“The Mother Of All Bubbles” In Stocks And Bonds: Bank CEO - By testosteronepit (3/4/15) PDF Print E-mail
testosteronepit   
Friday, 03 April 2015 07:21

via Zero Hedge

The first quarter was hot across the Eurozone. The euro has gotten purposefully crushed by the ECB’s currency war. QE, first promised then implemented, became all the rage. And stocks surged: the Stoxx Europe 600 was up 16%; Italy’s FTSE MIB index up 22%; and Germany’s DAX also up 22%, the sharpest quarterly gain since Q2 2003. Since January 2012, in a little over three years, the DAX has nearly doubled. Only Greece couldn’t get it together.

And bonds have soared to ludicrous levels, with yields turning negative on €2.2 trillion in Eurozone government debt, according to Societe Generale. German government debt is now sporting negative yields up to a 7.5-year maturity, while 10-year yield – at 0.14% as I’m writing this – is on its way to negative as well.

So on March 31, Hans-Jörg Vetter, CEO of Landesbank Baden-Württemberg in Germany, spoke at the bank’s annual press conference – and fired a warning shot across the bow of investors.

Publicly owned LBBW, a full-service and commercial bank, serves as the central bank for the savings banks in the states of Baden-Württemberg, Rhineland-Palatinate, und Saxony. With €266 billion in assets and over 11,000 employees, it is the largest such Landesbank in Germany. And it too was dutifully bailed out by taxpayers during the financial crisis.



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It’s Just A Question Of Whose Capital Will Be Destroyed - By Wolf Richter (3/4/15) PDF Print E-mail
Wolf Richter   
Friday, 03 April 2015 07:20

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OECD Economic Review Chair Warns, Central Bankers "Are Doing More Harm Than Good, Policy Must Be Reversed" - By Tyler Durden (2/4/15) PDF Print E-mail
Tyler Durden   
Thursday, 02 April 2015 08:08

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Central Banking Refuted In One Blog-Thanks Ben! - By David Stockman (2/4/15) PDF Print E-mail
David Stockman   
Thursday, 02 April 2015 08:06

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The Coming War With China - By Bill Bonner (2/4/15) PDF Print E-mail
Bill Bonner   
Thursday, 02 April 2015 08:04

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