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One Bank Is Unsure If Any Humans Still Trade Stocks In Japan, Or Have All Moved To Bitcoin

While the wholesale disappearance of retail traders from stock markets is hardly a novel observation, it has taken on a whole new meaning in Japan, where the lack of carbon-based investors has prompted Deutsche Bank to ask if “Japan’s stocks are still traded at all by humans.” As Deutsche strategist Masao Muraki writes, since the […]

What’s The Best Company To Work For Where You Live?

With unemployment in the US purportedly reaching its lowest level in 17 years (that is, according to the Department of Labor's flawed household survey) employees who once would've been too fearful to leave their jobs are now actively looking for opportunities. With that in mind, many have probably wondered what's the best company to work […]

2018 Will Be When Central Bank Policy Crashes Into the Wall

The bubble in sovereign bonds is looking dangerously close to popping. And ironically, what could burst it is the very thing Central Banks have been pursuing aggressively for the last 9 years: inflation. As I explain in my bestselling book The Everything Bubble, Treasury yields adjust to account for inflation. The relationship is not perfect as […]

A. Gary Shilling: Trump Deserves Some Credit For The Surge In Stocks

Authored by A. Gary Shilling via Bloomberg.com, Less regulation is one campaign promise made by the president that is coming true… Reducing government regulation is tough. It’s resisted by all those who benefit, including government employees who administer the many programs. Every president since Jimmy Carter has attempted to lower the cost of regulation. At […]

Why Mueller Is REALLY Indicting Flynn

Mueller Versus Flynn The mainstream narrative is that squeaky-clean special prosecutor Robert Mueller is going to indict Trump’s one-time foreign policy advisor Michael Flynn because Flynn is in the pocket of the Russians and the Turks. But the truth might be totally different … After all, Flynn’s meeting with Russian diplomats was completely normal, according to a prominent […]

These Are The Fastest-Growing (And Declining) Jobs In The US

As the inexorable advance of automation kills jobs from retail to manufacturing to data entry while wages in the US show only marginal signs of improvement, the Labor Department's latest biennial employment projections have revealed the fastest and slowest-growing fields in the US. …The industries that dominate the list aren't surprising. Home health aides, statisticians, […]

What Made Gold Go Up, Update 20 Oct 2017

Yesterday, the Department of Labor announced that initial jobless claims dropped. Quite a lot. So naturally, markets reacted. The stock market began to rise. The euro rose, at least for a while. And the prices of our favorite heavy metals rose, particularly silver. Silver was around its low of $16.92 before the report. Two and […]

Initial Jobless Claims Crash To Lowest Since 1973

So much for the hurricane distortions of the US labor market… Just a few short weeks after initial unemployment claims jumped in the aftermath of Hurricanes Harvey and Irma, in the latest week the DOL reported that filings for unemployment benefits tumbled to the lowest level in 45 years, or since 1973, as all those […]

The Cost Of Delusion – Asset Prices & Monetary Policy In An Irrational World

Authord by Chris Whalen via The Institutional Risk Analyst, Almost as soon as it started, the excitement surrounding earnings for financials in Q3 2017 dissipated like air leaving a balloon. Source: HedgeEye Results for the largest banks – including JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) – all universally disappointed, even based upon the […]

Science Tells Us This Is All True

Authored by Simon Black via SovereignMan.com, On April 30, 1934, under pressure from Italian-American lobby groups, the United States Congress passed a law enshrining Columbus Day as a national holiday. President Franklin Roosevelt quickly signed the bill into law, and the very first Columbus Day was celebrated in October of that year. Undoubtedly people had […]

S&P Dips As Bitcoin Rips On 10th Anniversary Of Stock Market Peak

There's a chance tax reform may not get done!!! Inconceivable!! 10 years ago today, The Fed minutes were released sparking a buying frenzy pushing The Dow above 14k to a new record high – supported by a dovish Fed and a convinced public that job growth was recovering and all would be well. It turns […]

Wall Street Hypocrisy Exposed: Bank Behind “Fearless Girl” Statue Fined For Systemically Underpaying Women

The bar for Wall Street hypocrisy has just been raised. In a controversy that can only be described as hilariously ironic, Boston-based bank and asset manager State Street Corp – which famously created and installed the “fearless girl” statue, purportedly symbolizing Wall Street’s progress toward gender equality in the workplace – to be a symbol […]

New York Fed Calculates Inflation Is Running Hottest Since 2007

As if inflation wasn’t “mysterious” enough to the Fed already, today the New York Fed joined the Atlanta Fed first in releasing its own measure to track underlying inflation called, simply, the Underlying Inflation Gauge. What is notable is that this latest inflation tracker shows prices behaving quite differently from traditional indexes this year. According […]

Used Car Prices Crash To Lowest Level Since 2009 Amid Glut Of Off-Lease Supply

The U.S. auto market is at an interesting crossroads with used car prices crashing to new lows every month while new car prices continue to defy gravity courtesy of a somewhat ‘frothy’, if not suicidal, lending market that has seemingly decided that anyone with a pulse is financially qualified for a $0 down, 0% interest, […]