Via King World News,
Today the man who has become legendary for his predictions on QE, historic moves in currencies, warned King World News that we are now in the frightening endgame.
Fear And Propaganda
Egon von Greyerz:
Earlier today, the ECB updated the list of corporate bonds it bought in the latest week. While no individual bond purchase amounts were given, the ECB has bought into 980 issuances with a total of €683bn in amount outstanding (from 245 issuing entities). For the week ending 21st Jul, bond purchases stood at €0.7bn across sectors, bringing total Corporate Sector Purchase Program holdings to €101.1 Billion, an increase of €720MM in the past week. The complete list of ISINs can be found here courtesy of UBS.
It seems Morgan Stanely was right when they said "the debt ceiling worries us most," as today's 3-month T-Bill auction surprised the market with its highest yield since the fall of 2008, as investors continue to price concerns that the U.S. government will exhaust its borrowing authority around mid-October.
As SMRA details:
Prompted by growing interest among the hedge fund community, Goldman is dedicating increasingly more "bandwidth" to covering bitcoin, and judging by the bank's bullish bias, most of the "smart money" appears to be long the cryptocurrency.
On the same day that Greek PM Alexis Tsipras triumphantly announced to The Guardian that "The worst is clearly behind us", Greece just as triumphantly announced that its long-rumored bond issue, the first after a three year hiatus which saw its last bond issue crash then surge, is now a reality. Just like in 2014, Greece is looking to sell another batch of five-year bonds, according to an Athens Stock Exchange filing. The bonds will be sold in benchmark size via a legion of banks, and are expected to price on Tuesday.