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ZeroHedge: Valeant Lenders Agree To Amend Credit Facility
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Three days ago, the latest catalyst to weigh down Valeant stock was news that the company’s lenders were...
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ZeroHedge: The ECB Effect: European Telecom Issues Largest Ever Junk Bond...
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Two weeks ago we previewed how, in the aftermath of the ECB’s stunning announcement the hedge fund masking as a...
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ZeroHedge: Every Time This Has Happened, A Recession Followed
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Three months ago the Fed released its Fourth Quarter “Senior Loan Officer Opinion Survey on Bank Lending...
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ZeroHedge: State Of The States: New Jersey’s Problems Are Not “Mathematically...
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. While the warning flags are raging in Illinois and Connecticut, JPMorgan's Michael Cembalest states that New...
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ZeroHedge: The Global Monetary System Has Devalued 47% Over The Last 10 Years
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Authored by Paul Brodsky via Macro-Allocation.com, We have argued the inevitability of Fed-administered...
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ZeroHedge: These Were The Main Events In The Oil Sector This Week
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. For those who need a quick and easy recap of all the main events that took place in the oil and gas services...
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Musknado – Tesla Tumbles After Offering To Acquire SolarCity
Desperate, or Distracted? Elon Musk's Tesla has offered to acquire Elon Musk's cousin's SolarCity for 0.122 to 0.133 Tesla shares. Tesla shares are tumbling on the news, as perhaps they read the five...
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Beware of Junkyard Dogs: “This Isn’t A Really Normal Environment”
By Danielle DiMartino-Booth Having spent a chunk of his youth “shopping” them, Jim Croce came to know a thing or two about junkyards. In those youthful days, should his clunker de jour be missing...
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Physical Gold Delivery Failure By German Banks
The physical gold delivery failure to clients of Deutsche Bank who own Xetra-Gold, the gold exchange traded commodity, was confirmed yesterday by Deutsche Bourse who said that the inability to deliver...
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PIK Toggle Issuance Is Bubbling Over Again…Last Time Around This Was the...
In hindsight, the 2007 ramp in PIK Toggle note issuance was a pretty good indicator that the high-yield market was frothing over and the party was near an end. After all, it's probably not a good sign...
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Deustche Bank and the Anatomy Of A European Bank Run: Look at the Situation...
Following up on Deutsche Bank as Ground Zero?, I’d like to focus on the deteriorating credit metrics at Germany’s largest bank. To be absolutely honest, an educatied consumer is the at odds with the...
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P2P Meltdown Continues: LoanDepot’s CDO Collapses Just 10 Months After Issuance
We first noted Wall Street’s misguided plan to feed its securitization machine with peer-to-peer (P2P) loans back in May 2015 (see “What Bubble? Wall Street To Turn P2P Loans Into CDOs“). Obviously we...
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U.S. Startups Increasingly Tapping Debt Markets As VCs Pullback From...
After investing nearly $80 billion into startups in 2015, Venture Capitalists, growing slightly weary of the $1 billion valuations being handed out like candy to every 22 year old with an app that can...
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Goldman Sachs & Morgan Stanley Pull Off the Heist of the Decade, Bends Over...
President Obama implemented the Fiduciary Rule, which was supposed to go in effect next month. In short, it says financial advisors and salesmen had to put the best interests of thir clients ahead of...
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Saudi Arabia, Egypt, UAE, & Bahrain Cut Diplomatic Ties, Shut All Borders...
Just days after president Trump left the region, a geopolitical earthquake is taking place in the Middle East tonight as the rift between Qatar and other members of the (likely extinct) Gulf...
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Netflix Is Spending Twice As Much As Amazon On Content
When it comes to Netflix and its stratospheric (forward) valuation, the thesis is simple: the company is (so far) the undisputed leader in the arena of internet streaming. As the LA Times summarizes,...
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Tesla Upsizes Junk Bond Offering After Excess Demand
There’s covenant-lite and then there’s “zero covenant” junk debt, and moments ago Tesla just sold $1.8 billion of the former, upsizing what was previously expected to be a $1.5 billion issue. The...
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Shocking Admission From Global Head Of Strategy: “Our Clients Have Given Up...
For all the recent concerns about an “imminent” nuclear war with North Korea (not happening, according to the head of the CIA), which prompted a stunned reaction from Morgan Stanley which earlier today...
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Junk Bond Debt Covenant Quality Drops To All Time Lows
By Mark Rzepczynski of the Disciplined Systematic Global Macro Views blog Corporate spreads are tight and there is little room for further reduction given the absolute level of spreads. The reach for...
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Bill Blain: “Stock Markets Don’t Matter; The Great Crash Of 2018 Will Start...
Blain’s Morning Porridge, Submitted by Bill Blain of Mint Partners The Great Crash of 2018? Look to the bond markets to trigger Mayhem! I had the impression the markets had pretty much battened down...
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