It is the 16th of December 2019

News

Deutsche: The Market Broke In 2012, "This Is What Everyone Is Talking About"

Two weeks after Deutsche Bank’s whimsical, James Joycean derivatives strategist, Aleksandar Kocic disaggregated the market’s current sweeping complacency regime in a florid stream-of-consciousness report, and warning that the market's current "metastability" would lead to "cataclysmic events", with a crash becomes increasingly more likely the longer price discovery in the market (one not propped up by Federal Reserve) is delayed, in his latest note from this week he takes on a more practical - if just as abstract - target; quantifying complacency, both in a market sense and as a metaphysical concept (long-term readers of Kocic are all too aware that when it comes to fusing markets and philosophy, mostly of the post-modernist bent, nobody even comes close).

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Fed "Stress Test" Results Are Out: Everyone Passes Even As VIX Hits 70

Moments ago the Fed released the first phase of its annual stress test which, once again, found that all thirty-four of the US largest banks "passed", exceeding minimum projected capital and leverage ratios under severely adverse scenarios, based on their projected ability to withstand economic shocks, which  as Bloomberg notes, shows that "firms are getting the hang of the once-dreaded reviews." The result marks the third straight year all firms cleared the minimum requirements in the exams’ first phase, begging the question just how "stressful" this test truly is.

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Millions Of Americans Just Got An Artificial Boost To Their Credit Score

Back in August 2014, we first reported that in what appeared a suspicious attempt to boost the pool of eligible, credit-worthy mortgage and auto recipients, Fair Isaac, the company behind the crucial FICO score that determines every consumer's credit rating, "will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency. The San Jose, Calif., company also will give less weight to unpaid medical bills that are with a collection agency." In doing so, the company would "make it easier for tens of millions of Americans to get loans."

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