—- FedToEmergingMarkets: "Hasta La Vista, Baby" // ZeroHedge JustoutfromCiti’sStevenEnglander FedleavesEMtotwistinwind From the viewpoint of domestic US economic conditions the Statement is completely anodyne. From the point of view of EM, the Fed has just said “hasta la vista, baby”. The comment on US growth was a not surprising upgrade in the growth assessment – economic activity ‘picked up’ rather than ‘is expanding at a moderate … Seguir leyendo Fed To Emerging Markets: “Hasta La Vista, Baby”

—- NextEmergingMarketShock Comes FromSouthAfricaWhichUnexpectedlyHikesBy 50 bps // ZeroHedge First it was Turkey defending itself tooth and nail against Bernanke’s tapering, now it is South Africa, just as we predicted less than anhourago. SOUTH AFRICA RAISES BENCHMARK RATE TO 5.50% FROM 5.00%; EXPECTATION WAS FOR UNCHANGEDSOUTH AFRICA CENTRAL BANK RAISES BENCHMARK RATERAND STRENGTHENS AS CENTRAL BANK UNEXPECTEDLY RAISES REPO RATES. AFRICA’S MARCUS SAYS MOVE NOT INTENDED … Seguir leyendo Next Emerging Market Shock Comes From South Africa Which Unexpectedly Hikes By 50 bps

—- RussiaRubleCollapseEscalatesToRecordLow // ZeroHedge With all eyes on Russia over the next month as the Sochi Winter Olympics ramps up, we are sure having the market’s attention on a collapsing currency is not what Putin had in mind before he dropped $50 billion to make it snow. While the Ruble remains just above record lows against the USD, Bloomberg reports that it has dropped to … Seguir leyendo Russia Ruble Collapse Escalates To Record Low

—- ShockAndOuch: Turkish Central BankInterventionNowFullyFaded As Lira CollapseReturns // ZeroHedge Update: full meltdown mode now: Yesterday, themomentwhentheTurkish Central Bankinterventionwas jinxed was clearly marked by SocGen’s fawning Benoit Anne, who said "In any case, I definitely feel much better about the TRY, at least on a tactical basis. Hence we just entered a long TRY/ZAR targeting a tactical move to 5.10. TheTRY crisis isover." To which … Seguir leyendo Shock And Ouch: Turkish Central Bank Intervention Now Fully Faded As Lira Collapse Returns

—- Venezuela DevaluesBolivarByAnother 44% ForSome, Still 600% HigherThanBlackMarketDueTo 50% Inflation // ZeroHedge Less than a year ago, Venezuela shocked the world when it launchedthe "firstnuke" in the ongoing currency wars (which despite having dropped off the front pages, have certainly not ended), by devaluing its currency, the Bolivar from 4.30 to the USD to 6.30, in the process crushing the profits of many companies that … Seguir leyendo Venezuela Devalues Bolivar By Another 44% For Some, Still 600% Higher Than Black Market Due To 50% Inflation

—- EmergingmarketsforcedtotightenbyUSandChinesemonetarysuperpowers // AmbroseEvans–Pritchard – Financeandbusinesscomments The global chain reaction resembles what happened in the East Asia crisis in 1997-1998 when domino effects swept the region —- Shared via myfeedlyreader Seguir leyendo Emerging markets forced to tighten by US and Chinese monetary superpowers

—- Zillow: Case-ShillerHousePriceIndexexpectedtoshow 13.5% year–over–yearincreaseinDecember // CalculatedRisk The Case-Shiller house price indexes for November were released today. Zillow has started forecasting Case-Shiller a month early – and I like to check the Zillow forecasts since they have been pretty close. It looks like another very strong month … From Zillow: Case-ShillerForecast: ApprieciationRemainsStrong The Case-Shiller data for November came out this morning, and based on this … Seguir leyendo Zillow: Case-Shiller House Price Index expected to show 13.5% year-over-year increase in December

—- ArgentinePricesSoarFollowing Peso DevaluationWhichOnlyBenefits 20% OfPopulation // ZeroHedge The big story last week was the rapid devaluation of the official Argentine Peso (abbreviated, perfectly enough, ARS) exchange rate, whichtumbledby 17% overnightfrom USDARS 6.8 to over 8.0, when the government decided to liberalize the exchange regime and "ease" capital controls, allowing citizens to purchase dollars in hopes of stabilizing the currency and halting the ongoing outflow … Seguir leyendo Argentine Prices Soar Following Peso Devaluation Which Only Benefits 20% Of Population

—- SocGen’sExuberant Response ToTheTurkishAction: "GovernorBasci, YouHaveAvoided A Domino Crisis InEM" // ZeroHedge SocGen, via analyst Benoit Anne, had an almost immediate reponse to the Turkish central bank’s shock and awe action. Here it is: HatsOffToTheCBRT The CBRT did not disappoint tonight. The CBRT just announced a massive 425bp rate hike. GovernorBasci, youhaveavoided a domino crisis inEM. The policy response to severe financial stability risks was … Seguir leyendo SocGen’s Exuberant Response To The Turkish Action: “Governor Basci, You Have Avoided A Domino Crisis In EM”

—- We Are SleepwalkingTowards A CashlessSociety —- Shared via myfeedlyreader Seguir leyendo We Are Sleepwalking Towards A Cashless Society