8-24-2015 Articles/Chatter

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24 Aug 2015 In GLOBAL ECONOMIES Comments Off on 8-24-2015 Articles/Chatter

Commodities Slide to Lowest in 16 Years as Oil Extends Collapse

Commodities sank to the lowest level in 16 years as China’s economic slowdown exacerbates gluts of everything from oil to metals.
Commodities sank to the lowest level in 16 years as China’s economic slowdown exacerbates gluts of everything from oil to metals.
The Bloomberg Commodity Index, which tracks 22 raw materials, lost as much 1.1 percent to 86.8556 points, the lowest intraday level since August 1999. The gauge, which was at 86.8620 points at 10:30 a.m. in Singapore, has dropped for the past four years. Brent crude slid below $45 a barrel Monday for the first time since 2009 after Iran vowed to raise supply at any cost to defend market share.
Raw materials are in retreat as supplies outstrip demand amid forecasts for the slowest Chinese growth since 1990. The largest user of energy, grains and metals was much weaker than anyone expected in the first half of the year, according to Ivan Glasenberg, head of commodity trader Glencore Plc.
Brent for October settlement declined as much as 2 percent to $44.55 a barrel on the London-based ICE Futures Europe exchange, the lowest price since March 2009. Copper on the London Metal Exchange lost 2.1 percent while wheat futures in Chicago fell 1.2 percent.
While there’s speculation that financial-market turmoil may prompt the Federal Reserve to delay an increase in U.S. interest rates, the dollar is still 16 percent higher over the past year, making commodities more expensive for holders of other currencies.
 4m ago 11:10 It’s shaping up to be a rough day on Wall Street. The Dow Jones index is predicted to shed 300 points, or 1.8%, when the New York stock market opens at 2.30pm BST (8.30am on the east coast). That follows a nasty selloff on Friday, in which the Dow tumbled by 530 points.
 Dow futures tumble as Wall Street preps for meltdown – http://www.cnbc.com/2015/08/24/wall-stre…
 The Fed Is Looking at a Very Different Dollar Than Wall Street – http://www.bloomberg.com/news/articles/2…
 

Russia, China against imposing will over sovereign states & attempts to rewrite history – http://www.rt.com/news/313201-lavrov-china-visit-article/

