tybs and good morning
morning nigga
China's National Team(i.e.Plunge Protection Team) Swoops In To Prop Up Stocks As Deal Hopes Crumble
knew they would do this is some form, stealth printing
Reports overnight that talks between the Chinese delegation and the US had yielded little to no progress, leaving tariffs to take effect at midnight (albeit with a built-in two-week delay that will give negotiators more time to strike a deal), rocked Chinese equity markets during Friday's trade.
Notching the worst weekly performance of the year so far, the Shanghai Composite has fallen 4.5% since last Friday. But the carnage could have been much worse. Because as markets spiraled lower earlier in the week, the Communist Party called in the National Team - a coalition of state-backed investment funds - to backstop the market.
The timing of the NT's interventions is easy to spot by looking at a weekly chart of equity-index performance: On Friday, the intervention was particularly obvious, as the NT swooped in to push stocks back into the green during the latter half of the trading day after reports that the next escalation in US tariffs had formally taken effect crushed hopes for an 11th hour deal.
Ministry of Foreign Affairs Spokesman Geng Shuang later told reporters that there hadn't been a phone call between Trump and President Xi.
By the close of Asian trading, the Shanghai Composite was up 3.1%, ending the session at the highs. The Shenzen soared 3.8% on the day (though both remained down for the week).
By contrast, Japanese shares, which mirrored moves in Chinese stocks during the first half of the session, continued to weaken and finished the day lower.
Global Times editor Hu Xijin, who has emerged as one of the most visible mouthpieces for the Chinese government during the escalating trade conflict, touted the resilience of Chinese markets on Friday as evidence that "China's market has largely withstood the initial wave of psychological impact of Trump's tariff stick.
China stock market closed Fri at 3am US time with SSE index rising 3.1%. Today's trading spans over time when US' new tariffs took effect. This shows China's market has largely withstood the initial wave of psychological impact of Trump's tariff stick. It's US market's turn next.
— Hu Xijin 胡锡进 (@HuXijin_GT) May 10, 2019
He added, with a heavy dose of foreboding, "it's US market's turn next."
(fuck you nigga…it's been our turn propping your sorry ass up for 50 year's witha ll the free shit you got from us…defense secrets, manufacturing base, technology etc-KYS)
As Alt-Market's Brandon Smith noted earlier, China has propped up markets since December with its revitalized stimulus program, and its willingness to marshal state-backed funds to step in and buy during the few instances when sentiment has deteriorated. This has helped propel Chinese markets to world-beating gains…that is, until this past week.
https://www.zerohedge.com/news/2019-05-10/chinas-national-team-swoops-prop-stocks-hopes-11th-hour-deal-crumble
American Homes 4 Sale Execs sell shares
For the day crew, was filed last night.
cap#1 is last night's filing, cap #2 is recent.
This company was knee-deep in the MERS scandal, "Phoney and Fraudy" Mac scandal(s), along with several institutions that enabled the theft of home's with the illegal foreclosure's and basically grabbing home's for penny's on the dollar. Run them through any property aggregator and you will see they have the highest rent's, most unfavorable contract term's-for the renter's-etc. In short…scumbags.
https://www.secform4.com/insider-trading/1562401.htm
2 Nissan execs avoid prosecution under plea deal
TOKYO – The special investigative unit of the Tokyo District Public Prosecutors Office has decided not to charge two Nissan Motor Co. executives in connection with the arrest of former Nissan Chairman Carlos Ghosn after striking a plea deal with them, those familiar with the case have disclosed.
Ghosn, 65, faces charges including violating the Financial Instruments and Exchange Act by underreporting his remuneration in financial statements, and aggravated breach of trust in violation of the Companies Act by allegedly shifting his personal investment losses to the company.
Sources close to the investigation said that two Nissan executives, a senior vice president of foreign nationality and a Japanese national who was formerly an executive at the company's secretariat, had cooperated with public prosecutors in plea bargaining between October and November last year. They are said to have handed public prosecutors materials relating to the charges against Ghosn of underreporting his income, as well as information relating to suspicions that Ghosn had Nissan provide luxury housing in Brazil and Lebanon.
