Silver as an investment

Category Archives: financial services

Tesla Upsizes Junk Bond Offering After Excess Demand

There’s covenant-lite and then there’s “zero covenant” junk debt, and moments ago Tesla just sold $1.8 billion of the former, upsizing what was previously expected to be a $1.5 billion issue. The deeply junk “B3/B-” rated bond was priced at par to yield 5.25%, with Goldman – who famously slashed its Tesla price target to […]

Frontrunning: August 7

Futures slightly higher after Dow’s record run (Reuters) Tillerson says U.S., Russia can settle differences (Reuters) Hot-Stock Rally Tests the Patience of Value Investors (WSJ) ‘Good Conservative’ Grassley Ramps Up His Panel’s Trump-Russia Probe (BBG) Brands Strike Back: Seven Strategies to Loosen Amazon’s Grip (WSJ) Oil slides from nine-week highs as market looks to OPEC […]

How Banks Hurt The Real Economy – FDIC’s Hoenig To Senate

Authored by Wolf Richter via WolfStreet.com,  "The real economy has little to gain, and much to lose.” When tighter regulations were imposed on the banks after the Financial Crisis, the largest among them, the very ones that threatened to bring down the financial system, began squealing. Those voices are now being heard by Congress, which […]

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 […]

Bill Blain: “There Is One Obvious Trigger That Could Lead To A Market Fall In The Second Half”

By Bill Blain of Mint Partners Politics – More Destabilizing Than You Think! “With comedy we can search for the profound…” Dark skies, torrential rain and thinking about putting the log-burner on.. Welcome to high-summer in England. Markets are thin and the crowds trying to clamber on the train were noticeably lighter this morning. (Actually, […]

It’s Your Money But You Can’t Have It: EU Proposes Account Freezes To Halt Bank Runs

Authored by Mike Shedlock via MishTalk.com, If there is a run on the bank, any bank in the EU, you better be among the first to get your money out. Although it’s your money, the EU wants to Freeze Accounts to Prevent Runs at Failing Banks. European Union states are considering measures which would allow […]

“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll At Wells

Wells Fargo is in boiling hot water. Again. One day after the NYT reported the latest major scandal involving Warren Buffett’s favorite bank, in which the bank was busted less than a year after its miss-selling fraud cost the former CEO his job, revealing that the bank charged some 800,000 customers for auto insurance they […]

Banks Are Scheming To Dominate A Future Cashless Society

Authored by Shaun Bradley via TheAntiMedia.org, Visa recently announced its new Cashless Challenge program, which offers $10,000 to restaurants willing to transition into accepting only digital payments.  As the largest credit card processor in the U.S., it’s no surprise Visa is spearheading this campaign. Under the guise of increasing transparency and efficiency, they’ve partnered with governments around the world to help […]

Morgan Stanley Triumphs Again: Posts Higher FICC Revenue Than Goldman Sachs

After yesterday’s stunning 40% plunge in Goldman’s FICC revenue, market watchers and MS shareholders were nervously anticipating the release of today’s Morgan Stanley Q2 earnings data. In retrospect, they had no reason to be worried, because moments ago MS reported revenue and EPS which both beat expectations, with Q2 EPS of $0.87 (est $0.76) on […]

Financial Martial Law

Authored by Chris Lowe via InternationalMan.com, Already, as an American, you are not free to spend your money as you see fit. JPMorgan Chase – the country’s biggest bank—has banned cash payments for credit card debt, mortgages, and car loans. It has also banned the storage of “any cash or coins” in safe deposit boxes. […]