Unexpectedly

BofA's Ugly Quarter: FICC Unexpectedly Slides, Bank Tries To Mask Weakness With Massive Reserve Release, Buyback

While nowhere near as ugly as Wells Fargo’s dismal results, moments ago Bank of America reported results that while beating on the bottom line, left quite a bit to be desired, mostly as a result of disappointing sales and trading results, particularly in FICC, which declined 5% “as weaker trading performance in macro products and…

Setting The Stage For Bitcoin's Rally Above $100,000: Unexpectedly Low Volatility

As Bloomberg markets live editor Jeffrey Chaffa writes, “never in Bitcoin history has volatility been lower during a similar price rally” which he thinks sets the stage for a more orderly rally for the cryptocurrency, one which could push it to 6-digits: “we see signs of a multi-factor rise toward $100,000 in 2021 if past…

Beijing “Unexpectedly” Injects $30 Billion Into Financial System, Sparking Doubts About True State Of China’s Economy

Back in late 2019, we were frequently greeted by headlines such as this, indicating that PBOC was periodically making “unexpected” liquidity injections, which made sense in light of China’s ongoing economic slowdown: … and: Fast forward one year, when China’s economy is supposedly growing at a blistering pace thanks the massive credit injections following the…

Foreign Demand Unexpectedly Plunges For Record Big 3Y Auction

There were two ways to read today’s 3Y auction. As refunding got off to a start with today’s auction of a record big $54 billion in 3Y notes, an amount that is more than double the average 3Y auction in the 2015-2017 period… … the headline results were not bad: the auction priced at a…

Official Overseeing US Nukes Unexpectedly Resigns After Clash With Energy Chief

The official who oversees the nation’s nuclear weapons stockpile has unexpectedly resigned, or as Bloomberg White House correspondent Jenifer Jacobs reports, it appears she was pushed out.  Lisa Gordon-Hagerty has been head of the National Nuclear Security Administration (NNSA) since 2018, the first woman to ever serve in that position, which is a semi-autonomous arm of Department of Energy…