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Fed Launches First Currency War Salvo, Tells ECB Not To Push Too Far

zerohedge.com / by Tyler Durden / 10/31/2014 11:33

Now that The Fed is (however briefly) out of the money-printing business, it appears to have turned its attention to the rest of the world’s “despicable monetary policy” actions and fired what seems to be the first warning shot of ‘currency wars 2.0′, as MarketNews reports:

[...]

Shocking Bank Of Japan Trick And QE Boosting Treat Sends Futures To Record High

zerohedge.com / by Tyler Durden / 10/31/2014 07:05 -0400

Two days ago, when QE ended and knowing that the market is vastly overstimating the likelihood of a full-blown ECB public debt QE, we tweeted the following:

It's all up to the BOJ now

— zerohedge (@zerohedge) October 29, 2014

Little did we know [...]

Gold Price Extends Break Down, Dollar Extends Breakout

goldsilverworlds.com / an Excerpt from the Daily StockCharts.com newsletter / October 30, 2014

The end of QE is bullish for the Dollar. Note that the Fed has ended QE and the European Central Bank (ECB) is threatening QE. This is Dollar bullish and Euro bearish. The US Dollar ETF (UUP) held its support zone [...]

The Wrath of Draghi: First German Bank Hits Savers with Negative Interest Rate

wolfstreet.com / by Wolf Richter / October 30, 2014

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over [...]

Don’t Show The “Deflation Isn’t Going To Happen” ECB Germany’s Declining October Prices

zerohedge.com / by Tyler Durden / 10/30/2014 07:52 -0400

Remember when this past weekend, as part of its stress test “worst case” scenario, in all its wisdom the ECB decided not to stress test a deflationary outcome in Europe’s immediate future…

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Sudden Bout Of Risk-Offness Sends European Shares Sharply Lower, US Futures Not Happy

zerohedge.com / by Tyler Durden / 10/30/2014 07:00 -0400

The best summary of the morning after the Fed’s official end of QE3 comes from DB’s Jim Reid, and is as follows: “The surprises from last night’s FOMC statement was not that the Fed wants to be more hawkish than the market currently prices in [...]

Median Nightmare

blog.milesfranklin.com / Andrew Hoffman / October 29th, 2014

In the run-up to this afternoon’s supposed “end of QE”, “mainstream madness” has reached a fever pitch – as has TPTB’s “manipulation, jawboning, and prayer.” Humanity’s dark side is fully visible in articles like “Yahoo! Finance’s illustration of QE “success”; a panel of sub-humans attacking Peter [...]

Focus on Fed, but New Inputs for BOJ and ECB

marctomarket.com / by Marc Chandler / October 29, 2014

The market is generally expecting a dovish FOMC statement. We have argued that it will most likely be little changed, except for modification relating to the asset purchases. Keen interest will be on its references to inflation.

While the breakeven rates have fallen, the 5-year/5-year forward [...]

As the Eurozone Stalls, China Cuts the Red Tape

news.goldseek.com / By: Frank E. Holmes / 28 October 2014

Forty-four percent. That’s the alarming unemployment rate for those aged 15 to 25 in Italy, where I traveled recently to meet with other global chief executives and business leaders.

The reason for Italy’s high youth unemployment? Tortuous red tape, high taxation and thuggish unions. Many [...]

Do Howls From Rome Prove Anything?

acting-man.com / Pater Tenebrarum / October 28, 2014

Italian Bankers are Not Amused

Italy’s banks were among the hardest hit by the ECB’s “comprehensive assessment” and the associated demands to increase their capital. The protests of Italian banks which were even echoed by the Bank of Italy (i.e., Italy’s national central bank) are widely [...]

Omniscient Federal Reserve Captures The Capital Market, For Now. Gold Beckons.

goldcore.com / By Stephen Flood / 28 October 2014

A cursory glance at the various financial news media this morning shows nothing particularly unusual for these unusual times. The ECB have paraded a list for stress tested banks and the market shrugged. However, there is a disturbing thread running through most of the stories [...]

On Traders’ Minds This Morning

zerohedge.com / by Tyler Durden / 10/28/2014 07:35 -0400

A summary of the key things on traders’ minds this morning, as reported by Peter Garnry, head of equity strategy at Saxo Bank

Record short selling in Japanese equities… with around 35% of daily trading volume being shorted. Normally the most shorted single stocks outperform the [...]

Don’t Buy A Home: You’ll Get Burned

theautomaticearth.com / by Raúl Ilargi Meijer / October 27, 2014

Albert Freeman Effect of gasoline shortage in Washington, DC 1942

Europe had hundreds of inspectors check 130 banks for a year in that stress test. Who do you think picked up the tab for that? And what did Europe’s taxpayers get in return? As [...]

Stocks End Unch As ECB Rumor Trumps Quadruple Whammy Data Miss

zerohedge.com / by Tyler Durden on 10/27/2014 16:05

Despite the best efforts of ECB QE rumor-mongering, US equities could do no better than end unch (though Trannies are no rallying on lower oil prices). The early tumble on a quadruple whammy of bad macro data (misses for Service PMI, Dallas Fed, Pending Home Sales and [...]

World’s Oldest Bank Shares Suspended Twice During Trading Day

armstrongeconomics.com / by Martin Armstrong / October 27, 2014

Monte dei Paschi shares were suspended twice throughout today. At one stage down 22% currently trading down 18%. Peripheral bond markets behaving themselves only Italian BTP’s were wider by 7bp’s. The European banking crisis is still in full bloom. What the ECB will not admit [...]

Stocks Spike On Reuters’ “ECB Does QE” Leak Du Jour

zerohedge.com / by Tyler Durden / 10/27/2014 10:54

It never gets old… Stocks have spiked – leaving all other asset classes in the dust – as Reuters unleashes their latest rumor:

ECB STIMULUS MAY LACK DESIRED SCALE, QE AN OPTION ACCORDING TO SOURCES: REUTERS

Reuters adds that the ECB plan to buy private sector assets [...]

ECB Bought Just EUR1.7 Billion Covered-Bonds Last Week

zerohedge.com / by Tyler Durden / 10/27/2014 10:41

According to an ECB-leaked spreadsheet (now confirmed), the impotent omnipotent central bank bought a mere EUR1.7 billion of covered bonds last week (which was largely expected) according to Bloomberg. This somewhat inglorious start to the ECB’s efforts to engorge its balance by another trillion or so [...]

Another Unbelievable Stress-Free Test; Whitewash Math and Deferred Tax Assets

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Sunday, October 26, 2014 11:36 PM

In an effort to fool the public into believing the latest round of bank stress tests were actually designed to find stress, the ECB found 25 scapegoats, with the biggest losers in Italy and Greece.

Interested parties may wish to slog through the [...]

ECB Stress Again Fails To Inspire Confidence As Euro Stocks Slide After Early Rally; Monte Paschi Crashes

zerohedge.com / by Tyler Durden / 10/27/2014 06:58 -0400

It started off so well: the day after the ECB said that despite a gargantuan €879 billion in bad loans, of which €136 billion were previously undisclosed, only 25 European banks had failed its stress test and had to raised capital, 17 of which had [...]

28/10/2014: Page 75… ECB Washes Out Its Big Bazooka QE with New NPLs…

trueeconomics.blogspot.com / by Dr. Constantin Gurdgiev / October 27, 2014

In the previous (lengthy) post I covered my view of the ECB stress tests results. But, per chance, you have missed two core points on these, here they are, in a neater summary:

Point 1: Stress tests are weak compared to expectations and independent analysts’ [...]