Futuristic Eskimo
All Star
Goldman buyback desk is going to be very active tomorrow. Looking for a nice bounce here.
Boiler Room: The Official Stock Market Discussion
Tha Sircus
Pro
GoogleMe
$ ¥ € £ $
Tha Sircus
Pro
Schiff a clown.
He can be at times yes. But did you actually hear what he said. its a very acurate analysis of what is going on right now and i recommend any one who is new to the stock market or seeking a better understanding to give it a listen
GoogleMe
$ ¥ € £ $
China's Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds
China's Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds
China’s central bank added the most funds to the financial system in open-market operations since January 2014 as currency-market intervention to prop up the yuan strained the supply of cash.
The People’s Bank of China auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, according to a statement on its website. That compares with 120 billion yuan maturing Tuesday, leaving a net injection of 30 billion yuan. The PBOC also sold 60 billion yuan of three-month treasury deposits on behalf of the Ministry of Finance at 3 percent, according to a trader who bid at the auction.
The overnight repurchase rate climbed to a four-month high of 1.85 percent Monday, and was at 1.83 percent as of 9:52 a.m. in Shanghai Tuesday, according to a weighted average compiled by the National Interbank Funding Center. The seven-day rate fell two basis points to 2.51 percent.
“Banks have become more reluctant to lend and we expect the PBOC to offer liquidity support,” said Liu Dongliang, a Shenzhen-based analyst at China Merchants Bank Co. “The amount was smaller than expected.”
Major banks have been seen selling dollars toward the close of onshore trading in Shanghai on most days since a surprise yuan devaluation on Aug. 11. The intervention removes funds from the financial system and risks driving borrowing costs higher unless the monetary authority releases additional cash. China’s foreign-exchange reserves will drop by some $40 billion a month for the rest of this year, according to the median of 28 estimates in a Bloomberg survey.
The monetary authority injected a net 150 billion yuan last week using reverse-repurchase agreements. It also added 110 billion yuan via its Medium-term Lending Facility.
China's Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds
China’s central bank added the most funds to the financial system in open-market operations since January 2014 as currency-market intervention to prop up the yuan strained the supply of cash.
The People’s Bank of China auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, according to a statement on its website. That compares with 120 billion yuan maturing Tuesday, leaving a net injection of 30 billion yuan. The PBOC also sold 60 billion yuan of three-month treasury deposits on behalf of the Ministry of Finance at 3 percent, according to a trader who bid at the auction.
The overnight repurchase rate climbed to a four-month high of 1.85 percent Monday, and was at 1.83 percent as of 9:52 a.m. in Shanghai Tuesday, according to a weighted average compiled by the National Interbank Funding Center. The seven-day rate fell two basis points to 2.51 percent.
“Banks have become more reluctant to lend and we expect the PBOC to offer liquidity support,” said Liu Dongliang, a Shenzhen-based analyst at China Merchants Bank Co. “The amount was smaller than expected.”
Major banks have been seen selling dollars toward the close of onshore trading in Shanghai on most days since a surprise yuan devaluation on Aug. 11. The intervention removes funds from the financial system and risks driving borrowing costs higher unless the monetary authority releases additional cash. China’s foreign-exchange reserves will drop by some $40 billion a month for the rest of this year, according to the median of 28 estimates in a Bloomberg survey.
The monetary authority injected a net 150 billion yuan last week using reverse-repurchase agreements. It also added 110 billion yuan via its Medium-term Lending Facility.
GoogleMe
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some interesting explanations for this collapse
http://www.ft.com/intl/cms/s/3/db2c0c00-47ef-11e5-b3b2-1672f710807b.html#axzz3jnWH9xx8
http://www.ft.com/intl/cms/s/3/db2c0c00-47ef-11e5-b3b2-1672f710807b.html#axzz3jnWH9xx8
88m3
Fast Money & Foreign Objects
Fresh falls in Asian stocks as global markets plunge
© Spencer Platt, AFP | A trader works on the floor of the New York Stock Exchange (NYSE) on August 24, 2015 in New York City.
Video by FRANCE 24
Text by NEWS WIRES
Latest update : 2015-08-25
Asian shares tumbled on Tuesday morning after a meltdown in Chinese stocks sparked a global equities rout and fuelled mounting fears over the outlook for the world economy.
Shanghai stocks tumbled 6.41 percent at the open, extending the previous day’s plunge on mounting worries over China’s faltering economy and its impact on global growth.
The dollar was weak against other currencies and oil prices remained in the doldrums after finishing Monday below $40 a barrel for the first time in six years, as financial markets sold off around the world.
Tokyo fell 4.13 percent in early trade, following a bruising session overnight that saw US stocks fall the most since the height of the financial crisis and European equities slump.
Hong Kong opened 0.67 percent lower, after closing at a fresh 15-month low on Monday, while Seoul was trading flat in early deals.
Sydney dropped sharply at the open before recovering to stand 1.52 percent higher by mid-morning.
“The world’s capital markets are in meltdown, and investors are asking what can stop the panic,” said IG Markets’ chief market strategist Chris Weston.
“Despite the outrageous moves in the European and US futures markets overnight, it is Asia that is at the epicentre of this concern.”
Global equities took a battering overnight, with US and European markets plunging after an almost 8.50 percent slump in Shanghai—the heaviest daily loss since 2007 -- sparked panic among world investors.
