Loading ...Re: real estate Yeah how screwed is that illiquidity! and like you say what if your buildings are in NYC with Mamdani running things? More taxes and rent control on the way!
That Belgian guy has deep pockets! 🙂
So, if UBS does it
doesn’t that mean that every real estate fund out there will do the same thing?
Imagine needing that money for some emergency and counting on it being there, they’d be Abetter off marking it to market and making what little funds available.
I read yesterday that the CA. public pension plans are between $250 billion – $1 trillion underfunded. The pension plans cannot be renegotiated and are to be paid out ahead of CA. bondholders. This is the result of years of firefighters and police retiring with $250K pensions, teachers over $100K, lifeguards even over $100K. It’s all a ponzi scheme. estimates that CA. would file for bankruptcy within 3 years and would even drag down the funds of red states.
This country is so forked.
This might be a brown trouser moment for Bitcoin…. eating into support
and check out the Au/BTC ratio….nice saucer base here
and then look at the longer 9 year base….can we get back those hi’s or better !!!!
ipso facto
re Real Estate….same here…was told by someone who used to value commercial real estate, now retired but still in contact with old colleagues….quote they have NEVER seen it this bad ……
When yields were damn all she told me loads of people were trying to use Real Estate as a yields producer for funds…she refused to get involved, as she knew how illiquid it was in healthy times, let alone bad ones……I bet there is a chunk of money locked in around the Globe.
PS then they elect commie cretins as Mayors, see London and NY.
Re Bonds….looks like they managed to wake up the Postmaster up in that Belgian town, with 100 people and once he sobered up, after a 4 hour lunch, he started bidding …!!!!!
Peachy
Wide Awake Media
@wideawake_media
Dr. Ben Marble says it’s time to stop accepting blood from people who took the Covid injections.
“The entire blood supply in America, and basically the whole world, is contaminated with the spike protein poison bioweapon.”
“We’re seeing patients that get blood transfusions that are unvaccinated, and suddenly they get blood clots or have heart attacks or strokes.”
Buygold
Fingers crossed brother!
Ipso
That’s what I’ve been waiting for. Gold $20k and real estate in the tank.
I hope something has shifted today.
No Cash for You! ……………. Could be ugly!
FXHedge
@Fxhedgers
🚨 Is this the beginning of a repeat of Lehman Bros 2008?
UBS just halted withdrawals of a $469 million real estate fund and told investors they can’t have their money back for up to 3 years.
Why does this matter? Back in June of 2007, Bear Stearns did the same thing at two of their hedge funds. One year later, Lehman Brothers collapsed and the global financial crisis happened.
UBS looked at their real estate portfolio, realized the buildings are not worth what they paid for them and they cannot sell them without admitting HUGE losses.
Commercial real estate office vacancies are at record highs. Buildings are worth a fraction of what they were. Everyone has been trying to avoid marking their portfolios down to actual current value. But they cannot ignore it any longer.
It’s a Friday
Is there some sort of news coming after the bell that would cause pm’s to rally?
Or is the fall of the dollar set to begin?
Rates are backing off for some odd reason.
What’s happening here?
This is the best action we’ve seen in many moons.
maddog – as you say “breaking all correlations”
Well this is very different…not complaining …I can find a million reasons why….
but to break all correlations, just like that is extraordinary……
Buygold
Are we getting a little traction in our segment with the SM getting beat up? Feels good! 🙂
Maddog @ 9:19
“Robot coal miners”
Someday in the future blue haired leftists will be screaming and carrying signs saying: “DONT EXPLOIT THE ROBOTS THEY ARE SENTIENT BEINGS!” 🙂
Agreed Captain
It feels like the bond vigilantes and the stock market are both on the precipice…..
Wouldn’t be surprised if there’s some sort of announcement over the weekend…
Trump and company are in a pickle …
… all the lying cheating and backstabbing have led them to their Waterloo … as the weak and not so bright Iranians
(to quote The Donald) are not backing down … and neither are the bond vigilantes … that’s why I love gold …
… the look of it … taste of it … the smell of it … the texture … chuckle.
Monday could be an interesting day for the stock and bond markets depending on what happens over the weekend.
Mornin all
This is interesting if we can hold up
How great would it be if the pm sector held up today with the SM down, oil, rates and the dollar up?
It doesn’t seem likely just yet, but I think ultimately there’ll be a rotation into pm’s.
maddog – I guess we’ll know we’re in the soup when rates go up and the dollar starts falling, but I think that would be great for gold because it would signal a distrust of gov’t. debt.
ipsofacto
Robots will be the answer to coal…even early ones being ‘driven’ by operators above the ground, then we get the automated self driven ones….working 24/7, no matter how far down…..would be worth buying a few coal stocks and putting them in a draw…..as soon no one will give a damn about Co’2 etc…..
