FBI Arrests Several NCAA Coaches Amid College Kickback Scandal

In a broad crackdown on college basketball corruption, U.S. prosecutors unveiled charges Tuesday against 10 coaches, managers, financial advisers and representatives of a sportswear company, accusing them of bribery, fraud and corruption in recruitment in college basketball. The defendants include coaches at top U.S. college basketball programs, one agent, one financial adviser, a former referee and an Adidas employee.

Tailing 2-Year Auction Prints At Highest Yield Since 2008

Having spooked the bond market earlier with her surprisingly hawkish remarks, and sending the 2Y surging while flattening the curve even more, moments ago the Treasury sold $26 billion in 2 Year paper at a yield of 1.462%, a notable jump from last month's 1.345%, and the highest since October 2008.

North Korea Said To Seek Help From Republicans "To Figure Out Trump"

In what may be the most bizarre development of the day, the WaPo reports that in their ongoing feud with President Trump, the North Korean government has quietly sought the help of an unlikely counterparty: Republicans.  "Their No. 1 concern is Trump. They can’t figure him out."

"Left Behind..."

"You can try and tell people that they’re doing just great, using the media you control, and it’ll work for a stretch, if only because they want to believe it, badly, but when these same people can’t even feed their children while you make such claims, you will eventually lose their attention and support. The difference between beliefs and experiences."

Uber To Cease Operations In Quebec

Just days after Uber lost its license to operate in London, the online ride-hailing service that has been at the centre of various controversies and scandals for the past year, announced it would cease operations in Quebec as of Oct. 14.

Consumer Confidence Drops As Americans Lose Faith In The Stock Market

The Conference Board's Consumer Confidence measure for September disappointex expectations with both current and future indices dropping (the former more than the latter). However, what is most concerning (for the powers-that-be), is the plunge in faith that the stock market will go higher...

Housing Horrors Continue: New Home Sales Tumble To Lowest Since 2016

Extending July's weakness (in new, existing, and pending home sales), August is off to a rough start with existing sales and now new home sales has collapsed (down 3.4% vs expectations of a 2.5% gain). July's big plunge in sales was revised slightly higher but this left August with a 560k SAAR sales rate - the weakest since Dec 2016.

The S&P Has Closed At New Record Highs 37 Times In 2017, The Most In 20 Years

In a testament to the "buy the dip" mentality, or rather only remaining investing strategy in quasi-nationalized capital markets, BofA reports that the S&P 500 has closed at a new record high 37 times so far during 2017, the most in the Q1 to Q3 period since 1997, when the S&P closed at a new record 40 times before the start of Q4.