1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

R.T.M. ~ Frontrunning ~ 2nd Ed., Vol.3 ~ Jan 9th - 13th

Discussion in 'Coffee Shack (Daily News/Economy)' started by searcher, Jan 8, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Bill Holter-It’s Going to Look Like Caveman Days
    Greg Hunter



    Published on Jan 7, 2017
    What will the end of 2017 look like? Financial writer Bill Holter says, “I don’t think it will even resemble what today looks like. I think you may see the financial system come down, and it may be by the end of the year that the system is coming back up or coming back on line. We are going to have a bank holiday. We are going to have to have some sort of reset. The reset will include a bank holiday. Your ATM won’t work. Your credit cards won’t work. Distribution is going to fail. It’s all about credit. Everything financial and everything economic relies on credit. I believe that we are going to have a credit crisis this year where credit becomes very scarce or actually dries up completely. In that scenario, it is not good. You are talking about distribution breaking down and people going hungry, riots, martial law, cross default from country to country to country to country, bank to bank to bank and broker to broker to broker. Everything runs and lives on credit, and without credit, it’s almost like caveman days.”

    Holter also says, “If you ask the question, does the average American believe we’re broke, I think deep down, and in the back of their minds, they think we’re broke. We’re living this lifestyle, and they think this lifestyle is not going to change. When the lifestyle does change, and it’s forced to be changed, that’s a gigantic truth bomb.”

    Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Bill Holter of JSMineset.com.

    All links can be found here in the “After the Interview” section: http://usawatchdog.com/in-2017-trump-...
     
  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    TBP - 10 Sunday Reads 01/08
    http://ritholtz.com/2017/01/sunday-reads-77/

    Naked Capitalism Links 01/08
    http://www.nakedcapitalism.com/2017/01/links-1817.html

    SA - Market News Live Feed 01/08
    http://seekingalpha.com/market-news

    MtM - Macro Forces Underpin Dollar, Equities and Yields 01/08
    http://www.marctomarket.com/#!/2017/01/macro-forces-underpin-dollar-equities.html

    SA - Weighing The Week Ahead: Digging Down On The Trump Effect 01/08
    http://seekingalpha.com/article/4034980-weighing-week-ahead-digging-trump-effect
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Crisis, Dullards And Wake-up Call
    By: Jim Willie CB
    Whether the conversations are with dullards or stubborn types, maybe educated and formerly successful types, maybe those who are stuck in the paper world of shuffled investments of seemingly no basis, it is of no matter. The battle has been for a few years to convince those around us that a deep contracted crisis is underway. The battle has been to convince that a paradigm shift is in progress. The battle to convince family, friends, colleagues, neighbors, and acquaintances that the financial and economic system is facing a profound risk of total breakdown has been difficult.


    In a Lawless World, Rules STILL Matter
    By: Andy Sutton and Graham Mehl
    While economics is a science and should be treated as such, economic forecasting is both a science and an art at the same time. However, anyone can forecast. Just like anyone can forecast the weather. To do so accurately and furthermore to do so frequently is a true talent. We think of it along the lines of the ability to hit a major league fastball; a gift granted to maybe 1 in 500 or a thousand babies each year. Then add to that the ability to hit a major league fastball for an average of .300 over an entire career and we’re talking a few babies in an entire generation.
     
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    RMR - Guest: Andrew Thompson (01/07/2017)
    Rogue Money



    Published on Jan 8, 2017
     
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Surviving The Aftermath Of The Market Economy | Shaun Chamberlin
    FinanceAndLiberty.com



    Published on Jan 8, 2017
    Historian and economist David Fleming undertook the writing of Lean Logic a grand vision that projected out the likely path of collapse for our currently unsustainable way of life, as well as the key success factors society will need to cultivate to come out the other side. Sadly, he died in 2010 with the 350,000-word manuscript still in draft form.

    Following his death, his writing partner Shaun Chamberlin distilled the book's prime conclusions into the more accessible Surviving The Future: Culture, carnival, and capital in the aftermath of the market economy. Shaun, who has also been deeply involved with Rob Hopkins in the Transition Movement since its inception, stresses that localized communities that pursue developing as much independence from the central economy as possible will be the foundations for creating a sustainable, enjoyable future.

    This video was posted with permission from http://PeakProsperity.com

    FINANCE AND LIBERTY:
    SUBSCRIBE (It's FREE!) for more ►http://bit.ly/Subscription-Link
    Website ►http://FinanceAndLiberty.com
    Like us on Facebook ►http://fb.com/FinanceAndLiberty
    Follow us on Twitter ►http://twitter.com/Finance_Liberty
    Google Plus ►http://Gplus.to/FinanceLiberty

    DISCLAIMER: The financial and political opinions expressed in this video are not necessarily of "Finance and Liberty" or its staff. Opinions expressed in this video do not constitute personalized investment advice and should not be relied on for making investment decisions.
     
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Party Like The Dow Is 19,999: US Futures Dip As Global Currencies Stumble; Oil Down, Gold Up

    [​IMG]
    by Tyler Durden
    Jan 9, 2017 6:44 AM


    European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards. Oil dropped below $54 a barrel on Iran supply concerns, while gold rose 0.6% to $1,180.

    Top stories include potential candidates to head the Federal Reserve in 2018 suggest they would pursue tighter policy; McDonald’s selling control of China business to Citic, Carlyle; Air Products looking to buy China’s top industrial gas maker.

    A key focus for the week will be a news conference on Wednesday at which Donald Trump may give more details of his policies before his Jan. 20 inauguration. Expectations of more economic stimulus from a Trump administration have helped push U.S, stocks and bond yields higher since his victory in the Nov. 8 election.

    Political risks have emerged as the week begins, rippling across FX markets with the pound, Turkish lira and South Korean won leading declines, while gold rose on haven demand and Chinese buying.

    The dollar edged higher on Monday, boosted by robust U.S. wage growth data strengthening the case for more Federal Reserve interest rate increases, while Britain's pound fell on Prime Minister Theresa May's hint at no membership of the EU's single market. Still, Britain's blue-chip FTSE 100 index nonetheless hit a record high, continuing its streak of all time highs, as the first full trading week of 2017 on London markets began. The pan-European STOXX 600 index dropped 0.4% in early deals.

    Sterling dropped to a 10-week low after the Prime Minister Theresa May indicated she prioritized regaining control of immigration during Brexit negotiations, while tensions between North and South Korea and debates on constitutional changes in Turkey put an index of developing currencies on track for the steepest drop in three weeks. Telecoms and real estate were among the biggest losers in European shares, while oil dropped for the first time in four days. Gold rose as investor holdings posted the first back-to-back increase since the U.S. election.

    [​IMG]

    "The rise in the FTSE is really down to the weakness in sterling, but the Brexit news is not great so I don't see the FTSE gaining too much," said Ipek Ozkardeskaya, market strategist at London Capital Group.

    The Turkish lira dropped to new record lows after a warning from Moody's about the country's bad loan situation, while deputy PM Canikli blamed an "unacceptable campaign" to move interest rates higher.

    [​IMG]

    As Bloomberg notes, currencies, not bonds, have emerged as the preferred way for investors to express displeasure with political developments, because "they are seen as less vulnerable to intervention", which may be true in most places except China where after this weekend's report that Chinese reserves dropped by another $41 billion, all eyes are on how Beijing responds to the relentless capital flight. The offshore yuan was down 0.4 percent following Friday’s 0.9 percent retreat. The central bank set the onshore yuan reference rate 0.9 percent weaker against the dollar, though still stronger than some bank models predicted.

    Meanwhile, British PM May said Sunday that negotiations on Brexit will be about “getting the right relationship, not about keeping bits of membership.” A so-called hard Brexit may push the Bank of England to keep rates lower for longer, while weakening the pound and supporting foreign-focused companies in the main stock index, Bloomberg added. As a result, the pound fell to $1.2159, the lowest since Oct. 31, at 11:04 a.m. in London.

    "Since October it's become clear that sterling has a very binary relationship with political news, and anything which suggests a 'hard Brexit' sends sterling down, and anything that suggests a 'soft Brexit' sends sterling up. That’s been the case since the party conference in October," said Rabobank currency strategist Jane Foley.

    “Politics is a much more important factor these days for currency markets than it used to be,” said Adam Cole, head of global foreign-exchange strategy in London at Royal Bank of Canada. “There is a lot more political uncertainty now.”

    In light of the geopolitical uncertainty, after dipping in initial trade, the Bloomberg Dollar Spot Index rebounded from an earlier loss and was up 0.2%.

    In Asia, MSCI's ex-Japan Asia-Pacific shares index was flat on the day, having risen as much as 0.5 percent after posting a rare loss in the previous session. Australia's S&P/ASX200 rose 0.9 percent while Hong Kong shares rose 0.2%. Trading was light because Japan is shut for a holiday.

    In Europe, the Stoxx Europe 600 Index fell 0.5%, on course for its biggest decline in almost four weeks. The main outperformer was the U.K. market, with the FTSE 100 Index heading for a 10th consecutive daily increase, as stronger economic data combined with a declining pound spurred buying.
    • Deutsche Lufthansa AG tumbled as much as 5.6 percent after analysts were underwhelmed by the airline’s guidance update.
    • Swedish bank Svenska Handelsbanken AB dropped after a downgrade at Credit Suisse Group AG.
    The S&P 500 futures were little changed. The underlying gauge rose 0.4 percent to a record close of 2,276.98 on Friday in New York.

    In rates, German 10-year government bond yields last traded at 0.29%, down 0.5 basis points on the day. It earlier rose close to 0.33 percent, its highest since Dec. 19, after data showed German exports rose 3.9 percent in November, their strongest monthly gain since May 2012 and far ahead of forecast.

    * * *

    Market Snapshot
    • S&P 500 futures down less than 0.1% to 2271
    • Stoxx 600 down 0.4% to 364
    • FTSE 100 up 0.2% to 7228
    • DAX down 0.4% to 11555
    • German 10Yr yield down less than 1bp to 0.29%
    • Italian 10Yr yield down 6bps to 1.9%
    • Spanish 10Yr yield down 6bps to 1.48%
    • S&P GSCI Index down 0.8% to 395.1
    • MSCI Asia Pacific down 0.2% to 138
    • Hang Seng up 0.2% to 22559
    • Shanghai Composite up 0.5% to 3171
    • S&P/ASX 200 up 0.9% to 5807
    • US 10-yr yield down 2bps to 2.4%
    • Dollar Index up 0.23% to 102.45
    • WTI Crude futures down 1.7% to $53.06
    • Brent Futures down 1.7% to $56.11
    • Gold spot up 0.3% to $1,176
    • Silver spot down less than 0.1% to $16.49
    Top Headline News
    • Potential Fed Chairs Suggest They Would Pursue Tighter Policy: potential candidates to head the Fed in 2018 suggested that monetary policy would be tighter if they were in charge
    • McDonald’s Sells Control of China Business to Citic, Carlyle: McDonald’s in agreement to sell 80% of its operations in China and Hong Kong to a consortium including Citic and Carlyle Group
    • Air Products Looks to Buy China’s Top Industrial Gas Maker: target shares jump in Hong Kong trading after intent letter
    • Morgan Stanley, UBS Said to Plan Boosting China JV Stakes: banks plan to boost holdings to regulatory threshold of 49%
    • Frozen in Detroit: Trump Stumps Builders of Cars in Age of SUVs
    • Fiat Chrysler Spends $1 Billion on U.S. Amid Trump Squeeze
    • VW Taps Hippie Heritage With Electric Microbus Amid Revamp
    • Volvo Cars Plans to Export Half of South Carolina Plant’s Output
    • FBI Said to Have Arrested Ex-VW Exec on Conspiracy Charges: NYT
    • ‘Rogue One’ Cruises to Fourth Weekend Atop Box Office
    Asian equity markets traded higher after a strong close in the US on Friday, where all 3 major US equities posted gains and DJIA came within 0.37 points of the 20,000 level. ASX 200 (+0.9%) outperformed to trade in the green for the fifth consecutive day, with the IT sector taking the impetus from its US counterparts to lift the index higher after a flat open. However, gains were capped as a slightly stronger AUD, and lower government iron ore demand predictions weighed on mining names. KOSPI (flat) lagged amid uncertainty in the country as the parliamentary committee held its last hearing for the case surrounding impeached President Park, with South Korean heavyweight SK Hynix shares trading higher by over 3% to help keep the index afloat. In China, markets were mixed with Shanghai Comp (+0.5%) boosted by a relatively firmer liquidity operation by the PBoC and Hang Seng (+0.3%) choppy initially as China's CSRC stated it will increase the importance of risk prevention in the stock market this year, however rallied as the session progressed to conform to the upbeat tone. Nikkei 225 was closed due to the Coming of Age Holiday.

    Top Asian News
    • North Korean Nukes Seen Hurting Trump Re-Election Prospects: nation will probably claim with credibility within four years that it can hit U.S. with a nuclear weapon
    • Singapore Demands Hong Kong Return Seized Military Vehicles: City-state yet to open direct dialog with China on carriers
    • Rubber Prices Climb as Deadly Floods Damage Thai Plantations: Inundation set to affect rubber supplies in weeks ahead
    European equities (-0.4%) trade broadly lower this morning, with the energy sector the most notable laggard. In terms of a stock specific basis, Volkswagen (+4%) are the best performer in the DAX after reporting FY 2016 brand sales +2.8%. Elsewhere, the FTSE 100 bucks the trend to trade in positive territory (+0.1%), with exporters benefitting from the softness in GBP, with some also talking about whether more monetary easing may be necessary after Theresa May indicated over the weekend that single market membership may not be achievable in Brexit talks.

