One Reader's Reaction To Bill Clinton's Speech: "A Harlequin Romance Novel"

Donald Trump, perhaps unsurprisingly, was among the first to criticize former President Bill Clinton's speech at the Democratic National Convention last night, saying he left out "the most interesting chapter." As one eloquent Zero Hedge reader pinpointed: "That anyone still sees Bill’s performance art as sincere is proof of the gullibility of the Democratic electorate. He ‘admires and respects’ Hillary, yet he schtupped anything without a Y chromosome in the Oval Office."

"This One Is Very Surprising" - US Luxury Rental Market Turmoiling As EQR Cuts Guidance For 3rd Time

Those who still assume that US high-paying jobs are doing just fine, the following disclosure from EQR will be disturbing: San Francisco and New York, which account for half of Equity Residential’s projected revenue growth, are seeing a slowdown in hiring for jobs that pay enough to enable renters to afford the new luxury-apartment supply coming in those cities." As Mizuho said "this one is very surprising to us."

Is This How Trump Will Build The Wall Cost-Effectively?

Advocates of minimum wage hikes, should take notice of a company that just went public in Australia. The company is called Fastbrick Robotics and its Hadrian 105 robot can perform the equivalent of a full days work for a human bricklayer in about 2 hours.

Goldman Raises September Rate Hike Odds To 30%, Sees 70% Probability Of Another Hike in 2016

In the absence of Jon Hilsenrath, whose "post-Fed-Mortem" is strangely missing today from the WSJ (although we haven't checked the ultra exclusive WSJ Pro), here is Goldman's assessment, which considering who makes NY Fed policy, is even more appropriate. According to Goldman, after parsing the Fed statement, September odds have risen to 30% (from 25%), while December incremental rate odds are 40%, "implying a roughly 70% probability of at least one rate increase this year."

How Facebook "Accidentally" Blocked DNC Email Leak Scandal

Once again, the impartiality of Facebook’s news feature is being called into question. This time, the social network claims itaccidentally obstructed all links to the leaked Democratic National Committee emails published by Wikileaks just ahead of the party’s convention.

How Citi Is Trading The Fed's "Mildly Hawkish" Statement

"Best to trade long USD against the USD-bloc, our favorite being long USDCAD. Also EURUSD and GBPUSD to weaken - USDJPY might be a bit mixed until Friday. The market is likely to continue bias long-USD into NFP (which is still a week away), but given the trend in jobless claims, its hard not to have "some" positive expectations for next Friday."

Un-Dovish Fed Stays On Hold, Upgrades Economy, Suggests "Risks Have Diminished", George Dissents

Following the longest streak of positive economic surprise in history, the stability of China, the Brexit non-event, and equity market record highs, it is perhaps no surprise that The Fed - once again - punted its decision to hike rates, although it made it clear that a rate hike is far closer than the market expects by adding language that "near-term risks to the economic outlook have diminished."

Bridgewater's Culture Of "Probing" - Sex Scandal Strikes World's Largest Hedge Fund

Employee files sexual harrassment complaint where Bridgewater is described as a  “cauldron of fear and intimidation" where employees are exposed to constant video surveillance and encounters with patrolling security guards that "silence" employees who do not fit the Bridgewater mold. In light of these new developments, we're left wondering which particular "values" Comey carried with him to the FBI and exactly how far he "spread" them within the organization.

The Key Thing To Watch For In Today's FOMC Statement

The Fed is expected to stay on hold today. Given the Fed’s dovish reaction to the weak May employment report, SocGen expects that officials are likely to be reluctant to commit to any particular path just yet (despite the longest streak of economically positive surprise in US history). In the absence of any signal regarding the next hike, attention will fall on their characterization of the economy. Here are five things to watch in the statement...

What To Expect When You're Expecting The FOMC

As we await today’s FOMC decision, Bloomberg's Richard Breslow has been struck curious by how many people are speculating that the accompanying statement might lurch back hawkish. For a Fed that has had such notable lack of success seeing clarity in its crystal ball, that would be remarkably aggressive.

Detonation Reported Near Refugee Center in Zirndorf, Germany

According to German media Bayerischer Rundfunk, moments ago an explosion took place in the town of Zirndorf near the northern Bavarian city of Nurenberg. Bayerischer Rundfunk adds reporting that a suitcase filled with various cans exploded about 200 meters away from the local refugee center.

Oil Crashes To $41 Handle After Surprise Inventory Build, Production Rise

Despite last night's API-reported surge in Cushing inventories, oil futures surged into this morning's DOE data on the heels of terrible durable goods data. However, a shocking build in overall crude levels (+1.67mm vs -2mm) breaking crude's record 9-week streak of draws, sent crude prices reeling to a $41 handle (the lowest since April's Doha production free talks failed). Cushing also saw a major build as did Gasoline and production rose for the 3rd week in a row.