Now you can substantiate to today’s generation why that '60s and '70s era’s music was objectively "better," as JPMorgan's CIO Michael Cembalest has previously noted, and furthermore, researchers also found that popular music has gotten a lot louder (as SAT scores have plunged.. hhmm?) However, as Consequence of Sound notes, a software application writer by the name of Virgil Griffith has charted musical tastes based on the average SAT scores of various college institutions... and the results are.. interesting. Bob Dylan, The Shins, Radiohead, and Counting Crows are the favorite bands of smart people. Meanwhile, Lil Wayne, Beyoncé, The Used, and gospel music comes in at the lower end of the spectrum — or, as Griffith puts it, is music for dumb people.
"If there's no water for people to live, and you don’t have the basic necessities of life, your population is going to leave," warns the emergency services manager of one California town, warning that as the drought continues (and is not set to ease anytime soon), "you could see the economy of this area just decimated." But as farmers face the catastrophe with "water levels dropping at an incredibly rapid rate in some places - like 100 ft a year - 10 times expected," there is another drain on the dry state's water sources. As The FT reports, "Marijuana cultivation is the biggest drought-related crime we’re facing right now," with up to 80 million gallons of water per day stolen by heavily armed marijuana cartels.
In yet another blow for the doctors fighting the spread of this deadly disease, AP reports, Mali's health minister says the West African country has confirmed its first case of Ebola. Despite every effort to close borders, quarantine areas, and now send US troops (to do... well we are not sure really), Mali becomes the sixth West African country to report an Ebola case. This dismal news comes just hours after the WHO director general said he had "reasonable confidence" that the Ebola virus plaguing three West African ountries had not spread into neighbouring states.
Statement On Suspect Ebola Case From Dr. Howard Zucker, Acting Commissioner, New York State Department of Health
The only six charts you need to know why the Amazon dream is over and why AMZN stock is currently crashing after hours to fresh 52 week lows.
Buyback-manipulated earnings produced the low-volume opening face-ripper everyone wanted and stocks took off, recovering yesterday's late losses and not looking back.Trannies were the big winners, led by a resurgence in Airlines (as Ebola in US is fixed) and, despite drastically lower than average volume, stocks kept lifting after EU close on a bed of AUDJPY and USDJPY... until 1450ET (when NYC Ebola headlines hit). Airlines were hit hard, S&P futures dumped back to VWAP, VIX was whacked back above 17, and the exuberant day transformed into merely a great day for stocks. Weakness in Treasuries and the HY bond ETF (despite notable compression in HY spreads) had the smell of a lot of HY issuance being hedged and unhedged but TSYs ended the day up 6-7bps (off their highs post-NYC-Ebola headlines). The USD rose for the 3rd day in a row taking gold lower. Copper (China) and Oil (Saudi) rose on the day (oil unch on the week).
130 banks are being tested. 12-18 will fail. And on top of that, almost a third of 130, that’s over 40, will pass while still getting their feet wet. That means anywhere between 40% and 44% of Eurozone banks either fail or are in bad shape. If 40% of your banks are either dead in the water or barely floating, I’d say you have a major problem. We all know our world, be it politics or economics, consists almost exclusively of spin these days, but in the face of these numbers we very much wonder how many people will be willing to bet their own money that Europe can get away with another round of moonsmoke and roses come Monday.
While VIX pumped-and-dumped (in a manner never seen before in its history), 'real' volatility of the day to day moves across the major stock indices remains extremely elevated. For the Nasdaq and Dow Transports, the average true range over the last few weeks is the highest since the post-Lehman collapse...
Why would one even look at a self-reported survey as an indicator of coincident activity: after all isn't it beyond obvious that every response will be full of confirmation bias and colored by the respondent's inherent optimism about the present and the future? Apparently it isn't, and neither is it obvious that for all business participants, hope dies last, something which always influences their responses. The problem is that in a world in which central banks have made a mockery of all other coincident signals, one has to dig very low. "We've used this measure less over the last couple of years as central banks have increasingly distorted the relationship between fundamentals and valuation" says Deutsche Bank's Jim Reid. And as Jim Reid shows in the table below, the various regional PMIs have so consistenly overshot in their expectations of where the manufacturing and service sector of a given country is throughout 2014, that not even the market believes, well, Markit.
What do an old German bank note, a current $100 bill, and an apple all have in common? The answer, according to ConvergEx's Nick Colas, is that these simple objects can tell us much about the current investment scene, ranging from Europe’s economic challenges to the U.S. Federal Reserve’s attempts to reduce unemployment. Colas takes an “object-ive” approach to analyzing the current investment landscape by describing 10 common items and how they shape our perceptions of reality. The other objects on our list: a hazmat suit, a house in Orlando, a barrel of oil, a Rolex watch, a butterfly, a heating radiator in Berlin, and a smartphone.