    European Econ data
    • German Nov. Ind. Production Rises 0.4% M/m; Est. +0.6% M/m
    • German November Exports +3.9% M/m; Est. +0.5% M/m
    • Bank of France December Business Sentiment Rises to 102 vs 101
    • Italy Unemployment Rate Rose to 11.9% in November; Est. 11.6%
    • Eurozone January Sentix Investor Confidence 18.2 vs Est. 12.8
    • Eurozone Nov. Unemployment Rate 9.8%; Est. 9.8%
    Top European News
    • German Industrial Output Climbs in Sign of Economic Strength: output gained 0.4% in November vs estimated 0.6% increase; Economy Ministry sees solid output growth in winter half
    • May Signals U.K. to Quit Single Market to Curb Immigration: May denies “muddled” thinking, pledges Brexit details in weeks; Pound weakens as May’s comments indicate hard Brexit
    • Christmas Sports Bets Bring Tough End to Year for William Hill: profit will be about 20 million pounds less then expected
    • Euro-Area Unemployment Holds at 7-Year Low as Growth Strengthens: joblessness remains at 9.8%, in line with estimate; unemployment lowest in Germany, highest in Greece and Spain
    • Italian Unemployment Rate Rises to Highest Since June 2015
    • Lufthansa Forecasts ‘Clearly Negative’ Trend in Yields for 2017: shares decline; outlook underwhelming, analysts say
    • Fresenius Medical Care Shares Slump After Patient-Aid Subpoena: shares down the most in almost 2 months
    • Italy Clears Hurdle in Monte Paschi Rescue Without Even Trying: European Commission has to approve application for state aid
    In currencies, the pound fell to a 10-week low, or $1.2159, the lowest since Oct. 31, at 11:04 a.m. in London. The Bloomberg Dollar Spot Index rebounded from an earlier loss and was up 0.2 percent. The offshore yuan was down 0.4 percent following Friday’s 0.9 percent retreat. The central bank set the onshore yuan reference rate 0.9 percent weaker against the dollar, though still stronger than some bank models predicted. The won fell 1.3 percent and the lira 2.2 percent, dragging the MSCI Emerging Markets Currency Index 0.4 percent lower for the biggest drop since Dec. 15. The yen fell 0.2 percent to 117.28 per dollar and the won slid 1.3 percent, the most in two months.

    In commodities, West Texas Intermediate crude oil dropped 1.5 percent to $53.16, halting its advance below $54 a barrel as an increase in U.S. drilling offset signs OPEC members are sticking to planned output cuts. Adding to the pressure was the Friday report of a surge in Iranian exports and selling from its offshore inventory, as well as the addition of more rige by US producers. Gold rose 0.4 percent to $1,176.7 an ounce.

    US Government:
    • Senate in session, plans consideration of budget resolution; House in session and could consider bills related to regulations and investing in startups
    • 10am: Supreme Court hears oral arguments
    • 11:30am: HUD Sec. Julian Castro delivers remarks on housing market and protections for HUD-assisted residents
    US Event Calendar
    • 9am: Fed’s Rosengren Speaks in Hartford, Connecticut
    • 2pm: Fed’s Lockhart Speaks to the Rotary Club of Atlanta
    • 3pm: Consumer Credit, Nov., est. $18.400b (prior $16.018b)
    * * *

    DB's Jim Reid concludes the overnight wrap

    As my year starts I wanted to recap for my own benefit the key early moves seen so far in 2017. The most significant have probably been those in rates and FX. 10y Treasury yields are 2.5bps lower compared to where we finished 2016 at 2.420% although that masks what has been an 18.4bps intraday high-to-low range over the week. At 0.294%, 10y Bund yields on the other hand are 9.3bps higher while in the periphery 10y yields in Italy, Spain and Portugal are 14.8bps, 15.7bps and 28.5bps higher respectively. In fact the latter crept over 4% for the first time since last February after the latest ECB PSPP holdings data revealed a much slower than expected rate of purchases in Portugal last month relative to its implied capital key. With the ECB tapering discussion clearly still topical last week’s European data and in particular the inflation numbers were all fairly supportive too. In fact our European economists noted that their SIREN-Momentum and SIREN-Surprise indicators are currently above 85% and 90% of their respective readings over the past decade. Their combined reading stands close to the top two percent of historical observations.

    Meanwhile in FX the USD index ended the week pretty much unchanged but again with a notable 2.43% range. Indeed there were fairly sizeable daily moves as investors balanced the FOMC minutes with Trump’s appointments and tweets and also the big move for the Chinese Renminbi which saw the offshore currency rally +1.81% last week. More on that shortly. EM currencies on the whole had a fairly decent week (Russian Ruble and Colombia Peso stand out after rallying nearly 3% each) while the MSCI EM equity index returned +2.18% as commodities – and in particular metals – started the year by building on recent highs. Elsewhere credit markets have started positively. In the US CDX IG is 3bps tighter at 64.7bps and close to the recent tights while in Europe the iTraxx Main is 4bps tighter at 69bps with that index also creeping in on last year’s tights.

    Financials have also gotten off to a decent start with the iTraxx senior and sub fins indices 7bps and 23bps tighter respectively. The big news in credit though has been the incredible start for primary markets. Indeed the US IG market stands out in particular with total issuance of over $60bn last week, making it one of the biggest weeks on record. Even more impressive is the fact that there was no one or two bumper offerings, unlike other record weeks. Finally, where it’s been a bit quieter is equity markets. That said it’s still been a decent start with the S&P 500 (+1.70%) and Dow (+1.02%) both up (the latter within a whisker of the 20,000 level) following further gains on Friday while the Stoxx 600 turned in a +1.12% return last week. European Banks also rallied to the tune of +3.79%.

    The highlight of the upcoming first full week of 2017 might well be President-elect Trump's first news conference on Wednesday since his election win. His tweets continue to be market moving events for the stocks and sectors it influences and very soon there will be more and more macro consequences of his musings and actual policy decisions. So watch out for things to hot up after Wednesday. Remember also that the inauguration is a week on Friday and we'll soon be into the well watched first 100 days.

    China won't be far from Mr Trump's crosshairs in 2017 and as mentioned earlier the big story here so far this year has been the +1.81% strengthening of the offshore RMB last week. At one stage on Friday the currency was as much as +2.78% stronger in 2017 before it gave back some of those gains on Friday. It’s given back another -0.48% this morning too with offshore lending rates also notably lower (CNH Hibor down to a still elevated 14% from 69% on Friday) and in fact it’s now on course for the biggest two-slide since June last year. So China is ruffling a few feathers again at the start of a New Year. It’s worth also noting that the weekend data showed that China’s foreign reserves fell for a six month in a row in December and to a five-year low of $3.01tn, albeit pretty much bang on consensus.

    On a related topic, over the weekend our China economists published a report discussing their view of the Dec-31 Decree issued by the PBoC stipulating new reporting regulations regarding large/suspicious financial transactions. They highlight that the Decree could potentially pose a severe hit to “capital flight without cross-border fund flows”. They also note that the Decree is an “infrastructure building” effort with regulatory implications far beyond capital control. Better tracing of large/suspicious financial transactions will not only serve for anti money laundry, but also help with, for instance, regulation of shadow banking activities.

    Elsewhere this morning equity markets in Asia are generally off to a decent start to the week. The Shanghai Comp (+0.56%), ASX (+0.93%), Hang Seng (+0.04%) and Kospi (+0.12%) have all edged higher while markets in Japan are closed for a public holiday. There’s been some interesting corporate news too with the announcement that McDonald’s is to sell 80% of its China franchise for about $2bn with Chinese state-backed conglomerate Citic Group to take a 52% stake. Meanwhile Sterling (-0.38%) has weakened following a Sky News interview yesterday with UK PM Theresa May in which she said the eventual exit of the UK from the EU will be about “getting the right relationship” and “not about keeping bits of membership”. May also played down Ivan Rogers’ comments last week when he criticised the government’s “muddled thinking”, while May added that the government “will be setting out some more details in coming weeks as we look ahead to triggering Article 50”.

    Moving on. For those that missed it, Friday was all about the final US employment report of 2016. While headline nonfarm payrolls may have appeared a touch disappointing at first glance having come in slightly below consensus (156k vs. 175k expected), there was also a cumulative 19k of net positive revisions to the prior two months. That was a similar story for private payrolls (144k vs. 170k expected) where the November reading in particular was revised up to 198k from 156k at the first reading. Meanwhile the rest of the report was generally supportive. The U-3 unemployment rate ticked up as expected to 4.7% although the broader U-6 rate dropped one-tenth to 9.2% and in doing so hit a new postfinancial crisis low. The labor force participation rate nudged up one-tenth to 62.7% while average weekly hours held steady at 34.3hrs. The report might however be best remembered for the +0.4% mom gain in average hourly earnings (vs. +0.3% expected) which has helped the YoY rate to accelerate to +2.9% from +2.5% - the highest since June 2009.

    As noted earlier US equities took heart from the report, helping the S&P 500 to rise +0.35% while 10y Treasury yields reversed a decent part of the moves in the previous two days to close 7.5bps higher. The USD index (+0.69%) also rallied back while Gold (-0.63%) nudged lower. The other data in the US on Friday didn’t offer too much to the debate. The November trade balance revealed a further widening in the deficit to $45.2bn from $42.4bn. Finally factory orders weakened a little bit more than expected in November (-2.4% mom vs. -2.3% expected). Following all that the Atlanta Fed left their Q4 GDP forecast unchanged at 2.9% while the NY Fed raised their growth forecast to 1.9% from 1.8%.

    There was also some Fedspeak to take stock of on Friday. The Philadelphia Fed’s Harker said that “I’m pencilled in for 3 rate increases” this year. The Dallas Fed’s Kaplan confirmed that the December SEP, which had a median projection of 3 rate hikes this year “gives you a sense of my views” but that the Fed needs to be nimble to revise forecasts as events unfold. Finally the usually dovish Chicago Fed’s Evans confirmed that 2 hikes this year is “not an unreasonable expectation” and that 3 hikes is “not implausible”.

    Before we look at the week ahead, for completeness in Germany on Friday the hard data was a little bit disappointing with both November factory orders (-2.5% mom vs. -2.4% expected) and retail sales (-1.8% mom vs. -0.9% expected) declining more than expected. The European Commission’s index of economic sentiment was however reported as rising 1.2pts in December to 107.8 and more than expected.

    Moving now to this week’s calendar. We’re kicking off the week in Europe this morning with Germany where the latest industrial production and trade data is due. Business sentiment data in France follows along with the latest house price data in the UK, before we get then get the Sentix investor confidence reading for the Euro area and also the November unemployment rate reading. Over in the US we’ve got the usual post-payrolls lull but the November consumer credit reading will be out this evening. We’re kicking off Tuesday in China where the December CPI and PPI prints will be due. In Europe the only data due out is the latest industrial production numbers in France while in the US the NFIB small business optimism reading is due for last month, along with the November wholesale inventories and trade sales report and also the November JOLTS job openings report. Wednesday kicks off in the UK with the November trade data and also industrial and manufacturing production prints. There’s no data of note in the US on Wednesday. Japan gets things going on Thursday with November trade data. During the European session we’ve got inflation data in France, GDP in Germany and industrial production data for the Euro area all due. Over in the US the data includes initial jobless claims, import price index and the December monthly budget statement. During the Asia session on Friday the highlight is likely the December trade report in China. It’s a quiet end to the week in Europe with no notable releases due. In the US we finish the week with the December PPI report and retail sales, November business inventories and finally a first look at the January University of Michigan consumer sentiment reading.

    Away from the data the Fedspeak this week consists of Rosengren and Lockhart today, Harker, Evans, Bullard and Kaplan on Thursday and Fed Chair Yellen early on Friday morning when she is due to host a town hall meeting with educators from across the country. Q&A is however expected. The ECB will also release the minutes from the December policy meeting on Thursday. Meanwhile, this week earnings season will start to kick into gear with JP Morgan, BofA and Wells Fargo all reporting on Friday. Perhaps the most hotly anticipated event this week however will be President-elect Trump’s aforementioned general news conference on Wednesday, the first since his election victory. That will also come one day after President Obama’s televised farewell speech from Chicago.

    http://www.zerohedge.com/news/2017-01-09/
     
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Frontrunning: January 9

    [​IMG]
    by Tyler Durden
    Jan 9, 2017 7:38 AM

    • European shares dip, sterling falls on Brexit comments (Reuters)
    • Pound Falls to 10-Week Low as May Hints at Single-Market Exit (BBG)
    • Offshore Yuan Falls for Second Day as Bears Reload After Squeeze (BBG)
    • Trump's choices for top Cabinet posts face big tests this week (Reuters)
    • Nine Trump Nominees Who’ll Face Extreme Vetting by Democrats (BBG)
    • Meet the Mercers: New Power Brokers in Trump’s Washington (WSJ)
    • Why the China Manipulator Label Looks Increasingly Appealing to Trump (BBG)
    • Turkish Lira Extends Losses as Rate Speculation Mounts (BBG)
    • Auto Makers in Hot Seat as Political Pressure Rises (WSJ)
    • GM Won’t Move Small-Car Production From Mexico (WSJ)
    • ‘La La Land’ Sets Golden Globes Record With Seven Statuettes (BBG)
    • Big China bitcoin exchange says no government pressure on outflows (Reuters)
    • Brazil Worries the ‘China of South America’ Is Eating Its Lunch (BBG)
    • McDonald’s Aims to Flip China Results by Ceding Control (WSJ)
    • UnitedHealth to buy Surgical Care Affiliates in $2.3 billion deal (Reuters)
    • German Industrial Output Rises in Sign of Economic Strength (BBG)
    • Navy, Trump planning biggest fleet expansion since Cold War (Reuters)
    • Kansas Offers Cautionary Tale for Trump's Tax Ambition (BBG)
    • Police arrest 16 in France over Kardashian robbery (Reuters)
    • Trump’s Canceled Overseas Projects Only Brought in $323,150 (BBG)
    • China Is Planning a New, Relaxed Approach to Growth (BBG)
    • Your Favorite Food Can Tell You About What Your Money's Worth (BBG)
    • Florida airport shooting suspect to appear in federal court (Reuters)

