DRC

Refugee Admissions Into U.S. Plunge 83% In First Two Months Of FY18

As monthly refugee admissions into the United States lap the last few months of Obama's administration, the stark changes enacted by the Trump White House are more apparent than ever with admissions down a staggering 83% in the first two months of fiscal 2018 (October and November) compared to the first two months of fiscal 2017.

Mapping The World's 20 Most Populous Cities By 2100

If you look at a modern map of the world’s most populous cities, you’ll notice that they are quite evenly distributed around the globe. However, in the future, things will be very different, according to projections from the Global Cities Institute. In fact, over the next 80 years or so, some cities will literally 10x or 20x in size – turning into giant megacities. The most interesting part? None of these cities will be in the Americas, Europe, China, or Australia.

Freeport McMoRan, World's Second Largest Copper Miner, Suspends Dividend

FCX announced today that its Board has suspended its annual common stock dividend of $0.20 per share. This action will provide cash savings of approximately $240 million per annum and further enhance FCX’s liquidity during this period of weak market conditions. FCX’s Board will review its financial policy on an ongoing basis and authorize cash returns to shareholders as market conditions improve.

Frontrunning: March 2

  • Hilsenrath: Fed Ushering in New Era of Uncertainty on Rates (WSJ)
  • Is Supreme Court's chief justice ready to take down ObamaCare? (The Hill)
  • Netanyahu arrives in U.S., signs of easing of tensions over Iran speech (Reuters)
  • Nemtsov Murder Fuels Suspicion, Fails to Spur Russia Selloff (BBG)
  • ECB uncomfortable with leading role in Greek funding drama (Reuters)
  • Video shows Los Angeles police shooting homeless man dead (Reuters)
  • Iraq Military Begins Campaign to Reclaim Tikrit (WSJ)
  • How Billionaires in London Use Secret Luxury Homes to Hide Assets (BBG)

Burst Chinese Housing Bubble Leads To First Annual Price Decline Since 2012; Prices Drop In Record 69 Cities

It has been over six months since the Chinese housing bubble has popped. What's worse, as overnight housing numbers out of China confirmed, the government has so far failed to contain the fallout, and according to the National Bureau of Statistics, which is anything but, after a fifth straight monthly decline, Chinese home prices have now wiped out all price gains in the past year. This was immediately spun as bullish by media outlets and sellside experts as "raising expectations the government will have to implement more economic support measures to cushion the blow." I.e., buy stocks because central banks will push risk prices artificially higher yet again. In other words, bad is still good and failure continues to be success.

Frontrunning: September 22

  • Quid pro quo Clarice: Iran seeks give and take on Islamic State militants, nuclear program (Reuters)
  • Alibaba’s Banks Said to Boost IPO Size to Record $25 Billion (BBG)
  • European Stocks Fall Amid China Concern as Tesco Slides (BBG)
  • Tesco Suspends Executives, Probes Error That Triggers New Profit Warning (WSJ)
  • Kurds say they have halted Islamic State advance on Syrian town (Reuters)
  • Because luck and managing money is genetic: Financial Elite's Offspring Start Their Own Hedge Funds (WSJ)
  • Islamic State Onslaught Spurs Mass Exodus of Syrian Kurds (BBG)
  • Rockefellers, Heirs to an Oil Fortune, Will Divest Charity From Fossil Fuels (NYT)

Frontrunning: September 19

  • Scots spurn independence in historic vote but demand new powers (Reuters)
  • Salmond’s Journey as Scotland’s Leader Ends Short of Destination (BBG)
  • European Stocks Rally to 6 1/2-Year High on Scottish Vote (BBG)
  • Jack Ma Planning Personal Roadshow With Clinton to Immelt (BBG)
  • Some consumers say Apple is losing its 'cool' factor (Reuters)
  • Gold IPhones at $3,600 as China Delay Fuels Black Market (BBG)
  • This Man's Job: Make Bill Gates Richer (WSJ)
  • Mom-and-Dad Banks Step Up Aid to First-Time Home Buyers (BBG)
  • France says it launches first air strikes in Iraq (Reuters)

Frontrunning: September 17

  • -0.07%: Germany Secures Record Low Funding Cost at Bond Auction (WSJ)
  • Pentagon Sees Possible Role for U.S. Ground Forces Against Islamic State Militants (WSJ)
  • China Joins ECB in Adding Stimulus as Fed Scales Back (BBG)
  • Stealthy or Normal? Analysts Diverge on PBOC’s Action (BBG)
  • Sony Forecasts Massive $2B Loss as Smartphones Lag (AP)
  • Islamic State campaign tests Obama's commitment to Mideast allies (Reuters)
  • Brent Crude Rebounds as Libya’s Sharara Oilfield Shut (BBG)
  • Market calm over Scottish vote at odds with disaster warnings (Reuters)