancer or even dies. This is something that Marcia DeOliveira-Longinetti learned when trying to close out a list of things to take care of after her son's unsolved murder last year.
Credit Suisse Raises Gold, Silver Price Targets To $1,500; $18.75, Sees "Significant Physical Deficit"
Just days after Goldman threw in the towel on its bearish gold call, the gold bulls are crawling out of the woodwork and none has been more vocal than Credit Suisse which moments ago hiked its gold price forecast to $1,500 which the world's 3rd most systematically risky bank expects the yellow metal will hit in the first quarter of 2017.
S&P Futures Halted Limit Down As VIX Spikes Above 26
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US Manufacturing PMI Jumps In June But "Domestic Demand Remains Worryingly Weak"
Great news... Markit's US Manufacturing PMI (flash) for June beat expectations, rising to 51.4 from 50.7, driven by the fastest rise in exports since Sept 2014 (cough weaker dollar cough) as Input costs rose by the most in 18 months.
America's Seen 50% Surge In Partisan Conflict Since Obama's Second Term Started
'Hope & Change' and devolved into Nope & Deranged... Since the start of President Obama's second term, Goldman Sachs note that the Partisan Conflict Index has averaged 50% higher than its 30 year average. So who is to blame? President Obama's divisiveness? Or The Federal Reserve's extremely accommodative monetary polict removing any need for actual decision-making?
S&P Analyst Admits: Central Banks Have Destroyed Any Chance Of Fiscal Reform
We have said for many years that accommodative monetary policy completely removes the burden from politicians that would require them to actually make difficult decisions around fiscal reforms, and now Standard & Poor's is saying the same thing. Speaking in London on Tuesday, S&P's top EMEA analyst Moritz Kraemer said that there was a strong relationship between government bond yields, an indicator of how much countries must pay to borrow, and their willingness to undertake structural reforms.
Stocks Steady Amid Brexit Bounce, Yellen Yawn, & Copper Chaos
Seemed appropriate... VIDEO The polls and the bookies are very far apart... Which impacted Cable but stocks didn't care... Equity market volume was abysmal... Stocks really went nowhere today with Trannies and Small Caps underperforming... But are still up notably from the moment Jo Cox death was announced... Short-term vol soared...
Stocks Slump Most In 4 Months As Global Financial Stress Nears 5-Year Highs
With everyone worried about Brexit, we thought the folowing might help clarify (Please Note - Very Not Suitable For Work)... VIDEO ok it didn't help at all but we've been wanting an excuse to play that for a while. Global Financial Stress Index spikes up most since Aug 2011... As Brexit polls surge towards "Leave"... As USDollar Scarcity (panic demand) rears its ugly head again... And GDP-weighted European Sovereign risk surged to 2 year highs...
Reuters 'Explains' Today's Market Move
Uncertain WTF happened today in every market? Reuters has the unbelievable answer... As shocking as that Reuters' headline is, it appears - for now - to be exactly the catalyst that sparked panic-buying in Sterling, on hopes that a Brexit vote may be delayed, which in turn lifted all risky boats dramatically...
Bank Of America Set To Fire 8,000 As Banker Layoffs Accelerate
A few months ago we pointed out that mass layoffs were coming for bankers due to declining revenues and more difficult market conditions, and now we're seeing the first major wave of that come to fruition.
Forget Complex Hacking, Companies Have Lost $3 Billion Falling For A Simple Email Scheme
It turns out that hackers don't need to break into SWIFT transactions at big banks or even the Federal Reserve in order to get funds wired to their accounts. Cyber criminals just need to create fake email accounts and send an email to the right employee at a business and accomplish the same result with a lot less effort.
World Out Of Whack! (Some Week In June Of 2016)
By Chris at www.CapitalistExploits.at Every Wednesday we'll be publishing some of the most extraordinary market distortions on this ball of dirt. We call it the WOW, as in "Wow, what a crazy world!" or "Wow, that's truly insane". We are eager for the day we struggle to find markets to bring to your attention, though that doesn't seem like any day soon. Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing.
QE: The Good, Bad And Ugly (Or, Why War Is Coming)
Submitted by Axel Merk via Merk Investments, Are we better off with "QE", the ultra-accommodative monetary policy pursued by major central banks around the world? Is it "mission accomplished" or are we facing a "ticking time bomb"? Are extreme characterizations even warranted to describe the unconventional monetary policy of recent years, and what are implications for investors?
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