Robbery In Progress At Chase Branch On 6th Avenue In Downtown Manhattan

It was 11 months ago when brazen thieves penetrated deep within the "safe" confines of Manhattan, and tried to rob a Chase Manhattan branch on 72nd and Columbus in the Upper West Side. It was unclear if the robbers were successful then, or if the bank even had any cash. Moments ago, another bunch of just as brazen robbers has attempted to rob another Chase branch, this time on 6th Avenue and 18th street. According to the NY Scanner, the NYPD just called in a Level 1 mobilization to 611 6th Avenue, where thieves have struck yet again.

Presidents Obama & Hollande Explain How They Will 'Contain' ISIS Again - Live Feed

With 11 days passed since the horrific actions in Paris, French President Francois Hollande arrived at the White House to discuss the conflict with President Barack Obama, likely asking for greater cooperation (with Russia - who Hollande will meet Thursday) in the battle against ISIS. Obama and Hollande made no statements as they began their meeting in the Oval Office but we can only imagine Turkey’s downing of a Russian fighter jet over its border with Syria produced fresh complications for the international campaign against Islamic State.

Russia Declares Warplane Downing A "Hostile Act" But Will It Cut Turkish Gas Supplies?

Some have suggested Vladmir Putin's first retaliation for the Turkish shooting down of a Russian fighter jet would be to cut off gas supplies (which represent 57% of Turkey's supply). With Russia Defense Minister stating that the "downing of the Russian warplane is a 'hostile act'," adding that the defense ministry is "devising a set of measures to respond to the incident," it seems taking the 'nuclear option' of cutting off 20% of Erdogan's entire energy supply would be a strong first non-lethal non-World-War-3-starting step.

It Wasn't Us - Pentagon Shrugs At "Exaggerating, Sloppy, Uncaring" Russian Jet Shootdown

The Pentagon's army colonel Steve Warren has made it clear how Washington feels about the unraveling situation in Syria. In not so many words, Warren explained 'not our problem', pointing out the Russian jet shootdown is "a Russia-Turkey issue," and that US was not ionvolved. He then quickly moved on to the propaganda section of the briefing, explaining how "sloppy, uncaring" Russia was "exaggerating" its achievements in Syria.

Richmond Fed Shows 3rd Monthly Decline As Wages Crash Most In 4 Years

A collapse in new orders and the order backlog combined with a plunge in wages, average workweek, and number of employees has left the Richmond Fed contracting for the 3rd month in a row. The last three times this happened, The US was either in recession or The Fed unleashed QE3.

From Hope To Nope - Consumer Confidence Crashes To 14-Month Lows

Just three months ago Consumer Confidence was peaking at 8 year highs and everything was awesome. Now, with the biggest miss since March 2009, Consumer Confidence crashed to 90.4 from 99.1. This is the lowest since Septmeber 2014 as the "decline was mainly due to a less favorable view of the job market." Almost every cohort - across age, income, race saw a collapse in confidence though we note low income and under-35s saw the biggest declines as Income Growth expectations plunge to the lowest in 14 months.

"We Are Gone... Now!" - Dennis Gartman Stopped Out As Oil Surges

On Friday Nov. 20th we sold a half unit each of nearby January WTI trading at or near to $41.85 and nearby Brent trading at or very near to $44.23, giving us an average of $43.04. Our stated risk, was 2% on the position, so the stops were set at $42.10 and $45.11 respectively, and we used our “hour or so” methodology; that is, we’d want to see crude trade through those levels “for an hour or so” before activating the stops in question. Those stops have been activated. The Saudis caught us off. We are gone… now!

High-Frequency Traders Face Crackdown As CFTC Proposes Tougher Regulations - Live Feed

CFTC meets this morning to propose a registration standard applying to as many as 100 firms that have changed markets by trading their own money using complex algorithms and advanced technology. As Bloomberg notes, this proposal follows more than 5 yrs of debate about market disruptions, such as the May 2010 flash crash. Crucially, as is well known now, high-speed, automated trading in recent years has surged to account for almost three-quarters of certain derivatives markets which means any regulatory crackdowns will no doubt have impacts on markets; as former CFTC chief Chilton noted “Clearly some of the rules are antiquated.”

Case-Shiller Home Prices Rise At Fastest Pace In 6 Months (Despite NAR Reporting Falling Prices)

After 3 straight months of home price declines, August and now September have seen the usual seasonal pattern unfolding as Case-Shiller reports 0.61% rise in September (double the +0.3% expectations). Of course this runs in the face of NAR's 4 month decline in median home prices, but who's quibbling. Notably, 2015 is playing out almost exactly the same as 2014... winter is coming.

Q3 GDP Revised Higher As Inventories Surge Again, Personal Consumption Disappoints

A month ago the US economy was said to have grown only 1.5%, driven by a long-overdue and perhaps welcome correction to inventories. Moments ago we got the first revision to the Q3 GDP, which as consensus expected rose from 1.5% to 2.1%, however for all the wrong reasons because while personal consumption actually decline from a 3.2% increase, and a 2.19% contribution to the GDP bottom line, it is now said to have grown only 3.0%, adding 2.05% to the final GDP print.

Frontrunning: November 24

  • Turkey downs Russian warplane near Syria border, Moscow denies airspace violation (Reuters)
  • Investors seek safety in bonds, yen after Turkey downs Russian jet (Reuters)
  • Donald Trump Is Not Backing Down (BBG)
  • Uber's Exposure May Grow as U.S. Drivers Seek 57.5 Cents a Mile (BBG)
  • U.S. issues global travel alert as manhunt continues for Paris attackers (Reuters)
  • Stung by Oil, Distressed-Debt Traders See Worst Losses Since '08 (BBG)

Putin To Make Statement Over Downed Warplane: Live Webcast

Everyone has been waiting to hear the official Russian response to the Turkish downing of a Russian warplane next the the Syria border. So here it is, straight form the horse's mouth: Vladimir Putin who is now speaking with the King of Jordan, is expected to make a statement over the downed plane.