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Links for 05-18-2013
2 days ago - Economist's View - May 18, 2013 3:03 AM
Too Much Talk About Liquidity - Paul Krugman The Real Scandal and Systemic Abuse of Power - Robert Reich What's the Variance of a Sample Variance? - Dave Giles What Rational Really Means - Scientific American A Defense of the...
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4
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Big Bank Phobia: Liquidity, Stupid, Not Just Capital
2 days ago - TheStreet - May 17, 2013 8:00 AM
This is the second of a three-part series rebutting the three most popular approaches toward lowering the systemic risk of large U.S. banks. Read part one, Not Too Big to Fail.NEW YORK (TheStreet) -- The Federal Reserve's annual stress test process h
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Big Bank Phobia: Liquidity, Stupid, Not Just Capital
2 days ago - TheStreet - May 17, 2013 8:00 AM
The Federal Reserve's annual stress tests need to incorporate liquidity, since overnight funding lockups and bank runs cause bank failures. Click to view a price quote on BAC. Click to research the Banking industry.
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Beware Long-Term Damage From Stock Market Bubble Forming Now
2 days ago - Seeking Alpha - May 17, 2013 7:30 AM
In the prior essay in this series, I demonstrated that US systemic liquidity is at frighteningly high levels and that this could become a key factor that enables the formation of a stock market bubble, as risk aversion and liquidity preference declin
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Beware Of Long-Term Damage From Stock Market Bubble Forming Now
2 days ago - Seeking Alpha - May 17, 2013 7:30 AM
In the prior essay in this series, I demonstrated that US systemic liquidity is at frighteningly high levels and that this could become a key factor that enables the formation of a stock market bubble, as risk aversion and liquidity preference declin
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Links for 05-17-2013
3 days ago - Economist's View - May 17, 2013 3:03 AM
Just How Useless Is the Asset-Management Industry? - Justin Fox The myth of liquidity and bubbles in financial markets - Antonio Fatas Surprise! Inflation is too low almost everywhere on earth - Neil Irwin Cuddly or not, the design of...
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TABLE-India cbank says morning repo bids at 562.40 bln rupees
3 days ago - Reuters - May 17, 2013 1:49 AM
May 17 (Reuters) - The Reserve Bank of India said on Friday it accepted all 28 bids for 562.40 billion rupees ($10.26 billion) at its three-day morning repo auction, through which it injects liquidity into the banking system. ------------------------
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JC Penney in $300m loss as sales decline
3 days ago - FT - May 16, 2013 5:15 PM
Ullman has sought to allay investor concerns over liquidity by bolstering the balance sheet. JC Penney said it had $821m of cash and cash equivalents
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ANALYSIS-Liquidity issues and lawsuits hit Mexico's homebuilders
3 days ago - CNBC - May 16, 2013 2:19 PM
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Update-Moody's liquidity stress index rises from record low but far from historical average
3 days ago - Reuters - May 16, 2013 9:25 AM
Liquidity-Stress Index
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Update-Moody's liquidity stress index rises from record low but far from historical average
3 days ago - Reuters - May 16, 2013 9:25 AM
Liquidity-Stress Index
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German finmin calls excess market liquidity a "placebo"
3 days ago - Reuters - May 16, 2013 6:18 AM
BERLIN, May 16 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Thursday central banks had pumped far too much liquidity into the financial markets and warned against zero interest...
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Volcker: Government Makes Up 35% Of GDP, Mortgage Markets Are Now A State 'Subsidiary'
4 days ago - Forbes - May 15, 2013 2:31 PM
Former Fed Chairman Paul Volcker warned of the risks of an asset bubble forming given the incredible amount of liquidity the Bernanke Fed has injected into the market, even though he said banks are substantially stronger than before the crisis on Wed
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4
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Visualizing The Taper
4 days ago - ZeroHedge - May 15, 2013 12:32 PM
When the noisy-as-you-like-prone-to-epic-revisions non-farm-payrolls figure hit on May 3rd, it seems we crossed the streams. From a regime where Fed liquidity was expected to be large for long, discussions started to turn to good-is-bad and Fed 'Tape
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Play It As A Recovery Or A Bubble? Both.
