No mass shooting incident today, but moments ago BNO news reported that the stuiod of Fox 45, also known as FOX Baltimore, has been evacuated after a man dressed in a hedgehog suit entered the building and claimed to have a bomb strapped to his chest.
Diamond has a good thing going with Quorum: they get access to ample credit, especially for those applicants with weaker credit profiles. From a Diamond investor's perspective, it would be a shame if anything changed. The post credit-crisis strategy of focusing on esoteric lending opportunities like VOI (as well as taxi medallions, hearing aids and fertility treatments) to generate revenues and membership has run into both a broader slowdown in the consumer credit cycle as well as more specific problems, like an increasingly worried regulator.
The panic-buying continues in the crude complex. Oil prices are up for the 3rd day in a row, trading up to $46 for the first time since December 4th 2015. Despite continued growth in inventories and worse than expected economic growth, it appears speculative traders in black gold just can't get enough...
With the price of oil creeping ever higher, mothballed shale oil production is quietly going back online.
In the wake of the Bank of Japan (BoJ) decision to stand pat, Japan looks to be in ever more desperate straits, given the growing danger of sliding into its second recession since Abenomics was introduced. Such a recession would be the nail in the coffin of Abenomics, launched with high hopes and much fanfare three years ago. It made sense, therefore, for Prime Minister Shinzo Abe to seek the advice of Paul Krugman, who has been one of the chief cheerleaders for Abenomics, in a private meeting last month meant to lay the groundwork for the G7 Summit at Ise-Shima next month.
This week's preceding 2 and 5 Year auctions, both tailing, were nothing to write home about, or as we characterized them "mediocre." We also said that a big part of the reason may have been the overhang from yesterday's Fed decision. But now that the Fed is out of the picture for 2 months, the real shape of the primary TSY market could show itself and sure enough it did with blistering demand for today's $28 billion in 7 Year paper.
"This is not about women serving in the infantry. The administration has made that decision unilaterally disregarding what the Marine Corps and special operations communities have said. But that's not what this is about. Right now the draft is sexist. Right now the draft only drafts young men. Women are excluded."
Comments made by Bernie Sanders this week may just have blindsided and disillusioned swathes of his support base. Some of those with higher expectations of the ‘peacenik’ candidate breathed a collective sigh of disappointment after he endorsed Obama’s extrajudicial drone assassination program.
We have been warning about China's speculative commodity trading bubble - spewing false signals around the world about the strength of the real economy - and now, as we suggested previously, Chinese authorities have decided to burst yet another bubble they created.Reuters reports that China's Securities regulator has ordered three major commodity exchanges to "control intraday speculation in commodity markets," ordering them to "curb trading for investors with no commodity industry background." Volume has crashed... and just as it did in the equity markets, price will follow.
It seems - just as we have seen since The Fed's December rate-hike decision - that The Bank of Japan's "shock" decision not to pour more punch into the global equity bull's bowl overnight has sparked another leg higher in the market's indicator of monetary policy incompetence. Gold and Silver are surging back near cycle highs...
Comfortably green, the VIX-smashing algos have lifted US equities non-stop since the NYSE machines were unleashed. While the Dow is lagging a little, Nasdaq and S&P futures have now made it all the way back up to Kuroda's Kamikaze moment...
80% of US companies beating EPS estimates is above the historical average. However, we note that in the last 10 years, the proportion of EPS beats was always well above the 50% threshold, suggesting that companies typically do a good job at managing analysts’ expectations. The actual delivered EPS growth is a better indicator of the underlying earnings backdrop, in our view. At -8%, the S&P500 Q1 EPS growth is the worst since ’09.