Citi "Skeptical Of The Sustainability Of This Uptrend"

As the S&P 500 continues to make higher highs, Citi's FX Technicals group attempts to identify important levels to watch. As they have highlighted before, while they respect the price action and the fact that the markets are making higher highs… [...]

Margin Debt Soars To New Record; Investor Net Worth Hits Record Low

The correlation between stock prices and margin debt continues to rise (to new records of exuberant "Fed's got our backs" hope) as NYSE member margin balances surge to new record highs. Relative to the NYSE Composite, this is the most &qu… [...]

Frontrunning: November 13

Headline du jour: Granted ‘decisive’ role, Chinese markets decide to slide (Reuters) Desperate Philippine typhoon survivors loot, dig up water pipes (Reuters) Fading Japanese market momentum frustrates investors (FT) China’s meager aid to the Philippi… [...]

Meet The Man Responsible For Regulating $234 Trillion In Derivatives: The CFTC’s New Head Timothy Massad

It’s official – goodbye Gary Gensler, we hardly knew you… as a commodities regulator that is, although Bart Chilton (who is finally also stepping down due to being too burdened by lack of funding to actually do anything) was kind enough to provide mu… [...]

Marc Faber Is Back: "It Will End Badly… We’re In A Worse Position Than 2008"

"It will end badly," Marc Faber explains in this brief CNBC clip, "the question is whether we will have a minor economic crisis and then huge money printing or get into an inflationary spiral first." If you thought that "we had… [...]

Frontrunning: November 6

Christie Sets Himself Up for Run in 2016 (WSJ) De Blasio Elected Next New York City Mayor in Landslide (WSJ) Hilsenrath: Fed Study: Rate Peg Off Mark (WSJ) MF Global Customers Will Recover All They Lost (NYT) – amazing what happens when you look under… [...]

Silver Eagle Bullion Coin Sales Head For Annual Record Over 40 Million

Today’s AM fix was USD 1,349.50, EUR 980.81 and GBP 840.23per ounce. Yesterday’s AM fix was USD 1,346.75, EUR 978.81 and GBP 837.06 per ounce. Gold dropped $8.40 or 0.62% yesterday, closing at $1,344.60/oz. Silver rose $0.01 or 0.04% closing at $22… [...]

October FOMC Week Starts With Traditional Overnight Meltup

Just as it is easy being a weatherman in San Diego (“the weather will be… nice. Back to you”), so the same inductive analysis can be applied to another week of stocks in Bernanke’s centrally planned market: “stocks will be… up.” Sure enough, as we … [...]

Busy, Lackluster Overnight Session Means More Delayed Taper Talk, More "Getting To Work" For Mr Yellen

It has been a busy overnight session starting off with stronger than expected food and energy inflation in Japan even though the trend is now one of decline while non-food, non-energy and certainly wage inflation is nowhere to be found (leading to a ne… [...]

It’s A PIK Toggle Credit Bubble, But "This Time It’s Different" Says Moody’s

Two weeks ago we first pointed out that as a result of the quiet creep in high grade leverage to fresh record high levels, the resurgence in PIK Toggle debt for LBOs and otherwise, means that the credit bubble is now worse than ever and that the next c… [...]