By Tyler Durden, Virtu Financial has become the latest in a long line of companies leaving New York for Florida. It’s a trend that started early this year when we first reported that Citadel had set up a makeshift trading floor at the Four Seasons in Palm Beach. Back then, the thought process was to get out […]

By Tyler Durden, The rigging of interest rates by hapless central banks continues to do its job in distorting the market. In addition to boosting both bonds and stocks, it also has homeowners drawing on cash out refinancings at the quickest clip since the global financial crisis. $152.7 billion was cashed out in home equity […]

By Tyler Durden, The wave of financial distress flooding China’s corporate sector, which has seen a furious selloff in bonds following the unexpected default of several state-owned enterprises, is spilling over into a key financing conduit used by China’s giant shadow banking sector — the trust industry. As Caixin reports, Huaxin Trust Co. one of 68 […]

By Tyler Durden, Brent oil will hit $120 per barrel by the end of June 2022, Bank of America’s commodity analyst Francisco Blanch said in a research note from Oct 29. The catalyst for BofA’s increased price forecast is the same one that has prompted every other bank to turn bullish on commodities  – the […]

By Tyler Durden, As LongTail Alpha’s founder, Vineer Bhansali, notes, pension fund managers have started asking him for guidance on how to best protect their portfolios against interest-rate volatility. “That tells you they are getting worried,” he says. At some point, he adds, “markets are just going to break in some parts. It will be a […]

By Tyler Durden, Authored by Michael Lebowitz via RealInvestmentAdvice.com, “Currently, the December 2019 Fed Funds futures contract implies that the Fed will reduce the Fed Funds rate by nearly 75 basis points (0.75%) by the end of the year. While 75 basis points may seem aggressive, if the Fed does embark on a rate-cutting policy […]

By Tyler Durden, Authored by Charles Hugh Smith via OfTwoMinds blog, Not only have the billionaire class made money, they have tightened their monopolistic grip on the levers of money supply and distribution, turning a global rigged casino into a global company town. Editor’s note: This is a guest post by my friend and colleague Zeus […]

By Tyler Durden, With bitcoin trading at fresh all time highs, if just shy of $20,000 for the time being, it was only a matter of time before the establishment renewed its calls for regulation of cryptos, especially now that official central bank digital currencies are in the process of being rolled out to enable […]

By Tyler Durden, Authored by Bill Blain via MorningPorridge.com, “He’s so fluffy I’m going to die…” A BBC producer once told me about the risk assessment she was required to complete before filming at a market in Wales. She quietly added “superglue to repair broken unicorn horns” to the first aid content list. She was never caught. […]

By Tyler Durden, Earlier this year, as Wall Street first became obsessed with distinguishing transitory vs non-transitory (i.e., permanent) inflation, Bank of America launched two trackers – a transitory and a non-transitory inflation meter. Initially, it was mostly good news: while the bank’s transitory inflation meter was at 100, or the highest reading possible, non-transitory […]