The Financial Times – ECB raises emergency funding to Greek banks The European Central Bank on Tuesday raised the limit on the emergency liquidity assistance available to Greek banks to about €89bn as depositors continued to withdraw funds. The move has become a daily operation as tension mounts amid negotiations to secure an eleventh-hour deal… Continue reading Greece
The Telegraph – Oil investors betting on crude hitting $82 per barrel European hedge fund believes market for crude is oversold as demand picks up Investors are beginning to bet on a sharp rebound in the oil price by the end of the year, on the back of rising demand and a slowdown in US… Continue reading Bank Forecasts For Crude Oil Prices
The Wall Street Journal – The Case Against Earnings Calls Earnings calls and financial projections can have the unintended consequences of pressuring the CEO, CFO, and marketing and sales department into being highly creative in order to meet those projections. If the results don’t meet the projections, the consequences may be the company giving up… Continue reading The Unintended Consequences Of Earnings Calls
Bloomberg.com – Yellen Rejects Hensarling Accusation of Obstruction Over Leak Federal Reserve Chair Janet Yellen rebuffed an accusation that she is obstructing a congressional investigation into a leak of confidential information in a letter Monday to Republican lawmakers in Washington. Yellen defended her refusal to comply fully with a subpoena for documents issued by the… Continue reading Yellen Defends The Fed
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Unconventional Fed/Volatility Views A transcript of the June 19, 2015 conference call. Handout (also shown below) Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/061915.mp3|titles=Conference Call ] [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/061915.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] If the webcast does not work above, please download here. <Click above to view webcast> [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=257″]
<Click on chart for larger image> Real Time Economics (WSJ Blog) – Fed’s Mester: Economy Could Deal With Quarter-Point Rate Rise Now Federal Reserve Bank of Cleveland President Loretta Mester said raising rates right now wouldn’t be a problem for the economy as a whole. “I think the economy can support a 25-basis-point increase in… Continue reading Fed Presidents Chime In On Rate Hike
Bloomberg.com – Speculators Retreat From Oil as OPEC Oversupply Crowds Out Shale Hedge funds reduced both bullish and bearish bets on oil for a fourth week as rising OPEC output was met with forecasts for a contraction in U.S. supply. Money managers trimmed their short wagers in West Texas Intermediate oil by 4.3 percent and… Continue reading Oil Speculation
<Click on chart for larger image> Bloomberg.com – Bonds for Buybacks Never Bigger in U.S. as $58 Billion Sold It’s official, using proceeds from debt sales to send cash to stockholders has never been more popular. Standard & Poor’s 500 Index companies listed buybacks or dividends among the use of proceeds in $58 billion of… Continue reading Buybacks
Bloomberg.com – Three Words Count in Bonds: Liquidity, Liquidity, Liquidity There are three things that matter in the bond market these days: liquidity, liquidity and liquidity. How — or whether — investors can trade without having prices move against them has become a major worry as bonds globally tanked in the past few months. As… Continue reading Liquidity Concerns
Zero Hedge (Blog) – Another Fed “Insider” Quits, Tells The Truth Once more, an “insider” from The Fed exposes the reality of an academic ivory tower clueless of the real financial markets. Former adviser to Dallas Fed’s Dick Fisher, Danielle DiMartino Booth speaking in a CNBC interview slams The Fed for “allowing the [market] tail… Continue reading Former Fed Employee Speaks Her Mind
Bloomberg.com – Tsipras Offers New Plan for Greece for Crunch EU Talks Greek Prime Minister Alexis Tsipras presented a new plan to stave off default before an emergency summit Monday that could decide his nation’s future in the euro. The new offer “was a good basis for progress at tomorrow’s Euro summit,” European Commission spokesman… Continue reading All Eyes On Greece