Entire OTC Market Breaks As Finra Halts All Quotes And Trading
As we noted earlier, today's Twitter IPO, while pricing without the Facebook associated histrionics or crashing the NASDAQ, has had an impact on markets. A rather profound impact it appears, because as...
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Another Jobs Report, Another Leak? Gold Plunges & Treasuries Halted
Milliseconds after the release of the jobs report this morning, the 'supposedly' most liquid bond market in the world - US Treasury futures - were halted for 5 seconds. As Nanex notes, this has...
View ArticleISDA Proposes To "Suspend" Default Reality When Big Banks Fail
With global financial company stock prices soaring, analysts proclaiming holding bank shares is a win-win on rates, NIM, growth, and "fortress balance sheets", and a European stress-test forthcoming...
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Bitcoin - A Cost-Benefit Analysis
David Woo's earlier discussion of the 'maximum' fair value for Bitcoin, we thought his colleague Ian Gordon's view on the advantages and disadvantages of the virtual currency were worth noting. Woo...
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Part 6 - How Likely Are Bail-Ins? Bank of England Says U.S. “Could Do Today”
Today’s AM fix was USD 1,255.25, EUR 912.05 and GBP 765.49 per ounce.Yesterday’s AM fix was USD 1,245.75, EUR 906.13 and GBP 757.76 per ounce.Download our Bail-In Guide: Protecting your Savings In The...
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The Future of Money is Here: Zero Trust Digital Currency Contracts
BoomBustBTC contractNote: New subscriber content available below.I have created derivatives for Bitcoin that work exclusively on the Bitcoin network. They are capable of literally replacing the role...
View ArticleHere Is The Next Wall Street Crack Down (And Yes, JPMorgan Is In The Middle...
Nearly a year ago, we predicted that the party for bond traders was over. The reason: MBS bond trader Jesse Litvak, formerly of mid-tier, perpetual aspirational bulge bracket, and the place where every...
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JPMorgan Non-GAAP Revenues Beat, GAAP Miss; Earnings Boosted By $1.3 Billion...
Non-GAAP EPS, sure. But non-GAAP revenues? Up until today one would think that kind of accounting gimmickry is solely reserved for the profitless one-hit wonders of the world, i.e. Tesla, but moments...
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The Sheer Idiocy Of The Markets In One Chart... Is Back
When Google bought Nest (for its smart, intrusive thermostat technology that gives the NSA a front-row seat into the heating requirements of Americans), little did it know that it was purchasing an OTC...
View ArticleElliott's Paul Singer Debates Whether "Markets Are Safer Now" - Live Webcast
When it comes to the opinions of financial pundits and "experts", most can be chucked into the garbage heap of groupthink and consensus. However, one person whose opinion stands out is Elliott...
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Bank Of America Caught Frontrunning Clients
Every time a TBTF bank releases its 10-Q, we head straight for the section, usually well over 100 pages in, that discloses the bank's total profitable trading days. This is what the most recent Bank of...
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How The Rest Of The World Sells Its Government Bonds
The Primary-dealer intermediated US Treasury issuance model is well-known to virtually everyone (and if it isn't, today the TBAC has released a convenient presentation explaining all the nuances for...
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Investors Are Getting "High" On OTC Stocks In 2014
2014 has been an unusual year so far. The worst start for stocks in decades stunned many but has been saved by the best rally in a few years' asset-gatherers proclaim it was the dip to be bought but...
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China Plans Massive 1,500 Tonne Gold Storage Vault
Today’s AM fix was USD 1,320.75, EUR 963.63 and GBP 792.20 per ounce.Yesterday’s AM fix was USD 1,313.75, EUR 959.22 and GBP 788.90 per ounce. Gold rose $13.50 or 1.03% yesterday to $1,323.70/oz....
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Wall Street Trader: "My Lying Is Part Of Making Deals Although I Generally...
The story of former Jefferies MBS trader Jesse Litvak, who is currently on trial in New Haven federal court accused of defrauding investors of $2 million by lying on trades of mortgage-backed...
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David Stockman On Yellenomics And The Folly Of Free Money
Submitted by David Stockman via Contra Corner blog,The Fed and the other major central banks have been planting time bombs all over the global financial system for years, but especially since their...
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How (& Why) JPMorgan & COMEXShould Be Sued For Precious Metals Manipulation
Submitted by Ted Butler via Gold Silver Worlds blog,I’ve had some recent conversations with attorneys who were considering class-action lawsuits regarding a gold price manipulation stemming from...
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What Happens When An Idiot Market Finally Gets The Post-Euphoria Hangover
Nowhere is the 'get-rich-quick', 'fundamentals-are-for-suckers', new normal 'idiot' market more apparent than in the "mistakes" investors have made in Twitter's IPO (TWTRQ), Google's NEST acquisition...
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David Stockman: Why We Are Plagued With Drivel Masquerading As Financial...
Submitted by David Stockman via Contra Corner blog,Bubbleberg News LP: Why We Are Plagued With Drivel Masquerading As Financial ReportingOne of the evils of massive over-financialization is that it...
View ArticleThe Father Of High Speed Trading Speaks: "The Market We Created Is A Casino;...
While simplistic economist hacks and conflicted industry practitioners who stand to lose their entire revenue stream should HFT be liquidated, not to mention pagreview trolling journos, are suddenly...
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