    Overnight Media Digest

    WSJ

    - Fiat Chrysler Automobiles NV said Sunday it will invest $1 billion in two existing plants, creating what it says will be 2,000 new jobs. The decision ahead of Motown's annual car show comes as auto makers have faced heat from the incoming administration of President-elect Donald Trump to manufacture more vehicles in the U.S. http://on.wsj.com/2i5TsNl

    - Akbar Hashemi Rafsanjani, a former president and pillar of Iran's Islamic revolution who became a leading critic of the hardline clerical establishment in the later years of his life, has died. He was 82. http://on.wsj.com/2ispHHt

    - McDonald's Corp has reached a deal to sell a controlling stake in its China operations to an investor group led by Citic Ltd, one of China's largest state-owned companies. Citic Capital Holdings and private-equity giant Carlyle Group LP will buy an 80 percent stake in the fast-food giant's China business in a deal that values the operation at up to $2.08 billion. The agreement is for 20 years. http://on.wsj.com/2i8PB5s

    - Ride-hailing company Uber said in the coming weeks it will start releasing its data from dozens of global cities showing average travel times from one point to another, information gleaned from millions of trips. Uber said the anonymized data, initially from Washington, D.C., Sydney and Manila, can be a resource for urban planners to analyze traffic patterns and make more informed decisions about civic infrastructure. http://on.wsj.com/2iXDtWc

    - General Motors Co Chief Executive Mary Barra said the company won't move small-car production to the United States from Mexico in the wake of President-elect Donald Trump's criticism of the auto maker's imports. Barra, speaking to reporters at a GM event on the eve of its hometown auto show in Detroit, said manufacturing decisions and plant investments are made far in advance of production and can't easily be reversed. http://on.wsj.com/2iTvetN

    FT

    Britain's foreign minister Boris Johnson has arrived in the United States to meet close advisers to President-elect Donald Trump and senior Congressional leaders to discuss ties between the countries.

    Prime Minister Theresa May on Monday will launch a series of domestic initiatives, starting with a promise to "transform mental health support", as part of a drive to create what she calls "a sharing society," vowing to use "the power of government" to achieve her aims.

    Housebuilder Berkeley Group Holdings Plc opened a new division in Birmingham in its first venture outside London and the southeast in more than a decade.

    The number of UK companies acquired by foreign buyers fell by 30 percent during the second half of 2016 from a year earlier, according to accounting firm Moore Stephens.

    NYT

    - Russian warplanes have carried out airstrikes to support Turkey's offensive in northern Syria against the Islamic State, an important evolution in a budding Russian-Turkish partnership. http://nyti.ms/2jiYVl2

    - Advisers to President-elect Donald J. Trump's transition team, facing complaints from Democrats that they are trying to jam nominees through confirmation hearings, said on Sunday they were confident all the appointees would be approved by the Senate. http://nyti.ms/2iT8GHF

    - Turning attention away from her and toward Donald J. Trump, Meryl Streep used her acceptance speech for the Cecil B. DeMille Award at the Golden Globes to call out the president-elect for mocking a disabled New York Times reporter in 2015. http://nyti.ms/2iTk2eC

    - Uber Technologies Inc on Sunday unveiled Movement, a stand-alone website it hopes will persuade city planners to consider Uber as part of urban development and transit systems in the future.

    - The Federal Bureau of Investigation has arrested a Volkswagen AG executive who faces charges of conspiracy to defraud the United States, two people with knowledge of the arrest said on Sunday. http://nyti.ms/2jsSf87

    - Amid nationwide marches, highway blockades and looting stemming from widespread outrage over an increase in gas prices, President Enrique Peña Nieto of Mexico went on national television to appeal for understanding.

    - Mexican officials said on Sunday that they had arrested an American citizen in connection with the shooting of an American diplomat in Guadalajara, Mexico's second-largest city.


    Canada

    Britain

    The Times

    * Rail strikes that have caused commuter misery in southern England are set to spread across the country, it emerged this weekend. Industrial action is "inevitable" on the Northern rail network, which covers a swathe of northern England including commuter services in Leeds, Manchester, Newcastle upon Tyne and Hull, a union boss warned. http://bit.ly/2isZEjp

    * Green Investment Bank is set to be stripped of its prized assets once Australia's Macquarie Group Ltd seizes control of the state-owned lender later this month. http://bit.ly/2i42M9u

    The Guardian

    * Foreign minister Boris Johnson has flown to New York for the UK government's first formal face-to-face meetings with Donald Trump's administration, hours after Prime Minister Theresa May declared the U.S. president-elect's remarks about women unacceptable. http://bit.ly/2i7x0qs

    * Scotland's first minister, Nicola Sturgeon, has again insisted she is serious about her threat to hold a second referendum on Scottish independence in the event of a hard Brexit. http://bit.ly/2i2QNc4

    The Telegraph

    * Three of the City's most powerful figures face a grilling from members of parliament over suggestions banks and other financial services firms exaggerated the threat posed by Brexit. Douglas Flint, chairman of HSBC Holdings Plc ; London Stock Exchange boss Xavier Rolet; and Elizabeth Corley, vice chairman asset manager Allianz Global Investors, will appear before the Treasury Select Committee on Tuesday. http://bit.ly/2i42BLj

    * British jet engine maker Rolls-Royce Plc is teaming up with a host of rivals including Amec Foster Wheeler Plc and Arup to develop mini-nuclear reactors. http://bit.ly/2iXJceu

    Sky News

    * Sky News understands that PricewaterhouseCoopers has been asked to help Co-operative Group Ltd find buyers for a portfolio of commercial real estate, private finance initiative and wind-farm loans as regulators intensify their scrutiny of it. http://bit.ly/2i7zZzh

    * Theresa May has told Sky News her government is not suffering from "muddled thinking" over Brexit. The prime minister was responding to criticism from Ivan Rogers, who resigned as Britain's ambassador to the European Union. http://bit.ly/2j7qnmq

    The Independent

    * Former Education Secretary Michael Gove has urged Theresa May to leave the single market and customs union, describing the approach as a "full Brexit." http://ind.pn/2iSQUGl

    * Healthcare unions have disputed the pertinence of Theresa May's claim that NHS funding is at record levels, saying she is in "denial" over overwhelming demand and bed shortages. http://ind.pn/2i7wOrj

    http://www.zerohedge.com/news/2017-01-09/
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Asian Metals Market Update: Jan-9-2017
    By: Chintan Karnani, Insignia Consultants
    China could try and regulate bitcoins. Chinese are using bitcoins to get over the foreign exchange outflow curbs. Bitcoins are attracting short term speculative interest away from gold and silver. In the long term gold and silver are still a better investment than most commodities. At current prices the long term down side risk is limited to twenty percent with chances of over hundred percent rises over the next two years. To those who intend to invest in gold and silver, one word to caution, the pace of rise and fall over the next two years can cause stomach ulcers.

    Gold and Silver Market Morning: Jan 9 2017 - Shanghai dominating London and New York prices!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
    London is the developed world’s heart of the physical gold market. New York is the paper market. ‘Paper gold prices’ cannot overrule physical prices. It seems obvious, but it isn’t as COMEX has dominated gold prices [with the support of physical sales into London] for several years.
     
  15. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

    Joined:
    Mar 29, 2010
    Messages:
    8,059
    Likes Received:
    2,725
    Trophy Points:
    113
    Location:
    Lone Star State
  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Mornings with "V" & CJ - It's Not Hybrid War, It's Hybrid Stupidity (01/09/2017)
    Rogue Money



    Streamed live 2 hours ago
     
  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Outlook: Trucking regulations and the new administration

    Jan 5, 2017 Sean Kilcarr | Fleet Owner

    As Donald Trump prepares to take the oath of office this month, many motor carriers are rightfully wondering how much change his administration will bring to the trucking industry.

    On the one hand, Trump’s unvarnished dislike of current trade agreements—the Trans Pacific Partnership (TPP) is all but dead, and he’s publicly called into question sections of the North American Free Trade Agreement (NAFTA)—could potentially harm motor carriers. Much of the domestic freight hauled by trucks comes from trade activity.

    On the other, a “regulatory rollback” of sorts may be in store for several proposed rules (e.g., the speed limiter mandate) though ones already in place (e.g., electronic logging device requirement) may be left alone.

    David Kelly, a longtime automotive industry expert who served as acting administrator of the National Highway Traffic Safety Administration (NHTSA) under President George W. Bush and is now president of consulting firm Storm King Strategies, says whatever eventually happens regarding which rules stay and which ones go all boils down to the priorities set by the incoming administration.

    “Once a new administration comes in, everything that is pending is pulled; they stop working on them,” he explains. “Anytime you have a change in administration, even one with holdovers from a previous administration, you are going to have a change in priorities.”

    Kelly says advice given to him by Transportation Secretary Norman Mineta bluntly illustrates that maxim. “He used to tell me, ‘At the end of the day, we are all staff,’ even the transportation secretary,” Kelly emphasizes. “Everyone has a higher pecking order; the only one who doesn’t is the president.”

    However, he adds that even presidential priorities must follow the rules of the regulatory game. And that means a rulemaking can’t become truly “final” until Congress has a chance to review it within 60 days, Kelly says.

    “When a new president comes in, all pending rulemakings that have not been finalized will be withdrawn pending an internal review,” Kelly explains. “So the date really isn’t Jan. 20—Inauguration Day—when any outstanding rule needs to be finalized. It was actually back on Nov. 20, 2016, when it needed to get published and sent to Congress before the 60-day review; otherwise, it becomes subject to a review by the new administration.”

    Avery Vise, president of consulting firm TransComply, anticipates that the long-awaited drug and alcohol clearinghouse posted by the Federal Motor Carrier Safety Administration (FMCSA) back in early December should be safe. But others may be at risk, such as the following:

    Driver training: “On paper, it looks like everybody agrees because there was a negotiated rulemaking.” However, the American Trucking Assns. (ATA) and the Owner-Operator Independent Drivers Assn. (OOIDA) are on opposite ends of the sprectrum when it comes to training. ATA is behind the published rule that includes performance-based training while OOIDA backs a minimum number of training hours and not based on the number of hours.

    Safety fitness determinations: “It’s not so much a partisan issue, as the whole proposal is greatly flawed. It’s not even clear that if Hillary Clinton had won the election that the rule would have proceeded.”

    Obstructive sleep apnea: “There are going to be some significant costs to carriers and potentially capacity-draining ramifications. I think we’re certainly going to go slow, and it may be shelved.”

    Speed limiters: “It’s somewhat more political than you would’ve expected. Now that it’s been proposed, the rule has become a lot more controversial than it might’ve been a decade ago [when ATA first petitioned for it]. In part, a lot of states have adopted higher speed limits, and putting speed limiters in will create a greater differential. That’s exacerbated by the fact that the proposal doesn’t even pick a speed and was very unclear. It’s particularly controversial in the Western states that have higher speed limits—and they’re very strongly in the Republican column.”

    Minimum insurance levels: “This is a proposal that really has died, even within the Obama administration. The trial lawyers are very close to the Democratic Party, and this is something that the community wanted. Higher minimums ultimately would lead to higher settlements and higher contingency fees. I put that as a virtual zero chance of happening.”

    The twist for trucking in all of this is that almost any list of priorities selected by Trump will impact the industry in some fashion, notes Chris Spear, ATA president and CEO.

    When you move 70% of the nation’s domestic freight, there are few issues out there that we are not a part of either directly or indirectly."
    - Chris Spear, ATA president and CEO

    “When you move 70% of the nation’s domestic freight, there are few issues out there that we are not a part of either directly or indirectly,” he says. “Tax reform, trade, and infrastructure—we have a role to play in all of those issues.”

    For starters, he noted that the 10- year, $1-trillion infrastructure proposal put on the table by Trump late last year could be a big positive for the industry in a number of ways.

    “Infrastructure is our industry’s lifeblood. We need good infrastructure, and getting such a package passed is key right out of the gate,” Spear notes. “At least as proposed, that package will likely be tied to tax reform.”

    Spear says trade is another pivotal issue, as over 76% of NAFTA surface trade is carried by trucks. “Again, we have to help shape whatever trade proposals will look like,” he stresses.

    It depends
    When it comes to regulation, though, Spear says “it depends.”

    “We’re not afraid of regulations; we’re a very heavily regulated industry. But what we want are good, clear regulations that we can comply with without undue burden and a measurable return,” he points out. “Look at the Phase 2 greenhouse gas rules. They will define future efficiency for our industry and offer a measurable return for our investments. This is a win-win for us and the environment.

    “But where regulations don’t work, we’ll oppose them. For example, we will oppose the speed limiter rule [because] it’s a completely flawed approach.”

    In the end, he stresses, it “all really comes down to good give-and-take between industry and the regulators.”

    Todd Spencer, executive vice president of OOIDA, believes there’s been far more take than give in recent years where regulatory oversight of trucking is concerned. And he’s hopeful the changeover in administration might encourage a fresh look at highway safety as a whole.

    “The regulatory regime has been on steroids for the past few years. Is there a cumulative effect? There sure is,” he explains. “The kind of mind-set in the regulatory/legislative community right now is that more is better. But although there’s been more regulation and more compliance than there’s ever been, crash numbers keep going up, not down. So what the very people making all of these rules should be asking is, ‘What the hell is going on?’”

