"We Are Playing Economic Russian Roulette"

Submitted by Brandon Smith of Alt-Market blog, By any reasonable measure, I think it is safe to say that the last quarter of 2013 has been an insane game of economic Russian Roulette.  Even more unsettling is the fact that most of the American pop… [...]

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… [...]

Goldman Reveals "Top Trade" Recommendation #2 For 2014: Go Long Of 5 Year EONIA In 5 Year Treasury Terms

If yesterday Goldman was pitching going long of the S&P in AUD terms (the world renowned Goldman newsletter may cost $29.95 but is only paid in soft dollars) as its first revealed Top Trade of 2014, today’s follow up exposes Top Trade #2: which is … [...]

Futures Go Nowhere In Quiet Overnight Session

In fitting with the pre-holiday theme, and the moribund liquidity theme of the past few months and years, there was little of note in the overnight session with few event catalysts to guide futures beside the topping out EURJPY. Chinese stocks closed a… [...]

Late-Day Let-Down Spoils NASDAQ Party As Bonds & Bullion Bid

Energized by a lower crude oil price – and collapsing JPY – equity markets hit their highs shortly after 8pmET on Sunday night, trod water thorugh the Asian and European markets and started more aggressive selling once US cash markets opened. Coinciden… [...]

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… [...]

White House Releases Iran Deal Fact Sheet – President Obama To Speak

The White House has released their (lengthy) fact sheet… "During the six-month initial phase, the P5+1 will negotiate the contours of a comprehensive solution… Over the next six months, we will determine whether there is a solution that gives … [...]

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… [...]

Overnight Carry Continues To Push Risk To New Highs

There were two events of note in the overnight session: first was the return of the Japanese jawboning, because now that the Nikkei has upward momentum – nearly hitting 15600 in early trading only to close unchanged – and the Yen has downward momentum,… [...]

Crude Oil Spikes Most In 7 Weeks As Iran Nuclear Deal Hopes Fade

With the WTI-Brent spread at 8-month wides, RINs having collapsed, and US investors buoyed by gas prices at the pump near recent lows, the surge in crude oil prices today – by their most since October 2nd – may take some of the ‘tax-cut’ punch from the… [...]