Macro Considerations

The macro picture remains largely unchanged. Janet Yellen is expected to lead the Federal Reserve into a new phase by beginning to taper its long-term asset purchases early next year. The ECB is expect to move in the other direction, leaning against th… [...]

Russell Napier: "We Are On The Eve Of A Deflationary Shock "

In the aftermath of Ray Dalio’s conversion to an inflationista earlier this year (even if he has since once again been pushing a deflationary agenda when he once again went long Treasurys in late September as Zero Hedge reported previously), which prom… [...]

No Red Futures On Black Friday

A hungover America slowly wakes up from a day of society-mandated consumption and purchasing excess to engage in even more Fed-mandated excess in the equity markets. The only difference is that while the “90%” was engaged in the former and depleting th… [...]

Thanksgiving Frontrunning And Market Summary

European shares remain higher though are off intraday highs. Italian, Spanish markets are the biggest gainers among larger bourses, Swiss the worst. Euro is stronger against the dollar. Commodities decline, with soybeans, zinc underperforming and wheat… [...]

Frontrunning: November 27

Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters) Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG) Private equity keeps $789bn of powder dry (FT) – because they are “selling everything that is not nailed down” Merke… [...]

Yen Carry Lifts Risk Around The Globe In Quiet Overnight Trade

In a carry-trade driven world in which news and fundamentals no longer matter, the only relevant “variable” is whether the JPY is down (check) and the EUR is up (check) which always results in green equities around the globe and green futures in the US… [...]

Frontrunning: November 26

M&A Mystery: Why Are Takeover Prices Plummeting? (WSJ) Hedge-Fund Fight Club Traded Illegal Tips Not Punches (BBG) Speed Traders Meet Nightmare on Elm Street With Nanex (BBG) A new wave of U.S. mortgage trouble threatens (Reuters) Penny Lane: Gitm… [...]

Stock Futures Rise To New Record Highs On Carry-Currency Driven Ramp

Another day, another carry currency-driven futures melt-up to daily record highs (the all important EURJPY soared overnight on the return of the now standard overnight Japanese jawboning of the JPY which sent the EURJPY just shy of a new 4 year high of… [...]

S&P Closes Above 1800, Posts 7th Consecutive Weekly Increase: Longest Streak Since 2007

The S&P 500 has now managed the longest weekly winning streak (7 weeks) since May 2007 (when it managed a 9% gain). Off the recent lows, the current run is an impressive 9.6% (for the S&P) with Trannies up 12.5% in the same period. (we hesitate… [...]

Dollar’s 30 Year Slide May Be Gold’s New Life: 2014 Outlook

Today’s AM fix was USD 1,241.75, EUR 918.59 and GBP 766.75 per ounce.Yesterday’s AM fix was USD 1,248.50, EUR 929.64 and GBP 775.76 per ounce. Gold fell $1.50 or 0.12% yesterday, closing at $1,243.20/oz. Silver climbed $0.14 or 0.71% closing at $19… [...]