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SEC Commissioner Furious At Deutsche Bank's "Decade Of Lying, Cheating, And...
Last week we commented on the latest travesty in the legal system when Deutsche Bank paid $2.5 billion to settle charges that it had manipulated LIBOR, EURIBOR and various other -BORs. As usual in...
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Wynn Calls "Big" Recovery "Complete Dream" As Gaming Revenues Collapse
Last month, courtesy of Andrew Zatlin’s Vice Index, we flagged the disturbing Q1 rise in traveling hookers. We call the trend disturbing not because we have a prima facie inclination to look with...
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The Complete UK Election Preview
The UK General Election will be held tomorrow. The polls close at 10 pm. We should have a pretty clear picture of the overall seat count by 5 to 6 am on Friday morning. The result, as SocGen notes, is...
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Deutsche Bank's Head Of Global Credit Strategy Explains Why "This Is Not...
When Deutsche Bank's head of global fundamental credit strategy, Jim Reid, writes a blurb that could have come from any single Zero Hedge article posted here over the past 6 years, it makes us wonder...
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Futures Rise Following "Dramatic" UK Election Result, All Eyes On Payrolls
While the US is waking up in anticipation of what is once again said to be the "most important nonfarm payrolls number" at least since the last most important such number, because anything 250,000 and...
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EPS 'Beats' Lose All Meaning As Downward Revisions, Buybacks Mask Weakness
Good news: companies are beating earnings estimates by the widest margin in four years. For Q1, S&P 500 companies have on average posted bottom line results that have topped estimates by an average...
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Chart Of The Day: Record Stock Buybacks Hit Escape Velocity
As regular readers are no doubt aware, the persistent bid under the US equity market during Q1 came courtesy of price insensitive corporate managment teams who, in a rush to take advantage of...
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What The Sellside Thought Of China's Leaked Rate Cut
Over the weekend we observed that the timing of the latest round of easing by the PBoC (the third rate cut in six months and the fourth time this year Beijing has loosened monetary policy) felt rather...
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Uber Is Now Valued Higher Than 80% Of The S&P: Closing In On General Motors...
Over the weekend, Bloomberg reported that just three months after it stunned observers with a $2.8 billion Series E capital raise at a $40 billion valuation, surpassing the market cap of such "blue...
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Wall Street To Enter Hollow Guilty Plea On FX Rigging, Return To Business As...
On Monday we pointed to the latest example of the Justice Department’s unwillingness to prosecute Wall Street criminals when we remarked that the decision not to prosecute Citi for gaming LIBOR proves...
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Consequences? Barclays Exec Involved In LIBOR Fixing Becomes Bank's Head Of...
Although it now appears that the logos of several large US banks are set to plead guilty to rigging FX markets, we’re still fairly certain that the post-crisis policy of never sending any actual people...
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Deutsche Bank: "No One Knows How To Hedge Or Price Liquidity In This World"
Deutsche Bank's Jim Reid was recently visiting clients in the US, where he listened to their gripes, concerns and market fears. At the very top: buying is easy, but when the selling starts it's all...
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Wall Street Demands Exemption From Punishment In Exchange For Guilty Pleas In...
Just three days ago in “Wall Street To Enter Hollow Guilty Plea On FX Rigging, Return To Business As Usual,” we lamented the fact that the Justice Department’s latest attempt to convince an incredulous...
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5 Things To Ponder: Reading While Waiting List
Submitted by Lance Roberts via STA Wealth Management,This past week has been much the same as the last couple of months - boring. It has been more interesting trying to count carpet fibers in my office...
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China Creates Perpetual Leverage Machine After Dropping Debt Directive
China is in a tough spot and it’s starting to show up in what look like contradictory policy decisions. The problem — as discussed at length in “How China’s Banks Hide Trillions In Credit Risk” and in...
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Apathy is the new black.......or not....
The disconnect between what most of us should care about and what the majority of us actually do care about is really quite frightening. You see, the truth is that far more Americans are drawn to...
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Gold Hits 3-Month Highs Amid "Frenetic Liquidity"
Gold topped $1230 this morning - breaking to 3-month highs and up over 4% year-to-date - up 5 days in a row for the best run in 4 months. The surge comes causally or correlatedly coincidental with...
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Shape Of Greek Endgame Emerges: IMF Discussed "Cyprus-Like" Plan After...
As we said over the weekend, it’s all about Riga again for Greece. EU leaders will meet on Thursday and Friday in Latvia where PM Alexis Tsipras will try to secure a more favorable outcome than did...
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Financial Execs Urge Fed To Rein In "Over-Exuberance... Hangover Will Be...
In a stunningly honest turn of events - though likely self-preserving - a number of senior financial services executives are reportedly urged authorities around the world to bolster their...
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China’s Record Capital Outflows Spark Financial Stability Fears (FT)U.K. Inflation Falls Below Zero for First Time Since 1960 (BBG)Islamic State Solidifies Foothold in Libya to Expand Reach (WSJ)Judge...
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