—- ShockAndOuch: Turkish Central BankInterventionNowFullyFaded As Lira CollapseReturns // ZeroHedge Update: full meltdown mode now: Yesterday, themomentwhentheTurkish Central Bankinterventionwas jinxed was clearly marked by SocGen’s fawning Benoit Anne, who said "In any case, I definitely feel much better about the TRY, at least on a tactical basis. Hence we just entered a long TRY/ZAR targeting a tactical move to 5.10. TheTRY crisis isover." To which … Seguir leyendo Shock And Ouch: Turkish Central Bank Intervention Now Fully Faded As Lira Collapse Returns

—- Venezuela DevaluesBolivarByAnother 44% ForSome, Still 600% HigherThanBlackMarketDueTo 50% Inflation // ZeroHedge Less than a year ago, Venezuela shocked the world when it launchedthe "firstnuke" in the ongoing currency wars (which despite having dropped off the front pages, have certainly not ended), by devaluing its currency, the Bolivar from 4.30 to the USD to 6.30, in the process crushing the profits of many companies that … Seguir leyendo Venezuela Devalues Bolivar By Another 44% For Some, Still 600% Higher Than Black Market Due To 50% Inflation

—- EmergingmarketsforcedtotightenbyUSandChinesemonetarysuperpowers // AmbroseEvans–Pritchard – Financeandbusinesscomments The global chain reaction resembles what happened in the East Asia crisis in 1997-1998 when domino effects swept the region —- Shared via myfeedlyreader Seguir leyendo Emerging markets forced to tighten by US and Chinese monetary superpowers

—- Zillow: Case-ShillerHousePriceIndexexpectedtoshow 13.5% year–over–yearincreaseinDecember // CalculatedRisk The Case-Shiller house price indexes for November were released today. Zillow has started forecasting Case-Shiller a month early – and I like to check the Zillow forecasts since they have been pretty close. It looks like another very strong month … From Zillow: Case-ShillerForecast: ApprieciationRemainsStrong The Case-Shiller data for November came out this morning, and based on this … Seguir leyendo Zillow: Case-Shiller House Price Index expected to show 13.5% year-over-year increase in December

—- ArgentinePricesSoarFollowing Peso DevaluationWhichOnlyBenefits 20% OfPopulation // ZeroHedge The big story last week was the rapid devaluation of the official Argentine Peso (abbreviated, perfectly enough, ARS) exchange rate, whichtumbledby 17% overnightfrom USDARS 6.8 to over 8.0, when the government decided to liberalize the exchange regime and "ease" capital controls, allowing citizens to purchase dollars in hopes of stabilizing the currency and halting the ongoing outflow … Seguir leyendo Argentine Prices Soar Following Peso Devaluation Which Only Benefits 20% Of Population

—- 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%