Silver as an investment

Category Archives: CDO

“They’re Ba-ack!” – Citi Says Synthetic CDOs May Reach $100 Billion In 2017, 5x Increase In 2 Years

35-year-old Jia Chen of Citibank probably has no idea where that title quote above came from.  That’s because she was roughly 4 years old when Poltergeist II hit theaters back in 1986… …that said, Citibank, as we noted a few weeks back, has every confidence that Jia is the perfect person to put in charge […]

How Much Is Equity Research Actually Worth? Probably Less Than You Thought

Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a ‘freebie’ in return for trading commissions. Of course, for wall street’s titans of finance, you know, the same guys who will look you straight in the […]

Blain: “The Bond Market Has Become A Series Of Crashes Followed By Rallies”

Submitted by Bill Blain of Mint Partners Blain’s Morning Porridge – Why Bond markets are going down and Markets have no memory “And everything around her is a silver pool of light, the people who surround her feel the benefit of it. It makes you calm…” Before delving into the collapse in global bonds on […]

The Secret History Of The Banking Crisis

Authored by Adam Tooze via ProspectMagazine.co.uk, Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? It is a decade since the first tremors of what would become the Great Financial Crisis began to […]

Goldman Issues First Warning On Q3 Results

Remember what Goldman said when it reported atrocious earnings two weeks ago, when it revealed that FICC revenues plunged by 40%? Here is a reminder: “During the quarter, Fixed Income, Currency and Commodities Client Execution operated in a challenging environment characterized by low levels of volatility, low client activity and generally difficult market-making conditions… During […]

Trump Concerned There Are Too Many “Goldman Guys” On His Team

Two days after democratic senators Elizabeth Warren and Tammy Baldwin sent a letter to Goldman CEO Lloyd Blankfein, asking if Goldman effectively runs the country through its extensive alumni links at the Trump administration, and requesting details on “lobbying” activities in the bank related to review of the Dodd-Frank Act and the Obama-era fiduciary rule […]

Goldman Launches ETF Replicating Top Hedge Fund Positions, There Is Just One Problem

Back in February we reported that despite its abysmal forecasting track record, Goldman was preparing to launch an ETF based on its proprietary tracker of the 50 most popular hedge fund positions, the Goldman Sachs Hedge Fund VIP (known internally as the GSTHHVIP). The proposed ETF was notable because It would mark the first time […]

Credit Card Delinquencies Creep Up To Highest Levels Since 2012 As Subprime Issuance Soars

As Obama’s “recovery” rolls along, the Wall Street Journal points out that the delinquency rates of subprime credit cards has surged to the highest levels recorded since 2012.  Moreover, per TransUnion data, delinquency rates on cards issued in 2015 are close to 3%, or roughly double the overall rate, indicating that consumers have grown increasingly […]

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 warned then that the voracious demand for P2P loans was a direct product of central bank policies that had sent investors searching […]

US Corporate Debt Has Doubled To $6 Trillion Since The Crisis: This Is Who Bought It

Yesterday, in the FOMC notes, the Federal Reserve made a stark admission: “several expressed concern that an extended period of low interest rates risked intensifying incentives for investors to reach for yield and could lead to the misallocation of capital and mispricing of risk, with possible adverse consequences for financial stability.” To this, Bank of […]