BoE governor Andrew Bailey said on Wednesday that the central bank stands ready to pump unlimited amounts of money into the economy.
If traders are looking for central bankers to calm nerves they will have to wait, because in the past two days not an hour seems to pass without some central bank freaking out and announcing an emergency easing measure, many of which pulled right out
Fed Expands Dollar Swap Lines With Nine More Central Banks Amid Unprecedented Dollar Short Squeeze
There we have it folks. The next round in the Crunch is here, and Central Banks have suddenly started saying that a Gold Standard will be necessary to start anew.
On November 6, 2000, then US presidential candidate George W. Bush told a crowd of cheering supporters, "they misunderestimated me."
Bazooka #1 was an epic dud. Here comes Bazooka #2.
"The problem with socialism is eventually you run out of other people's money." -- Margaret Thatcher
The Fed keeps trying things hoping that something will stick.
Here Is One Bank's Answer
With the Fed telegraphing an all out capital markets panic as the Fed could not wait a mere three days until the scheduled FOMC meeting to rush out the biggest monetary bazooka in history which proved to not be enough, the rest of the developed world
With Americans having far bigger concerns on their minds, we doubt many will have time for prayer today, although there is one person who could do with some divine assistance: Fed chair Jerome Powell.
As the ultra rich Snake Plisken out of the soon-to-be quarantined Manhattan - where at least one bank has are already run out of $100 bills - to fortify themselves against the viral zombie peasant hordes in their impregnable castles in the Hamptons
, but the Real Cause is Decades of Money Creation by the Fed
First, the European Central Bank tried and failed to calm the market. Then, the Fed brought out the bazooka and it turned out to be a dud.
After disappointingly not cutting rates even more negative than they already are - because that was working so well - ECB boss Christine Lagarde did, however, open the floodgates with some more liquidity facilities.
Surprising many who were expecting a rate cut from the ECB this morning, moments ago Christine Lagarde announced that rates would remain unchanged, with the all important deposit rate unchanged at -0.50%.
Despite Lagarde's increase in liquidity - but no further rate cuts - European banks are a bloodbath, crashing to an all-time record low this morning...
In a stunning report published this morning by BofA's Marc Cabana, the rates strategist warns that the US Treasury market is no longer functioning properly, and will "likely requires a rapid & large near-term policy response from the US Treasury or F
Earlier today, we reported that Boeing shocked the investing community when it announced that due to "market turmoil", it would immediately draw down on its full $13.825 revolving credit facility,
After a record 11-year, 357% surge off the March 6th, 2009 lows, The Dow Jones Industrial Average's longest bull-run in history came to an end today (two days after its 11th birthday) with its first 20% - bear market - drop.
Last week, the Federal Reserve responded to Wall Street's coronavirus panic with an "emergency" interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month.
Yesterday, when showing the sudden spike in the FRA/OIS spread - a key gauge of banking-sector risk which measures dollar shortages - we warned that liquidity in the market is virtually nil quoting a host of traders who confirmed that it was next to
It is certainly safe to say it has been a day of low-conviction trading.
The collapse in bond yields, exacerbated by the crash in oil prices, marks an end to the era of trust in central banks...
With energy junk bonds crashing...
It's been a rough two weeks in bond markets, to say the very least.
The New York Federal Reserve said Monday that it will increase the amount of money it is offering to banks for their short-term funding needs.
Jahangir Hajiyev, former chairman of the International Bank of Azerbaijan, used a tangled web of shell companies to move millions out of the bank. Now, decades after his scheme began, the astounding details of his brazen fraud are starting to come to
The 3-month Treasury bill's equivalent yield has plunged, absolutely plunged. It was 1.45% last Thursday. Today? All of 45 bps. A one-hundred basis point drop in six trading sessions. One hundred. Six days.
In this episode, Tim and John examine what's behind the recent market volatility, and what to consider when examining their weekly/monthly performance.