Over the weekend, we presented a comprehensive step by step analysis laying out both the mechanics (and implications) of the Fed unleashing NIRP in the US when the time comes: a time which as JPM further defined, would be characterized by "recession-like conditions." In other words, right about now if Yellen so chose.
Over the past two years, Jeff Gundlach has been alternating between dispensing fire and brimstone, and doom and gloom. More importantly, he has also been right which explains why as his arch nemesis Pimco has been losing billions in AUM, Gundlach's DoubleLine has been getting bigger by the day.
Large cap financials have had an awful time in the last month and are 11.7% lower so far in 2016.
As ConvergEx's Nick Colas details, that’s worse than pretty much anything else, including all other S&P 500 sectors, the Russell 2000 small cap index, and even the MSCI Emerging Markets Index.
If there’s anything we’ve learned over the past twelve months it’s that Turkish President Recep Tayyip Erdogan is prepared to employ all manner of nefarious tactics in order to preserve his grip on power in Ankara.
Back in the summer of 2011, when we reported that Canadian banks appear dangerously undercapitalized on a tangible common equity basis...
... the highest Canadian media instance, the Globe and Mail decided to take us to task. To wit:
Were the folks at Zerohedge.com looking at the best numbers when they argued that Canadian banks were just as levered as troubled European banks?