FBI Probing If "Russian Hackers" Breached The New York Times, News Agencies

It's them Ruskies again! With pressure on Obama over his visit to Louisiana, and Hillary facing an avalanche of headlines over her "email crimes," it is time for a distraction... CNN reports, hackers thought to be working for Russian intelligence have carried out a series of cyber breaches targeting reporters at the New York Times and other US news organizations, according to US officials briefed on the matter.

8 Of 12 Regional Feds Voted To Hike Discount Rate In July, One Shy Of The 9 Last November

This means that as of a month ago, two thirds of all regional Feds were urging Yellen to hike the discount rate; they were the following: Boston, Cleveland, Dallas, Kansas City, Philadelphia, Richmond, San Francisco and St. Louis. Those who voted to keep discount rate at 1% cited argument that outlook and below-target inflation supported keeping current accommodation in place; banks were Atlanta, Chicago, Minneapolis, and especially the New York. Clearly they dominated the discussion.

Venezuela's Latest Response To Food Shortages: Ban Lines Outside Bakeries

The tragedy of Venezuela continues unabated, but that doesn't mean the government of President Nicolás Maduro has stopped trying to fix problems. Maduro has reportedly instituted a policy of fining bakeries that allow lines to stretch out their front doors, according to PanAmPost, claiming the lines aren't a true indicator of a severe shortage of bread, but rather, a political "strategy of generating anxiety."

Why Today's 2 Year Auction Is Important

"the most important tell on sentiment will be the U.S. Treasury auctions. Especially as they involve the two-year and belly. Yesterday morphed from “uh, oh they’re hawkish” to “I knew I should’ve bought the damn dip.” Buy every dip when facing the possibility of a third big NFP in a row? Sure, if you believe in the status quo"

Clinton Health Questions: Off-Limits Or Legitimate Issue?

Hillary Clinton is 68 years old. She's been diagnosed with cerebral venous thrombosis; head trauma, pregnancy, cancer, brain infection, autoimmune diseases and inborn clotting abnormalities are all predisposing factors, per the Washington Post. She's currently taking blood thinners. Four years ago, Clinton fainted, hit her head and suffered a concussion. But lately many in the media have become outraged that Clinton's health is being broached at all.

Investors Panic-Buy Saudi Default Protection Ahead Of Big Debt Deal

Amid expectations that The Kingdom will sell bonds as early as next month, investors are panic-buying protection against default on Saudi Arabia. The last few weeks have seen a surge in CDS notional outstanding to its highest on record even as Saudi risk has stabilized after quadrupling in the last year.

The US Real Estate Big Picture... A Thesis In Moral Hazard

Given central banks are all in and have no credible ideas (or credibility period), a NIRP driven speculative new housing bubble (for a population that is barely growing...hello China?) seems most likely.  If you haven't already, get busy front running the next moral hazard moonshot and then stay tuned.  Because as you read this, central bankers are already devising their next (even more destructive) "plan".

Madness In Mario-World: European Companies Issue Debt Simply Because The ECB Will Buy That Debt

Things are so absurd in the Eurozone that the ECB is buying private placement debt with little regard for safety. In turn, private equity companies issue debt simply because they know in advance the ECB will buy it. It’s a startling example of how the market is adapting to extremes of monetary policy, and it’s a safe conclusion the experiment will not end well.

New Home Sales Soar Most Since 2007 Driven By Southern Sales Surge

While the accuracy of the new home sales data is notorious volatile, with regular revisions wiping out both up and down-side outlier prints, moments ago the Census reported that in July, the US saw a whopping 654K new home sales, up 12.4%, from the prior month and higher by 31% from a year ago, smashing expectations of a 580K print, and a -2% decline from last month's pre-revision print of 592K (since revised lower to 582K).

Richmond Fed Manufacturing Survey Collapses By Most On Record

Following flash PMI's drop, another early August indicator has collapsed as Richmond Fed's manufacturing survey plunges to -11 (lowest since Jan 2013) missing expectations of +6. The plunge from July's +10 to August's -11 is the largest on record - back to 1993.

Gilts Spike After Cover Ratio In Today's 15Y+ POMO Tumbles, BOE Buys All Bonds At Premium

While last week the UK bond market breathed a sigh of relief when the BOE found more than enough willing sellers into its longest-maturity, 15Y+ repurchase, or POMO, operation, following the uncovered operation two weeks ago, today concerns have returned anew when moments ago the BOE reported that its GBP1.170 billion repurchase operation was covered "only" 1.54x, down nearly by half from last week's 2.93x, and suggesting that supply of longer-dated gilts may once again be getting scarce.

US Manufacturing Flashes "Warning Light" As New Orders, Employment Tumble

Following the eurozone's disappointing drift lower in Manufacturing PMI (and weakness in German Services), August's US preliminary manufacturing PMI printed a disasppointing 52.1 (against expectations of 52.6). Weakness in Employment (lowest in 4 months) and New Orders underpin the drop from 52.9 to 52.1 as the 2 month hope-fueled bounce has faded...