    This trend can be illustrated by data found in the Large Truck and Bus Crash Facts 2014 report issued by FMCSA in April of last year. From 1979 to 2009, total fatal crashes involving just large trucks and buses dropped from 6,007 to 3,193, a decline of 46%, or some 2,814 fatal crashes. But from 2009 to 2014—not quite a decade—fatal crashes increased from 3,193 to 3,649, an increase of 12%, or 456 crashes.

    According to preliminary data released by NHTSA last July, fatalities in crashes involving large trucks also increased by 4% during 2015, with 9 out of 10 regions within the United States reporting increases in traffic deaths for that year.

    “The [safety] system as it currently exists is missing everything; we’ve never had more regulations or compliance with regulations, yet crashes keep going up,” Spencer says. “At some point, you have to say time out. We have to ask what things are important. Enforcement and safety are not the same things; there’s no connection between more enforcement and fewer crashes.”

    Deceleration
    Sandeep Kar, global vice president of mobility for global consulting firm Frost & Sullivan, also believes that a Republican-controlled Congress coupled with Trump’s presidency could mean a deceleration or “de-prioritization” of several regulations focused on trucking.

    Though hours-of-service regulations have long been unpopular among truckers, especially owner-operators, most industry observers expect them to be left unchanged since the regulatory focus of Trump’s administration in its first several months will likely be on issues concerning trade and immigration.

    “The ELD mandate, which is scheduled for introduction this year, will usher in a wave of digitization in trucking and also looks to remain unaffected as this mandate had strong Republican backing,” Kar adds. “Repealing it at this late stage seems unlikely.”

    Looking at it from a broader perspective, he stresses that few industries will face the impact—whether net positive or negative—of a Trump presidency as strongly as trucking, which he says is a “leading indicator of economic activity” and typically feels the effects of economic swings and fluctuations well before many other industries or sectors.

    “While the effect of the Trump administration’s legislative actions will be experienced primarily by the U.S. commercial vehicle industry, global market participants and markets will have much to note and consider,” Kar explains.

    “Most presidential transitions include reasonable certainties regarding upcoming policy priorities and changes that enable nations, markets, and industries to prepare for their impact,” he says. “Over the past several decades, proposed policy changes generally have had narrow boundaries. This time it is different, and it is going to be more different for trucking than ever before.”

    Trump’s publicly stated stance on lowering corporate taxes will definitely have cascading effects on all aspects of U.S. and global industries.”
    - Sandeep Kar, global vice president of mobility, Frost & Sullivan

    “Lower corporate taxes would likely result in businesses considering either establishing or reshoring U.S. operations,” Kar emphasizes. “While on the surface this would appear to be great news for the U.S. trucking industry, it may not be as great for either U.S. or global truck manufacturers and suppliers. Lower corporate taxes will most likely drive service-based businesses to the U.S., which would be of less benefit to freight movement than a move of manufacturing operations.”

    Trade trends
    Another concern is that labor costs could spike as lower corporate taxes could drive inflation, resulting in wage hikes that would render the incentive of lower taxes much less effective.

    Moreover, Kar thinks the U.S. and many other economies are still unstable, with many nations skating dangerously close to recessionary boundaries. Thus, economic and trade policy changes could induce short-term recessionary spasms before a clearer and stable picture emerges, he says.

    Where trade is concerned, modifications or rejections of trade treaties, such as NAFTA or TPP, could adversely impact U.S. truck OEMs and their suppliers, he believes, as many manufacture and/or source materials from Mexico. But there may be a silver lining from that as well, Kar explains.

    “Several Asian OEMs in recent years have secured strong positions in light- and medium-duty truck markets, [and] new trade policies could hurt them, forcing more U.S. localization and higher taxation for market access—both of which will favor U.S.-based OEMs,” he notes.

    There is another positive, however. Expedited infrastructure refurbishment and/or enhancement projects and public-private partnerships focused on improving U.S. highways and freight movement infrastructure could have a net positive impact on freight and vehicle efficiencies, route congestion, and sales of off-highway vehicles if the administration implements many such projects immediately.

    “[But] this could prove difficult because funding [needs] could trigger higher taxes, and Trump has stated his opposition to increase the deficit to pay for his infrastructure plans,” Kar stresses.

    He points out that the U.S. leads other markets in developing and commercializing technologies, but he warns that any political policies that stifle innovation in digitization, Big Data analytics, information technologies, or mobile and wireless services could hold back the move into a new era for trucking.

    “Global freight mobility market fundamentals are slowly but surely being energized, new logistics models are being created, and freight efficiencies are being enhanced by commercial trucking’s digital transformation,” he explains.

    “All of that will disrupt commercial vehicle industry business models, result in the collapse of arcane and inefficient processes and technologies, and transform an industry that forms the backbone of U.S. and global economic activity,” Kar says.

    http://fleetowner.com/fleet-managem...m=email&elq2=957c6cacd3ac4db28568c6fa86a62e50
     
  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    2017 Preview: Key Signals to Watch Out For | Bix Weir
    Reluctant Preppers



    Published on Jan 9, 2017
    Cashless Society - The Real Impacts & the Pitfalls We Need to be Aware Of

    ===================

    Cashless society is a final push to take away your liberties.

    All transactions are in the purview of those who rule over you.

    Taking away your ability to live without government controlling you.

    They want the instant ability to cut you off if you don’t agree.

    We really have to fight this one.

    Steps you can to take to protect yourself: get yourself some alternative de-centralized currencies:

    Gold & silver coins, Bitcoin, hoard some cash, especially smaller bills, call your congressman,

    Loss of our privacy, your every move tracked.




    2017 Preview: Key Signals to Watch For & the Most Likely Outcomes

    ===================== late 2016 launched a year of transition: Brexit, people going against their bankers’ wishes Trump election: going through a process, despite appointing some market riggers and bankers Watch gold & silver rigging : it will signal whether Trump really bringing empowering change: if he lets it cut loose even a little at the beginning it signals a change/ If France bails on the Euro and goes back to the Franc, the Euro is done/ Should see a collapse early on, a re-evaluation of where we stand. By year’s end we should be moving forward following the big transition What’s going to happen if your power goes out, if your internet fails, your local community will be all you have for week, maybe months or could be years. Europe derivative situation: back-door bailouts of Deutsche Bank & Italian Bank, When Trump takes office, Obama no longer in charge of Exchange Stabilization Fund. “Draining the Swamp”: most critical signal will be ending manipulation of precious metals. 3 CFTC investigations denied market rigging, but confession of silver manipulation. Congress, many others who’ve been doing bad deeds are afraid of Trump cleanup, hopefully there will be trials before the people. Trump’s military spending: he is a negotiator, will play the tough guy, nobody knows what he will do next. China & other countries no longer need the US after collapse of the US Dollar as world reserve currency? US Dollar will be the last unbacked currency, then faith in all unbacked currencies will be destroyed. Derivative market INSURES that all fiat currencies and offshoots of currency will be destroyed. Even your 401(k) has been re-hypothecated, leveraged into a pool.


    2017 Practical Preparedness

    =============== This is the Transition Year from nanny state to taking care of ourselves, not an easy transition You are going to need to have the means to protect your family, your possessions and your food. There must be nobody between you and your possessions. If just one bank fails, every banking financial asset is lost. Prepare as though you are going “on a camping trip off the grid” for over a month.

    Subscribe (it's FREE!) to Reluctant Preppers for more ► http://bit.ly/Subscribe-Free

    Channel graphics by http://JosiahJohnsonStudios.com
    Promotion by http://FinanceAndLiberty.com
     
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Dollar Falls On Fading Trump Euphoria; Sterling Slide Spikes UK Stocks; US Futures Flat

    [​IMG]
    by Tyler Durden
    Jan 10, 2017 6:52 AM

    Global stocks were fractionally lower in early European trading, closed Asia mixed, while S&P futures were unchanged, as the dollar fell for a second day on concerns ahead of Trump's press conference on Wednesday. Oil rebounded after its Monday plunge, while commodity metals like iron ore rose limit up in Chinese trading. Top overnight stories include Valeant announcing the sale of $2.1 billion in assets to pay down debt; VW managers warned to stay in Germany as U.S. charges near; Yahoo! plans to shrink board, get rid of Marissa Meyer and change its name after Verizon deal.

    On Monday, declines in energy and financial stocks weighed on the S&P 500 and helped stall the Dow's pursuit of the 20,000 milestone ahead of earnings season and expected U.S. policy changes under Trump. Weakness spread to the the dollar, which has dipped against the euro and yen as euphoria over Trump policies is now fading, and was 0.15% lower against a basket of six major peers, at 101.62 slipping further from last week's high of 103.82, its highest level since 2002.

    The Bloomberg Dollar Spot Index weakened for the fourth time in five days ahead of the U.S. president-elect’s first news conference since July on Wednesday, and has now lost all YTD gains.

    [​IMG]

    "The market has high expectations for Trump's economic policy; perhaps they are booking profits just in case he throws in a curve-ball at tomorrow's much anticipated press conference," said City Index research director Kathleen Brooks.

    Speaking of Trump's upcoming statement, "the market is increasingly nervous about Donald Trump's press conference on Wednesday. For FX markets, what will be particularly important will be what his plans are for the trade policy, for the relationship with China," said Commerzbank currency strategist Esther Reichelt, in Frankfurt.

    The pound touched its lowest level since Oct. 25 after U.K. Prime Minister Theresa May said over the weekend that negotiations on Brexit will be about “getting the right relationship, not about keeping bits of membership.” A so-called hard Brexit may push the Bank of England to keep rates lower for longer, while weakening the pound and supporting foreign-focused companies in the main stock index. The currency was down 0.2 percent at 1.2153 per dollar Tuesday. As a result of the ongoing plunge in sterling, the FTSE not only hit a new record high, but continued its unbroken pattern of gains, rising for the 11th consecutive session, the longgest winning streak in 33 years.

    [​IMG]

    Oil prices were a touch firmer at $55.11 LCOc1, a day after suffering their biggest one-day loss in six weeks. They fell nearly 4 percent on Monday on fears that record Iraqi crude exports in December, increased supplies from Iran and rising U.S. output would undermine an agreement by exporters to curb production.

    Looking at Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS advanced just 0.5 percent, while Chinese stocks .CSI300 were little changed, largely shrugging off further signs of improvement in the industrial sector. Data showed producer inflation surged to a more-than-five-year high in December as raw materials prices soared.

    This morning in Asian economics, the focus has turned over to the latest inflation report in China. The data has made for slightly mixed reading with CPI printing at +2.1% yoy in December which is down from +2.3% in November and also slightly lower than expected (+2.2% expected) following a slowdown in food price inflation. However, PPI has surged to +5.5% yoy (vs. +4.6% expected) from +3.3% and in doing so has reached the highest level since September 2011.

    [​IMG]

    "Reflation continues in the factory sector," said Julia Wang, an economist at HSBC Holdings Plc in Hong Kong. "The stable CPI suggests that the reflation is confined mostly in the industrial sector and hasn’t filtered into the real economy. So the PBOC would possibly not respond to it until inflation expands to the real economy."

    "Factory reflation is a positive for China’s economy – real borrowing costs are now negative," Bloomberg Intelligence Chief Asia Economist Tom Orlik wrote in a note. "Rate hikes are part of the policy debate again, especially given the need to support a weak yuan."

    "The risk is to the upside for inflation and removes the possibility for near-term policy easing," said Li Wei, the China and Asia economist for Commonwealth Bank of Australia in Sydney.Only four

    months out of a multi-year factory deflation, the world’s second-largest economy is poised to export inflation around the globe through its supply chains as manufacturers squeezed by higher input costs raise asking prices. Whether that rebound will be sustained hinges on how the global economy fares under a Donald Trump presidency and whether trade tensions flare between the U.S. and China.

    In Europe, the Stoxx Europe 600 Index was little changed in London. Miners led European gains after China’s producer price index rose at the fastest pace in more than five years in December. Wm Morrison Supermarkets Plc climbed 4.2 percent in the U.K. after reporting better-than-forecast holiday sales.

    In the US, S&P 500 futures were likewise little changed after closing Friday at an all-time high.

    In rates, Yields on Treasury notes were little changed at 2.37 percent. Mozambique’s dollar bonds due January 2023 plunged to 54.83 cents on the dollar, an all-time low, on bets the nation won’t settle a coupon payment next week. Bonds in core European countries are little changed, while Italy, Spain and Portugal extended gains.

