Archive

July 29th, 2016

ExxonMobil Tumbles To 2-Month Lows After Earnings Miss Worst Analyst Expectation

But, but, but the dividend yield, the oil recovery? ExxonMobil is down almost 3% in the pre-market to 2-month lows as it misses earnings expectations drastically (+41c vs 64c exp.. below the lowest expectation of +55c). Production levels also missed expectations as it appears the oil glut has trickled down to motor fuels, dragging refinery margins notably lower.

Frontrunning: July 29

  • Yen, bond yields rise as Bank of Japan action underwhelms (Reuters); Bank of Japan Takes Modest Easing Action (WSJ)
  • Hong Kong shares end lower as BOJ disappointment sweeps Asia (Reuters)
  • Accepting White House nomination, Clinton offers 'clear-eyed' vision (Reuters)
  • Two Conventions, Two Distinct World Views (WSJ)
  • Democrats Emphasize American Exceptionalism at Convention (BBG)
  • Clinton’s Image Among Democrats at a Historic Low (WSJ)

IMF Studies Sovereign Debt Restructurings, Admits Its Policy Was Responsible For Greek Depression

In a paper published this month, the IMF seeks to study the relationship between GDP and sovereign debt restructuring using data from 1970-2010. Its main conclusion may be shocking: “the central finding of this paper is that sovereign debt restructurings with external private creditors can affect per capita GDP growth performance in the years after debt restructuring.“ And these are the people in charge of advising nations on managing their economy…

Exposing Hillbama's Big Lie: The Central Issue In The U.S. Presidential Campaign

Obama’s ‘mono-polar world’ is a fiction, and the sooner that he and his Big Lie can be exposed (by the Western press, to the Western publics), the safer everyone will be. Discomforts on the parts of those who have promulgated and propagandized that lie will be vastly less than the disastrous alternative, which would destroy the world for everyone.

Russia And China Will Hold Joint Naval Drills In Contested South China Sea

China and Russia will hold "routine" naval exercises in the South China Sea in September, China's Defence Ministry said on Thursday, adding that the drills were aimed at strengthening their cooperation. "This is a routine exercise between the two armed forces, aimed at strengthening the developing China-Russia strategic cooperative partnership," China's defense ministry said. It then added "The exercise is not directed against third parties", while trying to hold back laughter.

The Power Of "Nyet" - How One Word Staggered Imperial Washington

The way things are supposed to work on this planet is like this: in the United States, the power structures (public and private) decide what they want the rest of the world to do.  If cooperation is not immediately forthcoming, they apply political, financial and economic pressure. If that still doesn’t produce the intended effect, they attempt regime change through a color revolution or a military coup, or organize and finance an insurgency leading to terrorist attacks and civil war in the recalcitrant nation. If that still doesn’t work, they bomb the country back to the stone age. This is the way it worked in the 1990s and the 2000s, but as of late a new dynamic has emerged.

July 28th

Pokemon 'No': Nintendo Suffers Worst Week In 27 Years

After admitting to investors last Friday (after the close) that they won't be able to rely on Pokemon Go to bolster profits, the company came clean this week that a widely anticipated accessory for the blockbuster app will be delayed until September. The effect is simple - Nintendo shares are down 27% this week - the worst week since Aug 1989 (when the exuberance over Super Famicom died). Thanks to this double Pokemon "no," Nintendo has lost over $14 billion of market capitalization in the last week.