"It Just Occurred To Me" - Trump Proposes Boycott Of Apple, While Tweeting From An iPhone

Moments ago during a campaign event in Pawleys Island, South Carolina, Trump had an epiphany: "It just occurred to me." His solution: a boycott of Apple Inc products until the tech giant agrees to U.S. government demands that it unlock the cellphone of the San Bernardino killer. "Boycott Apple until such time as they give that information," Trump said.

$500 Million In ISIS Cash "Reserves" Destroyed By US Airstrikes, Officials Swear

ISIS isn't handing out free Snickers bars and Gatorade to its fighters anymore. In fact, the group is cutting salaries by 50% due to the "exceptional circumstances" facing the caliphate. The US is keen on taking credit for the militant cash crunch and now says coalition airstrikes are resonsible for $500 million in vaporized cash.

Bank of America: "Corporate Balance Sheets Are The Most Unhealthy They Have Ever Been"

"...in a world where corporate balance sheets are arguably the most unhealthy they have ever been (all-time high leverage in HG and HY) where companies have relied on cheap debt to fund a growth through acquisition strategy, what happens if funding is either unavailable or too expensive to make a growth through acquisition strategy make sense? Same goes for buybacks and special dividends?"

Sam Zell:"We Are Already In Recession"

"We are either already in a recession or rapidly moving towards one," warns billionaire investors Sam Zell. A stunned Maria Bartiromo is shocked to hear from Zell that world trade has slowed dramatically and currency wars and election uncertainties have contributed to this. Most shocking of all to the Keynesian pump-primers (and oil bulls) is Zell's remarks that "when I look around the world for prospective demand, it's not there... demand is pretty weak." Markets are not pricing in recession and Zell warns, even with recent declines that "this is pretty frothy" thanks to easy money and he is a seller not a buyer.

Irony? "Credit Crash Warning" Icahn May Be Cut To Junk By S&P

Having warned - correctly - of the impending collapse of the US credit markets last year, it just seems ironic that Carl Icahn's firm has been downgraded to "watch negative" from stable by S&P, implying a cut to junk may be imminent. Just as we detailed earlier, activist investors have suffered greatly in the oil rout, and S&P cites declining investment values in the firm's portfolio, which have smashed the loan-to-value ratio up to 45% (a crucial threshold for the ratings agency).

US Oil Rig Count Collapses At Fastest Rate In A Year

Rig counts dropped for the 9th straight week but for the 3rd week in a row, US oil rig counts dropped heavily (down 26 this week after -28, and -31 in the last 2 weeks). The 85 rig drop is a 17% plunge over 3 weeks - the fastest pace since Feb 2015, and 2nd fastest since Feb 2009.

"What The Hell Is Going On?"

The last few days have been "odd" according to one veteran trader and today's moves, with USDJPY plunging, S&P 'steady', and XIV (the inverse VIX ETF soaring) left the same trader exclaiming "what the hell is going on?" More unwinds from equity market-neutral funds? OPEX impacts? Or just the death-throes of a Fed-fueled market gasping its last breaths...

Is Oil Wastewater A Cure For California’s Drought?

As California grapples with a historic four-year-long drought, and farmers skimp on water for crops in the face of fines, oil wastewater is becoming both a laudable and uncomfortable answer to water woes.

The Last 2 Times "Financial Stress" Was This Extreme, The Fed Unleashed QE

The Cleveland Fed Financial Stress Index has been rising all year and just broke out to what The Fed describes as a "significant stress" period. The last two times this level of financial instability was breaking out across US markets Bernanke unleashed QE1 (Q1 2009) and Operation Twist (Q1 2012). The question is - following a rate-hike just a few weeks ago - how quickly The Fed capitulates back to Bullard's call for QE...

The Efficient Market Theory Is Long Dead (And Central Bankers Are Just Realizing It)

Recognizing that there is mostly gray rather than the polar opposites black (efficient - market knows best) and white (markets irrational and biased) is even more vital in a world where exogenous shocking (including central banks) and systemic distortions (computer algos) have made if-then statements decidedly precarious.

China Stops Reporting Key Data Showing Size Of Its Capital Outflows

It appears that China has finally figured out this loophole to track the PBOC's attempts at masking the sheer size of its outflows, because as SCMP reported overnight, "sensitive data is missing from a regular central bank report in China" ... Financial analysts say the sudden lack of clear information makes it difficult for markets to assess the scale of capital flows out of China.