Greece Sells €3 Billion In Bonds In 2x Oversubscribed Offering

Greece has once again returned to the bond market, if far less triumphantly, by selling another €3 billion in 5 year paper which however was "only" 2x oversubscribed, with indications from Bloomberg that there was only €6.5 billion in demand for the "high yielding" paper. And speaking of yield, it came in lower than 3 years ago, pricing at 4.625% with a coupon of 4.375%.

US Navy Patrol Ship Fires Warning Shots At Iranian Vessel

One day after a US spy plane had to take "evasive action" after a Chinese fighter jet showed off its Top Gun skills and appeared 90 meters in front of the interloper, a US Navy ship fired warning shots toward an Iranian vessel near the northern Arabian Gulf on Tuesday after the vessel came within 150 yards.

Conference Board Consumer Confidence Soars To 2nd Highest Since 2000

Second only to March's highs, The Conference Board's Consumer Confidence printed at its highest level since the year 2000 (ironic given where Nasdaq is trading). Despite a tumble in 'hard' data, and a plunge in Bloomberg's economic expectations, it appears record high stocks are working to pump Americans up.

Daily Trading Volume In Bitcoin Surpasses GLD

Daily trading volumes for bitcoin were $400mn in 2012 and have now moved up to about $2bn a day at present which means that - at current BTC prices - the total ADV of BTC traded is higher than that of GLD.

Former CIA Director Calls For A Coup If Trump Fires Mueller

"I think it's the obligation of some executive branch officials to refuse to carry out some of these orders that again are inconsistent with what this country is all about.... If Mueller is fired, I hope our elected reps will stand up and say enough is enough."

Earnings Bonanza Sparks Dow Buying Panic As VIX Nears 8 Handle

Thanks to 'beats' by MCD, CAT, and UTX, The Dow is soaring in the pre-market - up over 110 points, back near record highs. Despite GOOGL hovering near post-earnings lows (-2.8%), Nasdaq Futs are levitating along with S&P Futs as VIX is clubbed like a baby seal to 9.12...

Frontrunning: July 25

  • Dollar slumps to 13-month lows before Fed; euro up (Reuters)
  • Overwhelming approval likely for Russia bill (Reuters)
  • Trump to study tougher Russia sanctions bill: White House (Reuters)
  • Unrest bubbles among Trump's key foreign policy aides (Reuters)
  • Abe Overtaken by Rival as Top Choice for Japan Premier in Poll (BBG)

S&P Futures Bounce As VIX Hammered, Europe "Euphoric"

After sliding to 3 month lows on "car cartel" concerns yesterday, European stocks have rebounded after three days of declines, while oil extended gains after Saudi export cuts, with Brent rising above $49 and WTI just shy of $47. Asian stocks fell while S&P futures rose 0.2% to 2,473, helped by a tumbling VIX which was hammered early by 3% in early Tuesday trading, down to 9.17.

Michael Kors Buys Jimmy Choo For $1.2 Billion

Michael Kors announced it has agreed to acquire iconic shoemaker Jimmy Choo for £896 million ($1.17 billion), as the US company seeks to offset slower growth in its core handbag business. As part of the recommended all cash acquisition the entire issued and to be issued ordinary share capital of Jimmy Choo will be acquired by JAG Acquisitions (Michael Kors Bidco), a wholly-owned subsidiary of Michael Kors.

Can Britain Afford To Be A Hard Power?

"Britain can have a significant role to play within the soft power sphere. But as a hard power - taking part in massive American led military interventions whether it be in Iraq, Afghanistan, Libya - allowing an incompetent and poorly governed Ministry of Defense to continually waste so much taxpayers money as if they had a guaranteed government/taxpayer 'Magic Money Tree' must be brought to an end."