BOJ Unexpectedly “Stealth Tapers”, Sparking Japanese Bond Selloff

The global bond rout accelerated overnight, when Japan surprised the market – which had been already on edge over the BOJ’s tightening intentions – with an announcement to further “stealth taper” its QE by trimming its buying of bonds due in more than 25 years…

WTI Surges Above $70 After Crude, Gasoline Draw

WTI traders shrugged off API’s surprise crude build overnight, breaking back above $70 ahead of DoE data, and extending gains as crude and gasoline inventories drewdown and Cushing stocks dropped again. Despite expectations for a draw, a crude build is more seasonally normal as we…

Moscow Accuses Israel Of Using Downed Russian Jet As “Cover” During Syrian Attack

As more information about the downing overnight of a Russian reconnaissance plane by aging Syrian antiaircraft weapon becomes available, the Russian Defense Ministry has issued a shocking claim that will undoubtedly ratchet up tensions between Russia and Israel. While Russia had previously blamed Israel for…

“The Big Short’s” Steve Eisman Reveals Where The Next Crisis Will Come From (And His Favorite Long Idea)

Overnight, we presented the views of 4 people who saw the last financial crisis coming, and shared their outlook for the future. There was one name we forgot, however, perhaps the most famous of all: Steve Eisman, who was popularized by the movie The Big…

Dollar Surges As 10Y Treasury Hits 3.00%

After a sharp drop in the dollar in the overnight session, which had set the greenback for its worst week since February, the BBG dollar index has surged, and was trading near session highs following today’s mixed economic data. Some have attributed the rebound to…

Stocks Pop As Beijing Backs Off, But Hindenburg Cluster Hovers

Another day of this.. China was weak overnight after the World Trade Organization said China would ask for permission to retaliate against the U.S. due to its failure to modify anti-dumping methodologies.   Europe was mixed to lower across all the majors…   US Futures…

China’s Trade Surplus With US Hits Record High At Worst Possible Time

Three days after the US reported a record trade deficit with China, overnight Beijing confirmed this record print when the General Administration of Customs announced that China’s trade surplus with the U.S. hit another record monthly high in August, rising to $31.05 billion from $28.09…

WTI Spikes On Surprise Crude Draw As Gasoline Demand Hits Record High

WTI rallied overnight, in the face of dollar gains, as Iran supply fears reignited, dominating API inventory builds across the board, and spiked notably after DOE reported a bigger-than-expected 2.566mm crude draw. But bear in mind that seasonal refinery maintenance is about to start, which…

“Worst Storm In A Quarter Century” Nears Hawaii, Gov Warns “Be Prepared To Shelter In Place”

Overnight saw Hurricane Lane churn slowly toward Hawaii as 1.4 million people brace for the U.S. Pacific island state’s worst storm in a quarter century. Hurricane Lane in the early morning hours near Hawaii (Source/ The crew of the @Space_Station)  The storm is moving northwest to…

Number Of “McRefugees” Sleeping In Hong Kong McDonald’s Jumps 600%

The number of Hong Kong residents sleeping overnight at McDonald’s has increased 600% over the past five years, driven in part by the city’s sky-high rents and substandard housing amid an unbearably hot summer, a study has found.  The survey, organised by Junior Chamber International’s…