Business

With elites increasingly sounding the alarm about the state of the stock market, and various market participants fearing the complacency is masking the fragility of the market's true character; it is no surprise that Baupost's recently named President and Head of Public Investments, Jim Mooney, has joined the chorus.

While Mooney (and Klarman's) warning regarding market volatility is not new, perhaps the most interesting nuance is the 'difference this time'.

Chris Whalen, Chairman of Whalen Global Advisers and a very well-known financial analyst (he was one of the original forecasters of Lehman's inevitable demise) appeared on MacroVoices podcast this week to discuss the equity valuations, the path of the US dollar and DoubleLine Capital founder Jeff Gundlach’s declaration that the 35-year bull market in bonds is dead. Some of the key highlights:

FX Week Ahead, by Shant Movsesian and Rajan Dhall MSTA of fxdaily.co.uk

Is the SNB at it again? EURO-phoria takes off as longer term investors get the nod.

Following a flood of warnings in the past week about both the precarious state of markets and the global economy, most recently from the otherwise stoic Howard Marks warning about bubble-like condition in the market (especially when it comes to passive investors), as well as Robert Shiller who explained what "keeps him up at night", we were due for some good news.

Authored by Mike Shedlock via MishTalk.com,

Bank of America says 9% of European firms have subpar interest coverage. Bloomberg covers the story in its report Zombie Companies Littering Europe May Tie the ECB’s Hands for Years.

Watch out for the zombies.