World equity markets have seen some $5 trillion wiped off their value since China’s surprise devaluation of the yuan on August 11 added to fears the world’s second-largest economy is weaker than thought.
Chinese shares have been extremely volatile since a huge debt-fuelled rally, which saw the market rise 150 percent in 12 months, collapsed in mid-June prompting Beijing to unleash unprecedented measures to support the equity market.
Dealers were braced for more heavy falls Tuesday, as they await news of more intervention from Beijing to rescue its free-falling markets.
It looks likely “that we will carry on the recent trend and if we do, it will be a rough day,” James Lee, managing director of First NZ Capital, told Bloomberg News.
The dollar remained low at 118.78 yen, little changed from 118.51 yen in New York trade Monday, but dramatically weaker than 122.06 yen seen in US trading on Friday.
The euro stood at $1.1570 and 137.50 yen in Tokyo, compared with $1.1606 and 137.55 yen in New York overnight.
US benchmark West Texas Intermediate (WTI) for October delivery was trading at $38.47 after closing at $38.24 a barrel on the New York Mercantile Exchange, its first below-$40 close since February 2009.
Brent North Sea crude for October, the international benchmark, was as $42.86 a barrel after closing at $42.69 a barrel in London, its lowest level since March 2009.
Business - Fresh falls in Asian stocks as global markets plunge
© Spencer Platt, AFP | A trader works on the floor of the New York Stock Exchange (NYSE) on August 24, 2015 in New York City.
Video by FRANCE 24
Text by NEWS WIRES
Latest update : 2015-08-25
Asian shares tumbled on Tuesday morning after a meltdown in Chinese stocks sparked a global equities rout and fuelled mounting fears over the outlook for the world economy.
Shanghai stocks tumbled 6.41 percent at the open, extending the previous day’s plunge on mounting worries over China’s faltering economy and its impact on global growth.
The dollar was weak against other currencies and oil prices remained in the doldrums after finishing Monday below $40 a barrel for the first time in six years, as financial markets sold off around the world.
Tokyo fell 4.13 percent in early trade, following a bruising session overnight that saw US stocks fall the most since the height of the financial crisis and European equities slump.
Hong Kong opened 0.67 percent lower, after closing at a fresh 15-month low on Monday, while Seoul was trading flat in early deals.
Sydney dropped sharply at the open before recovering to stand 1.52 percent higher by mid-morning.
“The world’s capital markets are in meltdown, and investors are asking what can stop the panic,” said IG Markets’ chief market strategist Chris Weston.
“Despite the outrageous moves in the European and US futures markets overnight, it is Asia that is at the epicentre of this concern.”
Global equities took a battering overnight, with US and European markets plunging after an almost 8.50 percent slump in Shanghai—the heaviest daily loss since 2007 -- sparked panic among world investors.
World equity markets have seen some $5 trillion wiped off their value since China’s surprise devaluation of the yuan on August 11 added to fears the world’s second-largest economy is weaker than thought.
Chinese shares have been extremely volatile since a huge debt-fuelled rally, which saw the market rise 150 percent in 12 months, collapsed in mid-June prompting Beijing to unleash unprecedented measures to support the equity market.
Dealers were braced for more heavy falls Tuesday, as they await news of more intervention from Beijing to rescue its free-falling markets.
It looks likely “that we will carry on the recent trend and if we do, it will be a rough day,” James Lee, managing director of First NZ Capital, told Bloomberg News.
The dollar remained low at 118.78 yen, little changed from 118.51 yen in New York trade Monday, but dramatically weaker than 122.06 yen seen in US trading on Friday.
The euro stood at $1.1570 and 137.50 yen in Tokyo, compared with $1.1606 and 137.55 yen in New York overnight.
US benchmark West Texas Intermediate (WTI) for October delivery was trading at $38.47 after closing at $38.24 a barrel on the New York Mercantile Exchange, its first below-$40 close since February 2009.
Brent North Sea crude for October, the international benchmark, was as $42.86 a barrel after closing at $42.69 a barrel in London, its lowest level since March 2009.
Business - Fresh falls in Asian stocks as global markets plunge
heisenburrr
Have Fun Staying Poor
Shangai Composite testing 3000. Would be something to see it fall......
seems like the collusion goal of the shorts was to postpone the fed rate hike
Hedge Fund Adviser Who Called Emerging Stock Rout Ends Short Bet
by Ye Xie
August 24, 2015 — 10:22 PM EDT
Hedge Fund Adviser Who Called Emerging Stock Rout Ends Short Bet
Hedge Fund Adviser Who Called Emerging Stock Rout Ends Short Bet
by Ye Xie
August 24, 2015 — 10:22 PM EDT
Hedge Fund Adviser Who Called Emerging Stock Rout Ends Short Bet
ExodusNirvana
Change is inevitable...
I been using TD Waterhouse or Ameritrade since I was in HS... It's like $10 a trade and no minimum starting balance except for options I think
Domingo Halliburton
Handmade in USA
S&P futures up 74 I guess yesterday didn't happen
Carlos Huerta
Just keep my rep red
I'm starting to use Robinhood now. No fees.
The D-List Vet
Being in a recommendation system.
are people really eating this good off of stocks