Tag Archives: zerohedge

It was already a torrid day for commodity currencies, among which the MXN, or Mexican Peso, which were surging on today's latest crude short squeeze and then as if pulling a PBOC with just one intention - to crush the shorts - the Mexican Central Bank or Banxico, dealt a crushing blow on anyone short the MXN when it announced an unexpected 50 bps rate hike in the overnight rate to 3.75%. From the central bank: "The target for the overnight interbank funding rate is increased by 50 basis...

It was already a torrid day for commodity currencies, among which the MXN, or Mexican Peso, which were surging on today's latest crude short squeeze and then as if pulling a PBOC with just one intention - to crush the shorts - the Mexican Central Bank or Banxico, dealt a crushing blow on anyone short the MXN when it announced an unexpected 50 bps rate hike in the overnight rate to 3.75%. From the central bank: "The target for the overnight interbank funding rate is increased by 50 basis...

Submitted by SaxoBank's Dembik Christopher via TradingFloor.com, Currency stability is a prerequisite for China's economic transition Defending the yuan is prohibitively expensive – China cannot beat the market Progressive devaluation managed by PBoC is the most probable scenario for 2016 Remember that the country is on the capitalism learning curve Exchange rates will inevitably be a key discussion point at Shanghai G20 China has moved from being a net importer to a net exporter of...

Submitted by SaxoBank's Dembik Christopher via TradingFloor.com, Currency stability is a prerequisite for China's economic transition Defending the yuan is prohibitively expensive – China cannot beat the market Progressive devaluation managed by PBoC is the most probable scenario for 2016 Remember that the country is on the capitalism learning curve Exchange rates will inevitably be a key discussion point at Shanghai G20 China has moved from being a net importer to a net exporter of...

In the spring of 2015 we showed something unexpected: one of the biggest buyers, and holders, of AAPL stock was none other than the already quite troubled – in the aftermath of its disastrous Swiss Franc peg which ended up costing it tens of billions in losses – largest hedge fund in Switzerland, its central bank, the Swiss National Bank. What is curious is that unlike the Fed, the hedge fund also known as the Swiss National Bank not only proudly admits it purchases stocks, ETFs and...

As we noted last night, in what was the second clear example of sheer desperation by the Bank of Japan, the central banker formerly known as Peter Pan for his on the record belief that "he should fly", and as of this morning better known as Peter Panic, desperately tried to pull of his best "Draghi", up to and even stealing the ECB's trademark catch phrase, to wit: KURODA: POSSIBLE TO CUT NEGATIVE RATE FURTHER IF NEEDED KURODA: NO LIMIT TO MONETARY EASING MEASURES KURODA: WILL EXPAND EASING...

Having urged "don't panic" just 4 short months ago, it appears Nigeria just did just that as the global dollar short squeeze forces the eight-month-old government of President Muhammadu Buhari to beg The World Bank and African Development Bank for $3.5bn in emergency loans to help fund a $15bn deficit in a budget heavy on public spending amid collapsing oil revenues. Just as we warned in December, the dollar shortage has arrived, perhaps now is time to panic after all. In September,...

Well that did not last long. After initial exuberance over The BoJ's wishy-washy decision to adopt a 3-tiered rate policy including NIRP, markets have realized that without further asset purchases (which were maintained at the current pace), there is no ammo to lift stocks. An almost 200 point surge in Dow futures has been erased and Nikkei 225 has dropped 1000 points from its post BOJ highs... Dow futures have plunged... What a mess... And Nikkei has crashed over 1000 points... And...

« Le gain de plus de 4 milliards du 31 décembre 2015 n’en apparait que plus important… Il représente 4 fois le dividende versé et 2 fois les réserves restantes… sans cette journée providentielle il aurait donc été difficile de verser un dividende… Les accusations de publication de comptes erronés sont très graves surtout s’agissant d’une banque nationale. Attendons de voir comment Zero hedge étaye son affirmation mais la crédibilité de la BNS qui est déjà écornée ne sortirait pas indemne...

La BNS a annoncé dans un communiqué une perte de 23 milliards de francs. L’article de Zerohedge remet en question sa méthode de calcul qui semblerait présenter des écarts avec les estimations du site. Selon eux, il manquerait quelques milliards à la perte annoncée par la BNS, notamment sur les dettes publiques qui constituent la majeure partie des actifs du bilan de l’établissement… Entrer une légende « Sadly, as went the soundness of the SNB, so went the soundness of the Swiss franc...