8.5%

Frontrunning: December 15

  • Some GOP Senators Press for Late Changes in Tax Bill (WSJ)
  • Here’s Where the GOP Tax Plan Stands Right Now (BBG)
  • Harvard Endowment Chief Pushed for Steeper Devaluation of Assets (WSJ)
  • Net neutrality repeal gives Democrats fresh way to reach millennials (Reuters)
  • With Fox Deal, Disney Adds Hulu to Its Digital Kingdom (WSJ)

Disney Agrees To Buy 21st Century Fox Assets For $52.4 Billion

After weeks of mounting speculation - and a rumored competing bids by rivals Comcast Corp. and Verizon that never materialized - Disney and 21st Century Fox announced early Thursday that the former would acquire most of the latter's entertainment assets in a deal worth $52.4 billion

Get Out Now: SocGen Predicts Market Crash, Bear Market For The S&P

With little stock upside left, with the threat of rising interest rates slamming P/E multiples, with the economy in deep in late cycle, with equities trading at record valuations, with everyone short vol and just begging for a vol short squeeze, SocGen's advice is simple: get out now.

The Cardinal Sin Of International Finance

"...the prime directive of any organism - whether it’s an amoeba or a person or a corporation or a government - is to survive... That’s why the US government protects the petrodollar so zealously. It needs the system to survive..."

Russia-Gate Spreads To Europe

Ever since the U.S. government dangled $160 million last December to combat Russian propaganda and disinformation, obscure academics and eager think tanks have been lining up for a shot at the loot in an unseemly rush to profit that is spreading the Russia-gate hysteria beyond the United States to Europe.

Venezuela Officially Declared In Default

"The Issuer’s failure to pay interest on the Notes when due on October 10, 2017 constitutes a Default under the Indenture. The Paying Agent has further notified the Trustee that the interest payment was not received by November 9, 2017. "

The Next Hurdle For Retailers: Organized Crime

Organized crime is the newest and most profound threat to the U.S. retail industry... Loss prevention professionals are scrambling to combat highly organized criminal rings operating across state lines deploying armies of 'boosters'...