tyb
Morning Mkt Report
Funny that the system is now paying attention to chinese data. It did not matter all year as it has steadily deteriorated while our mkt has risen-keep searching for a reason don't they?
Prior to a few weeks ago the system always had great a great friday-this was so financial tv did not have to spend the next two days talking about the actual results (data).
As mentioned the closer this gets to FRB decison day, the worse the headlines will be, or at least they will suddenly matter moar.
Some Headlines
How an Obama Fed appointee is scuttling Wall Street's bid to ease rules
WASHINGTON (Reuters) - As a U.S. Federal Reserve governor, Lael Brainard gets only one vote on proposals that come before the central bank’s board.
Over the past year, she has used it to combat the Trump administration’s efforts to ease rules for Wall Street.
Brainard has broken ranks six times with other governors, voting against measures that she says would unnecessarily weaken regulations put in place after the 2007-2009 financial crisis. She said “we may be whittling away at that core resilience of our financial system.”
Brainard has been the lone dissenting voice,
she has wielded out-sized influence due to the Fed’s long-held practice of arriving at decisions by consensus.
STFU-pepe has read some of your 'opinions'-nothing moar than a parrot being fed lines.
https://www.reuters.com/article/us-usa-fed-brainard/how-an-obama-fed-appointee-is-scuttling-wall-streets-bid-to-ease-rules-idUSKCN1TF14E?
Retail Sales increased 0.5% in May
On a monthly basis, retail sales increased 0.5 percent from April to May (seasonally adjusted), and sales were up 3.2 percent from May 2018.
https://www.calculatedriskblog.com/2019/06/retail-sales-increased-05-in-may.html
please visit this site, as previously mentioned this is/was a zerohedge minus the trading angle, prior to ZH appearing.
10-year Treasury yield nears 21-month low after soft China data
has a little spike in it now-see cap#3
Treasury prices rose on Friday, pushing yields down close to multi-month lows, after Chinese industrial and investment data showed signs that the second largest economy in the world was under pressure.
Bond rates tumbled after Chinese industrial output rose 5% in May, falling short of the 5.5% forecast. Meanwhile, fixed-asset investment outside Chinese rural households climbed 5.6% in the January-May period from a year earlier, lower than the 6.1% increase recorded in the January-April period.
Hong Kong tycoons start moving assets offshore as fears rise over new extradition law
https://www.reuters.com/article/us-hongkong-extradition-capitalflight-ex/exclusive-hong-kong-tycoons-start-moving-assets-offshore-as-fears-rise-over-new-extradition-law-idUSKCN1TF1DZ?
this will create a flow to the other index(s) for the world-plays right into the hands of our mkt.
Treasury Yields Spike, Stocks Dip As Retail Sales Weakens Rate-Cut Case
Risk on, risk off. As a result, expectations for more stimulus in China continue to grow as the Sino-U.S. trade dispute threatens to escalate into a full-blown trade war that many fear could push the global economy into recession.
tell the truth here tyler…globalism is being removed, there will still be trade but the expansionist policies that got us in this mess is /are being removed- make no mistake china will continue to print.
Speaking of Europe, the Stoxx 600 Index fell as much as 0.8%, hitting a session low, with 18 out of 19 sectors dropping, led lower by tech and banks.
the most bloated sectors imo.
The dollar’s index against a basket of six major currencies was little changed initially, but spiked to session highs after China warned the US not to get involved in Hong Kong matters.
no problem china-you created this, you deal with it-ever wonder why the brits gave it back to you?
US Event Calendar-remaining data
9:15am: Industrial Production MoM, est. 0.2%, prior -0.5%; Manufacturing (SIC) Production, est. 0.1%, prior -0.5%
10am: U. of Mich. Sentiment, est. 98, prior 100; Current Conditions, est. 109, prior 110; Expectations, est. 92, prior 93.5
10am: Business Inventories, est. 0.5%, prior 0.0%
Away from that we’re due to hear from the BoE’s Carney this afternoon.
probably moar fear pron.
https://www.dailyfx.com/crude-oil
https://www.bloomberg.com/markets/stocks/futures
https://www.marketwatch.com/investing/bond/tmubmusd10y?
