Comment by phil

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phil
August 27th, 2015 at 5:24 am

Good morning! 

Just woke up to that binging sound of our $1.30 sell orders being filled on /RB – nice way to wake up…



I think a lot of people had that target as it's pulling back fast off that line but WHEEEEEEEEEE!!!!  

Oil touched $40, as expected and Brent $45 but both rejected at their lines (for now, this is just a pullback of a huge move up, we could break higher).   Dollar about the same at 95.37  but steadily climbing, which makes the move in oil more real/sustainable.   







Shanghai popped 5.3, Hong Kong up 3.6%, India flipped to + 1.92% so all is well in Asia and Europe is already up 2.5%ish:



Our Futures are up 1% and any progress is good because we're flipping the S&P over the strong bounce line at 1,950 and that means:

Market Recovery Gains Steam


A recovery in global markets gained steam, with European stocks rising in early trade, tracking moves in the U.S. and Asia. 33 minutes ago

• China Leads Asia Higher
• U.S. Stocks Surge
• Fed’s Dudley: Case for Rate Increase ‘Less Compelling’



China Falters, and the Global Economy Is Forced to Adapt. With deepening economic fears about China, multinational corporations and countries are having to respond to a new reality as a once sure bet becomes uncertain.

China Meltdown So Large That Losses Eclipsed BRICS Peers, Twice. Take the combined size of all stocks traded in Brazil, Russia, India and South Africa, multiply by two, and you’ll get a sense of how much China’s market value has slumped since the meltdown started. Shanghai-listed equities erased $5 trillion since reaching a seven-year high in June, half their value, as margin traders closed out bullish bets and concern deepened that valuations were unjustified by the weak economic outlook. The four other countries in the BRICS universe have a combined market capitalization of $2.8 trillion, according to data compiled by Bloomberg. China has accounted for 41 percent of equity declines worldwide since mid-June, with the scale of the drop also exceeding the entire size of the Japanese stock market. “China has been the single most important source of growth in the world for several years, hence such a sharp slowdown has a profound impact on trade,” Nathan Griffiths, a senior emerging-market equities manager who helps oversee about $1.2 billion at NN Investment Partners in The Hague, said by e-mail. ?

China Brings Back High-Risk Debt Structures to Increase Leverage. Remember putable bonds? Or debt insurers that collapsed in the U.S. in the wake of the global financial crisis? They’re back — in China. Oceanwide Holdings Co. earlier this month sold the largest dollar-denominated putable security from Asia since 2003. Investors can demand the Beijing developer buy the notes back in three years, even if it doesn’t want to. HNA Capital Holding Co., a Beijing-based investment bank, sold $200 million of bonds Aug. 11 guaranteed by a Chinese insurer whose exposure to troubled debt doubled last year.

China Doing What Greece Didn't as Traders Give Up on Europe ETFs. All through the equity plunge that culminated in a bloodbath on Monday, exchange-traded funds tracking European equities held on to investments. That might be changing now. The WisdomTree Europe Hedged Equity Fund and Vanguard FTSE Europe ETF both had their first withdrawals in months. Investors are capitulating as they start to question their bets that Europe’s stocks would rally with an economic recovery, according to Nicola Marinelli of Pentalpha Capital Ltd.“It’s the sudden realization that assumptions about the global economy were too optimistic,” said Marinelli, a fund manager who helps oversee 114 million euros ($130 million) of assets at Pentalpha in London. ?

Japan's Kuroda Denies Existence Of Currency War As China Devalues Yuan To Fresh 4 Year Lows, Injects CNY150bn Liquidity

Jim Grant Warns "The Fed Turned The Stock Market Into A 'Hall Of Mirrors'"

Margin Calls Bite Investors, Banks. Loans backed by investment portfolios have become a booming business for Wall Street brokerages, but the bill is coming due.

Hedge Funds Bruised by Stocks’ Meltdown. A tumble in share prices stunned many hedge-fund managers and erased the year’s gains for some. Hedge-fund managers like to promise their investors protection from market swings. In the recent stock swoon, many were caught off guard.

Bill Ackman's gains for the year got wiped out in a matter of weeks

Is There Trouble Ahead for Silicon Valley 'Unicorns'

Oil Industry Needs to Find Half a Trillion Dollars to Survive. (graph) At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it. The number of oil and gas company bonds with yields of 10 percent or more, a sign of distress, tripled in the past year, leaving 168 firms in North America, Europe and Asia holding this debt, data compiled by Bloomberg show. The ratio of net debt to earnings is the highest in two decades. If oil stays at about $40 a barrel, the shakeout could be profound, according to Kimberley Wood, a partner for oil mergers and acquisitions at Norton Rose Fulbright LLP in London.