It appears that after years of attempts to quietly, then not so quietly sell itself, the increasingly troubled former internet portal giant may have finally found the "greatest fool" thanks to Verizon. According to Bloomberg, Verizon is the lead bidder for Yahoo with a total consideration of about $5 billion, and an announcement may come in the next few days.
In December we warned of her career's "terminal decline," and it appears, just as with Dominic Strauss-Kahn, someone is upset at the IMF Director (perhaps she has just been too darn negative, or pushy towards policy-makers?). In a surprising twist for 'the establishment' Bloomberg reports that Christine Lagarde may face consequences for her actions (or lack of them). France’s Supreme Court rules that The IMF director will have to stand trial for alleged “negligence” in accepting an arbitration panel decision in favor of a French businessman.
Sterling plummeted nearly 200 pips this morning, after rising in early trade to just shy of 1.33, when the latest July Markit flash PMI surveys suggested the UK is heading for a quick recession in the form of a 0.4% GDP contraction in the third quarter. As Markit reported, "July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009."
After breaking a multi-year stretch of 9 daily record highs in the Dow Jones, overnight global markets saw some early weakness with Asian stocks retreating after BOJ chief Kuroda dashed hopes for so-called helicopter money, triggering yen’s steepest rally in a month and pulling the Nikkei lower by 1.1%. This however did not last long, and around the European open the traditional ramp in the USDJPY helped European equities shrug off early downside, while US equity futures have already recovered half of yesterday's losses.
Sounding another alarm for progressives wary of the Democratic establishment's support for Wall Street, the man said to be leading the pack of potential Hillary Clinton running mates- Virginia Sen. Tim Kaine - has just this week sent a clear message to big banks: He's in their corner.
Proclaiming his support for new British PM Theresa May, former UKIP head Nigel Farage explained "she has said ‘Brexit means Brexit’ and I believe her," before announcing plans for his European Referendum Tour during a much at the Republican national convention yesterday. Farage told Politico that he would start a tour of European cities in September to help spread the appetite for referendums on EU membership beyond the UK.
Is the genie finally out of the bottle?A myriad of seemingly unrelated events and loose ends are converging in a manner that points in the direction of a huge win for Russian diplomacy in the Middle East, and we only need to connect the dots to see this scenario unfolding. What dots, one might ask?
To all Americans tonight, in all our cities and towns, I make this promise: We Will Make America Strong Again. We Will Make America Proud Again. We Will Make America Safe Again. And We Will Make America Great Again. THANK YOU.
"My rights as a journalist or US citizen do not apply at the border, as explained above, since legislation was quietly passed in 2013 giving DHS very broad powers (I researched this since the incident). This legislation also circumvents the Fourth Amendment that protects Americans' privacy and prevents searches and seizures without a proper warrant."
"Wall Street bankers inflate bubbles in everything from government bonds to Hillary Clinton's speaking fees... Americans get paid less today than 10 years ago. But healthcare and college tuition cost more every year... Our nuclear bases still use floppy disks. ... Instead of going to Mars, we have invaded the Middle East. We don't need to see Hillary Clinton's deleted emails: her incompetence is in plain sight... Now we are told that the great debate is about who gets to use which bathroom. This is a distraction from our real problems. Who cares? "
"Sorry, folks, but we got our freedom and we squandered it fewer than a handful of centuries. We stopped reading books. We gave up on the nuclear family. We skewed the meaning of words and let other people and institutions do for us what we could have done ourselves. We lost any semblance of identity other than that reliant on the hedonistic narcissistic whims of the individual. Identity politics have emerged alongside a complete loss of cultural identity - what a supreme irony! In this sense, there are obvious ways to 'make America great again'..."
“...we are living in unprecedented times of geopolitical and social uncertainties. For investors, it is really hard to quantify those risks.. In this age of monetary policy uber alles, every setback somehow gets sold as a buying opportunity. There are no long-term ramifications ascribed to anything,” So what will it take for risk appetite to shift?