Ghosn's case is the second in which public prosecutors applied plea bargaining since the new system was launched in Japan in June last year. Public prosecutors used information they obtained through the plea bargaining to charge suspects including Ghosn with violating the Financial Instruments and Exchange Act. They later additionally filed charges against Ghosn of illicitly sending money to an acquaintance in Saudi Arabia, and having Nissan's assets circulated to him through Oman – incidents which were not subject to plea bargaining.
The two executives who participated in the plea deal were suspected of involvement in the case against Ghosn of violating the Financial Instruments and Exchange Act, but public prosecutors reached a deal with them and shelved charges. It is believed the decision not to charge them was made now as the current stage of investigations has reached a juncture.
The special investigative unit hit Ghosn with his fourth indictment on April 22, and procedures are now expected to advance toward his trial.
Nissan as a corporation has also been charged with violating the Financial Instruments and Exchange Act.
https://mainichi.jp/english/articles/20190510/p2a/00m/0na/003000c
looks like the ball is moving in the right direction. When that shit started to get busy in 2007 had an indymac loan, knew they had bifurcated the title and mortgage so put in an FOIA with the Fed-because that is where they put it and then spun the good stuff out to onewest bank and munchkins-actually got the "smoking gun" paperwork from them about transferring the title minus the actual loan to DB. Still have the document too. That process was quickly shut down and they just referred you back to the actual MERS website. Doing anything with it came down to finding a judge who would rule in your favor, Knew that wasn't going to habben so basically gave up. The trust that held my docs had it in 48 fucking time's and there were example's of other's in at well over a hundred. All paper cash flow to keep the 'tute's appearing solvent.
sorry I did not clarify it. Moving in the right direction to expose the entire thing with the continued fuckery, you know the whole "never interfere with your enemy…..as now it's on record again as a continued circumnavigation. The problem is nothing new as the county's lost the revenue for many year's by being forced to allow this instead of collecting the fee's for the actual recording. Unfortunately I had the 9th circuit so I knew it was pointless to begin with. That's ok as I still have the original FRB docs from that request and many do not. Saw that shit from the start. Even contacted indymac and told then I would place the mortgage payment in escrow until they answered the question about the bifurcation. They didn't and never actually acknowledged anything about it. So I paid-pissed me off to no end that I knew what they were doing before most-even some laywer's I spoke to had zero idea it was even going on. Not a lawyer so just let it go. Hopefully those docs will have a use someday
Sold that house in 2016, so free and clear of that. Ty for the advice and sure many can use it. I did have the title insurance issue cleared up after I gave up that fight. The kicker in the entire thing was receiving the sign off docs…they were signed by "larry" greene so at least they changed gender's to make it appear real . Couldn't make that shit up. Still have those too.
Stocks (drop)On "Trade Deal Hopes" After US Hikes Tariffs As Trade Deal Collapses
(go look again tyler's they are down)
The market may have hit peak absurdity this morning because just hours after another round of US tariffs against China went into effect as some $200BN of Chinese imports saw tariffs hiked to 25% and Beijing vowed it would strike back, world stocks and US equity futures jumped after a volatile overnight session because, as the official narrative goes according to Reuters, "investors held out hopes for a trade deal between the United States and China" even as, as noted above, another round of U.S. tariffs on Chinese goods took effect.
Eager to "explain" the bizarre market (non) reaction, the WSJ went into full blown narrative-building mode, and wrote that stocks shrugged the tariff hike for these reasons:
Hike was priced in;
Negotiations are still ongoing;
This could accelerate agreement.
Then again, not everyone bought this cheap attempt to goalseek a story to market action, and Credit Suisse wrote that "In the short term, a renewed intensification of trade tensions between the United States and China could fuel further volatility and lead to temporary setbacks. Still, we see recent developments as the United States strengthening its negotiating position in order to achieve a better deal, potentially later than expected."
Bullshit attempts to explain why algos are doing what algos are doing, here are the five takeaways from the tariff hike which went live at 12:01am this morning.
The Trump administration imposed a 25% tariff on more than $200 billion in Chinese goods, up from 10% before, in its most aggressive step yet in the trade war. China said it will take “necessary countermeasures,” though has yet to specify them.
