The 6 Most Important Charts to Pay Attention to in Turbulent Markets

The S&P 500 has been chugging along for a decade, up nearly 420% since the 2009 financial crisis lows. You can argue the reasons why – buying fueled by debt, share buybacks and low interest rates among them. Either way, it’s hard to argue against buying the index being the best risk adjusted trade for the last decade. Savvy (alligator) investors love a good crisis. […]

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We Are Watching The Stock Market Do Things That It Has Never Done Before

Stock prices are falling faster and harder than they ever have before.  If the financial markets are in this much chaos even though not a single American has died from the coronavirus yet, what are things going to look like if this outbreak starts sweeping across America like wildfire?  The number of confirmed cases continues to explode all over the world, and the discovery of […]

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California Governor Says State 'Monitoring' 8,400 For Coronavirus; 33 Have Tested Positive; In New York, 700 Asked To 'Self-Isolate': Live Updates

Summary: WHO says outbreak in Iran likely worse than official numbers suggest; outbreak could go in “any direction” Cali monitoring 8400, 28 cases in the state China reports 327 new cases and 44 new deaths on Thursday Dozens of hospital staffers who treated US coronavirus patient with ‘unknown’ origin being ‘monitored’ Facebook cancels annual ‘F8′ developers’ conference 700 in New York asked to ‘self-isolate’ Iran […]

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Erdogan's Nightmare: 3 Turkish Drones Shot Down In 24 Hours Over Syria & Libya

The Turkish Air Force had a very bad last 24 hours, reportedly losing an unprecedented total of three unmanned aerial vehicles (UAVs) over Syria and Libya.  Turkish President Erdogan attents to roll out of a new fleet of high tech drones, file image. First, a large Turkish military drone was downed over south Idlib on Tuesday. The Syrian Arab News Agency (SANA) reported, “A unit of […]

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How Many Cases of Covid-19 Will It Take For You to Decide Not to Frequent Public Places?

As empty streets and shelves attest, people taking charge of risk has dire economic consequences. How many cases of Covid-19 in your community will it take for you to decide not to frequent public places such as cafes, restaurants, theaters, concerts, etc? How many cases in your community will it take for you to decide not to take public transit, Uber/Lyft rides, etc.? How many cases in your […]

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Almost All Patients In South Korean Psychiatric Ward Are Infected With Coronavirus

As the number of confirmed coronavirus infections in South Korea goes parabolic, the latest development in the Pacific Rim nation is right out of Arkham Asylum. But first, the big picture: South Korea reported 229 new confirmed cases on Saturday, as the number of infections more than doubled in a day to 433, an eightfold jump in just four days. As the chart below shows, […]

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Will COVID-19 lead to a gold standard?

Even before the coronavirus sprang upon an unprepared China the credit cycle was tipping the world into recession. The coronavirus makes an existing situation immeasurably worse, shutting down China and disrupting global supply chains to the point where large swathes of global production simply cease. The crisis is likely to be a wake-up call for complacent investors, who are content to buy benchmark bonds issued […]

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Credit Suisse MD Dies In Freak Accident After Slipping Through Chairlift And Being Suffocated By His Own Jacket

Almost exactly 10 years ago, we detailed the tragic death of Gerard Reilly in a skiing accident – the point man on Repo 105, the point person for E&Y’s “investigation” into the Matthew Lee whistleblower campaign, Lehman’s Level 2 and Level 3 asset valuation, the brain behind the idea to spin off Lehman’s commercial real estate business, Lehman’s Archstone investment, and likely so much more: […]

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Charts: US Shale Oil and Gas Production in the Permian Basin

Submitted by Taps Coogan on the 18th of January 2020 to The Sounding Line. Enjoy The Sounding Line? Click here to subscribe. This article is the seventh in a series exploring oil and gas production in the seven major US shale basins. To read about the Anadarko, Appalachia, Bakken, Eagle Ford, Haynesville, and Niobrara basins click here, here, here, here, here, and here. Today, we […]

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Martin Armstrong on the Crisis unfolding in the Repo Market