 Australian VIX at 24.329 in early trade
 Here is an article to send to all the non-believers who have accused you of being a conspiracy nut…They’re Gonna Need A Bigger Balance Sheet –http://www.zerohedge.com/news/2015-08-23…
 5m ago 03:46 Summary It’s pretty grim out there so I’ll set out the main points so far: The ASX200 in Australia fell 2.4% at the opening. It’s now down 2.89%. The Shanghai Composite is down 8.6%. The Nikkei in Japan is down more than 3%. In commodities, Brent and US crude are at new six year lows Copper and aluminium also at six-year lows The yuan was weaker at the opening, despite a firmer setting for the day. The Malaysian ringgit down 0.9% at a 17-year low against the US dollar Gold has continued its comeback though and is at a seven-week high. Hold on to those hats.
 zerohedge ‏@zerohedge 10m10 minutes ago only 65 more points until limit down – zerohedge ‏@zerohedge 8m8 minutes ago -46  zerohedge ‏@zerohedge 8m8 minutes ago -43  zerohedge ‏@zerohedge 9m9 minutes ago -41
 US Equity Futures Are Crashing – Moments ago, without any specific catalyst, US equity futures just plunged when in thin, illiquid tape, a seller took out about 30 consecutive bid levels and as of last check, the ES was down as much as -48 to just 1923, or 2.5%, after being down a modest -13 minutes ago. It is unclear just what is going on, or whether some prop desk or hedge fund just got tapped out, and/or how the Fed will react but the last time we had action like this, the Fed confused a liquidating SocGen trader for an economic collapse, and cut rates by 75 bps in January of 2008. This time it does not have that luxury. – http://www.zerohedge.com/news/2015-08-23…
 zerohedge ‏@zerohedge 4m4 minutes ago Crude 39.41
 ‏@NickTimiraos @DavidSchawel It’s like Christmas Eve for a 6 year old over there. They can’t sleep there’s too much excitement and anticipation.
 $50 billion wiped off Australian shares as selling resumes – http://www.businessinsider.com.au/austra…
 The Australian dollar has been hammered on Monday. The AUD/USD is currently off 1.45% at .7215, having fallen as low as .7202 earlier in the session. It is now trading at the lowest level since late April 2009. http://www.businessinsider.com.au/the-au…
 zerohedge ‏@zerohedge 8m8 minutes ago INDIA’S RUPEE DROPS 0.9% TO 66.3950/USD,FIRST TIME SINCE SEPT. 2013 PAST 66.00: BBG
 1desertrat wrote 3m ago The Asian market falling like a rock. What do you make of this? » luvwulfs wrote 21s ago desert – the drop in the market is a great cover for a GCR. China forced the issue  1desertrat wrote 47s ago Luvwulfs – I am thinking the same thing. The RV shuffle !!! » serek wrote 8s ago Elmer and Iko feel that china indeed has pulled the trigger, and it’s here » Red wrote 43s ago Are we finally there? » luvwulfs wrote 7s ago Here it comes disguised as a currency war in the media + markets crash . Here is the chaos we have been warned about 
Little do they know China is ready willing and able to do so… Come on RV!!! “China could be forced to devalue the yuan even more…” –http://www.reuters.com/article/2015/08/2… The U.S. currency came under additional pressure as Treasury yields extended their decline on safety buying alongside the slide in equities. The benchmark 10-year Treasury note yield US10YT=RR touched a four-month low below 2 percent. Brent and U.S. crude oil futures hit fresh 6-1/2-year lows as concerns about a global supply glut added to worries over potentially weaker demand from China. [O/R] U.S. crude was down 2.6 percent at $39.39 a barrel CLc1 while Brent LCOc1 lost 2.1 percent to $44.52 a barrel. Three-month copper on the London Metal Exchange CMCU3 reached the six-year low of $4,935 a tonne. Aluminum CMAL3 also slid to its lowest since 2009, fetching $1,540 a tonne.
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 Iko Ward wrote 5m ago There it goes! Oil down to 39.99! » Depaul13 wrote 4m ago iko….ok…wht site..Cnn?? yes? » Iko Ward wrote 21m ago I use CNN » Iko Ward wrote 3m ago Nekkei opens at 8PM EST » serek wrote 3m ago Iko..please forgive the gross ignorance…is that good that the oil is dropping in relation to the RV . » Iko Ward wrote 2m ago serek..that is the popular belief. » Iko Ward wrote 1m ago It’s all about pressure points now. Get the right mix of happy and unhappy people and POP GOES THE WEASEL! » SassyD wrote 41s ago Iran is flooding the oil market of one million barrels per day — 08/24/2015 01:30 — http://translate.googleusercontent.com/t…… june1 wrote 1m ago IKO big question – China market now early showing starting drop again for Mondaymorning! Looking good for what their plan is! would Iraq wait until our closing here of the markets or do you think their smart move would be to do the RV button tonight, early morning, mid-morning, late afternoon or after closing? » Depaul13 wrote 39s ago june….should be tonight/ early morning. get some rest… you will need it!! » Iko Ward wrote 32s ago Sorry June, Warren Buffet just called and offered me a job, I’m under NDA. (That’s a joke,folks) June…I have no idea. » Iko Ward wrote 2m ago Nekkei sinking fast. Already down 2.43% and you can watch it falling.