Day one of talks between top Chinese and U.S. economic officials in Washington ended with little progress and a downbeat mood, according to people familiar with the talks. Negotiations are set to resume Friday morning.
Asian markets were whipsawed in heavy trading as news emerged, with stocks swinging from gains to losses. As the Shanghai Composite slumped 3% from the morning-session high, state funds intervened to prop up stocks, people familiar with the matter said. The index closed up 3.1% and the yuan rose.
Investors are also on the lookout for any sign of a call between Presidents Donald Trump and Xi Jinping, after Trump said he’d received a letter from Xi and flagged the potential for a phone conversation between them.
Next steps to watch include the details on China’s retaliation, news on any broader stimulus efforts to safeguard growth and on any move by Trump to impose new 25% tariffs on $325 billion more of imports, a threat that he reiterated Thursday.
To be sure, global stocks took the news in stride, even if it require some major state intervention, and Asian stocks rebounded after a four day losing streak as fresh American tariffs kicked in on Chinese goods and traders awaited countermeasures promised by Beijing. The Shanghai Composite Index surged 3.1%, with Kweichow Moutai and Ping An Insurance Group Co. leading gains, with the very clear help of some pretty aggressive plunge protection team intervention, as noted in an earlier post. Now that the gloves are off between the US and China, expect far more such aggressive intervention.
Some on Wall Street are bracing for much more pain to come, and on Thursday UBS Wealth Management cut its exposure to emerging market stocks, changing its portfolio as the intensification of trade tensions took its toll on markets, the asset manager said in a note. Trump also threatened on Thursday to take steps to authorize new tariffs on $325 billion in Chinese imports.
(look at cap#2-ya think?)
US Event Calendar-data-
8:30am: US CPI MoM, est. 0.4%, prior
0.4%; YoY, est. 2.1%, prior 1.9%
8:30am: US CPI Ex Food and Energy MoM,
est. 0.2%, prior 0.1%; YoY, est. 2.1%, prior
2.0%
8:30am: Real Avg Hourly Earning YoY, prior
1.3%; YoY, prior 1.31%
2pm: Monthly Budget Statement, est.
$160.5b, prior $214.3b
https://www.zerohedge.com/news/2019-05-10/stocks-rise-trade-deal-hopes-after-us-hikes-tariffs-trade-deal-collapses
https://www.bloomberg.com/markets/stocks/futures
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
See cap#3, this is what the system is concerned about and nothing else-correlation's to debt and equity market's.
The FOMC lowering the discount rate in the last meeting ensured this would accelerate.
Look for a repeat of yesterday, early morning drop and then meandering throughout the day as it is a friday and financial TV does not want to talk about any of this from a fundamental view, they would rather rachet up the rhetoric about it being POTUS' fault.
Fuck them.
Oil trade confirms the futures action.
>Is morality dead? I wonder.
imo on that level it never existed. Buffet bought several mfg home co.'s too. Alway's making sure the angle's are covered. Feel you anon especially with the Coldwell thing. When those started popping up rebranded as BH I just about lost it. The washing machine of crony capitalism at it's finest.
Mr Yun…yes a bastion of truth he is, forget the name of the previous one at present but he released that book just prior to it all falling apart in '07 about how it was never going to end. That is the dumbest group of people in the world. The entire profession needs a cleansing from top to bottom. All they care about is the transaction being completed-and little else. A neighbor who is selling, many here in ca are FWIW-or trying to- had his contract date left blank and did not catch it until he showed it to me. Fucker's will try anything for those points on sale. All you have to do is pass an easy test and voila! your are an agent.
Alot like certified financial planner's too. Don't get me wrong there are some good one's in both profession's but the shitty one's make a bad name for all of them.
We will prevail fren-we have to. Don't spend the good part of everyday here for a loss, been that way since early last year. Fuck 'em I say
Too many people see what goes on in here to not have an affect. I'm patient.
o7 fren
oh ya it is. The fun part of it is shoving back into the face's of all the doubter's who all "knew" i/we are crazy. Parent's, extended family all going to go "jawuhhhh"-soon
That is going to be SWEET, but not the motivation-just a nice bonus. Now all we need is the trade deal and it's off to the race's methinks.