Deutsche’s precious (metals) moment

For many years precious metal commodity investors have screamed over certain price movements. Then came the convictions and penalties for the banks involved in the Libor rigging scandal, which gave the gold and silver trades some ammo for their own challenge. In 2014, precious metal¬†future traders sued a group of banks including Deutsche Bank, HSBC, […]

Not all investors heard Twitter’s NFL audible on Monday

Here’s a perfect example of why small investors don’t trust the markets. On Monday, Twitter’s shares — which are down more than 26% this year alone and 66% over the last 52 weeks — popped 7% on no news. Tuesday morning, news breaks that the micro-blogging site has won a deal to stream the NFL’s […]

Markets rally for 45-minute drive on Plunge Protection Team’s play calling

The stock market seems to be playing by a new playbook this week, with positive results. As the market’s offensive coordinator, late in the trading session each day at 3:15¬† stages a 2-minute drive to rally the Dow to a three-digit positive session. This late money coming in soon after the crude pits go dark, […]

Treasury bid-rigging suit filed

A New York law firm — Labaton Sucharow — files class-action suit alleging “insidious treasury auction manipulation.” The suit alleges a conspiracy by prominent financial institutions, including Goldman Sachs, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch, and JPMorgan, among others, to manipulate auctions for US treasury bills, notes, and bonds. I have told you there […]

Biz ‘journalists’ glee over cratering gold prices

Gold is getting smacked around hard when priced in dollars. While Greece contagion (and it will come in the fall) has not bolstered the precious metal, it has strengthen the greenback, which clobbers all dollar-based commodities. This is the theory behind Janet Yellen’s September rate hike. Raise rates and weaken the dollar so our international […]

Yellen to call, since she can’t raise

On Wednesday The Federal Reserve wraps up its infamous June meeting with a press conference by chair Janet Yellen. I say infamous since the markets believed this was the meeting where Yellen was going to begin raising interest rates. Well the Q1 GDP number of -0.7% took that off the table. And the possibility that […]

Libor + 6 banks = no criminal charges

My apologies, I am in the last throes of a kitchen remodeling and its a little crazy in the mornings. That said, so the Dept. of Justice slapped JPMorgan Chase, Citigroup, Barclays, UBS and Royal Bank of Scotland on Wednesday with a $5.8 billion penalty for pleading guilty to manipulating global currency markets and London […]