Jueves 28/10/15 PBI, Indice casas pendientes, indice confort

[Fenix]

Pfizer, Allergan Said To Consider Merging; Would Be Largest Drug Deal In History
Submitted by Tyler D.
10/28/2015 - 21:24

Pfizer has an enterprise value of $221 billion. Allergan has an enterprise value of $160 billion. The two companies combined would have a joint EV of nearly $400 billion and a market cap of well over $300 billion. That would make a potential merger between the two the largest M&A deal in history, while a "mere takeover" of Allergan by Pfizer would still rank it as the fourth largest deal in history and the largest deal in a year that is shaping up as a record for M&A. And, according to the WSJ, such a deal may be just a few months if not weeks away.

[Fenix]

Bitcoin Soars Near Highest Since 2014 As China Outflows Accelerate
Submitted by Tyler D.
10/29/2015 - 10:39

For the past few weeks we have been detailing the tightening of China capital controls and what that may mean for Bitcoin (most recently here). It appears the outflows (that offshore Yuan weakness relative to onshore Yuan suggests) are accelerating as Bitcoin just traded above $314 (up from around $200 when we first warned about China) - near the highest since December 2014.


And The Biggest "Contributor" To Q3 GDP Was...
Submitted by Tyler D.
10/29/2015 - 10:01

If you said "the Supreme Court-approved tax that is Obamacare", then give yourself a pat on the back.


Americans Need More Than Just Low Gas Prices & Higher Stocks To Be "Comfortable"
Submitted by Tyler D.
10/29/2015 - 09:52

Presented with little comment, aside to note it appears Americans need even moar in order to be happy...

[Fenix]

Venezuela Sells Billions In Gold To Repay Its Debt
Submitted by Tyler D.
10/29/2015 - 14:21

Venezuela has two immediate bond payments due this and next week amounting to $3.5 billion. Where did the near-insolvent country obtain the funds needed to make these debt payments? The answer: it has been dumping its gold, which its former ruler Chavez worked hard in 2011 to repatriate from London, and which its current president Maduro, just four short years later, is busy sending back to its creditors.

[Fenix]

The BoJ Owns 52% Of The Entire Japanese ETF Market , And Now It Wants More
Submitted by Tyler D.
10/29/2015 - 11:41

Haruhiko Kuroda owns 52% of all Japanese ETFs. And now he wants more. Facing a lack of willing JGB sellers, the BoJ now faces the possibility that ramping up its easing efforts will entail expanding the bank's already elephantine equity portfolio. "At a fundamental level, I don’t support the idea of central banks buying ETFs or equities. Unlike bonds, equities never redeem. That means they will have to be sold at some point, which creates market risk."


BofA Looks At Europe's Record €2.6 Trillion In Negative-Yielding Debt, Is Shocked At What It Finds
Submitted by Tyler D.
10/29/2015 - 11:22

"The rise in household savings rates amid so much central bank support is paradoxical to us, and mimics what we highlighted in the credit market earlier this year. Companies in Europe are deleveraging, not releveraging"


The 'Smart' Money Has Never Been This Long The Long-Bond
Submitted by Tyler D.
10/29/2015 - 11:21

Back at the beginning of 2014 - when commercial traders were net long nearly 40,000 options and futures contracts on the US long bond - it marked the peak in yields and preceded a 13 month rally in bonds that took 30-year treasury rates from 4% to 2.25%. Now, as Gavekal Capital's Bryce Coward notes, the commercial traders, aka "smart money," were net long about 61,000 contracts, or 50% more contracts than the peak in 2014. If recent history is any guide then a 1 handle on the 30-year treasury bond could be a reality!

[Fenix]

US Threatens UK With Trade Barriers If It Leaves The European Union
Submitted by Tyler D.
10/29/2015 - 17:03

According to the Guardian, the US trade representative, Michael Froman, in the first public comments from a senior US official on the matter, said that "the United States is not keen on pursuing a separate free trade deal with Britain if it leaves the European Union."


Valeant Flash Crashes On Report CVS Terminates Its Philidor From Caremark blacklisted_site Network
Submitted by Tyler D.
10/29/2015 - 15:50

Moments ago VRX stock flash crashed on news CVS had just terminated Philidor from its Caremark PBM network: CVS CITES 'NONCOMPLIANCE' W/ PROVIDER PACT ON PHILIDOR; CVS MOVE BASED ON RECENT AUDITS OF PHILIDOR, DJ SAYS



Another Taxpayer-Funded Bailout, This Time For A Canadian Private Jet Maker
Submitted by Tyler D.
10/29/2015 - 15:50

Once more in this new normal in which we 'live', the necessary creative destruction of capitalism is eschewed in favor of saving a zombie company that the CEO admitted was "overwhelmed." The good news for American taxpayers is that it is Canadian taxpayers - via a generous $1.3 billion 'investment' by the Quebec government - that are bailing out private-jet-maker Bombardier. Following aircraft projects plagued by overruns, missed deadlines, and scant interest from airlines, Bombardier posted a $4.9billion loss in Q3. Well never mind that, Quebec taxpayers now own 49.5% of the challenged CSeries program.


Housing Bubble 2.0: Flipping A Home In These 20 Cities Results In A 102% Average Return
Submitted by Tyler D.
10/29/2015 - 17:58

The bottom line: the gross profit from a "flip" in any of these 20 markets will result in an average profit of just over 102% in as little under 7 months. Good luck.