4 days ago - Forbes - May 15, 2013 11:10 AM
Recovery or bubble? Stock and housing prices are rising, but the real economy refuses to play along. The Fed?s history-making liquidity gambit may have induced a impressive revival ? or a false spring that merely delays the true reckoning
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Nigeria naira eases on importers' dollar demand
4 days ago - Reuters - May 15, 2013 10:43 AM
LAGOS, May 15 (Reuters) - The Nigerian naira eased against the U.S. dollar on the interbank market on Wednesday as strong demand from importers of fuel and other goods drained liquidity in the market, traders said.
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TABLE-India cbank says reverse repo bids fall to 50 mln rupees
4 days ago - Reuters - May 15, 2013 8:23 AM
May 15 (Reuters) - The Reserve Bank of India said on Wednesday said it accepted the sole bid for 50 million rupees at its one-day reverse repo auction, through which it absorbs excess liquidity from the banking system. Earlier in the day, it accepted
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TABLE-India cbank says repo bids rise to 1.1 trln rupees
6 days ago - Reuters - May 14, 2013 1:46 AM
May 14 (Reuters) - The Reserve Bank of India said on Tuesday it accepted all 34 bids for 1.1 trillion rupees ($20.1 billion) at its one-day repo auction, through which it injects liquidity into the banking system. ------------------------------------
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China's main money rate hits 2-month low, shrugs off PBOC liquidity drain
6 days ago - Reuters - May 14, 2013 12:56 AM
* Benchmark 7-day money rate falls 10 bps to 2.8 pct * PBOC conducts net drain of 21 bln yuan from money markets * Ample liquidity to keep money rates low * PBOC set to continue draining money from...
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Update-Moody's: Regulatory reforms will transform MMF industry and drive growth of alternative liquidity products
6 days ago - Reuters - May 13, 2013 6:16 AM
Money Market Industry
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Update-Moody's: Regulatory reforms will transform MMF industry and drive growth of alternative liquidity products
6 days ago - Reuters - May 13, 2013 6:16 AM
Money Market Industry
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RLPC-US loan market lures European buyouts
6 days ago - Reuters - May 13, 2013 5:32 AM
LONDON, May 13 (Reuters) - Sponsors of European companies are opting to tap the US leveraged loan market to raise financing, lured by the greater liquidity, covenant-lite structures and higher...
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TABLE-India cbank says repo bids fall to 904.20 bln rupees
7 days ago - Reuters - May 13, 2013 1:48 AM
May 13 (Reuters) - The Reserve Bank of India said on Monday, it accepted all 30 bids for 904.20 billion rupees ($16.5 billion) at its one-day repo auction, through which it injects liquidity into the banking system. ----------------------------------
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13
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Moody's: Australian Banks' Funding, Liquidity Metrics Improving
7 days ago - Fox Business - May 13, 2013 12:05 AM
The following is a press release from Moody's: Moody's: Australian Banks Funding And Liquidity Metrics Improving http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PR_273031&WT.mc_id=NLTITLE_YYYYMMDD_PR_273031
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4
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The Fed Knows It's Created Another Bubble and Is Managing Down Expectations
1 week ago - ZeroHedge - May 11, 2013 11:52 AM
Having pumped the system with liquidity non-stop since the Crash of 2008, the Fed now realizes it’s in big trouble and needs to manage down expectations of further stimulus. As we noted earlier this year, the Fed, while att
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German Finmin-eurozone crisis no longer main risk to global economy
1 week ago - Reuters - May 11, 2013 10:32 AM
AYLESBURY, England, May 11 (Reuters) - The euro zone crisis is no longer the main risk for the global economy, German Finance Minister Wolfgang Schaeuble said on Saturday, adding that a "relatively high level of liquidity" could cause problems.
