Earnings Season Starts With A Dud, Stocks Drop

Easy come, easy go when it comes to this week’s gains in stocks and oil. Chicago Fed President Charles Evans may have ruined it for everyone in Sydney overnight where he made the following comments in a speech: “A December move could be fine -- it depends on the ultimate strategy of whether or not…

Assessing Market Risk As Correlations Rise, Valuations Become More Stretched

Leave it to Goldman to come out cautious on equities and overweight cash on a day when stocks rally and turn positive for the month and the Nasdaq 100 hits an all-time record high. Here’s what the bank had to say on Friday: “We stay defensive in our asset allocation and keep our Overweight in…

Trump Comments, Absurd Debate, Empty Oil Freeze Promises Lift Stocks

Despite Donald Trump’s supposedly “better” (and that’s a relative term) performance in last night’s debate, the market is pretty clearly confident that the leaked tape of the billionaire’s “locker room talk” was the death knell for his campaign as stocks rallied in Europe and jumped triple digits out of the gate on Wall Street. There’s…

Jamie Dimon Says Deutsche Bank Is Fine

OK, so we’ll admit it. Despite what we said earlier, there were a few things going on today besides Deutsche Bank. For one thing, two people posing as police officers (ever seen The Town?) apparently robbed Kim Kardashian of $8 million in a hotel room in France. Now we don’t know where they think they…

John “Cryin’”: Deutsche Bank Failure Speculation Dominates Headlines

To quote Bill Murray from Groundhog Day, “well it’s Monday…. Again.” And to paraphrase the same dialogue “....and that must mean we’re talking about Deutsche Bank and OPEC. You want a winter prediction?  I'll give you a winter prediction. It's gonna be cold. It's gonna be gray. And it's gonna last you for the rest…

US Election Just Took A Backseat To Germany

Ok, so Deutsche Bank is all you need to know about today. We know we wrote about it earlier, but this is a major, major concern. Consider this from ABC News (and we don’t quote them as some kind of financial authority, but rather to emphasize the magnitude of the problem): “Germany's biggest bank is…

Oh, Look! Deutsche Bank Rallies 14% on A $5 Billion Settlement

Well, what goes up must come down and we suppose what goes down must come up - unless you’re Lehman of course. For some reason - and we know why - yesterday’s market boogeyman became today’s market savior in a testament to how ridiculous this whole enterprise has become. Here’s the headline summary for those…

Some Questions For WSJ’s Oil “Axe”

WSJ’s Summer Said has (probably inadvertently) found herself in the position of the proverbial “axe” on oil prices. According to her Twitter profile she’s “a Middle East Energy and OPEC Correspondent, The Wall Street Journal. Former Reuters Correspondent and actress.” To be clear, we have our connections there, but we’ve never spoken to her. Now…

“Iceberg Right Ahead!” Deutsche Bank In Deep, Deep Trouble

Well, don’t say we didn’t warn you on Wednesday. It was all about Deutsche Bank today as the ADRs crashed to record lows on reports hedge funds are pulling funds from the bank’s prime brokerage. In other words, there’s a run on Deutsche Bank. So for once this... ...didn’t matter. No OPEC deal was going…

OPEC “Deal” Boosts Risk; We Call False Alarm

Well, what can you say? OPEC hit everybody with a haymaker. Here’s the bullet point summary via Bloomberg: “WTI trades near $45/bbl as market focuses on meeting between OPEC ministers in Algiers. Algeria proposes 796k b/d OPEC cut at meeting.” OPEC’s strategy of pushing out high-cost competitors is at a “turning point” as members max…