    * * *

    Market Snapshot
    • S&P 500 futures down less than 0.1% to 2264
    • Stoxx 600 down 0.2% to 363
    • FTSE 100 up less than 0.1% to 7245
    • DAX down less than 0.1% to 11559
    • German 10Yr yield up less than 1bp to 0.28%
    • Italian 10Yr yield down 1bp to 1.88%
    • Spanish 10Yr yield down 2bps to 1.45%
    • S&P GSCI Index up 0.6% to 392.7
    • MSCI Asia Pacific up 0.1% to 139
    • Nikkei 225 down 0.8% to 19301
    • Hang Seng up 0.8% to 22745
    • Shanghai Composite down 0.3% to 3162
    • S&P/ASX 200 down 0.8% to 5761
    • US 10-yr yield up less than 1bp to 2.37%
    • Dollar Index down 0.15% to 101.78
    • WTI Crude futures up 0.5% to $52.23
    • Brent Futures up 0.4% to $55.18
    • Gold spot up 0.3% to $1,184
    • Silver spot up 0.3% to $16.61
    Global Headline News
    • Valeant to Sell $2.1 Billion in Assets to Pay Down Debt: L’Oreal to pay $1.3b for skincare three brands; China’s Sanpower to buy Dendreon cancer unit for $820m
    • Alibaba Takes Big Step Offline With $2.6 Billion Intime Deal: Alibaba prices Intime at HK$10/share in take-private deal; deal expands e-commerce giant’s growing physical footprint
    • VW Managers Warned to Stay in Germany as U.S. Charges Near: filing against arrested VW executive points toward superiors
    • Alphabet Said in Talks to Sell Skybox Satellite Business: Planet Labs may buy Skybox and gain new employees from deal
    • Google May Pay EU280m to Settle Tax Probe in Italy: Repubblica
    • Yahoo Plans to Shrink Board, Change Name After Verizon Deal: Marissa Mayer is among six directors who plan to leave board of investment co. that will be left after closing of proposed sale of Yahoo’s main internet properties to Verizon
    • Snapchat Owner Makes U.K. Tax Hub in International Expansion: messaging app maker is adding staff and office space in London
    • Trump’s Son-in-Law Kushner to Take Unpaid White House Role
    • President Obama delivers “farewell address to nation”
    Asian equity markets traded mostly lower following a similar lead from Wall St. where the S&P 500 and DJIA were dragged lower by the energy sector, with the NASDAQ 100 outperforming on Apple's 1% gains. Japanese participants returned from public holiday with a firmer JPY dampening sentiment and leading Nikkei 225 (-0.8%) lower, while losses of over 3.5% in Fast Retailing shares further added to the slump. ASX 200 (-0.8%) snapped its 5-day winning streak and was pulled down by the energy sector after Brent crude futures declined below the 56.00 and 57.00 handles yesterday, however losses have been capped by mining names amid the near 1% rise seen is gold on Monday. In China, markets were mixed as reports that China regulators are looking to loosen restrictions on index futures trading boosted Hang Seng (+0.4%), while Shanghai Comp (-0.3%) took a hit after mostly worse-than-expected Chinese data. 10yr JGBs traded higher on return from Coming of Age holiday amid the risk averse tone in the region, with the yield curve steepening slightly amid outperformance in the super-short end.

    Top Asian News
    • China Factory Prices Rising Fastest in 5 Years: From being a drag on global inflation, China is potential force pushing prices higher
    • India Auto Sales Plunge Most in 16 Years on Modi’s Note Ban:
    European equities are somewhat softer this morning albeit modestly so, with the exception of the FTSE 100 which continues to print fresh record highs amid the persistent fall in GBP. On a sector specific basis, UK grocery names are tracking higher with Morrison's outperforming after reporting their best Christmas sales performance in 7-years, alongside the latest Kantar market share update. Elsewhere, WTI and Brent crude futures are a touch firmer today as oil nations begin to implement their production cuts, with Iraq cutting 160k bbls of the agreed 210k bbls.
    In fixed income markets, this has been a quieter affair with yields largely unchanged while bunds hold above the
    163.00 level. Elsewhere, the German-Spanish 10yr spread has noticeably tightened with the spread now sitting at 117bps.

    Top European News
    • Metro Holiday Sales a ‘Cold Shower’ for Retailer Chasing Growth: co. cites ‘challenging’ market in December quarter; sales at Media-Saturn electronics stores were flat on year
    • Morrison Holiday Sales Beat Ests., Sees FY Pretax Above Ests.: holiday LFL sales ex-fuel up 2.9%, est. up 1.1%
    • Retailers Gain After Better-Than-Expected Morrison Results
    • Europe Left in Cold as Frost Triggers Global LNG Hunt: temperatures in southeast Europe may fall to -12C Tuesday; France, Greece are seeking extra gas supplies to meet demand
    • German Utilities Face Tough Year as Power Rally Set to Stall: companies may be forced to restructure, sell or close units
    In currencies, the Bloomberg Dollar Spot Index dropped 0.1% as of 10:44 a.m. London time, leaving the gauge down 1% since touching a 14-year high on Jan. 3. The pound touched its lowest level since Oct. 25 after U.K. Prime Minister Theresa May said over the weekend that negotiations on Brexit will be about “getting the right relationship, not about keeping bits of membership.” A so-called hard Brexit may push the Bank of England to keep rates lower for longer, while weakening the pound and supporting foreign-focused companies in the main stock index. The currency was down 0.2 percent at 1.2142 per dollar Tuesday. The euro rose 0.1 percent.

    In commodities, West Texas Intermediate crude added 0.3 percent to $52.28 a barrel after sinking 3.8 percent last session as an increase in U.S. drilling offset signs that OPEC members are sticking to planned output cuts. Iron ore futures for May delivery rose 5.5 percent to 580 yuan/ton on Dalian Commodity Exchange, the highest since Dec. 16, following a gain in factory prices in China. Gold advanced 0.3 percent to $1,184.00 an ounce, with demand forecast to rise ahead of Chinese New Year. Zinc rose 2.2 percent to a three-week high of $2725.50 a metric ton on signs that demand for the metal used to produce galvanize steel would increase in China.

    Looking at the day ahead, this morning in Europe the only data due out comes from France where we’ll receive the November industrial and manufacturing production report. Over in the US the early data due out is the NFIB small business optimism survey which surged to 105.8 in December from 98.4. The final November wholesale trade sales and inventories revisions follow that before we then get the November JOLTS job openings report. Away from the data, President Obama is due to deliver a televised farewell speech from Chicago ahead of Trump’s general news conference tomorrow.

    * * *

    US Event Calendar:
    • 6am: NFIB Small Business Optimism, Dec. 105.8, est. 99.5 (prior 98.4)
    • 8:55am: Redbook weekly sales
    • 10am: Wholesale Inventories MoM, Nov. F, est. 0.9% (prior 0.9%)
    • 10am: JOLTS Job Openings, Nov., est. 5,500k (prior 5,534k)
    • 4:30pm: API weekly oil inventories
    US Government:
    • 9:30am: Senate Judiciary Cmte hearing on nomination of Sen. Jeff Sessions, R-Ala., for attorney general
    • 1pm: Senate Intelligence Cmte hearing on Russian intelligence activities
    • 3:30pm: Senate Homeland Security Cmte hearing on nomination of retired Gen. John Kelly for Homeland Security secretary
    • 9pm: President Obama delivers “farewell address to nation”
    * * *

    DB's Jim Reid concludes the overnight wrap

    Although quiet, markets reversed much of Friday’s moves yesterday. The S&P 500 closed -0.35% and 10y Treasury yields ended 5.5bps lower at 2.365%. The Dow also finished the day -0.38% with that elusive 20,000 level for the index still proving to be a tough hurdle to clear. Credit markets also softened a touch (CDX IG +1bp wider) although primary markets continue to surge on with another $10bn pricing in US IG yesterday following the bumper issuance week last week. For the most part you can put the slightly softer tone for risk yesterday down to the -3.76% decline for WTI Oil. Natural Gas also tumbled -5.11% and is down over -16% in 2017 already. Some record export data out of Iraq last month was cited as a trigger for the Oil decline while there was plenty of focus still on the US rig count data with the latest reading revealing that the number of rigs has risen for ten weeks in a row now and to the most since December 2015.

    Meanwhile closer to home the Brexit debate has come back to the forefront. Sterling (-1.01%) tumbled to $1.2163 yesterday and in doing so closed at the lowest level since October 11th.Much of that move occurred early on following PM Theresa May’s interview with Sky News over the weekend in which she highlighted that the UK will not look for piecemeal access to the EU. Chancellor Hammond also spoke yesterday and confirmed that no decision has yet been made on the UK’s trading relationship with the EU and that negotiations may need to include a discussion about what the interim period should look like. On a related topic there’s now the possibility for a snap election in Northern Ireland following the resignation of the deputy first minister yesterday over the handling of a public spending scandal which may well complicate Northern Ireland’s approach to the UK leaving the EU.

    This morning in Asia the focus has turned over to the latest inflation report in China. The data has made for slightly mixed reading with CPI printing at +2.1% yoy in December which is down from +2.3% in November and also slightly lower than expected (+2.2% expected) following a slowdown in food price inflation. However, PPI has surged to +5.5% yoy (vs. +4.6% expected) from +3.3% and in doing so has reached the highest level since September 2011. That continues what has been a remarkable swing in momentum for prices at the factory gate, driven primarily by the mining sector, which turned positive last September following 54 consecutive months of deflation. Markets have been fairly directionless in Asia though this morning. Bourses in China are little changed while the Nikkei (-0.59%), Kospi (-0.16%) and ASX (-0.89%) are lower, however the Hang Seng (+0.20%) has edged slightly higher. Oil is little changed while in FX the offshore RMB (-0.12%) has been a lot more orderly this morning following the volatility over the last week or so.

    In terms of other markets yesterday, it was a similar story in Europe too where the Stoxx 600 finished -0.49% (where weakness for financials also weighed in conjunction with the decline for energy stocks) and the DAX -0.30%. The FTSE 100 (+0.38%) stood out however, boosted by that weakness for Sterling. In rates we also saw 10y Bund yields edge down 2.2bps to 0.272% while yields in the periphery were 7bps to 8bps lower. Meanwhile Gold (+0.72%) extended its strong start to the year along with other precious metals.

    Meanwhile, one interesting story yesterday was the news that Italy’s anti-establishment Five Star Movement had their membership request rebuffed by the pro-business Liberals in the European Parliament. This came after Five Star had voted to break their alliance with the UKIP party in favour of the Alliance of Liberals and Democrats for Europe. The leader of the Alliance of Liberals – former Belgium PM Guy Verhofstadt – said that there was insufficient common ground to proceed with a tie up which appears unsurprising given the Alliance’s staunch support of the EU and shared currency. While Five Star leader Beppe Grillo had put down his decision to try to align with the Liberals to practical reasons, there is also some suggestion that Grillo may have been trying to tone down Five Star’s reputation for Euroscepticism according to the FT.

    Moving on. With regards to the economic data, there wasn’t a huge amount to report of. In the US the sole release was the November consumer credit print which came in much higher than expected ($24.5bn vs. $18.4bn expected) from $16.1bn in the month prior. Revolving credit was reported as jumping by the second most since February 2001. Over in Europe there was good news with the latest Sentix investor confidence reading for the Euro area, with confidence rising 8.2pts in January to 18.2 (vs. 12.8 expected) and to the highest level since August 2015. In Germany industrial production rose +0.4% mom in November which was a little bit below consensus (vs. +0.6% expected) but came following an upwardly revised +0.5% mom in October. In addition, the latest trade data in Germany revealed that exports surged +3.9% mom in November and well ahead of expectations (vs. +0.5% expected). Our economists in Europe noted that the hard data right now in Germany would point to slight upside risks to their Q4 GDP forecast of +0.5% qoq although it’s possible that the December production data will reveal a slowdown as a result of weakness in the auto sector.

    Meanwhile over at the ECB the latest CSPP holdings data was released yesterday. Unsurprisingly the data is heavily impacted by the holiday period however. As of January 6th, total holdings amounted to €51.84bn which implies net purchases settled of just €0.77bn in the week. That is less than half the usual weekly pace but as a reminder only includes trades that settled in the first week of January, with the previous week being the holiday season. Elsewhere, there was a bit more Fedspeak to digest yesterday. The Boston Fed’s Rosengren (who in the past has been considered as a more dovish leaner) opined that “we’re already running the economy a bit hot” and that “we’re at full employment”. As a result he said “a still gradual but somewhat more regular increase in the federal funds rate will be warranted”. Meanwhile the Atlanta Fed’s Lockhart, who is retiring at the end of next month, said that he was more inclined to favour two rate hikes this year, rather than three.

    Before we wrap up, a quick mention that yesterday our House View team published their 2017 outlook. The team notes that the outlook has improved for developed economies as growth momentum has picked up in recent months and risk assets across the board have continued the rally sparked by Trump’s unexpected victory. But far more importantly, they believe that the election of Trump will fundamentally re-order the economic, financial and security arrangements of the post-WW2 era, and believe that these changes will have a significant impact on the economic performance of nations, industries and corporates across the globe.

    Looking at the day ahead, this morning in Europe the only data due out comes from France where we’ll receive the November industrial and manufacturing production report. Over in the US the early data due out is the NFIB small business optimism survey which is expected to show a small increase in optimism in December. The final November wholesale trade sales and inventories revisions follow that before we then get the November JOLTS job openings report. Away from the data, President Obama is due to deliver a televised farewell speech from Chicago ahead of Trump’s general news conference tomorrow.

    http://www.zerohedge.com/news/2017-01-10/
     
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Frontrunning: January 10

    [​IMG]
    by Tyler Durden
    Jan 10, 2017 7:38 AM

    • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
    • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
    • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
    • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
    • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
    • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)
    • Tillerson Must Answer for Trump, Big Oil, Even Putin in Hearing (BBG)
    • China vows to contain corporate debt levels as inflation heats up (Reuters)
    • Iraq forces advance in Mosul but civilian toll mounts (Reuters)
    • Jack Ma Bets $2.6 Billion He Can Revamp China’s Retail Industry (BBG)
    • Toshiba asks creditors not to call in loans: sources (Reuters)
    • Gas Prices Take a Backseat for Auto Makers (WSJ)
    • The World's Best Stock Gains Are in Emerging Markets (BBG)
    • French presidential candidate Fillon says will outline EU plans to Merkel (Reuters)
    • Johnson & Johnson to Report Average U.S. Price Increases (WSJ)
    • Canadian apparel maker Gildan wins auction to buy American Apparel (Reuters)
    • Mass killer Breivik makes Nazi salute at rights appeal case (Reuters)
    • Fund That Made Money on Treasuries Says Rally Is About to End (BBG)
    • Japan’s Takeda Looks to More Acquisitions to Fuel Global Growth (WSJ)

    Overnight Media Digest

    WSJ

    - Jack Ma, the founder and executive chairman of Alibaba Group Holding Ltd, met with Donald Trump for about half an hour on Monday. http://on.wsj.com/2ib28lG

    - China's WeChat saluted Apple Inc on the iPhone's 10th anniversary - just as it unveiled a new app platform that could challenge Apple in the decade to come. http://on.wsj.com/2ib4KA7

    - Islamic militants based in the Middle East used bitcoin and online-payment services such as PayPal to fund terrorist activities in Indonesia, an official with the country's financial-transactions agency said. http://on.wsj.com/2ib1hl7

    - Valeant Pharmaceuticals Inc agreed to sell its Dendreon cancer business to Chinese conglomerate Sanpower for $820 million, part of an effort by the beleaguered drugmaker to unload assets and pare debt. http://on.wsj.com/2ib0WP4

    - Mars Inc. is making a bid to dominate the fast-growing pet-care business with a $7.7 billion purchase of veterinary and dog day-care company VCA Inc. http://on.wsj.com/2iaPm6K

    - Yahoo Inc. said it will whittle down its board after completing its deal with Verizon Communications Inc., and several longtime directors, including Chief Executive Marissa Mayer and co-founder David Filo, will step down as directors. http://on.wsj.com/2iaTHGU


    FT

    Britain can be "better off" after Brexit and Labour is "not wedded to freedom of movement for EU citizens" as a point of principle, opposition leader Jeremy Corbyn will say on Tuesday.

