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Late last week while having my morning coffee I listened to an interesting news item aired on NPR. It briefly reported that the Boeing Company and its machinists agreed that if Boeing manufactured its latest model aircraft in the Seattle area, the machinists would give the company significant wage and benefit concessions.
via The Citizen http://ift.tt/1dO7eef
“Bond King” Bill Gross may not have had a good year following over $40 billion in redemptions from his $250 billion Total Return Fund, but another aspirational Bond King, DoubleLine’s Jeff Gundlach, had an even worse year on an relative basis, when his Total Return Bond Fund saw $6 billion in redemptions ending the year at $30.9 billion in AUM following seven consecutive months of withdrawals. So in his attempt to start the new year on better footing, here is his first webcast (as usual open to the public), titled “Let the Race Begin! 2014 Markets: Year of the Horse“, in which as usual Jeff will discuss the economy, the markets and his outlook for the best investment strategiest of 2014. Let’s hope that for bond fund manager, that 2014 is not just another “year of the donkey”, as was the case in the past year which everyone managing duration would rather forget.
The webcast begins at 4:15 pm Eastern and anyone willing to do so, can register at the following link.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/bjVYcpXm4vY/story01.htm Tyler Durden
“Bond King” Bill Gross may not have had a good year following over $40 billion in redemptions from his $250 billion Total Return Fund, but another aspirational Bond King, DoubleLine’s Jeff Gundlach, had an even worse year on an relative basis, when his Total Return Bond Fund saw $6 billion in redemptions ending the year at $30.9 billion in AUM following seven consecutive months of withdrawals. So in his attempt to start the new year on better footing, here is his first webcast (as usual open to the public), titled “Let the Race Begin! 2014 Markets: Year of the Horse“, in which as usual Jeff will discuss the economy, the markets and his outlook for the best investment strategiest of 2014. Let’s hope that for bond fund manager, that 2014 is not just another “year of the donkey”, as was the case in the past year which everyone managing duration would rather forget.
The webcast begins at 4:15 pm Eastern and anyone willing to do so, can register at the following link.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/bjVYcpXm4vY/story01.htm Tyler Durden
Following yesterday's worst day in stocks in 4 months, something had to be done. Starting at yesterday's US close JPY was sold after defending USDJPY 103 and that – along with a slamdown in gold, silver, and VIX provided the admittedly low volume melt-up in stocks today. Trannies and NASDAQ made it back into the green year-to-date. The small beat in retail sales this morning trumped the relative hawkish tones from Fed speakers today as the best day for USDJPY since the taper provided enough magical carry juice to lift stocks by their most since the taper (and the NKY up 400 points) with JPY-ES correlation over 0.92 today. Treasuries bled higher in yield with the belly underperforming (to unch on the week) and 5s30s flattening 3bps. The USD was bid against all the majors with JPY's move the largest as CAD retraced its gains from yesterday to its weakest in over 4 years. Gold and silver were quadruple-whammied today with 4 legs down after daring to show strength yesterday. VIX floored out at 12% once again and leaked higher all afternoon with a late-day press to try and ignite more buying in stocks. In summary, stocks mirror-imaged yesterday's dump with a half-volume pump, that is all.
"V" for Victory… as NASDAQ and Trannies go green year-to-date once again…
With the Yendex 500 (h/t @Not_Jim_Cramer) continuing its sublime path higher…
Today's closing S&P 500 futures VWAP perfectly in line with yesterday's closing VWAP… Interestingly, the moment it hit VWAP the rally stopped…
Healthcare is now the big winner since the Taper…as builders retreat
VIX was slammed lower out of the gate and lifted stocks… until the European close when it diverged notably…
The USD is back to unchanged on the week as USDJPY has its 2nd biggest surge in 4 months!!!
Gold and Silver suffered but retraced back in line with oil and copper on the week…
But the day saw 4 good efforts to smack down gold…
Treasuries sold off today (and flattened 5s30s) but remain notably positive post-jobs…
Charts: Bloomberg
Bonus Chart: The last 3 times the S&P 500 dropped significantly this happened. As dshort.com shows (via kimblechartingsolutions), when the 10Y Treasury yield finds resistance, the stock market seems to want to drop… almost as if someone knows that, given the US debt load, it can't withstand a higher cost of debt
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/sdyNgl2xfm8/story01.htm Tyler Durden
Following yesterday's worst day in stocks in 4 months, something had to be done. Starting at yesterday's US close JPY was sold after defending USDJPY 103 and that – along with a slamdown in gold, silver, and VIX provided the admittedly low volume melt-up in stocks today. Trannies and NASDAQ made it back into the green year-to-date. The small beat in retail sales this morning trumped the relative hawkish tones from Fed speakers today as the best day for USDJPY since the taper provided enough magical carry juice to lift stocks by their most since the taper (and the NKY up 400 points) with JPY-ES correlation over 0.92 today. Treasuries bled higher in yield with the belly underperforming (to unch on the week) and 5s30s flattening 3bps. The USD was bid against all the majors with JPY's move the largest as CAD retraced its gains from yesterday to its weakest in over 4 years. Gold and silver were quadruple-whammied today with 4 legs down after daring to show strength yesterday. VIX floored out at 12% once again and leaked higher all afternoon with a late-day press to try and ignite more buying in stocks. In summary, stocks mirror-imaged yesterday's dump with a half-volume pump, that is all.
