#China and #HongKong #stocks were literally on the verge of free falling when the “national team” stepped in last week to the rescue. Clearly, the benefits of it were short-lived and yesterday the $HSI closed again below the 15,000 mark. Some #bullish hedge funds that went all-in on #china #stocks…
Category:Macro
NOT EVERY “ALL TIME HIGH” IS THE SAME – YES, THIS TIME IS DIFFERENT
he S&P500 closed at new all-time highs last Friday. Yet, have you noticed way fewer people are celebrating this time around? Yes, because indeed this time is different. In all fairness, Bloomberg tried to kick off the party but published one of the articles that has good chances to make…
TRADERS AND (ZOMBIE) COMPANIES NOW PRAYING #INFLATION IS NOT COMING BACK
The text discusses concerns about a potential resurgence of inflation, challenging the notion that central banks have successfully tamed it. Recent UK inflation data for December suggests a possible upward trend, prompting questions about the Federal Reserve’s rate-cutting plans. Bond traders are adjusting their bets, and the author predicts a likely rise in interest rates unless a significant event disrupts the current pattern. The impending maturity of substantial debt in 2024 adds pressure on yields. Regarding stocks, the author questions the bullish outlook, considering the impact of rising rates and the potential for another crisis. The conclusion advises caution and suggests buying insurance amid market uncertainties.
WELLS FARGO – A CASE OF TOO MUCH WINDOW DRESSING AND TOO LITTLE COLLATERAL?
Honestly, at first glance, what #WFC reported for Q4-23 didn’t seem great, but not particularly bad either. Overall, their Q4 seemed quite dull. I was tempted to move on, but as an old habit, I had to read the footnotes first and here we go, I finally came across something…
BANK OF AMERICA WENT “CRAZY” IN Q4 (LITERALLY)
While digging into #BAC‘s Q4-23 financial statements, I couldn’t help but wonder if they had lost their minds during the last three months of 2023. No, I am not referring to the “press release” or the “presentation,” which are usually prepared to “feed” the media rather than provide transparency to…
WHEN THE #SEC (CAT) IS AWAY, THE MICE DANCE
When I woke up this morning, I couldn’t believe my eyes. I had finished drafting this post before going to sleep, and the first thing I see on @X after waking up is Gary Gensler’s post claiming that the @SECGov account was hacked and that the #Bitcoin ETF wasn’t actually…
$HSBC – A TURNAROUND STORY, A SECRET TAKEOVER OR A PUMP & DUMP?”
On October 30 2023, after the latest $HSBC financial report release, I took a deep dive into their numbers, highlighting how the bank was still “walking on waters” (Post below). Prior to that, I highlighted many things within their balance sheet that simply didn’t add up (TwitterX). Nevertheless, the stock…
IS THE 2024 EDITION OF US REGIONAL BANKS (NOW JOINED BY PENSION FUNDS) “HUNGER GAMES” ABOUT TO BEGIN?
Last week I wrote about the end of the “hide till maturity” trick (post in quote below) that helped banks hide their growing mountain of troubled assets. A few days later, the news reporting CalSTRS pension fund, the second largest in the US, is considering borrowing $30bn becomes public. The…
2024 THE YEAR WHEN “HIDE TILL MATURITY” ENDS
During 2023, we have discussed so often how (ridiculously insolvent) banks have made extensive use of “Hold To Maturity” accounting to the point that it is now more appropriate to rename it “Hide Till Maturity” (TwitterX). Dump any asset with a market value implying a steep loss in the HTM…
WHY IS THE FED PREPARING TO BAIL OUT A JAPANESE BANK? BECAUSE OF THE “NORINCHUKIN” DANGER
First of all, who the hell is the latest counterpart added to the #FED Standing Repo Facility: “Norinchukin Bank”? “Officially,” it is a Cooperative Bank owned by Japanese agricultural, fishery, forestry cooperatives in #Japan. Yes, that’s right, an “agricultural” bank from Japan got a seat at the #FED big boys…