ECB Warns Of "Excessive Exuberance" In House Prices; Sees Financial Instability Due To Higher Yields

In an unexpected two-part warning from the ECB, the European Central Bank warned of “excessive exuberance” in some European housing markets, driven by offshore buyers, that could spread to other areas in a “ripple effect.” Separately, the ECB also said "debt-sustainability concerns" have risen in the past six months amid a potential increase in yields and political uncertainty in some countries.

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Yuan Tumbles As Moody's Downgrades China To A1, Warns On Worsening Debt Outlook

Offshore Yuan tumbled as Moody's cut China's credit rating to A1 from Aa3, saying that the outlook for the country’s financial strength will worsen, with debt rising and economic growth slowing. This leaves the world's hoped-for reflation engine rated below Estonia, Qatar, and South Korea and on par with Slovakia and Japan.

Fidelity Is Mining Bitcoin, CEO Abigail Johnson Admits

In what bitcoin geeks undoubtedly interpreted as a sign of bitcoin’s renewed relevance now that its price is at all-time highs, Fidelity CEO Abigail Johnson told CoinDesk’s Consensus conference that her company is now in the business of mining bitcoin.

The Republic Has Fallen: The Deep State's Plot To Take Over America Has Succeeded

The coup d’etat has been successful. The Deep State - a.k.a. the police state, a.k.a. the military industrial complex - has taken over. The American system of representative government has been overthrown by a profit-driven, militaristic corporate state bent on total control and global domination through the imposition of martial law here at home and by fomenting wars abroad.

Did Trump's Islam Speech In Saudi Arabia Pave The Way For America's Next Big War

Selling a war with Iran to the American public may be difficult considering the Islamic nation twice elected a reformist who is open to making diplomatic deals with the United States. However, selling a war that will take place inside Syria is somewhat less problematic, even if that war is against the Syrian government, as the American public is easily manipulated by Assad’s alleged war crimes. As Iran is Syria’s closest ally, it will be easily drawn into a confrontation.

Why China's Strategic Petroleum Reserve Is All That Matters For OPEC

Forgot Thursday's OPEC meeting: its outcome, fully priced in by the market, has no impact on the price of oil. What does is China, and specifically whether the sudden, recent slowdown in accumulation for its strategic petroleum reserve, means that some 1.2 million in Chinese oil imports are about to flood the market...

US Journalism's New "Golden Age"?

The mainstream U.S. media is congratulating itself on its courageous defiance of President Trump and its hard-hitting condemnations of Russia, but the press seems to have forgotten that its proper role within the U.S. democratic structure is not to slant stories one way or another but to provide objective information for the American people.

If You Care About Privacy, You Should Change Your Twitter Settings Right Now

The new policy, which goes into effect on June 18, includes changes to data collection, data sharing, and digital advertising. The policy is being run on an ‘opt-out’ basis, meaning that if users do not actively change their settings, these policies will automatically be applied to their accounts.

A Bearish Positive Carry Trade?

The Eurostoxx outperformance of the past month has garnered a lot of attention, but there is another similar trade many investors are missing. Not only that, but it has a positive carry, something that is sorely lacking in this day and age of NIRP.

Outrage Ensues As Rambling Maxine Waters Has Her Mic Cut By Democratic Party

African American Caucus leaders are outraged today and wondering whether racism played a role in the attempted silencing of Maxine Waters as he microphone was cut at speech before the California Democratic Party African American Caucus.  But, after a series of seemingly nonsensical interviews over the past several months, like the time she blasted Putin for "continuing to advance into Korea", most people are wondering why anyone still cares what Maxine Waters has to say in the first place?