"V" for Victory… as NASDAQ and Trannies go green year-to-date once again…
With the Yendex 500 (h/t @Not_Jim_Cramer) continuing its sublime path higher…
Today's closing S&P 500 futures VWAP perfectly in line with yesterday's closing VWAP… Interestingly, the moment it hit VWAP the rally stopped…
Healthcare is now the big winner since the Taper…as builders retreat
VIX was slammed lower out of the gate and lifted stocks… until the European close when it diverged notably…
The USD is back to unchanged on the week as USDJPY has its 2nd biggest surge in 4 months!!!
Gold and Silver suffered but retraced back in line with oil and copper on the week…
But the day saw 4 good efforts to smack down gold…
Treasuries sold off today (and flattened 5s30s) but remain notably positive post-jobs…
Charts: Bloomberg
Bonus Chart: The last 3 times the S&P 500 dropped significantly this happened. As dshort.com shows (via kimblechartingsolutions), when the 10Y Treasury yield finds resistance, the stock market seems to want to drop… almost as if someone knows that, given the US debt load, it can't withstand a higher cost of debt
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/sdyNgl2xfm8/story01.htm Tyler Durden
Regular readers know that I am no fan of Chris Christie. Just yesterday, I highlighted a post written by Chris Hedges on the New Jersey Governor, which is a must read expose if you haven’t already.
While Hedges’ criticisms of Christie are nothing to laugh about, Jon Stewart’s certainly are. Have fun with this hilarious clip!
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Jon Stewart on Chris Christie…Absolutely Hilarious originally appeared on A Lightning War for Liberty on January 14, 2014.
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Border crossings are a great place for government bureaucrats to harass the citizenry. Over the past several years, most of us have heard horror stories in this regard. I highlighted several stories of border crossing concerns last year, with the two most interesting being:
and
One of the greatest fears of activists, journalists and average citizens alike, is that some border patrol agent can confiscate your electronics on a whim and then use sophisticated software to break your passwords and look through all your personal files and data. Fortunately, the Supreme Court just let stand the ruling by an appellate court, which ruled that a deep forensics analysis of one’s electronics can only occur if there is “reasonable suspicion” of criminal activity. That’s at least a start in the right direction.
From Wired:
Without issuing a ruling, the justices let stand an appeals court’s decision that U.S. border agents may indeed undertake a search of a traveler’s gadgets content on a whim, just like they could with a suitcase or a vehicle. That is known as the ”border search exception” of United States law, where travelers can be searched without a warrant as they enter the country. The Obama administration has aggressively used this power to search travelers’ laptops, sometimes copying the hard drive before returning the computer.
However, in a rare win for digital privacy, the 9th U.S. Circuit Court of Appeals’ ruling last year concluded that a deeper forensic analysis by border officials using software to decrypt password-protected files or to locate deleted files now requires “reasonable suspicion” of criminal activity — an outcome the justices refused to tinker with today.
That means, in essence, the authorities must have some facts, rather than a hunch, that illegal activity is afoot to perform a forensic analysis on electronics seized along the border of the western United States.
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Presented with little comment aside to ask (rhetorically of course) how
much longer the crushed consumer can subsist on a diet of increasingly saturated credit and dwindled-savings before retail sales revert to reality…
h/t @Not_Jim_Cramer
via Zero Hedge http://ift.tt/1m1pzf1 Tyler Durden
Presented with little comment aside to ask (rhetorically of course) how
much longer the crushed consumer can subsist on a diet of increasingly saturated credit and dwindled-savings before retail sales revert to reality…
h/t @Not_Jim_Cramer
via Zero Hedge http://ift.tt/1m1pzf1 Tyler Durden
This should be good… just don’t mention the bridge (and with any luck this won’t last as long as the press conference)
click image for NBC live stream
via Zero Hedge http://ift.tt/1m1puYX Tyler Durden