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Plenty of attorneys will slump in to work today, bleary-eyed, bloodshot, and with a slight ringing in their head. Sure, it’s the day after the Super Bowl, so that explains a bit of it. But for many lawyers, that’s just the regular start to their day. Lawyers are drunks. And there’s empirical proof of it, […]Read More

While the ongoing slaughter in European bank credit, and mostly counterparty risk, is troubling, it is nothing new: we have been showing it for over a month, most recently on Friday in “European Bank Risk Soars To 3 Year Highs, US Risk Rising.” And yet there is a new element to the latest European selloff, […]

Gold is now up over 13% from its pre-Fed rate-hike lows, having surged through its 200-day moving average by the most in 2 years. As bank risk spikes globally, it appears bonds & bullion are the investment of choice once again in the face of systemic fragility concerns. At 4-month highs, gold is nearing a […]

Just as we warned, not only is it time to panic but the panic is ‘contagion’-ing over into the sovereign risk market. European banks are in freefall, down over 4.3% broadly, crashing to 2012’s “whatever it takes” lows. European bank risk has gone vertical… Today’s spike is the largest since April 2010 TBTF banks are […]Read More

Just over two weeks ago, JPM’s Marko Kolanovic, whose unprecedented ability to predict short-term market moves is starting to seem a little bizarre, warned that the next “significant risk for the S&P500” was the bursting of the “macro momentum bubble.” Specifically, he said that there is an emerging negative feedback loop that is “becoming a […]Read More

FANG stocks are collapsing in the pre-market as faith in the “growth at any cost” meme crashing on the shores of reality once again. Now down over 16% from their post-Fed-rate-hike highs, the stocks you should never sell are being sold in size as large crowds and small doors press NFLX and AMZN (and TSLA […]

The saga of the gas giant Aubrey McClendon’s built, Chesapeake Energy, enters its endgame, when moments ago following a Debtwire report that the company has hired Kirkland and Ellis as its restructuring/bankruptcy attorney – typically a step taken just weeks ahead of a formal Chapter 11 filing – the stock has plunged 22% to $2.40, […]

With China celebrating the Lunar New Year and offline until next weekend, and with the US in the usual post-payrolls macro newsflow lull, the markets will have more than enough time to stew in the latest source of contagion fears, namely Europe, the same Europe which until recently was fixed but is broken all over […]

Submitted by Yonathan Amselem via The Mises Institute, On January 12, America’s central planner-in-chief gave his State of the Union address. The president promised nothing less than to feed the hungry, create jobs, shape the earth’s climate, and make everyone a college graduate. There’s nothing new here, though. We’ve heard variations of this silly song […]Read More

The bid for precious metals is accelerating. Gold just broke above its October 2015 highs to 8-month highs. Silver is also bursting higher, soaring above its 200-day moving-average. Gold at 8-month lows… Silver breaks 200DMA… As Gold continues to suggest The Fed screwed up… Average: Your rating: None Average: 4.3 (6 votes)

US Treasury yields are collapsing across the entire curve, down  9-10bps from their pre-opening highs this morning. While 10Y pushed belwo 1.80% (to one-year lows), it is 5Y yields that have traders the most anxious as they look to break out below three-year channel lows… What happens next? Average: Your rating: None Average: 5 (3 […]

It is a heartbreaking letter he will never read. 38-year old Oyelowo Oyediran is dead, stabbed to death by the woman who loved him but ended up killing him on February 2. If the dead could read, he would be glad he impacted lives in just 38 years on earth. From Osun State, the Nigerian businessman […]