World's Airlines Crashing At Worst Rate Since 2008

With 'terrorist' incidents breaking out everywhere from San Bernardino to the south of France, it is perhaps no surprise that the world's airlines are struggling. But, as Bloomberg notes, over-capacity, rising fuel costs (so far this year), and weaker demand have hurt profits and crushed airline stocks to their worst year since 2008...

Mark Cuban Apologizes To World: "Americans Are Nothing Like Trump"

Outspoken billionaire businessman Mark Cuban apologized to the world last night for the GOP's nomination of Donald Trump for president... "Dear World. Please ignore what the loud guy in the suit is saying. Americans are nothing like him. We love our country and are proud of it," he tweeted, before going on to explain his 7(ish) point plan to ensure Hillary wins the election...

Trump Goes On War Path Against Ted Cruz: "I Don't Want His Endorsement"

Donald Trump tore into his former rival Ted Cruz on Friday morning, saying he would not accept the Texas senator’s endorsement and threatening to fund a Senate challenger against Cruz. "If he gives it, I will not accept it," Trumpsaid at a Friday morning press conference in Cleveland. "He’ll come and endorse in the next little while because he has no choice,” Trump added. “I don’t want his endorsement. Ted, stay home, relax, enjoy yourself."

"What Has Been Will Be Again" - Today's Fantasies Are Vast & Unremitting

Simple logic seems to have been suspended for the near universal disregard of the rules of common sense in the treatment of the money supply of the world.  How long can this possibly persist?  Obviously, at some point, this fantasy will be shattered. For just because central banks have continuously increased their balance sheets in recent years without igniting runaway price inflation doesn’t mean the danger isn’t there.  Remember, correlation doesn’t imply causation.  But it can imply confusion.

Crude Drops After US Oil Rig Count Jumps Most Since 2009

Having risen for 6 of the last 7 weeks, the US oil rig count extended its run with a 14 rig surge this week - the biggest absolute rise since Dec 2015. Oil rigs have now risen 55 rigs in the last 8 weeks - the biggest percentage rise since Dec 2009. WTI is tumbling to fresh 3-month lows on the news...

"The Hillary Leaks" - Wikileaks Releases 19,252 Previously Unseen DNC Emails

The state department's release of Hillary emails may be over, but that of Wikileaks is just starting. Moments ago, Julian Assange's whistleblower organization released over 19,000 emails and more than 8,000 attachments from the Democratic National Committee. This is part one of their new Hillary Leaks series, Wikileaks said in press release.

The Market's Biggest Permabull Is "Scared About The Month Of August"

JPM's former permabull, Tom Lee, needs no introduction: any time he appears on CNBC, his advice has been simple: buy it all. Which is why we were surprised to read that while Lee remains generally bullish on central planning, and its most direct manifestation, new all time highs, he writes in his latest commentary that he is "scared about the month of August."

Investors Plow Record Cash Into Emerging Markets, As Europe Suffers Record Outflows

Whether it is due to the recent speculation that Japan may usher in helicopter money, or ongoing concerns about what Brexit may do to the future of European asset returns, there has been a dramatic shift in fund allocation and as Bank of America reports, investors are rushing to vote with their wallets. They have done so in the latest week by continuing to plow money into EM stocks, allocating a record amount of cash to Emerging Markets, while yanking a similarly record amount of cash from Europe.

EURUSD Plunges To Post-Brexit Lows

Following disappoingly un-dovish commentary from Bank of England and ECB, it appears a dearth of monetary exuberance (over and above the current insanity) is prompting capital flight from Europe. EURUSD tumbled to a 1.09 handle this morning, near post-Brexit lows...

Its 2007 Deja Vu All Over Again: Goldman Is Raising $8 Billion LBO Fund

The last time Goldman raised an private-equity buyout fund was in 2007: at just over $20 billion, it was the second biggest private-equity fund ever. It also top-ticked the market. Nine years later, the WSJ reports that Goldman is finally preparing a much anticipated sequel, in the form of a corporate-buyout fund with assets between $5 and $8 billion.

Trump Accused Of "Apocalyptic" Fearmongering In Speech Promising "Security And Prosperity"

In one of the most dramatic, polarizing, (and longest ever) convention speeches, Donald Trump claimed the Republican presidential nomination with a highly charged text in which he promised to be “the voice” of disenfranchised Americans and the guardian of “law and order." And while most republicans loved it, the speech was roundly panned by democrats everywhere as ominous "doom and gloom" fearmongering, one which painted a picture of an America on the verge of an apocalyptic ending.

Verizon Set To Buy Yahoo For $5 Billion

It appears that after years of attempts to quietly, then not so quietly sell itself, the increasingly troubled former internet portal giant may have finally found the "greatest fool" thanks to Verizon. According to Bloomberg, Verizon is the lead bidder for Yahoo with a total consideration of about $5 billion, and an announcement may come in the next few days.