https://www.zerohedge.com/news/2019-06-14/sea-red-global-stocks-tumble-after-dismal-chinese-data-broadcom-bust
not much from here but have to credit.
she can go get fucked, moar responsible, along with her boss(s), for creating the leveraged CDO markets.
they did. Fucking cufflinks then turned her loose on cryptos-she had to exit that last december though. Been rather quiet from her since. I know that is not his real name but don't know what it is. Didn't they 'own' the lease on the valdez if not mistaken?
visual for others
Industrial Production Increased 0.4% in May
Industrial production rose 0.4 percent in May after falling 0.4 percent in April. The indexes for manufacturing and mining gained 0.2 percent and 0.1 percent, respectively, in May; the index for utilities climbed 2.1 percent. At 109.6 percent of its 2012 average, total industrial production was 2.0 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector moved up 0.2 percentage point in May to 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2018) average.
it's difficult to see but Cap#2 is a small uptick-good news.
Capacity utilization at 78.1% is 1.7% below the average from 1972 to 2017 and below the pre-recession level of 80.8% in December 2007.
master data here:
https://www.federalreserve.gov/releases/g17/Current/default.htm
The increase in industrial production and increase in capacity utilization were above consensus.
https://www.calculatedriskblog.com/2019/06/industrial-production-increased-04-in.html
convinced that those ships swapped, it was already on fire before leaving port. Have to say when we had the notre dame incident on april 15th-JPM dumped a bunch of stock too. No coincidences there, on the anniv. no less.
yes the memories, was still pretty green back in '89 but recall looking into the valdez thing which is what sort of fired it off going forward.
and then the stuff you already mention. A lot less info available at time so it became a search through the depths of usenet. That was fun…sometime yes, sometimes no.
>credit lines intact for sexier activities.
like fueling the tech bubble and thai bhat 'issues' with LTCM-a total mind-screw as far as it's name went if ever there was one. At least we get to call it out and try to fix it. thankful for that.
i don't believe any of the published stuff about names and heritage. Look at hollyweird, they did poor job at name changes-that is pretty well known, financial system much better.
>reduce punitive damages from 5b down to 500m that June of 2008
to prepare it for the end of september, we had Bear Stearns in march and that was when the silver legacy short position was handed to them, the wash mutual fiasco-all they wanted was the depositer base. The list is so long and all culminating in all of them going to W's WH and getting the bailout via tarp. Then there's this guy…I can't even start with this one. Feel the neck hairs rising recalling this stuff now
>Corzine and MF global, whom JPM was opposite
don't even bring it up. Lost a shared account there. Had a group of about six people whom we tossed the p-words back and forth. 2 people always had it so in case someone went 'off the reservation' the other could correct.
We never saw a dime because the settlements they offered-started out at like .60 cents/dollar-were a matter of principle at that point. Was never about the money-you win some, lose some. It was about the games. Still free too.
found that one so can't claim creation.
yes improvement is good, especially when this sector has been beaten down and compromised for so long. Apparently this is another thing missed in here.
probably, would have to look at that at same time for sure-no way to know for sure. I pretty much gave up doing anything with it shortly after that-MF global. made enough in 08 to make that decision easier. Not a rich man but not poor regarding money, but the measure of being rich goes well beyond a bank statement imo. Happy and that is what matters. The only real fuckup I wish I had back was shorting amzn in the 40's and not giving it up until just over 100-glad i did though. That's about the same time they acquired zappos and before that deal even closed they applied it's goodwill accounting to amzn's books. It went parabolic after that so a 30k loss would have been take the house, car, etc for margin call. Spouse still needles me about that one too.
good for you. that always the case, win some lose some. Some of these people have never seen capitulation and crap pants when it's down 2%. I've only ever seen it once and that was 1987. '08 into '09 was too controlled, it was not good but nowhere near capitulation. Of course we got the ppt out of '87 so that never habbened again. Even the tech wreck was controlled. Root A to the rescue, fucker couldn't even program four digits into the date code. the real reason for the y2k fear pron.
i still think he is satoshi fwiw
>many of us
speak for yourself, this undying devotion crap is just ridiculous. Hung himself by own actions. who gives a shit who owns it either way-this one stays out of the way and doesn't needlessly famefag. guessing you have forgotten how pleasant last august was.