 Elmer, Ed (?not sure caught his name right), Iko Ward discussed marketstonight. Elmer says as of today, the markets look the way he’s been saying they would for RV to release. Big downturn continued today. Iko said he thinks all bets are off, this is it. Thinking the crashing will push the RV. Said watch the yuan, Chinese say it will be gold backed so may be a good investment….the Chinese usually do what they say they will. One of them will be placing funds in non-derivative banks and conservative investing…holding off most of it for a few months while studying what’s going on. Iko said good night, he will be up at 3 15 am to watch markets at 3 30 am
 harambe wrote 6m ago Bloomberg is reporting that there is a sell-off of the US Dollar. With the news of volatility in the Asian market. There are concerns that the FED will not be able to raise rates in September. harambe wrote 2m ago Bloomberg: “The yen advanced with the euro as Treasuries rallied amid speculation the global selloff will forestall the Federal Reserve’s first interest-rate increase since 2006. U.S. notes due in a decade paid as little as 1.99 percent, the lowest since April 29.”
 Iko said oil below 39, gold up 1155….copper down….mutual funds will take a beating….stock market another 8.5%….Elmer said we are beyond the 10% total bubble tanking for RV to start….shakeup needed for GCR…old money losing power, new money gaining power….they all agreed there is a shift in consciousness on the planet ….and all this is a result of it … people are waking up. Discussed what China means to us….discussed ego death going on for a lot of people… looking at the bright side….take time after RV and go in to market at advantageous time….easy on the stocks diversify if doing…don’t put all eggs in one basket….understand positions and though have advisers, do your own due diligence….only make decisions based on knowledge, patience, temperance and wisdom. said this has been challenging for everyone but the work has only just begun…..important to look at our new positions in our lives, the community, the market and only make decisions we are comfortable with. To interview advisers….we are not the buyers…..they are….be the seller…..ask them all the questions you want until you know what you need to know. They are taught to rush decisions on the spot, right now; don’t. Take at least 3 days to decide….even though there is a 3 day law for recision….better to make right decisions for you when have enough knowledge and perspective. Gal who worked in investment firm in 89 crash said she saw a lot of people very sad who had been wealthy but heavily invested in stocks; don’t let that happen to you. Ed(?) thinks banks will behave differently post RV; study and watch carefully….this is on a world stage….too much fear mongering; don’t decide based on what a person says; listen,but to all kinds from conservative to flashy investors…..interview wealth managers on their track records, length of time, success rate, yields, wealth brackets and their seasoning….you can always request a different adviser at same bank if you are not comfortable with one you have.
Stock futures drop sharply as China stocks tumble 8% Permalink Facebook Twitter U.S. stock futures tumbled sharply early Monday after the worst week for stocks in four years. Futures for the Dow Jones Industrial Average slid 450 points, or 2.7%, to 16,020, while futures for the S&P 500 dropped 50.40 points, or 2.7%, to 1,921. Futures for the Nasdaq 100 index slid 170.5 points, or 4%, to 4,030.25. Intense selling across Asia added to pressure on stock futures, with the Shanghai Composite index [s; cn:shcomp] down 8%, as that market wiped out all of 2015′s gains. Investors were rattled by a lack of action by the Chinese central bank, though Beijing is planning to flood its banking system with cash, The Wall Street Journal reported. Investors are debating whether last week’s plunge in stock prices, slumping oil prices and concerns about the slowing Chinese economy will deter the Federal Reserve from raising interest rates in September. The new week includes reports on durable goods and consumer confidence, among other items. Stanley Fischer, the Fed’s No. 2, is to speakSaturday at the Federal Reserve Bank of Kansas City’s annual Jackson Hole symposium on “U.S. inflation developments.” Meanwhile, October WTI crude fell through $40, down $1, or 2.4%, to $39.45 a barrel. – http://stream.marketwatch.com/story/mark…

