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Let’s recap: *Federal Reserve says they want to quit printing money (yeah right lol) *Goldman Sacks cuts expectations on gold (forcing a sell off) *500 tons of paper gold dumped on Friday (more pressure for sell off) *DHS insider says collapse will happen in spring after metals get slammed (he’s right so far) *Another insider says planned collapse to happen on April 25 *Those mysterious 100,000 put options expire on April 20 & April 25
Today’s Homebuilder Confidence [...] Just over 4 hours ago we discussed the stunning collapse in 10Y Japanese bond yields. Since then – things have taken a very dramatic turn for the worse for bonds. 10Y JGB yields have exploded higher. The move from 32bps to 65bps triggered circuit breakers on the Tokyo Stock Exchange in JGB Futures trading as JGB prices plunged by their largest amount since September 2002. We can only imagine there is liquidations galore [...] Brace Yourself: Earnings Disappointments Ahead The buzz is modest at best for the fourth-quarter earnings season. Don’t be surprised to see your fair share of disappointments. It’s being called the new normal. And at this point we are all used to it — an anemic growth story for the U.S. and global economy. And while the fourth quarter is typically an earnings grower due to holiday spending spurring money movement, the buzz [...] by Phoenix Capital Research The following is an excerpt from the most recent issue of Private Wealth Advisory. In it I outline a key turning point that is developing in the financial system. Forget Black Friday and the Santa Rally. This is bigger than all of that. To find out more about Private Wealth Advisory and how it can help you navigate the coming crisis… Click Here Now!!! I believe we are at [...] by Phoenix Capital Research
Looking around the economic and financial world today, I see countless negative developments and virtually no positive developments to speak of. Just off the cuff, I note that: China is entering a hard landing if not an outright economic collapse. by Phoenix Capital Research
Regarding the recent coordinated central bank moves, the key take-away point is that the ECB and US Federal Reserve attempted “shock and awe” tactics with their latest announcements by throwing out words such as “unlimited” and “open-ended.”
The implication here was that the Central Banks would do everything they could to prop up the financial markets. However, as has been the case with every Central Bank intervention, there are unintended consequences.
The [...] by Phoenix Capital Research
Regarding the recent Central Bank coordinated intervention, the key take-away point is that the ECB and US Federal Reserve attempted “shock and awe” tactics with their latest announcements by throwing out words such as “unlimited” and “open-ended.”
The implication here was that the Central Banks would do everything they could to prop up the financial markets. However, as has been the case with every Central Bank intervention, there are unintended consequences.
The [...] The Baltic Dry Index, a favorite measure of traders looking to gauge shipping activity, has rebounded this week on hopes that central bank intervention in China and elsewhere will spur economic growth. Whether that optimism is realistic is another matter, as the index could be flashing little more than a false positive that money printing can lead to a genuine economic recovery. The BDI measures the costs of shipping iron ore, coal, [...] by Phoenix Capital Research On Thursday last week, the US Federal Reserve announced QE 3: a program through which it will purchase $40 billion in Mortgage Backed Securities (MBS) every month going forward. Given the close proximity of this move to the European Central Bank’s (ECB) “unlimited” bond purchasing program announced the week before, the Fed’s move should be taken as a coordinated Central Bank intervention. Thus, we have both the ECB [...] From Gold Core Market Optimistic On Central Bank Intervention Today’s AM fix was USD 1,613.00, EUR 1,300.39, and GBP 1,032.39 per ounce. Silver is trading at $28.08/oz, €22.71/oz and £18.01/oz. Platinum is trading at $1,415.70/oz, palladium at $582.50/oz and rhodium at $1,100/oz. Ireland observed a national holiday on Monday. Gold climbed $8.40 or 0.52% in New York yesterday and closed at $1,611.20/oz. Silver hit [...]
ECB cuts rates; BOE boosts quantitative easing The PBOC, the BOE and now the ECB all cut, and still futures are tumbling. This latest news however will certainly send futures soaring: KENYA CENTRAL BANK CUTS BENCHMARK RATE TO 16.5% FROM 18% However, the market response so far is remarkably tepid. Hopefully the one bank we are all waiting for: the Bank of Uganda, will follow suit and show everyone who’s boss.
Source: Zerohedge by thetechnicaltake
Last week’s bullish signal in the “dumb money” indicator has come and gone just like that – poof! I guess sentiment isn’t really too bearish. Yet, can you blame investors for being less bearish since it is all but certain that some central bank will be intervening on the slightest drop in the equity markets. As least that is what investors seem to believe. Despite investors’ certainty in a certain outcome, [...] The foreign exchange markets are brace for impact after OandA announced they will shut-down currency trading on Sunday ahead of the market-moving events Last night we noted that OandA will shut-down trading on Sunday ahead of the market-moving events surrounding the Greek election (as it seems they are unwilling to take the agency risk and potentially counterparty risk on a large gap). Nowhere is this more clearly priced into the market than [...] Federal Reserve Chairman Ben Bernanke offered little hope Thursday for anyone looking for more central bank intervention, instead relying on an oft-repeated pledge to step in if necessary. As a result, the stock market, which had been well into its third consecutive strong rally, pared gains as traders weighed where the Fed stands on the economy’s late-spring slowdown. “Boy, that was anti-climactic,” Pierpoint economist Stephan Stanley said. “There was absolutely nothing in terms [...] We’ll get the latest monetary policy decision from the European Central Bank at 7:45 AM ET, perhaps the biggest decision for the bank since it announced a rate cut and two three-year LTROs in December.