    Spread betting company IG Group Holdings Plc said restrictions on electronic marketing on binary options contracts in France will not damage its business.

    Britain's National Audit Office has urged HM Revenue & Customs to take a hard look its plans for a sweeping restructuring of its offices.

    French oil major Total SA has expanded its stake in Uganda's Lake Albert oil project by snapping up most of Tullow Oil Plc's stake for $900 million, the companies said on Monday.


    NYT

    - Yahoo Inc said on Monday when its $4.8 billion deal to sell internet business to Verizon Communications Inc closes, it would rename itself "Altaba." And that more than half the company's board members - including Chief Executive Marissa Mayer - would step down. http://nyti.ms/2iyGo40

    - Goldman Sachs Group Inc announced on Monday that Elisha Wiesel would become the chief information officer, taking over from Martin Chavez, a prominent executive who pushed to make Goldman more of a forward-looking technology firm. http://nyti.ms/2iyEhx2

    - UnitedHealth Group Inc, one of the largest and most diversified health insurance companies in the United States, said on Monday that it planned to buy Surgical Care Affiliates Inc, a chain of outpatient surgery centers, for about $2.3 billion. The deal is expected to close in the first half of 2017. http://nyti.ms/2iyHVHi

    - McDonald's Corp said on Monday it would sell its businesses in mainland China and Hong Kong for $2.08 billion to Citic Ltd, a state-owned conglomerate, and the Carlyle Group Lp, a private equity firm. http://nyti.ms/2jnN3hu

    - The company that serves as the back end for much Wall Street trading - the Depository Trust and Clearing Corporation, or DTCC - said on Monday it would replace one of its central databases, used by the largest banks in the world, with new software inspired by Bitcoin. The organization, based in New York, plays a role in recording and reporting nearly every stock and bond trade in the United States, as well as most valuable derivatives trades. http://nyti.ms/2jxvMqh


    Canada

    THE GLOBE AND MAIL

    ** Honda Motor Co Ltd will invest more than $408 million to upgrade its Alliston, Ontario, assembly plant, backed by grants from the federal and Ontario governments that will bring total spending on the plant to about $492 million. https://tgam.ca/2iXASJu

    ** Senior executives of Ford Motor Co and Fiat Chrysler Automobiles issued assurances on Monday that they will go ahead with new investments in Canada, despite moves by president-elect Donald Trump to discourage manufacturers from building vehicles outside the U.S. https://tgam.ca/2jyn76Y

    ** After two years of deep cuts in Canada's beleaguered resource sector, Canada's commodity-linked businesses are poised to start investing in expansion in 2017, according to a Bank of Canada survey. https://tgam.ca/2iXxDlk

    NATIONAL POST

    ** The Vancouver-based clothing company Lululemon Athletica Inc improved its lower-end guidance estimates for fourth-quarter net revenue and profit on Monday, predicting at least $775 million of revenue, up from $765 million at from the low end of the previous estimate. http://bit.ly/2iXygLy

    ** Canadian REITs will see "high single digits and low double digit" growth next year, as robust demand in the East and a strong retail sector are offset by an office glut in Calgary, according to a new report from Timbercreek Asset Management. http://bit.ly/2iXxhuH


    Britain

    The Times

    * The chief executive of Bovis Homes has resigned less than two weeks after issuing a surprise profits warning. David Ritchie, who has worked for the company for 18 years and been chief executive for eight, insisted that it was his decision to leave. http://bit.ly/2jmPdhD

    * Foreign minister Boris Johnson held "positive but frank" talks with some of U.S. President-elect Donald Trump's closest advisers in Trump Tower in the first formal meeting between members of the incoming U.S. administration and a British minister. http://bit.ly/2ixJfdJ

    The Guardian

    * Rolls-Royce Motor Cars has vowed not to turn its back on UK amid concerns that firms could shift their headquarters overseas in response to the Brexit vote. http://bit.ly/2icbWPu

    * In a letter to a group of European Union (EU) citizens from the office of the home secretary, Amber Rudd, the government said it "recognises that EU nationals make an invaluable contribution to our economy and society". http://bit.ly/2j1yOCN

    The Telegraph

    * Tullow Oil had sold two-thirds of its stake in Uganda's first ever oil development to its partner, French oil major Total, for $900 million on Monday. http://bit.ly/2iWG6VF

    * Tesco, Britain's biggest retailer, is shutting two of its UK distribution centres in a move that will create more than 1,000 redundancies at the supermarket chain. The decision would result in around 1,015 redundancies although it was looking to create 533 new roles. http://bit.ly/2ixCRD4

    Sky News

    * Formula One teams which buy shares in the sport's holding company will be forced to retain them for at least a decade as part of a deal engineered by its prospective new owners. http://bit.ly/2jaBuea

    * Continued access to Europe's single market after UK leaves EU must be preserved under a priority deal for the financial services sector, according to a report commissioned by scores of leading City firms. http://bit.ly/2juQmru

    The Independent

    * Labour leader Jeremy Corbyn has abandoned his outright support for the continued free movement of EU citizens, saying he now wants "reasonably managed migration". http://ind.pn/2iWotFn

    http://www.zerohedge.com/news/2017-01-10/frontrunning-january-10
     
  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  25. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    $100 Silver - When? | Bill Murphy
    FinanceAndLiberty.com



    Published on Jan 9, 2017
    Bill Murphy from the Gold Anti-Trust Action Committee predicts new highs coming for gold and silver in 2017. Murphy is especially bullish on silver. He predicts that once silver breaks through $21/oz, the gold cartel will start to lose control, and silver will be on a volatile ride toward $100/oz.

    FINANCE AND LIBERTY:
    SUBSCRIBE (It's FREE!) for more ►http://bit.ly/Subscription-Link
    Website ►http://FinanceAndLiberty.com
    Like us on Facebook ►http://fb.com/FinanceAndLiberty
    Follow us on Twitter ►http://twitter.com/Finance_Liberty
    Google Plus ►http://Gplus.to/FinanceLiberty

    DISCLAIMER: The financial and political opinions expressed in this video are not necessarily of "Finance and Liberty" or its staff. Opinions expressed in this video do not constitute personalized investment advice and should not be relied on for making investment decisions.
     
  26. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  27. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Asian Metals Market Update: Jan-10-2017
    By: Chintan Karnani, Insignia Consultants
    The US dollar’s fall is profit taking before Trump’s swearing in which if it continues till Thursday can result in a technical breakdown. Weakness in the US dollar resulted in the rise of gold, silver and industrial metals. Crude oil fell as traders assessed supply side pressures for the rest of the quarter. Natural gas also had a technical knock down.
     
  28. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Mornings with "V" & CJ - 20,000 Leagues Under The Deep State (01/10/2017)
    Rogue Money



    Streamed live 5 hours ago
     
  29. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  30. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Dollar Rises Before Trump Press Conference; Futures Flat, Turkish Lira Plunges

    [​IMG]
    by Tyler Durden
    Jan 11, 2017 6:35 AM


    European and Asian shares, the dollar and crude all rose before President-elect Donald Trump’s first press conference since July at 11am on Wednesday, while S&P futures are little changed. Surging raw-materials stocks sent Asian stocks higher. Oil rebounds from the lowest level in a month.

    In a session light on economic news, all eyes will be on Trump's press conference scheduled for 11 am: while Trump's election campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions. Trump has vowed to label China a currency manipulator on his first day in office on Jan. 20 and has threatened to slap huge tariffs on imports from China. Paul Ryan and top members of Trump's transition team are discussing a controversial plan to tax imports. Economists have warned that protectionist measures could stifle international trade and hurt global growth. That brings Trump's press conference into sharp focus.

    Ahead of this markets have been fairly reluctant to lay on any big bets this week heading into today’s main event. Indeed it’s been another fairly quiet 24 hours on the whole. Look no further than the S&P 500 which closed completely unchanged last night after wiping out some early modest gains. Sector wise gains for financials and health care stocks were balanced out by losses across energy stocks and real estate

    So with that out of the way, here are the session highlights so far:
    1. Dollar pushes higher ahead of Trump press conference
    2. Oil prices edge higher ahead of U.S. inventory data
    3. U.S. stock futures point to flat open on Wall Street
    4. Turkish lira hits fresh record lows
    5. Gold hits fresh 6-week high before Trump appearance
    "From a currency perspective, markets will aim to get a clearer picture on trade, fiscal stimulus and the new administration’s relationship to the Fed," Morgan Stanley strategists wrote in a note to clients.

    “There’s quite a lot of positioning that Trump delivers at least part of the stimulus he promises,” said Christopher Jeffery, asset allocation strategist at Legal & General Investment Management in London, who has recently adopted neutral weighting on the dollar from a more-bullish stance. “We worry that positioning has become stretched and that he doesn’t deliver.”

    In early trading, Europe opened lower only to post a modest rebound, as the Stoxx Europe 600 Index added 0.2% while after sliding -0.3%, while the U.K.’s FTSE 100 Index rose 0.1 percent as a result of the latest drop in sterling, climbing for a 12th day. If the move holds, it would be the gauge’s longest rising streak on record. The pound briefly dropped below $1.21 for the first time since October, even as reports show industrial and manufacturing production grew at a faster pace than analysts forecasts.

    As sterling fell, the dollar rose, and the Bloomberg Dollar Spot Index gained 0.2 percent as of 11:00 a.m. in London.

    In other notable currency moves, the plunge in Turkey’s lira continued again this morning, tumbling nearly 2% against the dollar to new all time lows after data showed a worsening in the country’s current account deficit and investors took no comfort in the central bank’s latest move to shore up the currency. The lira traded at an all-time low of TRY3.8925 against the dollar after November’s current account figures showed a $590m deterioration in the deficit as the FT notes, heaping further pressure on a slowing economy suffering from sharp drops in tourist revenue. Today’s renewed lira selling follows the central bank’s attempt to put a floor on the currency by freeing up liquidity in the foreign exchange market. However, as we expected, yesterday’s announcement to tweak banks’ FX reserve requirements has done nothing stop investors dumping the currency.

    [​IMG]

    S&P 500 Index futures edged higher, reversing declines over the week’s first two days.

    Commodities rebounded despite the dollar strength, with West Texas Intermediate rebounding from its lowest level in a month, up 0.9% to $52.16 a barrel. Iron ore futures jumped 3 percent in China after a 5.5 percent rally on Tuesday. Gold was little changed. Uranium surged the most in more than three weeks as Kazakhstan said it will reduce production by 10 percent this year after prices slumped in 2016 amid a global inventory glut. Copper held near the highest closing price in nearly a month on the outlook for tighter supply following Indonesia’s signing of new mineral export regulations and miners’ wage negotiations in Chile. U.S. natural gas fell 1.8 percent, paring its biggest gain in three weeks following forecasts of below-average temperatures.