 Here we go again – blame China, either way…fiat world is the only world mindset – won’t they be surprised! – More strong comments from Rajiv Biswas, chief Asia economist for IHS Global Insight, who has been speaking to our man in Beijing. He says that the problem for investors is that the authorities in Beijing aren’t making a very good fist of dealing with this market business. As our the Guardian’s economics guru Larry Elliott wrote last week, it’s as if everyone is realizing that China might not have all the answers.
 Latest news on market closes in the far east – Here’s the official ASX 200 closing figure. Some $70bn has been lost from the market’s overall value, AAP reports, in the index’s worst one-day trading for six years. And it’s now at a two-year low. – and – Thailand’s stock exchange has been hit by the global selloff, dropping 3.84%, or 52.43 points, to 1,313.18.
 European Markets: – FTSE 100 plunges 2.8% at the open Trading is underway in the City, and shares are falling fast. The FTSE 100 index tumbled 2.8%, shedding 175 points to hit a low of 6012 points. It’s now settling around 6030 points as traders flood the market with sell orders. – and – Germany’s DAX index has fallen by 3%, dropping below the 10,000 point mark for the first time since January. – and – Across Europe, stock markets are deep in the red. Spain’s IBEX is down 3.3%, Italy’s FTSE MIB is down 3.%% and the Portuguese PSI 20 has shed 4.4%. – and – 40m ago 08:09 Germany’s stock market appears to have crashed into bear market territory, down more than 20% from its recent high. – and – 36m ago 08:15 The FTSE 100 just slumped below the 6,000 point mark for the first time since the start of 2013, in rather choppy trading:
 12m ago 09:37 The FTSE 100 has now lost 15% since hitting a record high of 7104 points in April.
 Yep… – 12m ago 09:38 The market turbulence is likely to make it impossible for the US Federal Reserve to raise interest rates this month, predicts Simon Smith, chief economist at FXPro.
 11m ago 09:40 Around €230bn has been wiped off the value of Europe’s 300 largest companies this morning, calculates Tara Cunningham of the Daily Telegraph.
 (re: the Us Embassy) – Too soon for ‘illogical’ U.S. to return to Tehran: Iran – http://www.reuters.com/article/2015/08/2…
 • Shanghai composite falls as much as 9pc – reversing yearly gains • More than $5 trillion has been wiped off global stocks since Aug 11 • FTSE falls 2.5pc, down by more than 15pc since yearly high • Germany’s DAX falls below 10,000 point for first time this year • Rouble falls to all time low against dollar on collapsing oil • Global currency wars: what China’s devaluation really means – http://www.telegraph.co.uk/finance/marke…
 Tense day for Wall Street ahead as China stocks tank 8.5% – http://www.marketwatch.com/story/tense-d…
 Carnage Continues Across European Stocks; EURUSD Surges Above 1.1500 As WTI Crude Tumbles To $38 Handle –http://www.zerohedge.com/news/2015-08-24…
 Telegraph Finance ‏@TeleFinance 3m3 minutes ago £44bn wiped has been wiped off the FTSE 100 in a mere two hours – markets livehttp://www.telegraph.co.uk/finance/marke… …
 Breaking News Feed ‏@PzFeed 4m4 minutes ago VIDEO: Massive explosion at US military facility in Japan. MORE VIDEOS:http://wp.me/p5bZm6-2UR
 Greek Market -4.77% – Saudi Arabia’s Tadawul all share index drops -5%
 …Value? Not sure it is “value” – more like perceived value – Here’s a remarkable fact – more than $5 trillion has been wiped off the value of global stock markets since Beijing devalued the yuan a fortnight ago.
 Sputnik ‏@SputnikInt 34s35 seconds ago #Putin will meet with #CrownPrinceofAbuDhabi to discuss security issues http://sptnkne.ws/CMa
 Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks http://goo.gl/P7dPjj
 SEC Proposes Rules to Implement Dodd-Frank Act Executive Compensation Clawback http://lawdai.ly/1IBvCPq | by @perkinscoiellp
 #HongKong Financial Secretary John Tsang asks investors be cautious as global markets could remain volatile in near term @business #stocks
 FT: More than a third of all of the northern Iraqi exports, which are shipped from Turkey’s port of Ceyhan, went to Israel – FT: Israel has imported as much as three-quarters of its oil from Iraq’s semi-autonomous Kurdish north in recent months #Iraq – FT: Israeli refineries and oil companies imported more than 19m barrels of oil from Iraq Kurdistan between May and August – FT: Traders and industry analysts have suggested that Israel may be acquiring the oil from Kurdistan at a discounted price –
 Opinion: 10 things Wall Street won’t tell you about the stock market http://www.marketwatch.com/story/10-thin…

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