Just one week ago, we highlighted the first victim of the latest "rogue wave" in global natural gas markets.As Miami-based Statar Capital gave up its "hefty gains" from earlier in the year, tumbling into the red amid the NatGas market turbulence, we warned that it would not be the last fund to admit major losses through this period of chaos.It appears we were right, and three y...Read More
$500,000,000.Half a billion dollars.Currently, this is how much of $SPX index needs to be bought or sold for every 1% down or up move, respectively.These flows are a result of a substantial options trade that remains unknown to most market participants.On Friday, we highlighted some of the impact of this 'hidden' crash hedge.Former Goldman Sachs quant Sergie Pefiliev (@Perfiliev) put tog...Read More
There was little surprise in today's third and final revision of Q2 GDP data, which came in just barely above consensus expectations, rising from 6.6% (or rather 6.560%) in the second estimate to 6.7% (6.720% to be precise), which was also higher than the 6.6% consensus. The number, while also higher than the 6.3% reported in Q1 will be the best US GDP print for a long, long time, with many e...Read More
Having slowed for two straight months, whisper numbers predicted a slightly hotter than expected September CPI (edging up to 5.4% YoY, slightly above the consensus of 5.3%) on the back of a re-intensification of supply-chain bottlenecks due to a combination of natural disasters and COVID disruptions in the US and Asia kept pressure on manufactured goods in September.Headline CPI did indeed come ho...Read More
After an ugly 3Y auction, and a solid 10Y sale yesterday, moments ago the Treasury sold $24BN in a 29 Year-10 month reopening of cusip SZ2 ahead of today's Fed minutes. But if one thought investors would show any nerves about the coming taper in today's auction, boy were they in for a surprise.That's because the auction was nothing short of spectacular: stopping at 2.049%, the aucti...Read More
Kitco News, Released on Released on 10/17/21The demise of the Fed is coming, and with the collapse of the current monetary system comes the adoption of Bitcoin as the new global reserve currency, said Gareth Soloway, chief market strategist of IntheMoneyStocks.com."What I'm actually calling for is a total collapse of the monetary system, actually. So, there will have to be a reset. And I do think...Read More
With oil prices having more than doubled in 2021 so far - and showing no signs of slowing - traders are doubling-down on bets that energy costs will go to the moon... by year-end.WTI is currently at 7 year highs...But, despite the futures curve being deep in backwardation...Options traders are buying OTM calls with both hands and feet.Wagers that WTI will top $100 by the end of 2021 have exploded...Read More
Goko Group, Released on Released on 10/17/21To find out the wealth accumulation opportunities in today's market environment, I've asked outspoken, world-renowned trend forecaster Gerald Celente to share his latest research findings on how you can make extreme profits from the major political, economic and social shifts ahead.This new post-pandemic reality is forcing us to rethink our future and in...Read More
At a time when the Wall Street banks are scratching their heads for credible explanations why they are keeping (or raising) their year-end S&P targets at a time when economic growth is in freefall and inflation is soaring (read: stagflation), an unexpected source of honesty has emerged - the Atlanta Fed, which now sees the US on the verge of contraction.In its latest GDPNow forecast published...Read More
Today was all about two things - what went up (crypto) and what went down (US economic growth forecasts).The much-anticipated launch of a Bitcoin (Futures) ETF sent the cryptocurrency to a record closing high (yes we know BTC doesn't "close")...Source: BloombergJust below the record intraday high from earlier in the year...Source: BloombergSpot Bitcoin topped $64,000 intraday...Sour...Read More
During an otherwise quiet pre-market session, billionaire investor Paul Tudor Jones sat down for an interview with the CNBC "Squawk Box" crew. But anybody who expected this to be a quiet, softball-filled interview about PTJ's philanthropic work (ahead of a major gala by his Robin Hood Foundation being held Wednesday night) was quickly disabused of that notion when PTJ opened with a...Read More
Two weeks after we reported that China's property market just suffered "catastrophic" property sales in September which invoked Goldman's "hard landing" scenario and which saw total sales of 759.6b yuan plunge 36.2% from September 2020 (and 17.7% lower from the same period in 2019), deepening a downward spiral that started in July with transaction volume of residentia...Read More
Update (1930ET): In a stunning development after hours, DWAC just topped $70, meaning it is up over 600% on the day...After being halted multiple times during the day...How long before Senator Warren demands this be removed from the exchange and that SPACs be immediately banned?Dear CNBC, it won't crush your ratings if you cover this at some point pic.twitter.com/l9IeVDlTaz- zerohedge (@zer...Read More
By Bloomberg markets live commentator and former Lehman trader Mark CudmoreU.K. breakeven rates at the highest levels this century aren't yet high enough...We're entering the eye of the earnings season and the message from corporates is already coming through loud and clear: prices will climb a chunk further over the coming months, even as output is impaired. Every day brings fresh news of suppl...Read More
While cryptocurrencies have been stealing the headlines recently with record highs amid 'inflation hedge' narratives, commodities have put in a strong performance amid supply chain shocks and unprecedented demand interference (monetary/fiscal policy). As everything from copper to crude and aluminum to zinc has soared, one metal has lagged...But, as Bloomberg reports, two of the biggest n...Read More
It's remarkable that just last April, West Texas Intermediate crude was trading at a negative $40. Well, fast forward to today when moments ago, the US black gold grade just topped $85 for the first time since 2014, the landmark in a global energy crunch that has seen prices soar. Brent traded about 150 cents higher as the spread between the two grades has narrowed sharply in recent weeks.Oil...Read More
By Bloomberg macro commentator and analyst Tommi UtoslahtiA global bond market meltdown is only a matter of time. One fine morning, traders will wake up to find all benchmark yields sharply higher, 10 to 20 basis points or more, and no buyers around.Bond price indicators are flashing deep red right now, from decade-high inflation expectations to waning auction demand and whispers of depressed l...Read More
Kitco News, Released on Released on 10/26/21Last time Bitcoin hit an all-time high in 2017, the price corrected and stayed flat for 2 years before regaining momentum in 2020. What will happen this time?0:00 - Stagflation2:51 - Biggest macroeconomic risks7:59 - Inflation hedges14:15 - Bitcoin20:00 - Crypto winter bitcoin, economy, inflation, lyn aldenLyn Alden: Bitcoin crashed last time it hit...Read More
"In stark contrast with the mindset of corporate leaders who are dealing daily with the reality of higher and persistent inflationary pressures, the transitory concept has managed to retain an almost mystical hold on the thinking of many policy makers," El-Erian wrote in an Oct. 25 op-ed in Bloomberg."The longer this persists, the greater the risk of a historic policy error whose negative impl...Read More
Submitted by OilPrice.comThe potential for a knock-on effect of rising fuel prices to be felt by other industries is becoming more likely, as oil and gas prices continue to rise to an all-time high, companies are finding it hard to maintain their costs and may have to shift this burden to the consumer any day now. Petrol prices have risen higher and higher this year, as oil makes a comeback in 20...Read More