    * * *

    Bulletin headline summary from RanSquawk
    • European equities trade modestly higher with participants very much awaiting today's press conference from President-elect Trump
    • Once again we are left watching GBP taking another beating, with the Cable rate pushed down to 1.2100
    • Highlights include DoE crude oil inventories, comments from BoE's Carney and press conference from President-Elect Trump
    Market Snapshot
    • S&P 500 futures up less than 0.1% to 2265
    • Stoxx 600 up 0.2% to 365
    • FTSE 100 up 0.2% to 7289
    • DAX up 0.2% to 11609
    • German 10Yr yield up 8bps to 0.36%
    • Italian 10Yr yield up less than 1bp to 1.92%
    • Spanish 10Yr yield down 2bps to 1.46%
    • S&P GSCI Index up 0.6% to 391.2
    • MSCI Asia Pacific up 0.2% to 140
    • Nikkei 225 up 0.3% to 19365
    • Hang Seng up 0.8% to 22935
    • Shanghai Composite down 0.8% to 3137
    • S&P/ASX 200 up 0.2% to 5771
    • US 10-yr yield up 1bp to 2.39%
    • Dollar Index up 0.27% to 102.29
    • WTI Crude futures up 0.7% to $51.20
    • Brent Futures up 0.9% to $54.11
    • Gold spot up less than 0.1% to $1,189
    • Silver spot up 0.1% to $16.81
    Top Global News
    • Trump Said to Be Told of Unverified Russian Intelligence Plot: U.S. spy agencies told Obama and president-elect about scheme
    • Ex-Head of Russia’s FSB Says No Dirt Collected on Trump: IFX
    • Tillerson to Call Russia ‘a Danger’ in Confirmation Testimony
    • President-Elect Trump to hold news conference to discuss business ventures, potential conflicts of interest
    • Ford to Pay $200 Million Cash on Top of Regular Dividend: payment a show of confidence even as co. enters a year planning expensive investments in electric and autonomous vehicles
    • Tesla’s Autopilot Head Said to Depart as Apple Engineer Hired: Sterling Anderson leaves car company’s autonomous driving post, Chris Lattner, who led Apple’s Swift development, joins Tesla
    • VW Board Set to Sign Off on $4.3 Billion U.S. Diesel Penalty: settlement sends crisis cost above $19.2 billion set aside; U.S. Justice Department deal includes VW guilty plea
    • Warburg Said to Be Forming Consortium to Bid for Singapore’s GLP: Warburg Pincus talking to banks, potential bidding partners
    • U.S. May Be Probing Other Targets in Former Autonomy CFO’s Case: former Autonomy CFO Hussain set to appear in U.S. court for first time
    • Airbus Retains Order Lead Over Boeing Over Late Sales Windfall: European co. booked 320 aircraft puchases in Dec.; delivery tally beat target by 18 planes as A350 pinch eased
    Looking at regional markets, Asian stocks traded mostly higher to shake off a mixed US close where the energy sector dragged the DJIA lower. ASX 200 (+0.2%) traded in the green and was boosted by the materials and mining sector after Dalian iron ore rose 8% yesterday. Nikkei 225 (+0.3%) was positive as exporters benefited from recent JPY weakness as USD/JPY reclaimed the 116.00 handle, while Sony (+3.5%) shares post over 3% gains for the second consecutive day. In China, markets were mixed as Shanghai Comp (-0.6%) suffered amid the PBoC conducting yet another weak liquidity operation, while Hang Seng (+0.7%) outperformed and was lifted by positive earnings from a number of properties names. Finally, 10yr JGBs traded marginally higher after the 30yr auction showed a better than prior bid-to-cover, while there was some underperformance seen in the long end of the curve.

    Top Asian News
    • Singapore’s Garena Said to Pick Goldman for $1 Billion IPO: Most valuable Southeast Asian startup considering U.S. listing
    • Samsung’s Lee Summoned in Bribery Probe, Prosecutors Say: Appearance set for 9:30 a.m. local time Thursday
    • Indonesia Orders Bond Dealers to Uphold Country’s Interest: Bond dealers asked to maintain professionalism, integrity
    • Analyst Who Foresaw Yen Fall Sees More Pain as 125 in Sight: Expects the Federal Reserve to raise rates three times
    European equities trade modestly higher so far this morning, with slight outperformance seen in the FTSE 100 (+0.2%). UK indices were supported by the latest earnings update from Sainsbury's, which followed the trend set by Morrison's earlier in the week with their impressive report. Elsewhere, focus will remain on the UK housing sector after Foxtons trade lower by around 6% in the wake of their pre-market update. Elsewhere, on a sector specific basis energy and material names are among the laggards, with pharmaceuticals also seeing softness. Fixed income markets continue to see Bunds trade in a relatively tight range, as has been the case throughout the week so far. As such, the German benchmark trades marginally above the 163 level, at the upper end of the aforementioned range.

    Top European News
    • U.K. Industrial Output Rises More Than Forecast on Oil, Gas: gause rose more than forecast in November, led by a surge in oil and gas as a major North Sea field resumed operations
    • Sainsbury’s Sales Beat Estimates as Grocers Get Christmas Boost: holiday sales growth at Argos chain confounds skeptics; shares advance as much as 7.1%, most since January last year
    • Bouygues Gets $1.8 Billion Hinkley Nuclear Plant Contract: French contractor to work with U.K. builder Laing O’Rourke
    • Defense Supplier Cobham Drops as Profit Falls Short, Debt Rises: U.K. aerospace parts maker cites delays in Boeing KC-46 tanker; shares fall 21% after Cobham cancels final dividend
    In currencies, the Bloomberg Dollar Spot Index, a gauge of the greenback against 10 major peers, gained 0.2 percent as of 10:58 a.m. in London. Turkey’s lira slumped 1.7 percent, retreating for a fifth day as investors awaited signs the central bank will support the currency. Once again we are left watching GBP taking another beating, with the Cable rate pushed down to 1.2100 to record new cycle lows in the wake of the production and trade data this morning. Both the Nov manufacturing and industrial numbers beat on expectations, but the trade deficit widened on all counts to give GBP bears the ammunition to spark off another sell off. The USD rate is particularly vulnerable going forward, as ahead of the Trump press conference this evening, we are seeing the greenback gaining some traction again, just as many were expecting a little caution/moderation ahead of this, and indeed the inauguration next week. USD/JPY is again leading the way as dip buyers ahead of 115.00 have been plenty this week, but plenty more wood to chop on the upside before we can get comfortable again, as EUR/USD sales continue to run into demand on the way down. Support seen ahead of 1.0500 but stronger levels seen into the mid 1.0400's. USD/CHF is testing 1.0200 again, but the commodity currencies are giving up little ground as AUD stays in touch with .7400 up top.

    In commodities, West Texas Intermediate crude advanced 0.9 percent to $52.16 a barrel. Iron ore futures jumped 3 percent in China after a 5.5 percent rally on Tuesday. Gold was little changed. Uranium surged the most in more than three weeks as Kazakhstan said it will reduce production by 10 percent this year after prices slumped in 2016 amid a global inventory glut. Copper held near the highest closing price in nearly a month on the outlook for tighter supply following Indonesia’s signing of new mineral export regulations and miners’ wage negotiations in Chile. U.S. natural gas fell 1.8 percent, paring its biggest gain in three weeks following forecasts of below-average temperatures.

    In terms of the day ahead, clearly all eyes will be on President-elect Trump’s news conference this afternoon. In fairness the calendar is fairly light anyway with just UK trade data and the industrial and manufacturing production reports for November due out this morning. BoE Governor Carney is also scheduled to speak this afternoon at 2.15pm GMT when he is set to testify before the UK parliament’s Treasury Select Committee while the NY Fed’s Dudley is due to speak at 6.20pm GMT.

    * * *

    US Event Calendar
    • 7am: MBA Mortgage Applications, Jan. 6 (prior 0.1%)
    • 10:30am: DOE Energy Inventories
    • 1:20pm: Fed’s Dudley Speaks on Bank Culture in New York
    US Government agenda
    • 9am: U.S. Chamber of Commerce CEO Thomas Donohue and group’s chief policy officer, Neil Bradley, deliver annual “State of American Business” address
    • 9:15am: Senate Foreign Relations hearing on nomination of former Exxon Mobil CEO Rex Tillerson for sec. of state
    • 9:30am: Senate Judiciary Cmte second hearing on Sen. Jeff Sessions’ nomination for attorney general
    • 10:15am: Senate Commerce, Science and Transportation Cmte hearing on nomination of Elaine Chao for transportation secretary
    • 11am: President-Elect Trump to hold news conference to discuss business ventures, potential conflicts of interest
    DB's Jim Reid concludes the overnight wrap

    President-elect Trump's first news conference since the summer kicks off at 11am ET time/4pm GMT and if his recent tweets are anything to go by it promises to be a lively affair.

    Mr Trump passed the acceptance speech test with flying colours back on election day with a gracious rehearsed speech. This is likely to be a more confrontational event and much of the world will be keen to see a) how he handles it and b) whether he fleshes out the desired direction of policy. I really can't see it being a non-event even if I've no idea what he'll say. In fact everything appears to be open for discussion but markets will likely be most interested in what he says about the comprehensive tax reform, foreign policy and border taxes in particular. In addition, after Trump urged congressional Republicans to repeal Obamacare immediately yesterday and vote on a replacement bill within weeks, expect that to also be a topical subject. On top of this the overnight press is dominated by a CNN report which suggests that US intelligence officers presented Trump with classified documents last week including allegations that operatives in Russia claim to have unverified compromising financial and personal information about Trump. So it should be interesting.

    Ahead of this markets have been fairly reluctant to lay on any big bets this week heading into today’s main event. Indeed it’s been another fairly quiet 24 hours on the whole. Look no further than the S&P 500 which closed completely unchanged last night after wiping out some early modest gains. Sector wise gains for financials and health care stocks were balanced out by losses across energy stocks and real estate. Prior to this in Europe the Stoxx 600 (+0.11%) closed a touch firmer but again it wasn’t anything to get too excited about. One market which continues to surge on though is the FTSE 100 which yesterday closed up another +0.52%. In doing so it not only notched up its 9th consecutive fresh record high – the longest such run – but also took its run of consecutive daily gains to 11 which is a feat matched on only three other occasions, those coming in 2009, 2004 and 1997. In total return terms over those 11 days the FTSE 100 has notched +3.37% with the latest leg lower for Sterling (-1.48% in the same period) a big driving force. Indeed in US Dollar terms the return over that time is a more modest +1.83%. Refreshing our performance charts quickly, with the Pound now down -18.20% since the Brexit vote the FTSE 100 has now delivered a +16.80% total return in Sterling terms but a -4.45% total return in US Dollar terms.

    Meanwhile commodity markets continue to pull in different directions. WTI Oil dipped another -2.19% yesterday and finished below $51/bbl having closed at $54/bbl on Friday. That’s despite there not really being any new news with the market still seemingly focused on the supply story in the US. On the other hand Gold was up another +0.72% yesterday along with decent gains for other precious metals, while iron ore (+2.19%), copper (+2.99%) and zinc (+1.99%) also continue to hover around recent highs after getting a boost from the huge increase in China producer price inflation yesterday. Rates markets, meanwhile, were a touch weaker if anything with 10y Treasury yields edging up 1.1bps to 2.377%. The Greenback (+0.10%) ended a touch firmer.

    This morning in Asia, with the exception of China the mood is generally positive. The Nikkei (+0.36%), Hang Seng (+0.66%), Kospi (+1.45%) and ASX (+0.23%) are all up, largely led by anything commodity linked, while the Shanghai Comp (-0.53%) is currently in the red. US equity index futures are little changed while bond markets have been quiet.

    Moving on. While markets weren’t particularly thrilling yesterday there was at least some interest in the data. Specifically it was the NFIB small business optimism survey in the US which turned a few heads after the index surged 7.4pts in December to 105.8 (vs. 99.5 expected). That is actually the largest one-month gain ever for the index and puts the index at the highest level since December 2004. The gain was mostly reflected in the economic outlook index which rose a whopping 38pts. Our US economists noted that the since the NFIB data are highly correlated with the broader economy, which makes sense given that small and medium sized business account for nearly 80% of the labour market, the recent upshift in the NFIB strongly suggests that 2017 real GDP growth may be even better than their well-above consensus 3% forecast. In terms of the other data, JOLTS job openings pointed to a steady hiring and quits rate in November (3.6% and 2.1% respectively while wholesale inventories were revised up one-tenth to +1.0% mom in November versus the initial estimate. In Europe the only data came from France where industrial production was reported as jumping a much better than expected +2.2% mom in November (vs. +0.6% expected). Finally before we wrap up, yesterday we also got the announcement that Richmond Fed President, Jeffrey Lacker, is to retire on October 1st and so step down from his role at the Fed. The news is notable given that Lacker has been one of the more, if not the most, hawkish Fed officials in recent years.

    In terms of the day ahead, clearly all eyes will be on President-elect Trump’s news conference this afternoon. In fairness the calendar is fairly light anyway with just UK trade data and the industrial and manufacturing production reports for November due out this morning. BoE Governor Carney is also scheduled to speak this afternoon at 2.15pm GMT when he is set to testify before the UK parliament’s Treasury Select Committee while the NY Fed’s Dudley is due to speak at 6.20pm GMT.

    http://www.zerohedge.com/news/2017-01-11/
     
  31. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Frontrunning: January 11

    [​IMG]
    by Tyler Durden
    Jan 11, 2017 7:55 AM

    • Russia likely main topic in Trump's first news conference since election (Reuters)
    • Russia Denies Report It Has Compromising Material on Trump (BBG)
    • For Russia, U.S. election meddling claims strip Trump win of luster (Reuters)
    • Obama Urges Unity in Farewell Speech (WSJ)
    • 1930s-like Demographic Pressures Holding Back U.S. Economy (BBG)
    • Chinese bomber flies around contested Spratlys in show of force: U.S. official (Reuters)
    • Tillerson to Call Russia a ‘Danger’ in Confirmation Hearing (BBG)
    • Kelly Distances Himself From Trump Over Border Wall, Russia (BBG)
    • Justice Department Hasn’t Found Evidence to Bring Antitrust Case Against Airlines (WSJ)
    • In China, Insurers Sell Risky Products to Fund Risky Investments (WSJ)
    • Uber signs deal with Dubai regulator after pricing rows (Reuters)
    • Why the Lira’s in Trouble: 2017’s Worst Performer in Charts (BBG)
    • Northern Ireland will still have say in Brexit preparations: PM May (Reuters)
    • Suddenly, Home Sale Agreements Are Falling Apart Across the U.S. (BBG)
    • A Pileup in U.S. Motor Vehicle Inventories (WSJ)
    • Relatives' U.S. bribery case rains on ex-U.N. chief's homecoming (Reuters)
    • ‘Chicken Tax’ Surfaces in Talk of Auto Tariffs (WSJ)
    • Trump Tax Cut Could Add $8.2 Billion to Reynolds Price Tag (BBG)
    • Italy’s New Prime Minister in Intensive Care After Surgery (WSJ)
    • Lebanese Leader Reaches Out to Saudi Arabia in Search of Aid (WSJ)
    • From Brexit to Trump, Polarization Heightens Risk, WEF Says (BBG)

    Overnight media Digest

    WSJ

    - Volkswagen AG is expected to agree to plead guilty to criminal wrongdoing and pay a $4.3 billion penalty to resolve a U.S. Justice Department probe of its diesel-emissions cheating. http://on.wsj.com/2iZN3Wf

    - Wal Mart Stores Inc is preparing to cut nearly 1,000 corporate jobs before the end of the month, according to an executive familiar with the situation as the company shifts its focus to e-commerce. http://on.wsj.com/2iZEYk9

    - Alibaba Group Holding Ltd said it would take China's Intime Retail Group Co Ltd private in a $2.6 billion deal in a bid to extend its online dominance into -physical stores. http://on.wsj.com/2iZNHD9

    - Valeant Pharmaceuticals International Inc reached deals to sell $2.1 billion in assets, the struggling drug maker's biggest moves yet to refocus around its consumer offerings and pare its heavy debt load. http://on.wsj.com/2iZSYKR

    FT

    Volkswagen AG said on Tuesday it has negotiated a $4.3 billion draft settlement with U.S. regulators to resolve its diesel emissions troubles and plans to plead guilty to criminal misconduct.

