Frontrunning: April 20
Just How Leaky Is the Fed? More Than You May Realize (BBG)Republican Presidential Candidates Spar Over Party’s Future (WSJ)Euro Area Seeks Greece Roadmap to May Agreement (BBG)The $320 Billion Bogey...
View ArticleFrontrunning: April 23
Clinton charities will refile tax returns, audit for other errors (Reuters)China Warns North Korean Nuclear Threat Is Rising (WSJ), or another country realizes war is the only "exit"Shares, euro sag...
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It Just Cost Deutsche Bank $25,000 Per Employee To Keep Its Libor...
And so another historic scandal involving the manipulation and rigging of one of the most important global markets, that of Libor which is the reference security for several hundred trillion in...
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Why Sarao Is The Flash Crash Patsy: He Threatened To Expose The "Mass...
There are several notable items in Bloomberg's comprehensive overnight summary of the epic humiliation America's market regulators are about to undergo, complete with yet another round of theatrical...
View ArticleFrontrunning: April 24
Obama’s Drone-Strike Rules to Be Reviewed (WSJ)Hostage locations difficult to track - and may be getting harder (Reuters)Varoufakis Said to Take Hammering From Riled EU Ministers (BBG)EU Frustration...
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"Let's Take Them On!": Libor E-mails Of Christian Bittar Revealed
Back in 2012 we introduced readers to Christian Bittar, a former prop trader at Deutsche Bank who profited handsomely by betting on the direction of rates he conspired with others to manipulate (recall...
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For Nazi Industrialists And Hitler's Banker "All Was Forgiven"
In recent years, there has been much shock and stunned reactions among the general public as one after another banker avoided any prison time, despite perpetrating (and benefiting from the subsequent...
View ArticleEquity Futures At Session Highs Following Chinese QE Hints; Europe Lags On...
It has been a story of two markets so far, with China's Shanghai Composite up another 3% in today's continuation of the most ridiculous, banana-stand driven move of the New Normal (and there have been...
View ArticleFrontrunning: April 27
Nepal earthquake toll crosses 3700 (Reuters)Greeks Add Pressure on Tsipras to Compromise as Talks Resume (BBG)With No Deal on Greek Bailout Aid in Sight, Some in Europe Suggest ‘Plan B’ (WSJ)BOJ...
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2010 Flash Crash Arrest Motivated By Greed
By EconMatters Whistleblower Program The past week we have made markets safer by arresting the dangerous flash crash villain who was a threat to national security and the health of the entire...
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Failed Chinese Local Bond Offering Leads To PBOC Easing Confusion
Last week, the first province to participate in China’s local government debt swap program delayed a $10.5 billion bond sale. As a reminder, local governments in China are laboring under some 18...
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Debt Pile-Up To Fuel Further Oil Price Pressure
As regular readers are no doubt aware, a long-running theme here has been the vicious deflationary feedback loop inadvertently created by DM central bank policy. In the case of the heavily-indebted US...
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How To Play The "Common Knowledge Game" Effectively
Submitted by Ben Hunt via Salient Partners' Epsilon Theory blog, The more I practice, the luckier I get.– Gary Player (b. 1935) Luck is the residue of design. – Branch Rickey (1881 - 1965)I've found...
View ArticleIf Gold Is Not Money… Why Do Clearinghouses and Former Fed Chairs Say It Is?
Everything that has happened since 2007, every Central Bank move, ever major political decision regarding the big banks, every trend, have all been focused solely on one issue. That issue is...
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Futures Flat On FOMC, GDP Day; Bunds Battered After Euro Loans Post First...
Today we get a two-for-one algo kneejerk special, first with the Q1 GDP release due out at 8:30 am which will confirm that for the second year in a row the US economy barely grew (or maybe contracted...
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Greek Deposits Now Lowest Since 2005; One Third Of Bank Assets Now ECB-Funded
As a refresher, here’s the latest on Greece. Greek PM Alexis Tsipras is scrambling to “reshuffle” his negotiating team after embattled FinMin Yanis Varoufakis’ “lecturing” finally pushed EU officials...
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CFTC Helps Deutsche Bank Avoid "Bad Actor" Tag
Last week, Deutsche Bank agreed to pay $2.5 billion (or around $25,000 per employee) in connection with its role in manipulating LIBOR, EURIBOR, and a few other -BORs. Incidentally, the settlement also...
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Futures Levitate Following Worst Chinese Mfg PMI In One Year, Brent At 2015...
The good news for stocks started overnight when the final Chinese HSBC Manufacturing PMI printed well below the 49.4 expected, or at 48.9, the biggest contraction in one year, which meant calls for...
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US Shale Sector Crashes After David Einhorn Repeats What Everyone Knows Already
Greenlight's David Einhorn has come out swinging at the Fed-fueled fracking frenzy and, after pointing out facts that are extremely widely known, and have been explained innumerable times here, sent...
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No Really, Who Is Buying?
One week ago, when showing a BofA chart demonstrating the record divergence between the S&P500 and US equity flows... ... and which BofA itself prefaced by saying "big decoupling in recent weeks...
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