Bill Blain: "It's Tough Being A Central Banker"
By Bill Blain of Mint Partners
Blain’s Morning Porridge
“Sometimes I’ve believed as many as six impossible things before breakfast.. ”
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Das Fears Rising Social Tensions As "The Old Are Eating The Young"
Authored by Satyajit Das, originally posted at Bloomberg.com,
Around the world, a generational divide is worsening...
Demand For Hong Kong Micro Apartments Surges As Buyers "Downgrade Expectations"
The surge in Hong Kong housing costs has lifted home prices well beyond the bounds of affordability for most local families and young professionals, leading to long lines at housing sales that were sometimes oversubscribed by as much as 15x. But while home prices have risen for every type of home, Bloomberg notes that the intensifying demand for micro-apartments - some of which are as small as 128 square feet (about the size of a garden shed) - has caused prices for this segment of the housing market to climb more quickly than normal-sized homes. Why?
Time To Get Over Your Myriad Of Reasons Not To Invest In Greece – by Michael Carino
JPMorgan's Kolanovic: "$1.3 Trillion In S&P 500 Options Expire Tomorrow"
With Nasdaq 'VIX' reaching 15-year highs relative to S&P 'VIX' in the last week, we suspect tomorrow's quad-witching will be a little more noisy than normal as traders scramble to cope with $1.3 trillion of expiring S&P options...
JPMorgan's Marko Kolanovic lays out the details...
In our view, it will be difficult for the market to go much higher from these levels (~2,450) unless there is meaningful progress on US fiscal reform (i.e. tax cut).