DrStool Posted September 28, 2022 Author Report Share Posted September 28, 2022 We have a trend breakout and the ES has already blown through a 5 day cycle projection of 3725. Link to comment Share on other sites More sharing options...
Jimi Posted September 28, 2022 Report Share Posted September 28, 2022 Let's be frank. Some of the planet's wealthiest and best-compensated people asked a central bank overnight to intervene to backstop their livelihood, and the central bank did their bidding. These wealthiest-and-best-compensated people had put on trades that were short-sighted, and they were losing money because of those trades. They floated whispers in a pliant financial press intimating that the worst-case was the most-probable-case, which is the Paulson Playbook. Lastly, these same SOBs no doubt pointed & cried "Foul!" when the Big Nickel Whale made the clearinghouse break trades. Link to comment Share on other sites More sharing options...
fxfox Posted September 28, 2022 Report Share Posted September 28, 2022 7 minutes ago, Jimi said: Let's be frank. Some of the planet's wealthiest and best-compensated people asked a central bank overnight to intervene to backstop their livelihood, and the central bank did their bidding. These wealthiest-and-best-compensated people had put on trades that were short-sighted, and they were losing money because of those trades. They floated whispers in a pliant financial press intimating that the worst-case was the most-probable-case, which is the Paulson Playbook. Lastly, these same SOBs no doubt pointed & cried "Foul!" when the Big Nickel Whale made the clearinghouse break trades. Moral hazard never dies. But isn‘t it moral hazard too when 93% of those cute Portugese finance their new houses via ARM‘s although they knew exactly how catastrophic the consequences can be? They play with fire and know that the state, the ECB or the Germans will bail them out. Link to comment Share on other sites More sharing options...
sandy beach Posted September 28, 2022 Report Share Posted September 28, 2022 Turkey’s central bank makes big rate cut amid 80% inflation “Inflation is not a crippling economic threat,” Erdogan said in an interview with PBS NewsHour this week. “There are currently countries threatened by inflation rates of 8% and 9%. This rate is 80% in our country.” https://apnews.com/article/inflation-middle-east-recep-tayyip-erdogan-4184af38885e4195d1a1818f11d13a8b Link to comment Share on other sites More sharing options...
fxfox Posted September 28, 2022 Report Share Posted September 28, 2022 That GILT and GBP stuff is more or less an isolated British Problem. Britain is done. Since decades. The Brexit was the final nail in the coffin. Link to comment Share on other sites More sharing options...
sandy beach Posted September 28, 2022 Report Share Posted September 28, 2022 Bank of England launches £65bn move to calm markets Central bank to spend £5bn a day for 13 days as it warns of ‘material risk to UK financial stability’ “At some point this morning I was worried this was the beginning of the end,” said a senior London-based banker, adding that at one point on Wednesday morning there were no buyers of long-dated UK gilts. “It was not quite a Lehman moment. But it got close.” The most directly affected groups were final salary pension schemes that have hedged to ensure their ability to make future payments — so-called liability-driven investment strategies that are very sensitive to fast-moving gilt yields. “It appears that some players in the market ran out of collateral and dumped gilts,” said Peter Harrison, chief executive of Schroders, which has $55bn in global LDI business. https://www.ft.com/content/756e81d1-b2a6-4580-9054-206386353c4e Link to comment Share on other sites More sharing options...
Jimi Posted September 28, 2022 Report Share Posted September 28, 2022 8 minutes ago, sandy beach said: Bank of England launches £65bn move to calm markets Central bank to spend £5bn a day for 13 days as it warns of ‘material risk to UK financial stability’ “At some point this morning I was worried this was the beginning of the end,” said a senior London-based banker, adding that at one point on Wednesday morning there were no buyers of long-dated UK gilts. “It was not quite a Lehman moment. But it got close.” The most directly affected groups were final salary pension schemes that have hedged to ensure their ability to make future payments — so-called liability-driven investment strategies that are very sensitive to fast-moving gilt yields. “It appears that some players in the market ran out of collateral and dumped gilts,” said Peter Harrison, chief executive of Schroders, which has $55bn in global LDI business. https://www.ft.com/content/756e81d1-b2a6-4580-9054-206386353c4e “It appears that some players in the market ran out of collateral and dumped gilts.” All those bankers involved are returning their past three years’ bonuses, right? Link to comment Share on other sites More sharing options...
fxfox Posted September 28, 2022 Report Share Posted September 28, 2022 Wonder how long it takes till those „low volatility“ traders start complaining and ask for a bailout. Link to comment Share on other sites More sharing options...
Jimi Posted September 28, 2022 Report Share Posted September 28, 2022 I'm going to post these periodically as a side note, just because it's sort of an interesting "local" commercial thematic. Listed 5 hours ago. 40 acres, no structure, tall hoops, solar-powered well, 3 greenhouses, "very private setting." https://www.redfin.com/CA/Unknown/13945-Old-Boy-Scout-Rd-95490/home/182010015 Just tomatoes, I'm sure... 🙄 Link to comment Share on other sites More sharing options...
sandy beach Posted September 28, 2022 Report Share Posted September 28, 2022 35 minutes ago, Jimi said: I'm going to post these periodically as a side note, just because it's sort of an interesting "local" commercial thematic. Listed 5 hours ago. 40 acres, no structure, tall hoops, solar-powered well, 3 greenhouses, "very private setting." https://www.redfin.com/CA/Unknown/13945-Old-Boy-Scout-Rd-95490/home/182010015 Just tomatoes, I'm sure... 🙄 Thanks! I find these very interesting! I may buy one some day Link to comment Share on other sites More sharing options...
Jimi Posted September 29, 2022 Report Share Posted September 29, 2022 4 hours ago, sandy beach said: Thanks! I find these very interesting! I may buy one some day Totally. I'll keep posting 'em! Link to comment Share on other sites More sharing options...
fxfox Posted September 29, 2022 Report Share Posted September 29, 2022 Earnings season begins in 2 weeks. Where are the warnings? Given the current environment it would be quite surprising if we wouldn‘t see some shockers. Link to comment Share on other sites More sharing options...
Jimi Posted September 29, 2022 Report Share Posted September 29, 2022 Why the long red candles overnight? Didn’t BoE fix everything? Link to comment Share on other sites More sharing options...
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