    Britain's Financial Reporting Council is asking the government for greater oversight powers to tackle corporate governance issues in its annual report published on Wednesday on corporate culture against what it called a "backdrop of falling public trust in business."

    Income inequality in Britain narrowed in the 2015-16 financial year as poorer families got help from low inflation and retirees gained from generous pensions, but many people of working age lost out, official data showed on Tuesday.

    Chinese investors spent four times as much on acquisitions in the European Union last year as European companies did in China, according to a report by research firm Rhodium Group.

    Italian police arrested two siblings on Tuesday for hacking into the emails of European Central Bank President Mario Draghi, former prime minister Matteo Renzi and thousands of others.


    NYT

    - Volkswagen AG is on the verge of pleading guilty to criminal charges and paying $4.3 billion in fines, in a deal that would resolve a federal criminal investigation into its cheating on vehicle emissions tests, the automaker said on Tuesday. http://nyti.ms/2jtdNNH

    - The publisher of The Daily Mirror, a left-wing British tabloid, said on Tuesday it was in early-stage talks to acquire a minority stake in a new company that would include assets of the Northern & Shell Media Group, which publishes two rival right-wing tabloids, The Daily Express and The Daily Star. http://nyti.ms/2j64abm

    - Alibaba Group Holding Ltd is pushing further into the very sector that it helped to disrupt with a $2.6 billion bid for Intime Retail Group Co Ltd, a department store and mall operator in China. Alibaba, a Chinese e-commerce behemoth, already owned 28 percent of Intime, which is listed in Hong Kong, and made an offer with Shen Guo Jun, the founder of the department store chain, to take the company private. http://nyti.ms/2j66u27

    - Mark Zuckerberg and Priscilla Chan have hired a top political operative to lead the next phase of their philanthropic work at the Chan Zuckerberg Initiative, the limited liability company they set up in 2015 to conduct charitable efforts. David Plouffe, who managed Barack Obama's 2008 presidential campaign and is chief adviser and a board member at Uber, is leaving the ride-hailing company to join the Chan Zuckerberg Initiative as president of policy and advocacy. http://nyti.ms/2jtfiLE

    - John Carlin, who was the Justice Department's top national security lawyer, has moved to the law firm Morrison & Foerster to lead its global risk and crisis management practice, the firm announced on Tuesday. http://nyti.ms/2iDPU6a


    Canada

    THE GLOBE AND MAIL

    ** Canada's vast network of bank branches will shrink in 2017, with dozens of locations closing as institutions cut costs and invest billions in technology as more customers migrate online. https://tgam.ca/2iF5uOY

    ** The National Energy Board of Canada has officially appointed three new members to a panel that will restart the stalled review of the proposed Energy East pipeline. The new three-member panel will be headed by Don Ferguson, a former senior civil servant in New Brunswick. https://tgam.ca/2jzkP7P

    NATIONAL POST

    ** An eventual increase in Canadian interest rates is not expected to lead to a spike in mortgage book losses for Canada's banks, Royal Bank of Canada Chief Executive Dave McKay told investors on Tuesday. http://bit.ly/2ifruPc

    ** Canadian Securities Administrators are calling for public input on a proposal to prohibit embedded commissions and trailer fees in investment funds, the strongest indication in a years-long process that an outright ban is on the table. http://bit.ly/2ift2ZP


    Britain

    The Times

    * Labour leader Jeremy Corbyn has called for a maximum wage to be imposed on Britain's highest earners as he tries to relaunch his leadership. http://bit.ly/2jsaI0m

    * A tourist tax on hotels to help pay for local services is being considered by Bath council, which is lobbying the government to allow local authorities to introduce the charge. http://bit.ly/2jAYeYn

    The Guardian

    * Theresa May is facing questions about her financial interests after it emerged she set up a blind trust arrangement when she became prime minister. http://bit.ly/2j5t4b7

    * UK's ambassador to France has said his embassy will not be forging links with far-right French presidential candidate Marine Le Pen because the UK government has a policy of not engaging with her party, the Front National. http://bit.ly/2j5t0Ik

    The Telegraph

    * A former editor of the News of the World, David Montgomery, has emerged as the potential buyer of the Daily Express and Daily Star newspapers, in a complicated deal with their current owner Richard Desmond that could also see Trinity Mirror take a minority stake. http://bit.ly/2iCGcRC

    * Britain's Post Office is to close and seek franchise partners for 37 of its Crown branches, threatening 290 jobs as well as 127 financial specialist staff. http://bit.ly/2jga2vH

    Sky News

    * Snap Inc, the owner of messaging app Snapchat, has confirmed it will make the UK its main hub outside the United States. http://bit.ly/2idQB8s

    * Fresh from his trip to the United States to meet with key members of President-elect Donald Trump's team, foreign minister Boris Johnson told members of parliament there was a "huge fund of goodwill" for the UK on Capitol Hill. http://bit.ly/2iyZUxg

    The Independent

    * The chief executive of the London Stock Exchange has warned that the UK's vote to leave the European Union poses a risk to the global financial system and could cost the City of London up to 10,000 jobs if the government fails to provide a clear plan for post-Brexit operations. http://ind.pn/2j0DNmE

    http://www.zerohedge.com/news/2017-01-11/frontrunning-january-11
     
  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  33. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Prince Owned Land and Gold Bars Worth $800,000
    By: GoldCore
    At the time of his death, Prince had taken delivery of and had in his possession 67 gold bars, 10 ounce gold bars, valued at $836,166.70. That’s according to an asset inventory compiled by Bremer Trust released by the Carver County District Court, as first reported by the Minneapolis Star Tribune. The release inventory showed that the “Purple Rain” singer had no stocks, bonds, or other financial assets, but did have a substantial amount of land, property, cash and gold bars.

    Gold and Silver Market Morning: Jan 11 2017 - Shanghai taking gold higher!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
    If Shanghai is leading the way for the gold price, we would expect London and New York to rise too. Consequently, the gold price needs to move to $1,200 for it to be in line with Shanghai now. Shanghai on Tuesday was $13 higher than the close of New York. This morning London opened only $10.59 lower than yesterday’s Shanghai closing. And this strength in gold is happening while the dollar is rising and the Yuan slipping slightly
     
  34. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  35. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
  36. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    10,090
    Likes Received:
    15,319
    Trophy Points:
    113
    Location:
    ORYGUN
    http://pricedingold.com/2017/01/08/the-dow-from-1000-to-20000/

    January 8, 2017

    The Dow from 1,000 to 20,000

    I have been hearing a lot about the Dow Jones flirting with the 20,000 level this week. In fact, on Friday it hit 19,999.63 during the day, but fell back to close at 19,963.80. I'm pretty confident we will eventually see this benchmark reached and surpassed, as we have seen many others in the past: 1,000 in 1972, 5,000 in 1995, 10,000 in 1999, 15,000 in 2013, and so on. The problem with all these "magic levels", and indeed with all USD prices in general, is that they do not use a consistent unit of measure. $1 in 1972 bought a whole lot more gold, silver, oil, gasoline, bread, eggs, taxi fare, or almost anything than $1 did in 1999 or $1 does today. The "Five and Dime" that I grew up with is now the "Dollar Store".

    This blog is about gold as a standard of value. Not because gold is perfect, but because it has stood the test of time, both as cash money and as a measure of value, for thousands of years – while hundreds of other currency systems have come and gone. And until 1971, it still underpinned the US Dollar itself, and through the Bretton Woods agreements, it indirectly underpinned all other government-issued currencies as well. After that point, all currencies were cut loose from gold and floated freely against one another, but more importantly, the last tie between money and real stuff was cut, and governments and central banks were finally free to create as much currency as they wanted – without ever having to worry about how they would redeem it for something real.

    Certainly the years leading up to 1972 and the Dow breaking the 1,000 barrier were full of ups and downs, but they were real booms and crashes. From 64 in 1921 to 381 in 1929, and back down again into the depths of the Great Depression, for example. Not until 1954 was the 1929 high seen again. And due to the 40% devaluation of the Dollar in 1933, the Dow would not recover its 1929 gold value peak until 1959.

    Breaking the 1,000 barrier in November of 1972 was an emotional moment for traders on the floor and investors around the world. It seemed to mark a new era of prosperity, even as, behind the scenes, inflation and recession were preparing to set in. At that time, Dow 1,000 USD meant Dow 482 grams of gold, and through the rest of 1972, the Dow traded between 480 and 500 grams. But early in 1973, things started to come unglued: stock values were falling, but the Dollars used to quote those prices were falling as well (gold prices were rising) eventually pushing the Dow down to an all-time low of 37 grams in 1980. Stocks recovered their value much faster than did the depreciated Dollars. By the time the Dow had regained the 1,000 USD level in 1982, it was still worth only 80 grams of gold.

    But stocks, and the economy in general, were on the march… in fact, from those lows in 1980, the largest bull market ever seen was underway. When the Dow hit 5,000 USD in 1995, it was trading for 408 grams – still not recovered to its 1972 value of 482, but more than 10 times its value at the lows of 1980. And by late 1996, it had passed the 500 gram level and was heading for the sky.

    And despite a few stumbles, it crossed the 10,000 USD threshold in March of 1999, at 1110 grams of gold, and went on the peak at 11,326 USD, or 1393 grams of gold in August of 1999. As the tech bubble popped, and the plunge protection team pulled out all the monetary stops, stocks once again were falling just as Dollars were also losing value. And all the way down, even when the Dow was rising in USD terms, the value of the USD was falling even faster: the Dow peak of 14,165 in 2007 was worth 600 grams, and at the bottom, in August of 2011, the Dow was worth only 180 grams, and trading for 10,855 USD.

    From there, we have been in an amazing bull market, both in stocks, and in the US Dollar. This has pushed the Dow to almost 20,000, and brought its gold value back to about 530 grams – far above the 2011 low, but only 10% above its gold value when it first crossed the 1,000 USD threshold in 1972.

    An important question going forward is whether we are now following the trajectory of the early 1980s (on our way to the moon again) or if we are instead channeling the spirit of 1974 to 1977 (a major bear market rally, on our way to a retest of all-time lows). Keep reading these pages to see how this story turns out! But keep in mind that despite today's sky high USD valuation, the gold value of the Dow is roughly the same as it was back in 1972, when it was quoted at 1,000 Dollars for the first time.

    [​IMG]


     
    searcher likes this.
  37. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Mornings with "V" & CJ - Cutting Down George Soros & Ending The 5th Column (01/11/2017)
    Rogue Money



    Streamed live 2 hours ago
    George Soros, US Intelligence Agencies, Fort Lauderdale, S&P and 2016 Index Funds - All of this and more on today's Mornings with "V" and CJ!
     
  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Rick Rule-US Will Devalue Debt and Devalue Dollar
    Greg Hunter



    Published on Jan 10, 2017
    Resource investment expert Rick Rule is asking one very important question about a mountain of U.S. debt? Rule asks, “How on earth are we going to resolve $120 trillion on balance sheet and off balance sheet liabilities before we consider state and local debt and underfunded pensions? My suspicion is we get out of this in one of two kinds of defaults. A formal default where . . . they say to 64 year old Rick Rule that we made you promises on Social Security, Medicare and Medicaid, but we lied. We say to holders of U.S. debt where we gave a full faith and credit promise that we lied. Those are official defaults. That requires telling the truth, and I think that is unlikely. I think we will have a series of unofficial defaults where we devalue the net present value of the obligations, which is a different way of saying we devalue the . . . currency, gradually like we did in the 1970’s. I think that will have the same impact on gold and silver prices.”

    On the best thing President-elect Trump can do for America, Rule contends, “If Mr. Trump can roll back restrictive regulation in the United States, we are our own greatest enemy. If he can make the United States great again in the sense he keeps us from competing with ourselves, then we will see a spectacular economic boom in this country.”

    Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Rick Rule, President and CEO of Sprott U.S. Holdings Inc.

    All links can be found on USAWatchdog.com: http://usawatchdog.com/banks-not-goin...
     
    TAEZZAR likes this.
  39. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    10,090
    Likes Received:
    15,319
    Trophy Points:
    113
    Location:
    ORYGUN
    The gov. is incapable of telling the truth, therefore this IS their only path !


     
    searcher likes this.
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    120,108
    Likes Received:
    36,296
    Trophy Points:
    113
    Hump Day with Bix & "V" (01/11/2017)
    Rogue Money



    Streamed live 2 hours ago
     

Share This Page