Did Obama Bomb Doctors Without Borders for Opposing TPP?

If circumstances of any incident appear not to add up, it’s pertinent to thoroughly examine the current narrative for signs the State is attempting to mold public opinion — because it is there you will find the truth that you’re not being told. In the case of MSF, a massive treaty cum trade deal involving U.S. interests in another part of the world from the tragedy in Kunduz can offer, perhaps, insight which might otherwise seem unrelated. As it turns out, MSF have been particularly vocal critics of the impending Trans-Pacific Partnership — and their criticism hasn’t gone unnoticed.

Someone Is Lying: Consumer Confidence Is Somehow Both "Highest" And "Lowest" For The Year

According to what is arguably the most respected polling organization in the US, consumer confidence has crashed to the lowest level in a year. On the other hand, according to a tax-exempt research organization, consumer confidence is not only the highest it has been in 2015, but it practically the highest since 2007.Someone is lying, we leave it up to readers to decide who.

Solid 3 Year Auction Prices At Lowest Yield Since April

The recent scare that investors may be slowly (or not so slowly) waning in the primary market for US Treasurys is rapidly becoming a distant memory, and after yesterday's 3 Month bills pricing at 0.000% for the first time ever, today's strong 3 Year auction should end any debate, if only for the time being, about interest in US paper.

How Revisionism Saves Bernanke

Most Americans can see the spoiling incongruity of his grandeur. He claims, somehow, to defend monetary policy as it supposedly removes and prevents all the really bad downside at the same time the world is still rebuilding from the last one while seriously contemplating the next one. As 2008 proved, timing was never his strong point; as his oped proves, duplicity is.

One Trader Says Central Banks Need To Just Shut Up

"Central bank credibility is priceless and they desperately need to reclaim the intellectual high ground. The continuous public back-and-forth through speeches and attempts at expectation management just aren’t working."

Momo Massacre: Biotechs Are Crashing, Turn Red For 2015

It was just a matter of time before the market realized that the happy days for biotechs are now over. Sure enough, a quick glance at the Nasdaq Biotech Index reveals that after a modest drop yesterday when mostly Valeant was punished, the weakness today is widespread and is hitting the entire biotech sector which moments ago was down a whopping 6.4%, and just over 3,000, the biotech sector is once again not only red for the year, but danger of taking out the 2015 lows hit in the last days of September.

Oil Spikes To Highest In Over A Month, As Syria Proxy War Jitters Escalate

According to several trading desks, the pre-war jitters in (and above) Syria are finally catching up to some, and there has been a distinct geopolitical-risk oil bid in the past two hours, on concerns the proxy war involving the US, Russia and, increasingly, Saudi Arabia and Iran, will finally spill over leading to forced supply cuts by middle-east nations, and a sharp, if transitory, spike in crude oil prices,

One True Measure Of Stagnation: Not In The Labor Force

Heroic efforts are being made to cloak the stagnation of the U.S. economy. One of these is to shift the unemployed work force from the negative-sounding jobless category to the benign-sounding Not in the Labor Force (NILF) category. But re-labeling stagnation does not magically transform a stagnant economy. To get a sense of long-term stagnation, let's look at the data going back 38 years, to 1977.

Q3 GDP To Slide After 16% Surge In August Trade Deficit; Imports Jump As Exports Drop

As was previewed last week in the advance release of international trade data which showed a big drop in the US deficit, moments ago the BEA confirms as much, when it reported that in August the US trade deficit blew out from $41.8 billion to a whopping $48.3 billion, an increase of 15.6%, as a result of a $3.7 billion drop in exports, offset by a $2.8 billion increase in imports. The August deficit, driven in major part by the surge in the US deficit with China which shot out to a whopping $32.9 billion, was the worst monthly print since March, and the second worst trade data read going back to early 2012.

Five Of The Past Six Times Corporate Margins Have Plunged This Much, Ended In A Recession

Overnight Barclays looked at the link between the current state of corporate profits, plunging by 60bps, and the broader economic cycle. It used data set stretching to the last seven business cycles, dating back to 1973, and found that on 5 out of 6 occasions, such a drop in margins resulted in a recession. In Barclays' own words: "the results are not encouraging for the economy or the market."

World's Largest Sovereign Wealth Fund Is Forced To Begin Liquidating Assets

While Reverse QE, or QT, or whatever one wants to call it has become traditionally associated with Emerging Markets and petroleum exporters, nobody had linked it with one of the most advanced Developed Markets in the world which also happens to be an oil exporter, the market with the largest sovereign wealth fun in the world: Norway. That is about to change because as Bloomberg report, "the future may already be here", a future in which Norway's gargantuan $830 billion sovereign wealth fund, the product of two decades of capital accumulation courtesy of Norway's vast petroleum reserves and oil trade, is forced to begin liquidating its vast assets.

Frontrunning: October 6

  • Asian shares rise on fading Fed rate views (Reuters)
  • U.S. Equity Futures Fall, Risking S&P 500 Rally as Copper Slides (BBG)
  • More biotech pain, this time from the WSJ: For Prescription Drug Makers, Price Increases Drive Revenue (WSJ)
  • VW Will Delay or Cancel Non-Essential Investments Due to Scandal (BBG)
  • Russia Rejects No-Fly Zone Over Syria as Clerics Urge Reprisals (BBG)
  • Historic Pacific trade deal faces skeptics in U.S. Congress (Reuters)
  • German Factory Orders Unexpectedly Fall Amid Economic Risks (BBG)