Robots will be able to produce vast amounts real cheap.
As to the Tar Baby….I see no signs of worry on Goldie or Tousi…..they reckon the plan is working just fine……ysdty they said the Regime is putting 12 year olds on the check points….that was what Adolf was reduced in the final days…..that is a Regime getting desperate.
UK 10 yr Gilts take out the ‘magical’ 5 % level…..not what the government was hoping to see …..
Breaking up from large bull flag….ie rates are going way further…..which means Oil may not fall v soon…or not fall too far.
Weekend headlines will be all bad…shame .
Maddog @ 5:26
Seems like eventually the coal reserves in GB and the US are going to be tapped, made into fuel or to power the power plants. It will be a necessity. That is unless technology unlocks some new sources of energy, fusion or something else.
This Iran war is turning into a bigger tar baby than Trump and his advisors were thinking. Hopefully the Republicans don’t get wiped out in the mid terms! If American soldiers are being killed on the ground that will be a giant negative.
goldielocks
We don’t have elections until 2029, the current government, if u can call it that, will never step down early……so we wait…..but come 2029 things will change big time.
Almost
We were hanging in there until London opened and then the three amigo’s – oil, the dollar and rates woke up and pissed in the Cheerios. All higher now with rates above 4.45%. Remember, 4.5% rates are the jumping point, as in off the SM cliff. Markets desperately need the war to end as we escalate with ground troops while talking about a deal. There’s the rub, everyone who talked deal with Witkoff and Kushner was assassinated. So, no more talking to them, they want JD Vance.
Would be nice if the 200 dma’s held, but I think there’s little hope of that with the SM in trouble. So how low can we go? Always a lot lower than we ever think possible.
But, Bitcoin is down 3% too now, so nothing is working.
And….silver is the first to buckle, who wouldda thought?
Narrative vs what might be really going on.
For those who don’t know much about Simon he chose to believe the Koran is real but he’s half Jewish. ” In the financial sense he’s very gifted about. ‘
I decided instead of waking up now to watch the market to watch the phyzz and picked up a little more. While watching this video other hand cuz it’s long and full of things I didn’t know I had to absorb. Better than that MK of MLK or whatever it’s called horrible.
China Blackrock JPM strait of Hormuz to renegotiation of 50 of the most important energy minerals food components
we are categorically going through a reset.
The financial industrial complex vs the military industrial complex
were seeing basically the transitional capital using the US military to kind of go in and get rid of the IROC hardliners, kind of stragically weaken Israel as well as get the US bases out of the region and set up the Gulf Coast area to be opened up to markets maybe get some stability to the region too. The China April summit might see a proposal of what things are going to look like.
Iran is selling 90 percent of its oil to China. The strait of Hormuz is open to China.
 They need to crash the price of oil and there’s only one way to reach a peace deal with Iran.
It goes on the past Iran Contra Saudis 911 , the future of Israel
That Isreal has benefited from anti semitism.
They were used for war too. without war their reason for existence will run out. They will be privatized by groups like Blackrock.
The military also involved in radicalizing evangelical Christians by rewriting the Bible. the Schofield Bible. Also we’re in olved in ISIS and Al Qaeda training camps funded by USAID that was accidentally revealed.
They were constructing religious wars or what they thought they were fighting about.
Weapomize social unrest with surveillance and social credit scores.
Which the net zero also to be used to lock people down to control them. Don’t drive too much now. Slowly removing their gas. Now suddenly all at once that now exposes their plan and what damage it will do including starvation and threat to the survival of their country.
Back to the video, very long but very detailed what you won’t hear in the media. posted a few days ago.
Maddog
Well the good thing is while your importing you still have them and prolong that 1000 yrs once you get out the nut zeros. But if you don’t do anything about your borders the mid east will have that too.
ipso facto
Re Energy imports…Most of the Countries that have gone heavily Nut Zero are similar to Aussie…..the UK off the top of my head imports at least 60 % of it’s energy needs , even though we still have North Seagas and Oil and sit on 1000 years of Coal and by that I mean we have enough coal to supply all our energy needs for 1000 years….
We also have damn all storage or Refining capacity……so all of those countries are now in the shiite and are howling like stuck pigs, if Hormuz stays shut/not operating fully…….yet none of those same nations will help the US and Israel.
There are going to be some big geopolitical changes coming soon, as Aufever pundits suggest……