ECB’s 4 QE Scenarios

After last week’s stunning action by the SNB, which according to most was done in anticipation of what will be a substantial QE announcement by the ECB as the last thing the Swiss National Bank wants is to be the primary buyer of what may be up to 1 trillion in fresh minted Euros, it … Read more

Could A Russian Default Be In The Cards?

Via Mint – Blain’s Extra Porridge, “Nazhmite Lyubuyu Stavku…“ Extra Comment – this might be getting serious.   Russia’s markets have been spanked hard despite last night’s hike. 19% currency crash and 13% down stocks in a session. Ouch! Cumulatively, over the past few weeks stocks, oil and the Ruble are off 50% plus, and … Read more

US Equity-Credit Divergence: A Warning

“One thorn of experience is worth a whole wilderness of warning.” – James Russell Lowell, American poet. Major equity / Credit divergences should always be taken very seriously. They were among the best forward looking indicators at almost every major turning point for equities over the last 20 years. To recap: In 1998, equities were rallying … Read more