Why Trump Is Routing The 'Free Traders'

"The returns from free trade are in, and the results are rotten....Is what is best for the world now more important than what is best for America?"

Price Discovery - R.I.P.!

But the destruction of price discovery in the sovereign debt market is not simply an academic curiosity to be jawed about by the few remaining fiscal scolds in the world. To the contrary, it is already having massive toxic consequences in the arenas of fiscal governance and capital markets alike.

With 5 Million Unemployed, Spain Still Can't Find Workers

With soaring youth unemployment, and close to 5 million people out of work overall, one would assume that the last problem Spain would encounter would be that it can't find workers to fill open jobs. However, as Bloomberg reports, Spain is facing labor shortages as employers struggle to find capable employees.

"Giant Meteor For President" In Virtual Tie With Trump & Hillary Among Independents

In what has become a presidential race based almost solely on scorn for the candidates, the establishment, fraud at the polls — and, hell, the entirely stale and wholly rigged electoral process — it’s clear no one will win in the traditional meaning of the word. While third party candidates have experienced growing success in the dearth of acceptable duopoly offerings, a dark horse has emerged. According to Public Policy Polling, ‘Giant Meteor for President’ now ranks as a serious contender — garnering “far more support than the third party candidates actually on the ballot.”

Pershing Square Lays Off More Than 10% Of Employees

Pershing Square, one of the worst performing hedge funds of 2015 and 2016, has laid off eight lower-level employees this week, the WSJ reports. The cuts, which largely involve back-office employees in technology and investor services, amount to more than 10% of the activist hedge fund’s staff.

Commerzbank To Cut Over 100 Bankers In NYC

Over the past few months we have witnessed massive cost cutting efforts (ie: firing of bankers) by many firms, Goldman, BAML, Nomura and RBS to name a few. Now it's time to add Commerzbank to the list of firms that need to fire people in order to try and cut enough costs to maintain earnings amid slumping revenues.

Art Cashin Sums It All Up

"The market is more powerful than the Fed. That's the problem." - In other words... Let the market clear!!

Czech President Calls For EU, NATO Referendums

“I disagree with those who are for leaving the European Union,” Czech Radio quoted Zeman as saying on Thursday evening, according to Reuters. "But I will do everything for them to have a referendum and be able to express themselves. And the same goes for a NATO exit too."

Oil Dips As Rig Count Rises By Most Since 2015

It appears oil traders have no interest in rig counts anymore (for now). With an 11 rig increase - the most since Dec 2015 - the rig count continues to track the lagged price rise in WTI. However, the market has just shrugged it off for now...

Driver Of Self-Driving Tesla Was Watching Harry Potter At Moment Of Death

Frank Baressi, 62, the driver of the truck and owner of Okemah Express LLC, said the Tesla driver was "playing Harry Potter on the TV screen" at the time of the crash and driving so quickly that "he went so fast through my trailer I didn't see him." "It was still playing when he died and snapped a telephone pole a quarter mile down the road," Baressi told The Associated Press in an interview from his home in Palm Harbor, Florida. He acknowledged he couldn't see the movie, only heard it.