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'Jumbo' SPY options make debut, but liquidity a concern to some
1 week ago - Reuters - May 10, 2013 5:09 PM
(Reuters) - A new "jumbo" option contract on the popular S&P 500 tracking ETF debuted on the BOX Options Exchange on Friday, but at least one rival has opted not to list the product for now because of concerns it will hurt liquidity in existing optio
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'Jumbo' SPY options make debut, but liquidity a concern to some
1 week ago - Reuters - May 10, 2013 5:06 PM
May 10 (Reuters) - A new "jumbo" option contract on the popular S&P 500 tracking ETF debuted on the BOX Options Exchange on Friday, but at least one rival has opted not to list the product for now because of concerns it will hurt liquidity in existin
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'Jumbo' SPY options make debut, but liquidity a concern to some
1 week ago - Reuters - May 10, 2013 5:06 PM
May 10 (Reuters) - A new "jumbo" option contract on the popular S&P 500 tracking ETF debuted on the BOX Options Exchange on Friday, but at least one rival has opted not to list the product for now because of concerns it will hurt liquidity in existin
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Nigerian interbank rates steady, seen rising next week
1 week ago - Reuters - May 10, 2013 10:10 AM
LAGOS, May 10 (Reuters) - Nigerian interbank lending rates were flat at an average of 13.25 percent on Friday as aggressive liquidity mopping-up by the central bank offset cash flow from matured treasury bills, traders said.
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TABLE-India cbank says repo bids down at 1.03 trln rupees
1 week ago - Reuters - May 10, 2013 2:02 AM
May 10 (Reuters) - The Reserve Bank of India said on Friday, it accepted all 37 bids for 1.03 trillion rupees ($19 billion) at its three-day repo auction, through which it injects liquidity into the banking system. -----------------------------------
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TABLE-India cbank says reverse repo bids fall to 100 mln rupees
1 week ago - Reuters - May 9, 2013 8:20 AM
May 9 (Reuters) - The Reserve Bank of India said on Thursday it accepted the sole bid for 100 million rupees ($1.8 million) at its one-day reverse repo auction, through which it absorbs excess liquidity from the banking system. Earlier in the day, it
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10
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Bill Gross Moment Of Daily Zen: Hope, And Pray To Bernanke
2 weeks ago - ZeroHedge - May 8, 2013 10:03 AM
Because if one hopes hard enough, and if the liquidity capital misallocation tsunami doesn't destroy everything in its path (remember CapEx? neither do we) maybe, just maybe, the fifth, or sixth, or seventh time will be the charm and/or different. Gr
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TABLE-India cbank says repo bids rise to 1.04 trln rupees
2 weeks ago - Reuters - May 8, 2013 1:48 AM
May 8 (Reuters) - The Reserve Bank of India said on Wednesday it accepted all 37 bids for 1.04 trillion rupees ($19.2 billion) at its one-day repo auction, through which it injects liquidity into the banking system. ----------------------------------
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Japan MOF to announce JGB auction results at 0530 GMT
2 weeks ago - Reuters - May 8, 2013 1:28 AM
TOKYO, May 8 (Reuters) - Japan's Ministry of Finance said on Wednesday that it would announce the results of a 300 billion yen ($3 billion) liquidity-enhancing Japanese government bond auction at...
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Japan MOF: Auction result release delayed due to technical glitches
2 weeks ago - Reuters - May 7, 2013 11:58 PM
TOKYO, May 8 (Reuters) - Japan's Ministry of Finance said on Wednesday it would delay the announcement of a 300 billion yen Japanese Government Bond liquidity-enhancing auction due to technical...
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J.J. Zhang's Winner Take All: The hidden risks of frontier-market investing
2 weeks ago - MarketWatch - May 7, 2013 3:07 PM
Any discussion of frontier markets is incomplete without discussing risk. Many frontier markets are relatively small countries so liquidity and lack of transparency are significant issues.
