While broad-based contagion from Deustche Bank's disintegration is clear in European, US, and Asian bank risk, there is another major financial institution whose counterparty risk concerns just went vertical...
Credit Suisse...
Posted on 02/11/2016 6:17:20 AM PST by blam
Akin Oyedele
Feburary 11, 2016
Here we go again.
Major global stock markets were sharply lower on Thursday, with US futures also deep in the red ahead of the market open.
Near 8:56 a.m. ET, Dow futures were down about 250 points (1.6%), S&P 500 futures were down 29 points (1.6%), and Nasdaq futures were down 60 points (1.5%).
Investors were piling into gold for safety, with futures up 3%, or a whopping $36.30 an ounce to as high as $1,231.50, the strongest in a year.
US Treasurys — another safe-haven asset — were also getting a huge bid, pushing the yield on the benchmark 10-year note down 12 basis points to as low as 1.581%, a level it most recently touched in late 2012.
Later Thursday, Federal Reserve Chair Janet Yellen will continue her semiannual testimony on Capitol Hill.
On Wednesday at her first appearance, Yellen noted that the Fed was closely watching developments in financial markets and foreign economies for possible downside risks to the economy. She did not rule out or confirm an interest-rate hike in March, but she said the Fed was willing to slow down its path of rate increases if the economic data indicated doing so would be appropriate.
In all, her assessment of the economy was more or less unchanged: The economy is still expanding at a moderate pace, and the labor market is robust.
(snip)
(Excerpt) Read more at businessinsider.com ...
Gold up $48/oz.
Dow down 233.
And it’s early yet.
Altho the press is reticent to publish very much about that. Wonder why...
Oil at 4 cents a barrel!
Vicious deflation gripping the world.
Guys this is real,bank stocks are falling hard. If Deutsche Bank collapses all heck is going to break loose.
LOL!
While broad-based contagion from Deustche Bank's disintegration is clear in European, US, and Asian bank risk, there is another major financial institution whose counterparty risk concerns just went vertical...
Credit Suisse...
Lines Around The Block To Buy Gold In London; Banks Placing "Unusually Large Orders For Physical"
The Chinese are buying gold like there’s no tomorrow!
There is something that, possibly you, and most people need to consider.
Whether you, I, or the Chinese have bought or are buying anything, once you have “Bought” something, you are now a SELLER. The more you buy, the more you NEED to SELL !!!
I need to get in contact with people that I worked with at the FDIC. They may need some help "resolving" institutions with a large exposure to energy loans.
Sorry, but it beats the hell out of auditing federal contracts. The work is inconsequential because you know that any costs you question will be sustained by the contracting officer.
No... but the critters can eat them and then later once fattened up. I’ll shoot the critter.
I have been watching since about 7 this morning MST. It appears DJIA is going to settle at about a 2% drop and end at 15,600.
Tries to go lower and buyers step in and bring it back to the 15,600 range.
“buyers” = PPT (plunge protection team)
You're pretty much right on the money. It's about 15650 now.
I was watching Janet Yellen right before lunch--the longer she talked, the more the DJIA went down. It was pretty funny.
These things are more triggered by where institutional buyers have target buys set for certain stocks as I understand it. The number is coincidental to the math on the individual targets.
Now if bad news and per-market bashes continue, day after day, the flooring for the market can collapse.
If I was in metals, I would be selling mid-morning tomorrow as the price peaks.
Goldbug ping.
I was thinking just that....they’re running scared with the idea Trump ,Bush or Hillary may win this election....and you can’t blame them either, it’s too risky to wait and see.
A fitting swan song for The Kenyan’s regime
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