“Which brings us to today, when we find that China’s credit formation, until now proceeding at a breakneck speed, has suddenly ground to a halt.“
It’s Probably Nothing
China; “With new project prices down over 20%, ‘homeowners’ exclaim “return our hard-earned money” and “this is very unfair…”
It’s Probably Nothing
Doing the job that Americans won’t do;
IDF forces struck a number of Syrian military and security targets connected to the blast that injured four Israeli soldiers on Tuesday, the IDF Spokesman said early on Wednesday.
The targets, which included military headquarters, artillery batteries and a training base belonging to the Syrian military, “enabled and aided in the carrying out of [Tuesday’s] terror attacks,” the statement read. “The IDF retains the right to act in any way and at any time it sees fit to protect the citizens of Israel.”
It’s Probably Nothing
It’s Probably Nothing
In The Long Run We Are All Broke
Bloomberg: Global Debt Exceeds $100 Trillion as Governments Binge
It’s Probably Nothing
It’s Probably Nothing
Eternal city warns it will go bust for the first time since it was destroyed by Nero
It’s Probably Nothing
These Maps Show The Wildly Overlapping Territory Claims That Could Lead To Conflict In The South China Sea
It’s Probably Nothing
These things always happen in threes fives. (h/t Kevin B)
It’s Probably Nothing
A 37-year-old JPMorgan Chase & Co executive director who died from unknown causes Feb. 3 appears to be the latest in a series of untimely deaths among finance workers and business leaders around the world in the past three weeks.
h/t peterj
It’s Probably Nothing
The founder and CEO of American Title Services in Centennial was found dead in his home this week, the result of self-inflicted wounds from a nail gun, according to the Arapahoe County coroner.
You know, these things always happen in threes fours.
h/t james
“The cause of the fire wasn’t immediately clear.”
“…on the day when Argentina decrees limits on the FX positions banks can hold and the Argentine Central Bank’s reserves accounting is questioned publically, a massive fire – killing 9 people – has destroyed a warehouse archiving banking system documents.” (h/t marc in calgary)
#probablynothing
WSJ: Twitter shares [in] a tailspin, falling about 12% in after-hours trading.
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Falling faster than Canadians from Mexican balconies…
Russell Investments’ Chief Economist Mike Dueker was found dead in an apparent suicide in the United States, the latest in a series of untimely deaths among finance workers and business leaders around the world this past week.
h/t peterj
It’s Probably Nothing
When retail foot traffic and sales were disappointing in December, the standard explanation was that people must be moving their purchases online. Obviously, they weren’t — at least, not nearly as much as analysts expected.
Premier Selinger, call your office.
In Manitoba, a couple of byelections spell doom for the ruling NDP.
Liberal candidate Floyd Buhler, a municipal employee, finished second in Arthur-Virden, taking about 17 per cent of the vote with most polls reporting tonight. Compare that to the 2011 general election, when the Liberals won less than four per cent of the vote in the southwest Manitoba riding.
In Morris, the party, represented by university student Jeremy Barber, upped its vote to 11 per cent from 6.6 per cent, finishing third.
It’s one thing for the PC’s to take rural seats; and something else for a defunct left-leaning party to quadruple and double its share of the vote. Yes, they were byelections, and not necessarily representative, still….
Via, NWC.
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#Canada #Bubble update – Median wage vs median home price in Toronto. Yeah, that'll end well! Not. By @TorontoBubble pic.twitter.com/wbSRKRc5EP
— Jesse Colombo (@TheBubbleBubble) January 28, 2014
It’s Probably Nothing
Via email,
Good morning Kate-
I don’t think you’re going to see this anywhere else, so here goes….
With no excess margin left in any trader’s account nowadays, the littlest foreign exchange hiccup is blowing up every hedge fund’s and Wall street prop desk’s most favorite trade, the emerging market swap. Lend the Jap 10 year note, and borrow the Thai 10 year note, at the same time, as an example, and pocket the difference in yield., in a corporate margin account, using borrowed US Treasury bills pledge to borrowed Japanese Yen to finance the larger swap trade. Because of the unidicted status of Jon Corzine, any “smart” trader will leave no uninvested cash at any brokerage account, knowing that the brokerage firm may use it for its own purposes with little or no recourse. And certainly no access to your cash, for months on end. The margin call comes in when the borrowed security’s value falls, in this case a Thai 10yr, compounded with a currency move (Thai Baht) against the borrower, who borrowed in Japanese Yen, which also moves against the borrower, and you have a multicase of margin call, which forces the sale of the whole thing. And actual, realized losses.
Hedge funds will be closed today because of these bets. And the banks? Oh, Jack Lew will be “forced” to bail out some of them out. (see def. “reliable donor class”)
Going to get very messy into next week.
Discuss.