Congress Demand An Explanation For Epipen Price Increases; Mylan Slides

Senator Charles Grassley, an Iowa Republican, asked Mylan to explain a steep price increase in the price of Epipens in recent years, citing complaints from constituents who say they have to pay as much as $500 for one of the pens. Fearing a repeat of last year's pharma battering, Mylan holders promptly sold the stock.

The Collapse Of American Free Press: Martin Armstrong Rages "It's Just Over"

"It is a sad day for journalism. It has never been so manipulative than it is today. This is truly the end of everything that made America the beacon of liberty for the world. It is just a hallow shell. To think that the parents of these journalists worked hard to make sure their children had a better life. They have disgraced their parents."

Bulls, Bears & The Broken Clock Syndrome

“Put simply, most apparent “opportunities” to obtain investment returns above zero in conventional assets over the coming decade are based on a misunderstanding of valuations, total returns, and historical yield relationships. At current valuations, virtually everything is priced for a decade of zero. The unwinding of these speculative extremes is likely to be chaotic, and will likely occur over a shorter horizon than investors imagine."

Jeff Gundlach Explains Why He Is Now "100% Net Short"

"I've been net short all year. The US stock market bid my macro fund and I'm doing great. I'm not having trouble at all making money on the short side. In fact, my longs are probably bringing the performance down. Because I'm net short 100%."

Japan To Double F-15 Missile Payload Ahead Of "China Confrontation" After Latest Chinese Threat

Japan’s Defense Ministry wants its 200 F-15 fighter jets to carry twice as many air-to-air missiles as they do now, in a bid to prepare for "a possible confrontation with Chinese Air Force" around disputed East China Sea islands. This follows the latest warning from China, which warned Tokyo of a harsh response if it ever crossed a "red line" in deciding to sail with US warships near disputed waters.

"This Ain't Rocket Science Folks" - Fundamentals Matter (And Will Always Matter)

We can pretend fundamentals don’t matter and sure in the day to day profit taking of Citadel and the like they really don’t matter. But, while the PhDs may talk big about this new world economy where a move to universal welfare means jobs and wages don’t matter - well that is nonsense. Jobs and wages matter and they will always matter.

"Complete Chaos" - Equity Market Schizophrenia Soars

Every dip this morning has been met with a panic bid for stocks back to unchanged with Dow futures now having swung around 500 points intraday for no gain... as VIX is monkey-hammered lower...

From Soccer Stars To Bahrain Princes: New Emails Reveal Hillary Clinton Gave Special Access To Foundation Donors

The farce continues as a detailed reckoning of Hillary Clinton's State Department emails reveals former top aide Huma Abedin provided influential Clinton Foundation donors special, expedited access to the secretary of state. In many instances, as Judicial Watch exposes, the preferential treatment provided to donors (from a British soccer player to the crown prince of Bahrain) was at the specific request of Clinton Foundation executive Douglas Band.

BofA Looks At The "What If" Scenario For Bonds: Find A Surprising Result

One of the big fears among the bond market, where most participants now openly admit there is a "bubble in credit", is that an unwind in global bond yields would lead to substantial losses.  To test this assumption, Bank of America's Ralf Preusser looks at the "what if" scenario, namely what would happen to total returns should government yields fully reverse their 30 year historical evolution. What he finds is surprising.

"Evidence Points To Another Snowden At The NSA"

"Rather than the NSA hacking tools being snatched as a result of a sophisticated cyber operation by Russia or some other nation, it seems more likely that an employee stole them. If Snowden could not have stolen the hacking tools, there are indications that after he departed in May 2013, someone else did, possibly someone assigned to the agency’s highly sensitive Tailored Access Operations."