GOLD:SILVER RATIO – July MATA
GOLD:SILVER RATIO – July MATA Silver Has Been the Better Alternative During the Recent Gold & Silver Breakouts Since we identified this expectation in March 2016
MACRO ANALYTICS
TRADING THE SHANGHAI ACCORD
TRADING THE SHANGHAI ACCORD A Potential Game Changer I had the pleasure of talking to James Rickards, the author of books such as “Currency Wars” and “The Death of Money”. As a recognized global currency expert when he feels strongly about something, it is worth listening to. He felt very strongly that we have a […]
The Chart of Doom: When Private Credit Stops Expanding…
The Chart of Doom: When Private Credit Stops Expanding… February 5, 2016 Once private credit rolls over in China and the U.S., the global recession will start its rapid slide down the Seneca Cliff. Few question the importance of private credit in the global economy. When households and businesses are borrowing to expand production and […]
OIL WEAKNESS
OIL WEAKNESS CAUSE – Protracted Period of Cheap Money EFFECT – Over Supply and Mal-Investment Why oil under $30 per barrel is a major problem Posted on January 19, 2016 by Gail Tverberg A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What […]
SOMETHING IS BURNING IN HIGH YIELD CORPORATES?
SOMETHING IS BURNING IN HIGH YIELD CORPORATES? Junk Bond Crisis Starts to Metastasize A HUGE POTENTIAL PROBLEM Since the Financial Crisis the US Federal Reserve has increased its balance sheet by approximately $3.5 Trillion. In this same period the Junk Bond (HY) issuers have issued $2.2T of debt which the markets have ‘gobbled’ up to […]
DRIVERS: Shifting Confidence & Sentiment
We have a global shift in confidence. The shift shows itself in the willingness to accept risk. The bond and credit markets are the ones first impacted. SOMETHING HAS SUDDENLY CHANGED We have previously talked about Confidence and Sentiment changing and what Alan Greenspan warned congress about a number of times during his […]
It Begins – Managed High Yield Bond Fund Liquidates After 17 Years
ZeroHedge Since inception in June 1998, UBS’ Managed High Yield Plus Fund survived through the dot-com (and Telco) collapse and the post-Lehman credit carnage but, based on the press release today, has been felled by the current credit cycle’s crash. After 3 years of trading at an increasingly large discount to NAV, and plunging to […]
$9 TRILLION IN VAPORIZING CREDIT
THIS IS CREDIT VAPORIZING The chart below is what credit looks like as it is being vaporized! The August $9 trillion drop in combined market cap between the MSCI All World index and Chinese stocks, is the second highest ever, surpassed only by the $13 plunge in global market capitalization in late 2008. Though the […]