“If there was a free market, then you would have witnessed the bonds crash in price and interest rates rise as people perceived risk. The introduction of negative interest rates which began in late 2014 going into 2015.75 and Quantitative Easing, shifted the risk from the free market to the central banks. This is what I mean that they are now TRAPPED! If interest rates rise, their portfolios crash in […]

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"Bullshit Earnings": Charlie Munger Slams Companies Who Use "Ridiculous" Adjusted EBITDA To Report Earnings

Amidst the nonsense, folly and euphoria of the last decade long bull market, a small beacon of hope shines in the form of Warren Buffett’s business partner. These days, the reporting of financial metrics has wandered so far off the path from normal GAAP earnings that’s it’s difficult to keep up with companies and decipher their earnings reports each quarter. The SEC has done little […]

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China Sneezes and the World Catches Pneumonia

The Coronavirus originated in China and is now a global outbreak. It’s gotten so bad that entire cities in China have been shut down. Cities of 10 million people, normally hustling and bustling are eerily silent. Even Foxconn, the maker of Apple iPhones closed their factories for several days. China is an economic powerhouse. The country produces and consumes an enormous quantity of goods and […]

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JPMorgan Admits "Without A Historical Daily Breakdown" Its Virus Model Is Worthless

When confronted with the unprecedented “one-time” revision in infected Covid cases, which added a whopping 15,000 infections to the Chinese disease total, Wall Street has responded in one of two ways. The first, as exhibited by the vast majority of sellside analysts who refuse to admit they are wrong, such as Goldman (described earlier), simply ignored the new data, treating thousands of infected people as […]

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South32 says deal with Seriti at risk unless Eskom agrees to raise coal price to Duvha

SOUTH32 CEO, Graham Kerr, has again emphasised the need for a positive outcome to the negotiations underway with Eskom over the “hardship clause” regarding the supply of coal from the group’s Duvha Colliery. Speaking on a media conference call following release of the group’s results for the six months to end-December, Kerr also stressed that a positive outcome from these talks was crucial for the […]

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Sudden Militarization Of Wuhan's P4 Lab Raises New Questions About The Origin Of The Deadly Covid-19 Virus

The reported militarization of Wuhan’s P4 Lab has raised new questions about the origin of the Covid-19 virus and the apparent cover-up that has occurred since it was first made public. Following the removal of the most senior health officials in Wuhan yesterday, Chinese State Media has just reported that Chen Wei, China’s chief biochemical weapon defense expert, is now to be stationed in Wuhan […]

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Kyle Bass Predicts HSBC Collapse In 2020! (Here’s Why)

Kyle Bass reveals HSBC insights 👉YOU’VE BEEN LOOKING FOR! 👈And I explain them in a simple and fast way that’s easy to understand. Kyle Bass is a legendary investor well known for his extremely rigorous analysis. He called US banking crisis in 2008 and now he’s calling for a Hong Kong banking crisis in 2020, specifically HSBC! Kyle Bass outlines his views starting with the […]

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Chinese Propaganda Video Shows Coronavirus Victims Dancing In Detainment Facility

Authored by Paul Joseph Watson via Summit News, Apparently keen to offset video footage of screaming Chinese people being abducted from their homes and taken to detention camps, the ruling Communist Party put out a video showing “mild” coronavirus victims housed in a “temporary hospital” being directed to dance by workers in hazmat suits. The video was published by People’s Daily, the largest newspaper in […]

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OK, it Gets Sticky: Job Openings Plunge the Most Since the Great Recession

Down 15% from a year ago. Employment lags job openings by a few months. It hit the usual suspects but also the services industries, including finance & insurance, tech, and healthcare. By Wolf Richter for WOLF STREET. Let’s make this clear: these are job openings in December and prior months, before the novel coronavirus had shown up on the business-staffing horizon. Let’s also make clear that the two-month […]

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This Coronavirus Outbreak Is Causing A Lot Of People To Go Completely Nuts

In my entire lifetime, I have never seen so much panic over a potential global pandemic.  Emergency supplies are flying off the shelves, people are going to great lengths to avoid public gatherings, and flu masks are selling out all over the world.  I was recently talking to a friend of mine who lives in Florida, and he told me that he has seen a […]

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