Thomas Cook Collapses, up to 600,000 Travelers Stranded in Hotel & Airline Chaos, Triggers “Biggest Peacetime Repatriation in UK History” by Nick Corbishley • Sep 23, 2019 • 72 Comments Rescue deal fell through at the last moment. China’s Fosun and other shareholders are toast. Creditors get to fight over the debris.
Interest Rate Derivatives Trading Explodes to $6.5 Trillion/Day by Nick Corbishley • Sep 19, 2019 • 19 Comments A gigantic spike in three years. The UK dominates.
Fed’s Powell: No Negative Interest Rates at Next Crisis by Wolf Richter • Sep 18, 2019 • 117 Comments The Fed has different priorities than the ECB, the Bank of Japan, the Swiss National Bank, et al.
Foreign Exchange Trading Soars to $6.6 Trillion a Day, US Dollar is Total King by Wolf Richter • Sep 18, 2019 • 68 Comments Ginormous numbers, FX swaps and spot trades, USD, EUR, JPY, GBP, Australian & Canadian dollars… but where the heck is China’s CNY?
THE WOLF STREET REPORT: Snapback Bloodletting in the Overripe Bond Market by Wolf Richter • Sep 15, 2019 • 65 Comments The 10-year Treasury yield rips. Unstoppable negative yields become stoppable.
Who’ll Rescue Thomas Cook, the Collapsing Vacation-Travel-Airline Giant with 21,000 Employees? by Nick Corbishley • Sep 13, 2019 • 43 Comments Shareholders are already toast. Would China’s Fosun conglomerate follow the time-honored principle of throwing good money after bad?
Palace Revolt at the ECB, Legitimacy of Policy out the Window by Wolf Richter • Sep 12, 2019 • 157 Comments Draghi’s desperate shenanigans thicken.
Contagion from Liquidity Crunch at Junk-Bond Funds to Trigger “Material Second Round Effects”: EU Securities Regulator by Nick Corbishley • Sep 7, 2019 • 31 Comments The cost of dodging negative interest rates.
Woodford’s Shuttered Fund Crushed Further by Plunging Stocks in its Holdings, such as Muddy-Waters Target Burford Capital by Nick Corbishley • Aug 26, 2019 • 39 Comments Hedge funds have field day front-running the liquidation. 300,000 investors left twisting in the wind.
World Trade Skids for First Time Since Financial Crisis by Wolf Richter • Aug 25, 2019 • 56 Comments Exports by China, Japan, and Eurozone under pressure — in part because of globally weak demand for new vehicles, which transcends the trade war.
