First, let’s talk about what’s important. The yen is trading 100.44 v the dollar, a smidgen away from the 100 level which is supposed (allegedly) to bring forth the apocalypse. Instantaneously, robots will turn against humans and animals will break loose from the zoo, sending the human species into panic mode. Even suicide bombers will lose their purpose to live and simply cut their own heads off, quietly, in their bathrooms.
Gold is up and oil is surging by 2%. You’d think those two ingredients would make for a nice market breakfast, no?
Fucking wrong.
The Germans are at it again, this time ruining the world with their banks. The DAX is off by 2.2%, led by shares of Deutsche Bank getting clown slapped the fuck lower by almost 7%. These are fresh, all time, record lows, for Europes largest bank and bagholder of horribly bad Greek debt.
As such is the case, markets have diverged from oil — opening lower by 140.
For now, the gold mine and the ark (TLT) are the preferred denizens for market participants.
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“Arsenic and Old Lace”
Dip-buying permabulls everywhere are hoping Hillary does not have a seizure on stage.
I’m surprised she won’t be debating Trump via Skype.
I guess Kuroda’s yield control plan isn’t work too great.
A must read:
http://www.moonofalabama.org/2016/09/todenh%C3%B6fer-interview-with-al-nusra-commander-the-americans-stand-on-our-side.html#more
Yeah, pretty amazing stuff. This is widely known amongst those in the knows for sometime now. I’d post this as news, but it’d just come off as crazy talk.
Trump is right once again: Obama created ISIS. Now we are getting it confirmed from the horse’s mouth.
the only reason one would at this late stage of the end of empire game posit a WTF? is because they did not make the crucial markets vs “markets” distinction — when you realize that we are experiencing the latter, then all WTF?’s are less than rhetorical, more at moot.
put another way, if you take gander back at crude at 90 handle and what “markets” were doing then, vs current 45 handle and what “markets” are doing today (hint: near ATHs), then you realize how decoupled it all is.
and if The Fed wasn’t directly invading the crude space in order to prop up HY energy, then we’d be at 25 and under handle.
at least that’s what i see……..
guess today is confusion day. or more confusion than the usual.
nice write up on oil bonds ponzi.
http://www.zerohedge.com/news/2016-09-26/low-oil-prices-are-not-reason-oil-companies-are-going-bankrupt
That zh post is both correct and missing the fact that at 90 or even 60 handle the debt was more “sustainable” in that ponzi musical chairs, but when prices came tumbling down even at zirp the lending became that much more tenuous….