28/12/18

2019: Zombie Markets Before The Fall

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2019: Zombie Markets Before The Fall
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Authored by Raul Ilargi Meijer via The Automatic Earth blog,

I haven't really written about finance since April of this year, and given recent fluctuations in what people persist in calling the markets, maybe it's time. Then again, nothing has changed since that article in April entitled This Is Not A Market. I was right then, and I still am.

[..] markets need price discovery as much as price discovery needs markets. They are two sides of the same coin. Markets are the mechanism that makes price discovery possible, and vice versa. Functioning markets, that is. Given the interdependence between the two, we must conclude that when there is no price discovery, there are no functioning markets. And a market that doesn't function is not a market at all.

[..] we must wonder why everyone in the financial world, and the media, is still talking about 'the markets' (stocks, bonds et al) as if they still existed. Is it because they think there still is price discovery? Or do they think that even without price discovery, you can still have functioning markets? Or is their idea that a market is still a market even if it doesn't function?

But perhaps that is confusing, and confusion in and of itself doesn't lead to better understanding. So maybe I should call what there is out there today 'zombie markets'. It doesn't really make much difference. What murdered functioning markets is intervention by central banks, in alleged attempts to save those same markets. Cue your favorite horror movie.

Now Jerome Powell and the Fed he inherited are apparently trying to undo the misery Greenspan, Bernanke and Yellen before him wrought upon the .....

Trump Administration Asked Top Hedge Fund Investor For Advice How To Halt Market Rout

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Trump Administration Asked Top Hedge Fund Investor For Advice How To Halt Market Rout
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Confirming once again that all that matters to the current administration is the market, CNBC rpeorts that a high-ranking Trump administration official reached out to at least one notable hedge fund investor for advice on markets after the record Christmas Eve rout, which saw all major US indexes tumble more than 2 percent as rumors swirled that President Donald Trump was contemplating firing Fed Chair Jerome Powell.

It is unclear who the "well known" investor was.

The source told CNBC that the administration was "determined" to boost equities which have become a key barometer of Trump's "success", at least in the president's own view.

The investor was said to tell the official to tell the president to end his criticism of Powell on Twitter, stop administration turnover and reach a trade deal with China in order to help markets.

Whereas Trump celebrated a consistent rise for stocks during his first year in office, frequently tweeting all memorable market milestones, markets have faltered in 2018 amid a trade war with China, concerns about the Fed's four interest rate hikes and fears about slowing global growth. Trump has yet to tweet about markets despite the recent sharp two-day rebound.

Even with the recent spike in the S&P, stocks were still on track for their worst December since 1931, with the S&P down about 10% and down almost 7% for the year.

Prior to the Monday plunge, Trump repeatedly blame market carnage on the Fed, most ....

Pending Home Sales Crash 7.7%, Biggest Drop In Four Years

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Pending Home Sales Crash 7.7%, Biggest Drop In Four Years
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There was some hope for a rebound in US housing indicators, after the recent existing home sales print rebounded, but that was promptly dashed after pending home sales dropped again in November, sliding -0.7% vs the expected 1.0% increase, declining in six of the last eight months, with a cumulative loss since March of -5.9% (-8.9% annualized)...

...and crashed a whopping 7.7% compared to last year, the biggest annual drop since April 2014.


This is the worst pending home sales print since June 2014.



Always eager to put lipstick on a pig, commenting on the collapse NAR chief economist Larry Yun said "the latest decline in contract signings implies more short-term pullback in the housing sector and does not ....

CRISI MERCATI: siamo davanti ad un nuovo 2008?

