admin

While MatlinPatterson’s Portfolio Manager Michael Lipsky can’t wait to enter the distressed junk bond space, thanks to “$74 billion in debt trading at under 25 cents on the dollar, and $205 billion trading at under 70 cents on the dollar”, he agrees with BofA’s Michael Contopoulos that it is still far too soon to buy. […]Read More

1.These Are The Nigerians Benefiting From The Fall Of The Naira:The Naira has plunged more than 70% in the black market when compared to the parallel market since the Central Bank adopted its “managed float” exchange rate system that saw it introduce quasi capital controls as well as restricting the purchase and sale of forex […]

A see-saw trading week on the Nigerian bourse, the market traded higher on Monday, then lower through to midweek before inking some gains through to the end of the week. The losses in midweek however outweighed the gains at the start and back-end of the week, hence a lower close for the week. The market […]

As the naira continues to plummet against foreign currencies, some Bureau de Change (BDC) operators have placed some of the blame on the new forex policy of the Central Bank of Nigeria (CBN), claiming the decision to ban them from the official forex window is responsible for the deteriorating situation. Making this assertion on Channels […]

The Egyptian Government has agreed a $500 million loan deal with the African Export-Import Bank (Afreximbank). The loan is expected to help the country reduce its forex scarcity and provide a forex lifeline for importers of goods and services. Egypt like Nigeria has introduced foreign currency capital control that have limited outflow and inflow of […]

Submitted by David Stockman via Contra Corner blog, For several years now the small coterie of Keynesian academics and apparatchiks who have seized nearly absolute financial power through the Fed’s printing presses have justified the lunacy of unending ZIRP and massive QE on the grounds that there is too little inflation. The bureaucrats at the IMF even invented a […]Read More

Two years after the US State Department, and specifically Victoria Nuland, hand-picked Ukraine’s next government in the aftermath of the Euromaidan riots which led to a coup and the ouster of then president Yanukovich and the appointment of a US puppet government led by the increasingly unpopular Arseniy Yatseniuk, tens of thousands of people in […]

For those who still believe that only the GOP establishment has lost its nerve with its fringe frontrunner of a candidate, here is proof that when it comes to Bernie Sanders’ surprisingly strong performance to date, the Democrat party is just as unhinged that Hillary Clinton’s primary campaign, which was supposed to be smooth sailing, […]

Submitted by Bill Bonner of Bonner & Partners (annotated by Acting-Man.com’s Pater Tenebrarum), A Different World BALTIMORE – We left the fantasy island of modern finance today. We had to take our pick-up truck in for repairs. The dealers all seem to be in East Baltimore… or east of Baltimore… so we drove out of […]Read More

Submitted by Jeffrey Snider via Alhambra Investment Partners, When Janet Yellen testified to Congress last week, she was as usual careful with her words. Alan Greenspan once called it “mumbling with incoherence” but there is very little left to rambling in Yellen’s predicament. Where Greenspan was once the “maestro” and Bernanke the “hero” Yellen is […]Read More

Russia and Iran are on a roll in Syria. Just two months ago, it appeared as though Moscow was indeed set to get bogged down in the conflict as the Russian Defense Ministry’s daily airstrike video dump seemed to be at odds with a lack of concrete results on the ground. Then, suddenly, Hezbollah had […]

With yet another resounding defat under his belt, Jeb Bush has announced his decision to “suspend” his campaign for the Republican Presidentoal nomination. *JEB BUSH DROPS OUT OF U.S. PRESIDENTIAL RACE As The New York Times reports, Jeb Bush suspended his presidential campaign on Saturday, ending a quest for the White House that started with […]