While most analysts polled by Bloomberg believe the bank will hold rates steady at 1.00 percent, numerous economic indicators (euro area inflation, M3, and PMIs, to name a few) that could induce the Bank to loosen monetary policy. Further, chatter and [...] by Phoenix Capital Research
Talk of QE and rumors of coming Central Bank Intervention pushed stocks and Gold higher on Monday. It’s odd to hear these rumors when every major Central Bank has in fact been clearly stating NO new stimulus is coming any time soon.
Indeed, as the Fed has proved now for eight consecutive FOMC meetings, it is not going to announce more QE unless another systemic Crisis erupts. Instead [...] by Tyler Durden, ZH It seems the clarion call for central bank intervention to save us all is growing louder as followingCitigroup’s imploring letter earlier in the week, SocGen has done its homework on the impact of a Greek exit from the Euro and finds Euro Stoxx could drop by 50% under a contagion scenario. They believe the reason why the eurozone market is holding up relatively well – despite the rising risk [...] 388,000 people lost their jobs last week. 386,000 lost them the week before. Home values fell by 4.8%, American Airlines, Borders, and many other major companies went bankrupt. Home ownership is now at the lowest rate on record, as reported by drudge this morning. Spanish unemployment hit 25% today, and Spanish debt has been downgraded 2 notches by S&P. The American Association of Realtors publicly admitted to lying about sales [...] But Spain’s €1.1TRILLION economy is seen as being too big to bail out Fears are rising that Spain will be the next member of the eurozone to beg for a financial bailout – after the interest it pays on its 10-year government bonds rose to [...] From Gluskin Sheff DEJA VU It is incredible how things are playing out so similarly to this time last year. We closed the books on 2010 at 1,257 on the S&P 500, then hit an interim high of 1,343 on February 18th of 2011 and then corrected to 1,256 on March 16th. We later had a nice bounce off that low to 1,363 on April 29th (a higher high). Who knew then that [...] From the first day of 2012 we predicted, and have done so until we were blue in the face, that 2012 would be a carbon copy of 2011… and thus 2010. Unfortunately when setting the screenplay, the central planners of the world really don’t have that much imagination and recycling scripts is the best they can do. And while this forecast will not be glaringly obvious until the debt ceiling [...] The media and 99% of analysts believe the Fed is and can continue to act aggressively to prop up the markets, the fact is that the Fed has been reining in its monetary stimulus over the last nine months, largely relying on verbal intervention from Fed Presidents to push stocks higher.
We at Phoenix Capital Research have known this for some time. But the general public and financial media are only [...] kingworldnews.com With gold and silver plunging, along with stock markets and crude oil, today King World News interviewed legendary Jim Sinclair’s chartist Dan Norcini. Norcini told KWN what we are seeing today in the gold and silver markets is not what most people think: “People will tend to blame this takedown in gold and silver on the bullion banks. Interestingly, I don’t think that’s the case this time, Eric. I think what happened [...] Yesterday when We Discussed the surprising non-cut in the Australia cash rate, we asked “is China re-exporting the lagging US inflation it imported over 2011? ” and said that “It means that Chinese inflation continues to be far higher than what is represented… and wonder: did the RBA just catch the PBOC lying about its subdued inflation?” Lastly, we concluded: “Furthermore, the PBOC did 26 billion yuan in repos, meaning it is set to [...] Back in January 2010, when in complete disgust of the farce that the market has become, and where fundamentals were completely trumped by central bank intervention, we said, that “Zero Hedge long ago gave up discussing corporate fundamentals due to our long-held tenet that currently the only relevant pieces of financial information are contained in the Fed’s H.4.1, H.3 statements.” This capitulation in light of the advent of the Central Planner of [...] by Phoenix Capital Research Investors are getting strangely bullish.
If you’ll recall, the entire European banking system nearly imploded just 8 weeks ago. Things were so dire that we even had a coordinated Central Bank intervention among other measures to try and prop things up over there.
The Powers That Be have since launched the Long-Term Refinancing Operation or LTRO: essentially a program through which European banks can borrow from the ECB at just 1% for [...] There were two reasons for today’s big initial market move: one was the realization that the next LTRO could be massive to quite massive (further confirmed by a report that the ECB is now seeking a “Plan B“), the second one was that, somehow, even though China’s economy came in quite better than expected, and much better than whispered, the market made up its mind that the PBoC is now [...] by Charles Hugh Smith from Of Two Minds You Can’t Fool Mother Nature For Long: Financial Markets Constant State and Central Bank intervention and manipulation is not the foundation of a free, transparent market–it is perception management in service of Elite control and looting. You can fool Mother Nature for awhile, but not over the long-term. That’s the theme of the week. Every day I will take a look at a segment of American life [...] |
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