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CRISI MERCATI: siamo davanti ad un nuovo 2008?
// IntermarketAndMore

ANALISI MERCATI FINANZIARI: momento complicato, occorre capire se è l'inizio della fine oppure no. E i financial stress index ci possono aiutare. Su questo blog più volte abbiamo parlato di come il mercato sia stato gonfiato artificiosamente dalla politica monetaria … Continua a leggere
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L’Ue sanziona l’Italia e favorisce golpe tecnico-bancario della Bce

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L'Ue sanziona l'Italia e favorisce golpe tecnico-bancario della Bce
// L'Opinione della Libertà

Far cadere il Governo italiano per motivi bancari, finanziari. Starebbero lavorando a questa congiura gli ormai arcinoti "poteri bancari europei"...


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Wall Street 2019: in arrivo incertezza e volatilità anormale

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Wall Street 2019: in arrivo incertezza e volatilità anormale
// Trend Online

Nonostante le turbolenze del mercato a dicembre, molti dei principali analisti di Wall Street restano ottimisti per il 2019.

Nonostante le turbolenze del mercato a dicembre, molti dei principali analisti di Wall Street restano ottimisti per il 2019.

Gli ottimisti

La media del target per il 2019 sull'S&P 500 è di 3.000 punti. Un rialzo del 20 percento rispetto ai livelli attuali, una ....

US and China barrel into economic cold war

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Piazza Affari parte in rialzo, per indice FTSE Mib solo un rimbalzo tecnico?

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Piazza Affari parte in rialzo, per indice FTSE Mib solo un rimbalzo tecnico?
// Money.it

Piazza Affari ha aperto in territorio positivo questa mattina con l'indice FTSE Mib che trovando sponda sul supporto a 18mila punti, toccato ieri, riesce a rimbalzare ed a mantenersi momentaneamente sopra i 18.200 punti.

La fase tecnica dell'indice italiano rimane molto delicata. Infatti con lo scivolone di ieri le quotazioni del principale indice azionario italiano sono scese sotto il supporto statico a 18.411 punti, andando ad aggiornare un nuovo minimo relativo dal 7 dicembre 2016. Questa data è molto significativa in quanto corrisponde al punto di partenza del rally partito all'indomani del referendum costituzionale indetto dall'allora premier Matteo Renzi.

Se gli attuali livelli statici di .....

Nervosismo alle stelle per l'S&P 500

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Nervosismo alle stelle per l'S&P 500
// ...Markets Trading e Segnali Operativi


Seduta nervosa per l'S&P 500. Dopo avvio difficile che ha spinto le quotazioni fino a un minimo intraday a 2297 punti, l'indice americano ha invertito la rotta a meno di due ore dal termine, archiviando gli scambi in territorio positivo, a 2488,83 punti (+0,86%). Sarà fondamentale osservare l'andamento dei ...

Brandon Smith: The Fed Is A Suicide Bomber With A Deeper Agenda

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Brandon Smith: The Fed Is A Suicide Bomber With A Deeper Agenda
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Authored by Brandon Smith via Alt-Market.com,

Central bankers are sociopathic in nature and sociopathic people tend to behave like robots. When one understands the motivations of central bankers, or at the very least what their goals are, their actions become rather predictable. The question is, what truly motivates these people?

I believe according to the evidence that the central banks are motivated by ideological zealotry with the core purpose of total global centralization of economic and ....

Scenario ribassista sempre piu' probabile per il future Ftse Mib

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Scenario ribassista sempre piu' probabile per il future Ftse Mib
// Trend Online

Per il Ftse Mib future dopo il ribasso di giovedi', che ha portato i prezzi al di sotto dei 18000 punti, diventa sempre piu' probabile uno scenario ribassista condizionato dalla presenza del "rettangolo" disegnato dai minimi di fine ottobre con base a 18400 circa, ora resistenza in caso di rimbalzi, e limite superiore a 19670 circa.

Per il Ftse Mib future dopo il ribasso di ...

A proposito dei gilet gialli

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A proposito dei gilet gialliNe parlano tutti, ma poi chi li conosce? Il problema è questo: se sono veramente unhttps://www.finanzaelambrusco.it/articoli/articoli/politica/a-proposito-dei-gilet-gialli/