Here Is The Reason For The Sudden Buying Spree

Deja vu all over again. Just as we saw after yesterday's "glitch" in POMO unleashed a huge short-squeeze buying rampage, so today's "technical issue"-delayed 7Y Auction has sparked panic-buying in stocks...

Halliburton Cuts 5,000 Jobs, 8% Of Workforce

It turns out oilfield services isn't a good place to be during epic crude downturns. Halliburton - which cut thousands upon thousands of jobs in 2015 - is back it, announcing an additional 5,000 layoffs on Thursdsay. The cuts amount to 8% of the company's remaining workforce.

Where Negative Interest Rates Will Lead Us

The real pity is that the busts and crackups could all have been avoided if central bankers recognized that falling prices eventually create the conditions for a normal economic revival. Deflation is not a death spiral as the Keynesians believe. Nevertheless, expect more central banks to follow the early leaders — Switzerland, Sweden, Denmark, and even the European Central Bank itself — into negative interest rate territory. The crying shame is that it will not work and will cause great harm to hundreds of millions of people.

First POMO, Now This: 7-Year Treasury Auction Rescheduled Due To A "Technical Issue"

"The close of the auction has been rescheduled due to a technical issue. The settlement date and all other aspects of the auction remain unchanged from the original announcement. Competitive and noncompetitive  bids that have been submitted will still stand, but bidders may review and update bids until the auction closes."

45% Of Americans Pay No Federal Income Tax

When 40% of the working age population doesn’t work and another 10% only hold part-time jobs, it is likely not a total shocker that they aren’t paying any Federal Income taxes.

Why Noam Chomsky Is Not Too Excited About Trump's Rise In The Polls

Adolf Hitler rose to power during a period of similar social tumult as that which has currently garnered Donald Trump such fervent support, according to Noam Chomsky, who cautions that the current social atmosphere that led to Donald Trump’s rise may actually be worse than the build-up to fascism in the early twentieth century.

Business Is "Worst Since The 80s Recession" - Kansas City Fed Survey Crashes To 7-Year Lows

The Kansas City Fed Composite Index has not been positive for 13 months and February's below expectations print of -12 is the worst since April 2009. Both MoM and YoY, every single component of the KC Fed survey is down, and down hard with employment-related indicators collapsing. As one respondent exclaimed, “Business is off at levels not seen since the recession of the early 1980's.”

Is A Stronger Euro And A Stronger Yen In Play?

While we still think its early to call the end of the dollar bull market that has been in place since July 2011, it's apparent that the world is currently not in as broad of a dollar bull market as we were in last year.

NatGas Tumbles To 16-Year Lows

More "unequivocally good" news. On the heels of a smaller than expected drawdown in natural gas inventories (-117 vs -135bcf), Nattie futures have tumbled to their lowest intraday level since 1999...

U.S. Unable To Halt ISIS March Towards Libyan Oil

The Islamic State (ISIS) is taking on recruits faster than anyone can keep up with, and it’s heading towards Libya’s oil crescent, eyeing billions of barrels that a country at war with itself cannot protect - even with U.S. air strikes.