—- SocGen’sExuberant Response ToTheTurkishAction: "GovernorBasci, YouHaveAvoided A Domino Crisis InEM" // ZeroHedge SocGen, via analyst Benoit Anne, had an almost immediate reponse to the Turkish central bank’s shock and awe action. Here it is: HatsOffToTheCBRT The CBRT did not disappoint tonight. The CBRT just announced a massive 425bp rate hike. GovernorBasci, youhaveavoided a domino crisis inEM. The policy response to severe financial stability risks was … Seguir leyendo SocGen’s Exuberant Response To The Turkish Action: “Governor Basci, You Have Avoided A Domino Crisis In EM”

—- We Are SleepwalkingTowards A CashlessSociety —- Shared via myfeedlyreader Seguir leyendo We Are Sleepwalking Towards A Cashless Society

—- WorldMarketsReactToTurkey’s 425bps RateHike // ZeroHedge Judging by the reactionfromSocGen and JPY crosses (and thus global equity markets), the Turkish Central Bank’s decision – totightenakaubertaper– has solved all the tapering, tantruming, turmoiling problems in markets. TRY obviously dumped on the news (now at 2.18 -2100 from highs). JPYcrossesinstantlyexplodedhigher, automaticallyliftingUS (Dow +60) andJapanese (NKY +110) stockfuturesmarketsbeforetheyclosed. Gold fell very modestly ($1). JPY continued to weaken and … Seguir leyendo World Markets React To Turkey’s 425bps Rate Hike

—- HollandePlays "MotherMay I"; Mish’s 5 GiantScissorStepsProposal; ForeignInvestmentinFranceFalls 77% // Mish’s Global EconomicTrendAnalysis With bloated labor costs, pension requirements, labor rules, strikes, CEOs held hostage (literally), and overall union inefficiencies, it’s no wonder ForeignInvestmentinFranceFell 77% in 2013. Releasing its first estimates for 2013 Tuesday, the United Nations Conference on Trade and Development said that while foreign investment in the European Union increased from 2012, inflows … Seguir leyendo Hollande Plays “Mother May I”; Mish’s 5 Giant Scissor Steps Proposal; Foreign Investment in France Falls 77%

—- Turkeyhikes, aggressively // FTAlphaville *TURKEY’S CENTRAL BANK RAISES OVERNIGHT BORROWING RATE TO 8.00% *TURKEY’S CENTRAL BANK RAISES OVERNIGHT LENDING RATE TO 12.00% *TURKEY’S CENTRAL BANK RAISES BENCHMARK REPO RATE TO 10.00% The overnight lending rate had been 7.75 per cent, the borrowing rate was 3.5 per cent and the repo rate 4.5 per cent. So — just a tad aggressive… Continuereading: Turkeyhikes, aggressively —- … Seguir leyendo Turkey hikes, aggressively

—- China’sFakeExportNumbersUnderCloseScrutiny // Mish’s Global EconomicTrendAnalysis China’s export numbers are so unbelievable that even mainstream media doesn’t believe them. Bloomberg has the story correct, but its title could use a bit more punch. Please consider China TradePuzzleRevived as HongKong Data Diverge China’s trade numbers, distorted by fake exports last year, are set to come under renewed scrutiny after a discrepancy between Hong Kong and Chinese … Seguir leyendo China’s Fake Export Numbers Under Close Scrutiny

—- WhyShaleOilBoosters Are CharlatansInDisguise // ZeroHedge Something has bothered me of late: why is the price of crude oil still elevated? Other commodities have taken a battering since 2011. Gold, copper and iron ore – all are way down off their peaks. But oil has seemingly defied gravity. And that’s despite increased supply from shale oil in the U.S., still soft demand particularly in the … Seguir leyendo Why Shale Oil Boosters Are Charlatans In Disguise