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Apply Now: Saudi Arabia Is Hiring 8 Executioners

If you happen to be particularly adept at wielding a sword and believe strongly that stiff penalties for crime play an important role in deterring future misdeeds, you might consider joining Saudi Arabia’s Ministry Of Civil Service as a “Perpetrator Of Retribution.”



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The Looming Russell Rebalance – What You Need To Know

With over $4 trillion invested in Russell index-linked products, this year’s rebalance combined with the “Will they/won’t they” Fed rate increase debate could make for an eventful start to summer.



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The Real Reason Draghi Is Front-Loading Q€ (In 1 'Disappointing' Chart)

When US Macro data started to crumble after QE3 ended last year, and with it US equities, The Fed unleashed Jim Bullard to suggest that QE4 was possible if things deteriorated... and in that moment, everything broke. The last few months have seen expectations of a European recovery dashed as macro data has disappointed greatly - now weaker on the year. So what is Draghi to do? Easy - Fed playbook: unleash Benoit Coeure to suggest moar QE sooner and maintain the illusion of future success in stock prices (even as data collapses)...



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How To Spot Groupthink Among Economists

  • A tendency to examine too few alternatives; A lack of critical assessment of each other’s ideas;
  • A high degree of selectivity in information gathering; A lack of contingency plans;
  • Poor decisions are often rationalised; The group has an illusion of invulnerability and shared morality;
  • True feelings and beliefs are suppressed; An illusion of unanimity is maintained;
  • Mind guards (essentially information sentinels) may be appointed to protect the group from negative information.


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Will Treasuries Make It 10 Out Of 10 Yield Rises As 1330ET Looms?

For the last 9 days in a row, no matter what is occurring in the markets, US Treasuries have begun to sell-off at 1330ET... Some have suggested this points to funding issues being a driver of recent weakness, with the USD up by the most in 2 days since oct 2011, we shall see if the need to sell down USTs is there for the 10th day in a row...



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Why You Should Vote For Nobody



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Recession Check: Updating The Indicators

The largest problem with the data sets below is that they are all subject to large historical revisions. This is why the NBER is ALWAYS well after the fact in pronouncing the start and end of recessions in the U.S. economy. Given the ongoing interventions from the Federal Reserve and the current administration, it is likely that many of the statistics, and seasonal adjustment metrics, have been skewed in recent years. In the quarters ahead it is likely that we could see rather sharp adjustments to historical data which may suggest the economy has been far weaker than headline statistics have suggested.



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State Department To Release Hillary Emails... In January 2016!

The good news: A federal judge on Tuesday ordered the U.S. State Department to produce a schedule for the release of emails that Hillary Clinton sent and received while she was secretary of state, a legal move that could complicate her presidential campaign.

The other news: The State Department is proposing a deadline of January 2016 to complete its review...

You just can't make this up!



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What The Fed's Computer Model Predicts About The Future Of The US Economy

It could go up, or it could go down.



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Each Day Without Debt Deal Costs Greek Economy €22 Million And 613 Full-Time Jobs

It’s no secret that the protracted negotiations between Athens and its creditors are taking a toll on the Greek economy in general, on the Greek banking sector more specifically, and on Greek citizens most tragically. Now, thanks to a new report from the Hellenic Confederation of Commerce and Enterprises, we can quantify the daily economic toll of failed negotiations.



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Spot The Housing Starts Outlier

Earlier today, housing starts shocked to the upside when they printed at 1.135MM, smashing estimates of 1.015MM, and representing the single biggest monthly jump since 1991. The entire surge was due to one single number.



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Why Chicago Bonds Are Junk, In 7 Charts



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WTF Chart of The Day: China Suspends Chinese Lottery Firm, CEO Resigns; Stock Rallies 25%

Filed under WTF - 500.com Limited (WBAI) - the Chinese online sports lottery firm - announced today that the Chinese Ministry of Finance and Ministry of Civil Affairs, demands they temporarily suspend accepting online purchase orders for lottery products. This means 500.com is not cuirrently generating any revenue at all. The CEO and another Director of the firm resigned. The result... a 25% surge in the stock price!!!



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Over 200,000 Greeks Apply For Humanitarian Crisis Relief

UPDATE: Greek Default Would Mean Poverty Trap, Dijsselbloem Tells VN

The Humanitarian Crisis Relief program was one of the top priorities of the SYRIZA-Independent Greeks coalition government and it was pushed forwards despite the Troika-Institutions objections. After the EU leaders Summit end of March, EU Commission President Jean Claude Juncker had announced to release 2 billion euro to tackle the Greek humanitarian crisis. While it is not clear if Juncker sent the money or not, As KeepTalkingGreece reports, 212,897 Greeks have so far submitted requests to be part of the Humanitarian Crisis Relief Program. 1st world or 3rd world?



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Commodity Carnage

The surge in the USDollar and "good" housing data has created carnage in commodities. Silver, crude, copper, and gold are all getting hammered this morning as the S&P is unchanged as moar Q€ was trumped by hawkish "good" data...



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