I am the one who knocks

warren
Uncategorized

Warren On The Warpath: Calls For SEC Chair’s Head

Sen. Elizabeth Warren is on the warpath and she ain’t taking no prisoners. Just days after essentially running (now former) Wells Fargo CEO John Stumpf into retirement (albeit with a $135.4 million golden parachute), she’s at it again, and this time the target is SEC Chair Mary Jo White. In a series of Tweets, Warren… Keep Reading

tgi_fridays
Economy/Equities

Everything You Need To Know About Friday

Friday summary: Banks (JPM, WFC, C) all beat thanks in no small part to strong fixed income trading results. Yay. Deutsche Bank won’t be getting a government bailout (or at least that’s what Berlin is saying on Friday). Oh, no. Money market reform went into effect presumably making the system safer (yay) but removing nearly $1… Keep Reading

boom
Volatility

It’s Not A “Case Of The Hiccups,” It’s Volatility!

Want to see what a world gone crazy looks like? Well, then look no further than the following (updated) set of volatility charts from Citi’s credit strategist extraordinaire Matt King, who shows us just how far off the proverbial rails our “markets” have gone: (Chart: Citi) As you can see, anomalies are no longer anomalies. They… Keep Reading

tradeweighted
FX

Watch Out, This Key Dynamic Is In Jeopardy…

See that? That’s the trade-weighted RMB index. And it’s key to FX markets in 2016 and beyond (read up). That decline is absolutely critical to the post Shanghai Accord stability. A Fed hike will turn it on its head (why do you think – besides oil prices – the Fed didn’t hike in March?) –… Keep Reading

warren
Humor

Elizabeth Warren Trolls Wells Fargo CEO Right Into Retirement

Let’s just be clear, Sen. Elizabeth Warren fears no man. No banker. And especially no John Stumpf. Late last month we highlighted her skewering (or perhaps “epic takedown” or “Eminem-ing” would be better terms) of then-Wells Fargo CEO John Stumpf over a scandal involving the creation of so-called “phantom accounts.” We also brought you the video… Keep Reading

kuroda
FX

Japan To Concede Defeat On Inflation Target: Report

Well, we suppose you can’t really blame them. After all, every attempt to achieve Kuroda’s elusive 2% inflation target and thus drag Japan out of the deflationary doldrums has thus far failed miserably… …so it’s only a matter of time before you have to throw in the towel or at least kick the proverbial can.… Keep Reading

yellen
central banks

Fed Minutes Summary

Via Bloomberg: Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded about as the Committee expected; they saw the new sentence in the third paragraph of the Committee’s statement–a sentence indicating that the case for an increase in the federal… Keep Reading

cb
central banks/Economy

Why Is QE Failing?

You might have noticed something rather disturbing unfolding over the past half decade or so when it comes to QE. Have a look at global central bank liquidity: (Chart: Citi) So here we are, right back to the peak in terms of flow and yet what do we get for it? Still sluggish growth, still… Keep Reading

businessinvestment
Equities

A Mystery For You To Solve: Where’s The Capex?

Deutsche Bank’s Joseph LaVorgna has a mystery for you to solve. I’ve highlighted it in the chart below: (Chart: Deutsche Bank) Here’s what he has to say: “The most recent data on capital expenditures have been largely disappointing. Real nonresidential fixed investment spending (capex) has declined in two of the last three quarters and is… Keep Reading

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