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QE4 Arrives: Mystery Drone Rains Money On People In Michigan, Cash-Grabbing Frenzy Ensues

We got a glimpse of just what Yellen has in mind for the next 'monetary transmission mechanism' yesterday, when a mystery drone appeared above the Rosa Parks Circle in Grand Rapids, Michigan and literally rained down money on the people below, leading to what the Mail describes as a "cash-grabbing frenzy."



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How Clinton Foundation Donations Led To Billions In Weapons Sales To Autocratic Regimes

Another day, another Clinton Foundation related scandal. In the latest expose by International Business Times’ David Sirota, we learn about the explosion in weapons sales to certain nations during Hillary Clinton’s tenure as Secretary of State. Billions of dollars in sales went to autocratic regimes notorious for human rights abuses who donated generously to the Clinton Foundation. Should we be surprised? No. Should we be outraged and disgusted? Absolutely. Of all the Clinton scandals, the following is the most dangerous to peace on earth.



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5 Year Bond Auction With Highest Yield For 2015 Leads To Strong Demand, Jump In Direct Bidders

A day after the 2 Year auction surprised with solid demand all around, moments ago the US Treasury issued $35 billion in 5 Year paper which also came stronger than some had expected, pricing at a yield of 1.56%, 0.6 bps through the 1.566% When Issued. Like in yesterday's auction, the yield was the highest of 2015. The Bid To Cover dipped modestly, dwon from 2.56 to 2.46, and in line with the 2.47 average.



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Obama Loses Immigration Battle As States Block Executive Order

On the heels of a tough Senate fight that initially saw Democrats oppose granting fast-track authority on trade deals, President Obama was just dealt a fresh blow related to what some say is another example of Presidential overreach after the 5th U.S. Circuit Court of Appeals in New Orleans ruled that an executive order on immigration designed to prevent the deportation of undocumented immigrants will remain on hold.



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JPMorgan Warns Greece "Is Not Investable" As Germany Denies Any Deal Progress

Today's entire surge in stocks and EURUSD was predicated on nothing more than momentum ignited from rumors of a report that a deal was imminent. So now that Germany has come out and stated - unequivocally - that:

*GERMAN GOVT SURPRISED BY GREEK REPORTS OF PROGRESS: OFFICIAL

One might imagine some of the ramp would be removed.. and it is in EURUSD, but not in stocks. However, as JPMorgan warns "hope is not an investment case. The longer we go without a deal, the less likely we believe a deal becomes/the higher the chance of Grexit."



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When Stock Buybacks Go Horribly Wrong

Of the $500 million KORS spent on buybacks in the past two quarters, it already has a paper loss of $200 million. Incidentally, KORS spent about $200 million on capex for all of fiscal 2014. Which, in a nutshell, is what happens when stock buybacks go horribly wrong.



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Buy This Company Quickly For $10 Million Before It IPOs On The Shenzhen Exchange

Overnight saw yet another dip at the open that was ripped by the close in Chinese markets as Year-to-Date gains for China's Shenzhen Composite now top 105%. With IPOs rising 500% with no down days, Charles Hugh-Smith unleashes his satirical sword to 'explain' just how idiotic this situation has become, and (as we detailed here) it will get worse...



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Mary Meeker Warns "Pockets Of Over-Valuation... Growth Rates Are Slowing" In Her Latest 'State Of The Internet' Presentation

While careful to 'remain optimistic' KPCB's Mary Meeker warns that "growth rates for leaders... are slowing," and warns that global tech puiblic/private financings are now 17% above 1999 levels and "there are pockets of Internet company overvaluation but there are also pockets of undervaluation," as she unveils her latest (record-breaking) 197-page epic chartapalooza on Internet Trends...



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Peak Inequality: $500 Million Asking Price For LA Mansion

Just when you thought you had seen it all, Nile Niami pulls another mansion out of his hat.



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Need To Manipulate Markets? Just Email The Bank Of England At hammer@bankofengland.co.uk

Meet Martin "The Hammer" Mallett, chief currencies dealer at the Bank of England in 2007, and, as WSJ reports, recipient of emails that were part of an alleged campaign to rig benchmark interest rates, according to evidence presented in a London trial Wednesday. Remarkably, as we have detailed extensively, the emails were sent out with daily suggestions for where a variety of banks should set Libor. Mallett was later fired for what the central bank described as "serious misconduct," although the bank said his departure wasn’t directly related to the currencies-rigging investigation.



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S&P Ramp Stalls At 50% Retracement (For Now)

Rumored - and denied - reports of an imminent Greek deal spewed momentum into stocks but for now, the 50% retracement level of the high-to-low swing is holding the exuberant equity market back...



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FIFA "Rampant" Corruption Exposed Following DOJ Indictment, 14 Arrested In Swiss Hotel - FBI/DoJ Press Conference Live Feed

That FIFA has been a hotbed of corruption, shady backroom dealings and outright crime for years, has been known to anyone who has a passing interest in football. Which is why we were surprised to learn this morning that none other than the US Attorney General, seemingly content with all the wristslaps handed out to criminal US foreign banks (and subsequent SEC waivers) gave FIFA the red card in a charge detailing "rampant" corruption in international soccer hours after 14 officials were arrested on accusations of a 24-year scheme to enrich themselves through FIFA, whose office was searched in a series of dawn raids in Zurich.



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The Real Story Behind Deutsche Bank's Latest Book Cooking Settlement

On Tuesday, Deutsche Bank agreed to a $55 million SEC settlement tied to allegations it hid billions in losses by mismarking its crisis-era derivatives book. The bank has always contended its valuation methodologies were sound. Here is the real story...



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Shake Shak Slumps As "Chicken Spin-Off" Gains Disappear

Who could have seen that coming?



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EU Official "Denies" Report Of "Greek Deal Pending" Rumor Which Sparked Stocks, Euro Surge

UPDATE: Denial *GREEK CREDITORS NOT YET DRAFTING FINAL ACCORD, EU OFFICIAL SAYS

Another day, another rumor (not yet denied) of a report that Greece and its creditors are crafting a deal (well durr)... The result, vertical buying panic in US equities, USD dumped (on EUR strength), TSY yields spike 3bps, and Crude oil surges... what a "market"



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