• Pivotfarm
    07/07/2015 - 13:55
    Corruption has been the coveted jewel in everybody’s crown since antiquity. Aristotelian philosophy believed that everybody who had power could become corrupt.

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European Equity Losses Accelerate: Does This Look 'Contained' To You?

Does this look contained to you?



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Bond Yields Are Plunging - 30Y Treasury Under 3.00%

With near record shorts in Treasuries once again, yields are collapsing as both a flight to safety and short squeeze send 30Y back below 3.00% for the first time in a month...



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Goldman Sounds The Siren: "Nothing But Risk Off: We Have Seen Zero Attempts To Buy The Dip"

"Bottom line: our early flow has been entirely one way: risk-off. Starting to get more much quiet now but have seen zero attempts to buy the dip or fade this move"



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Beware Greeks Bearing Nothing: Eurogroup Ends, Dijsselbloem Statement To Follow

In one of the shorter Eurogroup meetings in recent history, the Greeks came bearing nothing and today's "final, final, final" "last chance for a deal" conference ended just after 2 hours in. The Greeks may come back tomorrow bearing a new proposal but at this point it is rather clear what the endgame is. In a few moments expect Diesel-BOOM to explain why nothing got done again, and why it's on the Greeks if the Eurozone dominoes start falling next.



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"Unleash The Bullard" - S&P 500 Breaks Below Crucial Support

The last time the S&P 500 dropped below its 200-day moving average, The Fed's Jim Bullard rapidly stepped in to save the world... who will save the world this time?



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Peak Central Banker Hypocrisy: ECB Warns On ELA "Moral Hazard"

After hiking the haircuts on Greek banks' ELA collateral, the ECB decided it was time to apprise the market of its "risk management" procedures. The result: an epic display of central banker hypocrisy.



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Dow Dumps 250 Points From "Greece Is Contained" Highs

It appears that 'hope' for a deal (again) was entirely misplaced (again). Yesterday's 'containement' was all EURJPY-driven as BoJ and ECB held hands to maintain markets... it appears they have stopped for now...



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Spot The Very Odd One Out

One of these definitely does not belong with the others...



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The Biggest Winner From The Greek Tragedy

For every loser there is a winner, and in the case of Greece and its tragedy, just as millions are about to lose everything, a few not only made billions but quietly, under the guise of "sovereign bailouts" transferred their entire risk onto the taxpaying public.



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New Greek FinMin Arrives In Belgium "Empty-Handed", Will Submit New Proposal "Maybe" On Wednesday

At this point it is unclear who wants Grexit more: the ECB or Greece.



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Commodities Are Crashing

It appears the China-related margin calls are spreading... just as we warned.



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Greece "Matters" Again - Stocks, Silver, Copper & Bond Yields Are All Tumbling

Greece (or China) matters again...



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For Those Already Missing Varoufakis, He Was Just Sighted In Athens...

While the new Greek Finmin Euclid Tsakalotos is sweating to convince his peers at today's Brussels Eurogroup meeting, which was supposed to discuss the "latest" Greek proposal that the old, and rejected, Greek proposal is really Greece's best foot forward, a surprising development which will likely result in yet another very brief summit, his significantly more exciting, and polarizing, predecessor was just spotted in Athens having a far more enjoyable time.



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Iranian Oil Exports To Double Following Nuclear Deal

While not predicting that Tehran and six world powers will strike a deal by the new July 10 deadline, a senior Iranian oil official says his country hopes to nearly double its crude exports immediately if and when sanctions are lifted and hopes that OPEC will accommodate this growth by capping production by the cartel’s other members. “We are like a pilot on the runway ready to take off,” Mansour Moazami, Iran’s deputy oil minister for planning and supervision, told The Wall Street Journal inTehran on July 5. “This is how the whole country is right now.”



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