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2
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Volatility ETFs Could Face A Short Squeeze
2 weeks ago - Seeking Alpha - May 7, 2013 2:10 PM
By Larry Trefz:The primary purpose of the Federal Reserve's massive asset buying program over the last few years has been to restore confidence to the markets. By adding huge amounts of liquidity (currently $85 billion per month), the Fed has hoped t
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Full Liquidity Returns, Dollar Yawns
2 weeks ago - Seeking Alpha - May 7, 2013 7:45 AM
By Marc Chandler:The end of Golden Week, May Day, and bank holiday has not meant fresh movement for the dollar, which has been confined to narrow ranges against most of the major currencies. The main exception has been the Australian dollar which has
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RPT-Fitch: UK Banks Reduce MMF Usage as Liquidity Buffers Peak
2 weeks ago - Reuters - May 7, 2013 5:55 AM
May 7 (Reuters) - (The following statement was released by the rating agency)
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RPT-Fitch: UK Banks Reduce MMF Usage as Liquidity Buffers Peak
2 weeks ago - Reuters - May 7, 2013 5:55 AM
May 7 (Reuters) - (The following statement was released by the rating agency)
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UPDATE 1-Saudi finalising rules for foreign stock ownership -regulator
2 weeks ago - Reuters - May 7, 2013 4:08 AM
RIYADH, May 7 (Reuters) - Saudi Arabia is finalising a regulatory framework which will allow foreigners to directly own stocks in the kingdom, though the market has no need for liquidity from international investors, the head of the country's market
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Saudi Arabia finalising regulations for foreign ownership -CMA
2 weeks ago - Reuters - May 7, 2013 3:39 AM
RIYADH, May 7 (Reuters) - Saudi Arabia is finalising a regulatory framework which will allow foreigners to directly own stocks in the kingdom, though the market has no need for liquidity from international investors, the head of the country's market
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TABLE-India cbank says repo bids rise to 1.01 trln rupees
2 weeks ago - Reuters - May 7, 2013 1:44 AM
May 7 (Reuters) - The Reserve Bank of India said on Tuesday it accepted all 40 bids for 1.01 trillion rupees ($18.7 billion) at its one-day repo auction, through which it injects liquidity into the banking system. ------------------------------------
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Cosco Capital plans up to $500 mln Philippine offering-IFR
2 weeks ago - Reuters - May 7, 2013 12:01 AM
HONG KONG, May 7 (Reuters) - Philippine conglomerate Cosco Capital plans a share offer worth up to $500 million to bolster liquidity and free float after a recent corporate restructuring, IFR reported on Tuesday, citing sources familiar with the deal
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E-Trading Finally Takes Over Fixed Income
2 weeks ago - Wall St & Tech - May 6, 2013 9:20 AM
New regulations and low liquidity have fixed income markets going electronic.
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Wrong to assume OMO preferred tool to manage liquidity-India cbank chief
2 weeks ago - Reuters - May 6, 2013 6:18 AM
MUMBAI, May 6 (Reuters) - Reserve Bank of India Governor Duvvuri Subbarao said on Monday the central bank's open market operations (OMOs) were not the preferred tool to inject liquidity, but all options will be used to actively manage the cash situat
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Wrong to assume OMO preferred tool to manage liquidity-India cbank chief
2 weeks ago - CNBC - May 6, 2013 6:18 AM
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Hope discomfort on liquidity lessens in a few months: India cbank chief
2 weeks ago - Reuters - May 6, 2013 5:43 AM
MUMBAI, May 6 (Reuters) - The Reserve Bank of India Governor Duvvuri Subbarao said on Monday he expects liquidity conditions to be less uncomfortable over the next few months due to the winding down of the government's cash balances as well as the na
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Hope discomfort on liquidity lessens in a few months: India cbank chief
2 weeks ago - CNBC - May 6, 2013 5:43 AM
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