Business

While market volatility remains so high it leaves many trading desks speechless by "brutal" if obvious unwinds, and both institutional and retail traders clueless and at best hoping to ride the momentum wave in any direction before it violently reverses, one person who is a steadfast seller into any and every rally is BofA's chief investment strategist Michael Hartnett who in a note titled "Fed, dollar & the end of splendid isolation" explains just why with one simple chart, and further notes that he will continue to sell "at least until a coordinated and aggressive global policy respon

Russia is now the top crude oil exporter to China. It appears that Russia is reaping the rewards of dumping the dollar. At the the beginning of the decade the Saudi share of Chinese crude imports was around 20%, while Russia’s was below 7%… But that has changed and as the Russians creep in, the Saudis are starting to get nervous. Russia Insider reports: Now the Saudis find themselves neck and neck with Moscow for the lead in Chinese market share, with both performing in the 13-16% range. But Russia’s share continues to rise, as The Kingdom struggles to maintain a foothold. Why?

As you might have noticed, the “recovery” story is starting to fall apart.

Central banks across the globe are running out of excuses for why trillions upon trillions in global QE have been an abject failure when it comes to resuscitating global demand and trade.

We are going to need more "whatever it takes." And with Draghi's efforts to shove sovereign bonds down the throat of Europe's banks, the sovereign-to-financial linkage is now systemically as worrisome as it has ever been...

Deutsche Bank's CDS continues to push higher...smashing European bank risk to its highest since 2013...

Unicredit remains the most risky among EU banks...

And it is spreading to America...

The collapse of Deutsche Bank continues to not just accelerate but to contagiously spread...

Deutsche Bank's CDS continues to push higher...smashing European bank risk to its highest sicne 2013...

And now Deutsche Bank's Contigent Capital securities are crashing - these are among the lowest securities on DB's capital structure and are screaming that problems loom.