Merrill Lynch Headlines

  • DiMartino Booth Exposes The Fed's Biggest Fear

    Via Greg Hunter's USA Watchdog blog, Former Federal Reserve insider Danielle DiMartino Booth says the record high stock and bond prices make the Fed nervous because it’s fearful of popping this record high credit bubble. DiMartino Booth says, “The Fed’s biggest fear is they know darn well this much credit has built up in the background, and the ramifications of the un-wind for what has happened since the great financial crisis is even greater than what happened in 2008 and 2009.  It’s global...

    @zerohedge
  • UK Trader Fined 60,000 Pounds For Outsmarting Algos

    Yet another UK trader is being punished by overzealous regulators for an accomplishment that should instead have earned him accolades: Outsmarting the machines. In a case that echoes some of the circumstances surrounding the scapegoating of former UK-based trader Nav Sarao, former Bank of America Merrill Lynch bond trader Paul Walter has been fined 60,000 pounds by the FCA for a practice that regulators call ‘algo baiting’. Algorithm baiting is similar to spoofing – a practice that has been...

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  • JPMorgan Capitulates, May Help Clients Trade Bitcoin Futures (For A Fee)

    On September 12, Jamie Dimon caused a stir (and selloff) within the cryptocurrency community when he lashed out at bitcoin, calling it a "fraud" which is "worse than tulip bulbs, predicting "it won't end well", will "blow up" and "someone is going to get killed." Oh, and just to make it clear, "any JPM trader caught trading bitcoin" would be "fired for being stupid." After briefly plunging, since then the price of Bitcoin has doubled, and earlier today, Bloomberg quoted money manager David Kotok...

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  • Why Australia's Economy Is A House Of Cards

    Authored by Matt Barrie via Medium.com, Co-authored with Craig Tindale. I recently watched the federal treasurer, Scott Morrison, proudly proclaim that Australia was in “surprisingly good shape”. Indeed, Australia has just snatched the world record from the Netherlands, achieving its 104th quarter of growth without a recession, making this achievement the longest streak for any OECD country since 1970. Australian GDP growth has been trending down for over forty yearsSource: Trading...

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  • It's A 'Turkey' Market

    Authored by Lance Roberts via RealInvestmentAdvice.com, With Thanksgiving week rapidly approaching, I thought it was an apropos time to discuss what I am now calling a “Turkey” market. What’s a “Turkey” market?  Nassim Taleb summed it up well in his 2007 book “The Black Swan.” “Consider a turkey that is fed every day. Every single feeding will firm up the bird’s belief that it is the general rule of life to be fed every day by friendly members of the human race ‘looking out for its best...

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  • Indian Economy: India to overtake Japan to become third largest economy by 2028: Report

    "We see India crossing Germany and Japan in nominal GDP in dollar term by 2028. This assumes that the Indian economy grows at 10 per cent (in nominal US GDP) in the next decade, well ahead of Japan's 1.6 per cent," a Bank of America Merrill Lynch report said.

    m.timesofindia.com
  • Federal Prosecutors Are Running Amok

    Authored by William Anderson via The Mises Institute, It is hard to know where to begin regarding the charges against Paul Manafort, the former campaign director for Donald Trump’s successful presidential bid, but having read the indictments and knowing some background about both the case and the investigation, I cannot say it is exactly a high point of American justice. In fact, when former FBI chief Robert Mueller first was appointed as a special prosecutor to look into the allegations that...

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  • This Ain't Your Grandfather's Capitalism

    Authored by David Stockman via Contra Corner blog, The financial system is loaded with anomalies, deformations and mispricings - outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the "risk-free" US treasury bond owing solely to the depredations of the ECB. Indeed, madman Draghi has purchased $2.6 trillion of securities since launching QE in March 2015, and during the interim has actually bought more government...

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  • German Investors Now World's Largest Gold Buyers

    German Investors Now World's Largest Gold Buyers - German gold demand surges from 17 ton-a-year to a 100 ton-plus per year- €6.8 Bln spent on German gold investment products in 2016, more per person than India and China- Germans turned to gold during financial crises and ongoing euro debasement- Evidence of latent retail demand on increased economic concerns- "Gold fulfils an important long-term, wealth preservation role in German investors’ portfolios" Editor: Mark O'Byrne India and China...

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  • Broadcom Offers Hostile $130 Billion Deal To Buy Qualcomm In Largest Tech Acquisition In History

    As was leaked by Bloomberg on Friday afternoon, this morning communications chipmaker Broadcom, which just last week announced it would move its headquarters from Singapore to the US (to make any future mega deals easier) said it offered to buy smartphone chip supplier Qualcomm Inc for $70 per share in a transaction valued at $130 billion, including $25 billion net debt, in what would be the biggest technology acquisition ever. Broadcom's bid consists of $60 in cash and $10 in shares,...

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  • Bitcoin, Blockchain, And Bank Of America

    Authored by Chris Whalen via The Institutional Risk Analyst, During our travels over the past two weeks, we tried to keep up with the financial press, particularly the growing sense of unease felt by many observers with the relentless rise of valuations for equities and other asset classes engineered by the Fed and major central banks.  Suffice to say the number of queries we receive about bank stocks being overvalued has soared. Last week saw some real gems from the world of crypto currencies. ...

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  • The Fed Balance Sheet Unwind Myth

    Authored by Lance Roberts via RealInvestmentAdvice.com, Since the beginning of the year, the Federal Reserve has been heavily discussing, warning rather, they were going to begin to “unwind” their gargantuan balance sheet. As Michael Lebowitz recently penned in his subscription-only article “Draining The Punchbowl:” “Since QE was first introduced, the S&P 500 has gained 1,546 points. All but 355 points were achieved during periods of QE. Of those remaining 355 points, over 80% occurred after...

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