QE Is Causing A Security Shortage

QE Is Causing A Security Shortage

Between September of 2019 and today, the Fed increased the size of the SOMA portfolio from $3.56 trillion to $6.2 trillion, an increase of $2.64 trillion. And although the Fed effectively absorbed roughly the same amount of net new Treasurys issued by...
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Banks Are Evading U.S. Derivatives Rules by Making Trades at Foreign Subsidiaries

Banks Are Evading U.S. Derivatives Rules by Making Trades at Foreign Subsidiaries

On May 30, with little mainstream media attention, four European academics published a report on how some of the largest Wall Street banks (all of whom received massive amounts of secret Federal Reserve bailout money during the 2007 to 2010...
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Fed Extends Emergency Lending Programs Through End Of Year

Fed Extends Emergency Lending Programs Through End Of Year

US stock prices are at record highs and credit spreads near record lows amid hopes and prayers for the v-shaped recovery which has already sent US macro surprise data soaring. But, it appears The Fed is not buying the bounce...
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Hedge Fund Flows Are All That Matter

Hedge Fund Flows Are All That Matter

Hedge Fund Flows Are All That Matter, New Study Finds. With every passing day, the bizarre central banks orchestrated freakshow that was once known as the “market” gets even more bizarre. And we use the term “market” in its loosest, l...
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FED is Tightening, Repo Loans Hit Zero

FED is Tightening, Repo Loans Hit Zero

FED is Tightening, Repo Loans Hit Zero; FED Balance Sheet Shrinks by $248 Billion in a Month. Beginning on September 17 of last year, months before the first COVID-19 case had been discovered anywhere in the world, the Federal Reserve...
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Head Of NY Fed’s Trading Desk: “Fed’s Purchases May Stop Entirely”

Head Of NY Fed’s Trading Desk: “Fed’s Purchases May Stop Entirely”

Head Of NY Fed’s Trading Desk Says If Markets Continue Improving, Fed’s Purchases May Stop Entirely. Stocks have gone nowhere since the Fed’s balance sheet started shrinking modestly in mid-June. This morning, Miller Tabak picked up on this...
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JPMorgan Turns Bearish

JPMorgan Turns Bearish

JPMorgan Turns Bearish, Sees Unattractive Risk-Reward For Stocks In H2. It may come as a surprise to some, but just two weeks after JPMorgan said it was turning bullish on the US, officially upgrading US equities to Overweight after holding a missing...
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$18 Trillion In Global Stimulus In 2020

$18 Trillion In Global Stimulus In 2020

Over $18 Trillion In Global Stimulus In 2020, 21% Of World GDP – the latest observations from BofA chief investment officer, Michael Hartnett who concluded that there is just one bull market to short – namely credit – “and the Fed wo...
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Investor Legend Jeremy Grantham Is “Amazed” At This Unprecedented Stock Bubble

Investor Legend Jeremy Grantham Is “Amazed” At This Unprecedented Stock Bubble

The generally cheerful investing icon Jeremy Grantham unleashed fire and brimstone, taking his $7.5 Billion portfolio to a net short position for the first time since the Global financial crisis, and summarizing his dire assessment of the current unprecedented...
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The FED Has Monetized All Treasury Issuance In 2020

The FED Has Monetized All Treasury Issuance In 2020

There is no more controversial entity in the US, more inflammatory yet out of the spotlight of public outrage, than the Federal Reserve: it is the FED’s actions over the past 108 years – and especially over the past decade...
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ECB Preparing To Run QE Without Bundesbank

ECB Preparing To Run QE Without Bundesbank

The shape of Europe’s massive monetary injection may change dramatically in the coming months. According to Reuters, citing four sources, the ECB has drafted contingency plans to carry out its multi-trillion QE programme without the Bundesbank in case Ge...
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Morgan Stanley Is The Fifth Of Six Major U.S. Banks To Refuse To Finance Oil Drilling In Arctic

Morgan Stanley Is The Fifth Of Six Major U.S. Banks To Refuse To Finance Oil Drilling In Arctic

After nine years, the U.S. banks finally know the reason. Morgan Stanley the fifth of six major U.S. banks to announce that they would not fund any future oil drilling in Arctic refuges, bringing the total list of major Arctic drilling divesters...
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“We Print It Digitally”, Powell Vows “Lot More We Can Do”

“We Print It Digitally”, Powell Vows “Lot More We Can Do”

It took Jerome Powell just two days to confirm what analysts said late on Friday, namely that with the Fed expected to boost QE by over $3 Trillion (assuming Powell doesn’t cut rates negative), the Fed chair said that “there’s...
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U.S. Financial System “Warning System” Failed to Flash Warning as Fed Pumped $6 Trillion Emergency Liquidity into Wall Street

U.S. Financial System “Warning System” Failed to Flash Warning as Fed Pumped $6 Trillion Emergency Liquidity into Wall Street

The Office of Financial Research (OFR) was created under the Dodd-Frank financial reform legislation of 2010 to keep the Financial Stability Oversight Council (F-SOC) informed on emerging threats that have the potential to implode the financial system — as o...
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BlackRock Begins Buying Junk Bond ETFs For The FED Today

BlackRock Begins Buying Junk Bond ETFs For The FED Today

BlackRock begins buying junk bond ETFs for the FED today and it’s already at work for the Central Bank of Israel. It’s off to the races today for BlackRock. The New York Fed, with authority from the Federal Reserve Board...
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