Frontrunning: March 3
3 days after Zero Hedge, here's Bloomberg: Company Cash Bathes Stocks as Monthly Buybacks Set Record (BBG)Israel's Netanyahu to address Congress in speech that has strained ties with Obama (Reuters),...
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Bondholders “Bailed In” In Austria - EU Bondholders Today, U.S. Depositors...
Bondholders “Bailed In” In Austria - EU Bondholders Today, U.S. Depositors Tomorrow?- Auditors find €7.6 billion hole in Austria's "bad bank", Heta Asset Resolution AG- Austria's government says it...
View ArticleFrontrunning: March 4
RBS to cut up to 14,000 jobs in investment banking unit (FT)Doctors, patients scramble ahead of high court Obamacare decision (Reuters)Rajan Cuts India Rates After Modi Agrees to Inflation Target...
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Meet Landlord Loans: You Too Can Be A Real Estate Speculator
Just when we thought the news flow around shoddy loan securitizations couldn’t get any better (or worse, depending on how you look at it), we get this headline from the NY Times: “Equity Firms Are...
View ArticleFrontrunning: March 5
China Lowers Growth Target to About 7% (WSJ)Obesity Is Hurting the U.S. Economy in Surprising Ways (BBG)Embattled Hillary Clinton urges State Department to release emails (Reuters)Washington Strips New...
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"Chinese Economic Activity Has Probably Slowed To Less Than 3%"
In a world in which sell-side research (and even that of independent third-parties) is not only meaningless - because as we first said in 2010 the only thing that matters in the New Paranormal is 'the...
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What Wall Street, And Twitter, Expect From Today's Payrolls Number
The one thing to note about today's "decisive" jobs number, is that most are scrambling to warn that they really have no idea what it will be due to yet another unprecedented instance of cold weather...
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Blackstone Buys America's Most Iconic Skyscraper With Rent Collected As...
As we’ve noted previously, the post-crisis, Fed-subsidized rush to acquire distressed real estate resulted in none other than Blackstone becoming the US’s largest landlord. The giant PE firm — which...
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Start Of European QE Upstaged By Greek Jitters; Apple Unveils iWatch
Because as everyone knows, the one main problem facing Europe today is not trillions on non-performing loans, rampant unemployment, deflation, the surge of anti-austerity political parties coupled with...
View ArticleFrontrunning: March 9
ECB Starts Buying German, Italian Government Bonds Under QE Plan (BBG)Creditors Reject Greece's Reform Proposals (BBG)Is Apple Watch the Timex digital watch of the Internet era? (Reuters)Tesla shedding...
View ArticleFrontrunning: March 10
Dollar at 12-year peak versus euro, emerging markets spooked (Reuters)CIA sought to hack Apple iPhones from earliest days (Reuters)Draghi Urged Greece to Allow Troika Back Before It’s Late (BBG)Brent...
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Fed's Annual Stress Test Results: 28/31 Pass - Deutsche & Santander Fail,...
After all 31 banks passed Dodd-Frank's "stress"-test with flying colors and awaited The Fed's CCAR blessing to spread the wealth to shareholders, we thought ironic that The Fed's Tarullo had previously...
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Beijing, You Have A Big Problem - In Ten Charts
Back in September, when we observed that the "Chinese Commodity Crash Continues", we remarked that a full-blown deflationary episode is upon China as manifested by tumbling commodity prices (because...
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Deutsche Bank Asks "Is The S&P Ready For Rate Hikes?" (Spoiler Alert: No)
Despite plunging macro data and stumbling earnings expectations, Deutsche Bank's (reluctantly less sanguine) strategist David Bianco notes that ECB QE, and a still accommodative Fed managed to push the...
View ArticleFrontrunning: March 12
As reported here first: The U.S. Has Too Much Oil and Nowhere to Put It (BBG)Dollar Drops From 12-Year High as S&P Futures, Bonds Gain (BBG); Dollar Bulls Retreat From 12-Year High to Euro With Fed...
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Deutsche & Santander Fail ‘Stress Tests’ – Risk of Bail-Ins
Deutsche & Santander Fail ‘Stress Tests’ – Risk of Bail-InsLargest banks in Germany and Spain fail Federal Reserve’s ‘stress tests’Stress tests designed to assess whether lenders can withstand...
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The "Great Distortion" - Presenting 300 Years Of European Bond Yields
Things in Europe were normal for about 300 years... and then Mario Draghi's central planning took over.Deutsche Bank shares a collection of charts of 10 year yields back through the centuries for the...
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Under The Hood Of A Subprime Lender Accused Of Illegally Repoing Soldiers' Cars
Santander Consumer — a unit of one of only two banks to receive the dubious honor of failing the Fed’s stress tests yesterday and the market leader in subprime auto lending — allegedly ignored a law...
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The Seal Is Broken: DB Is The First Major Bank To Predict Drop In 2015 S&P500...
Back in early December, when the oil plunge and the dollar surge were not nearly as acute as they are now, we reported that just as a result of these two critical factors, an earnings (if not outright...
View ArticleFutures Rebound After EUR Finds 1.05 Support; China Stocks Soar; Im-"Patient"...
It started off as the perfect storm for futures: after Sunday night's latest plunge in WTI, which saw it drop to the lowest price since Lehman, the double whammy that has now forced Deutsche Bank to...
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