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Are Markets Too Optimistic About Global Growth? (Spoiler Alert, Yes!)

Are Markets Too Optimistic About Global Growth? (Spoiler Alert, Yes!)
Authored by Saxo Bank's Head of Macro Strategy, Dembik Christopher, via TradingFloor.com, We expect softer-than-consensus 2018 growth Lowflation structural, not transitory Housing bubbles remain a concern (Bitcoin not so much) The year 2018 starts with four main questions: Is economic growth on a solid footing? Will inflation ever come back? Should we fear higher bond yields? What could go wrong?... Read More

Deutsche Bank Explains The Five Biggest “Market Conundrums”

Deutsche Bank Explains The Five Biggest “Market Conundrums”
While pundits contemplate whether the bitcoin bubble is bigger, smaller or the same size as the dot com bubble, few are willing to admit that day to day events in the equity market are just as ridiculous, bubbly and bizarre as what takes place in the crypto realm. To address this lack of coverage, yesterday Bloomberg was nice enough to... Read More

Morgan Stanley: “If Central Banks Push Back, Asset Prices Face A Severe Challenge”

Morgan Stanley: “If Central Banks Push Back, Asset Prices Face A Severe Challenge”
As increasingly more analysts and Fed-watchers have suggested in recent months, the one catalyst that could send the market into a tailspin is for the Fed to get what it has so long wanted: a sudden spike in inflation. From Albert Edwards (who looks at record U.S. vacation plans as an ominous sign of rising wages), to Eric Peters (who... Read More

China Issues First Dollar Bond Since 2004, Bails Out Corporate Liquidity

China Issues First Dollar Bond Since 2004, Bails Out Corporate Liquidity
Despite downgrades from the rating agencies, China is issuing its first sovereign dollar bond issues in 13 years on an unrated basis (what do the agencies know anyway) and at tight spreads to US Treasuries. The 5 and 10-year issues come just over a month since S&P cut the nation’s rating one level to A+ on 21 September 2017. Moody’s... Read More

Are Cryptocurrencies Inflationary?

Are Cryptocurrencies Inflationary?
Are Cryptocurrencies Inflationary? Posted with permission and written by John Rubino, Dollar Collapse      There’s a debate raging over what, exactly, bitcoin and the thousand or so other cryptocurrencies actually are. Some heavy-hitters are weighing in with strong, if not always coherent opinions:   Jamie Dimon calls bitcoin a ‘fraud’   JPMorgan Chase CEO Jamie Dimon did not mince... Read More

TEPCO Admits Contaminated Water Leaked Into Fukushima Groundwater “Due To Erroneous Gauges”

TEPCO Admits Contaminated Water Leaked Into Fukushima Groundwater “Due To Erroneous Gauges”
In a revelation that, for some, will dredge up memories of TEPCO’s stunning admission back in 2013 that nearly 300 tonnes of radioactive material had leaked from the ruins of the Fukushima Daiichi nuclear-power plant into the water outside, contaminating virtually the entire Pacific Ocean, officials at the Japanese power company told the Associated Press that contaminated water may have... Read More

Stagnation Is Not Just The New Normal – It’s Official Policy

Stagnation Is Not Just The New Normal – It’s Official Policy
Authored by Charles Hugh Smith via OfTwoMinds blog, Japan is a global leader is how to gracefully manage stagnation. Although our leadership is too polite to say it out loud, they've embraced stagnation as the new quasi-official policy. The reason is tragi-comically obvious: any real reform would threaten the income streams gushing into untouchably powerful self-serving elites and fiefdoms. In... Read More

A Startling Anecdote About Online Ad Fraud From Uber

A Startling Anecdote About Online Ad Fraud From Uber
One week ago we said that Category 1 storm clouds are gathering over what has traditionally been one of the most lucrative, and perhaps only profitable, sectors to come out of Silicon Valley in decades: online advertising. We directed readers' attention to the recent Global Retailing Conference organized by Goldman Sachs, in which Restoration Hardware's delightfully colorful CEO, Gary Friedman,... Read More

Chinese Bitcoin Trading Soars As Local Exchanges Deny Crackdown Reports

Chinese Bitcoin Trading Soars As Local Exchanges Deny Crackdown Reports
As we noted earlier, bitcoin has been unable to meaningfully reverse the drop that followed reports that Chinese authorities were planning to shut down local digital currency exchanges as part of a crackdown on ICOs. The news, which first surfaced in China’s state-owned Caixin media network, which presumably has sources deep within the Chinese government, sending bitcoin spiraling lower as... Read More

What “Coordinated Recovery”? Global Negative Yielding Debt Hits One Year High Of $7.4 Trillion

What “Coordinated Recovery”? Global Negative Yielding Debt Hits One Year High Of $7.4 Trillion
Two weeks ago, we were surprised to find that despite the recent "growth promise" of what has been called a coordinated global recovery, the market value of bonds yielding less than 0% had quietly jumped by a quarter in just one month to the highest since October 2016. Since then, the paradoxical divergence between the reported "strong" state of the... Read More