Bitcoin Spikes To Record Highs

US dollar prices for virtual currencies are soaring. Both Bitcoin ($1343 highs) and Ethereum (as we described previously) are at new record highs as China regulators/exchanges appear to have 'stabilized', fears over the so-called 'hard fork' have abated, and hopes for an ETF have been revived by an SEC review.

UN To Trump: Obamacare Repeal Would Violate "International Law"; Would Also Be Racist

"I would like to bring to the attention of your Government information I have received concerning the possibility to repeal core elements of the Affordable Care Act (ACA) with negative impacts on the right of everyone to the enjoyment of the highest attainable standards of physical and mental health in the United States, in particular those with moderate or low income and in situations of poverty or social exclusion."

Japan Warns Citizens To Prepare For North Korean Missile Attack

As the United States begins to move elements of its Terminal High Altitude Area Defense (THAAD) system to a deployment site in South Korea earlier than expected - in the name of defending against the “evil North Korea” of the mainstream narrative - Japan is warning its citizens they’ll have little time to find safety if Kim Jong-un launches an attack.

Stocks Slump As Putin Warns Korea Situation Is "Deteriorating"

Having been unable to stage any kind of recovery from yesterday's Trump Tax Plan disappointment, comments from Vladimir Putin that "the situation in Korea is deteriorating" urging all sides to "avoid belligerent rhetoric" along with remarks by Chuck Schumer over the short-term spending bill (to avoid government shutdown), has sparked a leg lower in US stocks...

China To Test New Weapons, Stage Live Fire Drills In Retaliation To US THAAD Deployment

"The deployment of the THAAD anti-missile system in South Korea damages the regional strategic balance and stability. The Chinese side is resolutely opposed to this. China’s military will continue to carry out live-fire military exercises and test new military equipment in order to firmly safeguard national security and regional peace and stability."

Pentagon Inspector General Launches Investigation Of Michael Flynn

The office of the Pentagon inspector general opened an investigation to determine whether former national security adviser Michael Flynn failed to obtain approval prior to receiving payment from a foreign government, according a document published by Elijah Cummings.

Pending Home Sales Drop In March - Stagnant For 2 Years

Contracts to buy previously owned U.S. homes declined in March after rising a month earlier by the most since 2010, as perhaps the seasonal exuberance gives way to affordability constraints. Despite NAR's comments that "home shoppers are coming out in droves this spring," it is evident from the chart below that pending home sales have been stagnant for almost two years.

JPM Cuts Q1 GDP Forecast To Just 0.3%

We now believe that real GDP increased 0.3% saar in 1Q. Turning to today’s reports, the flurry of information was a negative for 1Q growth on net, mainly through the inventory components.

"Amber Warning Sign" Issued For EURUSD Bulls

Having moved to new highs in this up move above the 1.0906 March high, EURUSD looks to be struggling to sustain those gains. As a consequence there is a danger that triple momentum divergence is forming on the daily chart.

Bernanke 'Terrifies' Stock Investors, Again

If you are a stock investor, you should be terrified. The most disconcerting words have been uttered by the one person capable of changing the whole dynamic. After spending so many years trying to recreate the magic of the “maestro”, Ben Bernanke in retirement is still at it.

Euro Spikes On Upbeat Draghi Comments, Then Drops On Muted Inflation Outlook

Well that didn't last long:moments after the EUR spiked on Draghi's upbeat economic comments, it has since filled the entire gap and is back to session lows after Draghi talked down Eurozone inflation saying there is no sufficient evidence to alter inflation outlook, and no evidence of a self-sustaining inflation move.

Q1 GDP Takes Another Hit As Wholesale Inventories Slide In March

With non-hope-based GDP forecasts for Q1 at cycle lows, today's wholesale inventories decline will not help. After dropping in January, and rebounding in Feb, March saw inventories drop 0.1% (against expectations of a 0.2% rise). This is the first quarterly decline in wholesale inventories since Q1 2016 (when the world was feared to be heading into recession).