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The Purge Begins: Deutsche Bank Fires 400 US Bankers

As part of its latest disastrous earnings, which saw trading revenues tumble by 17% as new CEO Christian Sewing took over, we reported that Deutsc ...


Venting about the Helium Market

The US Department of the Interior has identified a list of 35 "critical minerals," which is "a mineral identified to be a non-fuel mineral or mine ...


A New Pareto Liberal Paradox (reposted from 2004)

(Dan here….lifted from Robert’s Stochastic Thoughts) A New Pareto Liberal Paradox (reposted from 2004) One of the core principles of Liberalism is ...


Kansas City Fed: Regional Manufacturing Activity "Expanded More Rapidly" in April

From the Kansas City Fed: Tenth District Manufacturing Activity Expanded More RapidlyThe Federal Reserve Bank of Kansas City released the April Ma ...


Small Bank Annual Report Season

We get a lot of small bank annual reports in the mail at Credit Bubble Stocks. Two came in today so let's just do a kind of deeper read of the ann ...


Deutsche Bank’s Stock Is Trading Below Pre-Crisis Levels; But So Is Citigroup’s

Deutsche Bank’s Stock Is Trading Below Pre-Crisis Levels; But So Is Citigroup’s By Pam Martens and Russ Martens: April 26, 2018 There is a great d ...


US Jobless Claims Fall To 49 Year Low (1969 and Richard Nixon), Continuing Jobless Claims Lowest Since 1973 (Also Nixon)

The jobless claims in the US keep falling as if there was a spell on the US economy.  Jobless claims fell to 209k for April 21st.  IT is the lowes ...


Euro Rebounds, Reclaims 1.22 As Draghi Downplays Soft Econ Data

One look at the recent Citi Eurozone Economic Surprise Index, which as shown below, recently plunged to 6 year lows, confirming that Eurozone econ ...


ECB Keeps QE Pledge, Rates Unchanged

We said not to expect fireworks from the ECB, and at least when it comes to the press release, this has been the case, because moments ago the Eur ...


When will Deutsche Bank, Barclays and TSB get off the zombie bank path?

It is time to take a look at an old friend except it is more along the lines of hello darkness my old friend from Paul Simon. This is because my o ...


The Convergence and New Divergence of GE and the S&P 500

Two months ago, we compared the trajectories of the S&P 500 (Index: INX) and General Electric (NYSE: GE) to the flight paths of starlings as the t ...


Intervju i Svenska Dagbladet

Intervju i Svenska Dagbladet, 26 april, 2018.


Buster’s Date Night At The Movies…

You have to be a San Francisco Giants fan to really appreciate this commercial. Too funny. Giants manager, Bruce Bochy, is known for having one of ...


Carmageddon for Cars: “Cars” Are Scheduled to Die

The end of an era in the US Auto industry -- until $7 gas arrives.


The Wall Street Journal and the future of Greece

Greece’s Business Prospects Brighten After Lost Decade. Or so says the Wall Street Journal. I fail to see how. And the graph below is their illust ...


Notes From Underground: Riding High in April

In building on the discussions in Tuesday’s POST it is important to note that the debt discussion that has taken place in Notes From Underground i ...


Stall Speed, Flattening Yield Curve, and the Longest Expansion

Data for Q1-2018 real GDP will be released on Friday, April 27. The Atlanta Fed’s GDPNow model predicts 2.0% q/q (saar) based on data availabl ...


Thursday: Unemployment Claims, Durable Goods, Housing Vacancies and Homeownership

Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 230 thousand initial claims, down ...


25/4/18: 90 years of Volatility: VIX & S&P

A great chart from Goldman Sachs via @Schuldensuehner showing extreme events in markets volatility using overlay of VIX and realised volatility fr ...


25/4/18: Draining of the Washington Swamp Reveals Mulvaney

Quote of the month, if not of the year, belongs to yet another Trump Administration 'draing the swamp hero, Mick Mulvaney, currently the White Hou ...


Is good news now good news, or bad news?

Mid-week market update: What should we make of the stock market now that the 10-year Treasury yield has breached the 3% level? Should we pay atten ...


Facebook Surges After Blowout Earnings, Buyback Boost: "Nothing That Was Feared, Happened"

Despite reporting blowout earnings, and beating on every single line time, Twitter failed to close in the green today, fading a 13% early spike, a ...


Stocks and Precious Metals Charts - Precious Metals Options Expiration - Le Voilà

Stocks were on another wild ride today, as earnings are coming in well thanks to the big tax cut for corporations, but going forward growth is har ...


What Will these Mortgage Rates Do to Housing Bubble 2?

4.73% now. 5% in a few weeks. Then 6%.


Venezuela’s 2Y Sovereign Yield Rises To Above 250% (Inflation Rises To 7,459%)

Things in Venezuela keep getting worse and worse under the incredible incompetence of Nicolás Maduro, Venezuela’s President. The two-year sovereig ...


25/4/18: Dombret on the Future of Europe

An interesting speech by y Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, on the future of Europe, with direct refe ...


"Liquidity Smile" Smirks As 25% Of All Volume Now Trades In The Last 30 Mins

What traders refer to as the 'liquidity smile' formed by the pattern of trading volumes has recently become more pronounced and turned it into a ' ...


25/4/18: Tesla: Lessons in Severe and Paired Risks and Uncertainties

Tesla, the darling of environmentally-sensible professors around the academia and financially ignorant herd-following investors around the U.S. ur ...


Treasury Sells 5Y Paper At Highest Yield Since Sept 2008 To Lukewarm Demand

If yesterday's 2Y auction was ugly, with poor bidside demand, today's 5Y was at worst average. Moments ago, the Treasury sold $35B in 5Y paper, t ...


NYSE Suspends Trading Of Amazon, Alphabet For Rest Of Day

Reuters reports that The New York Stock Exchange says trading suspended in Amazon (AMZN), Booking Holdings (BKNG), Alphabet (GOOGL) and Zion Oil & ...


DSGE models — false by construction

Advances in mathematical tools and in economic theory rapidly changed the landscape. From the perspective of macroeconomics, the streamlined DSGE ...


T-2, Judgement Day! US 2-Year Treasury Yields Up >120 Basis Points Just Since September 2017!

Investors should place close attention to the 2-year Treasury note. It has risen OVER 120 basis points just since September 2017. 3mo LIBOR and T ...


Bitcoin Tumbles Back Below $9,000 As Crypto Gets Clobbered

No obvious catalyst for the big drop this morning - aside from perhaps Chinese police seizing mining equipment in Tianjin - but Bitcoin Cash is pl ...


Inequality in US Life Expectancy

Here's a topic for lunch-table, hallway, and water-cooler conversation: How much would you be willing to pay, in actual money, for an additional 3 ...


Capex forecasts, Euro area GDP, Gasoline prices, Richmond Fed, New home sales

Trumped up expectations reversing? Growing modestly, and still below levels of the early 1970’s, and well below levels of the 2001 recession. T ...


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