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Oil Fireworks Unsettle Global Markets Ahead Of Payrolls Report

With all eyes on crude, following last night's mini flash crash which sent WTI lower by 3% from just above $45 to under $43 in under 10 minutes, equity markets, generally quiet overnight, have taken on a secondary importance ahead of today's key risk event, the April payrolls report. In global equities, Asian and European stocks are lower, while S&P futures are little changed.

Home Capital Uses Up $1 Billion "Lifeline", Seeks Additional Funding

Home Capital Group is "actively seeking expanded sources of funding" as it has drawn half of its C$2b rescue loan. “This is a fluid situation, and we are optimistic our challenges are temporary,” said Pino Decina, executive vice president of residential mortgage lending.

The Least Explicable Bubble Of All

Of all the mini-bubbles now inflating out there, maybe the least explicable is the race among emerging market companies to borrow dollars. This has gotten them – and their governments — in huge trouble so many times in the past that you’d think dollar debt would be kind of a hot stove thing for Brazilians and Mexicans.

S&P Futures Jump Ahead Of GOP Healthcare Vote, Ignore China Commodity Crash

S&P futures rose on hopes a successful Republican healthcare vote on Thursday will unlock the Trump fiscal agenda, while European shares jumped to a 20 month high on signs Macron is poised to win Sunday's French election coupled with reassuring corporate results, including strong earnings from HSBC, even as Chinese and Australian stocks fell as commodities, and iron ore futures particularly, tumbled.

The Last Time This Happened, The Market Crashed

A few days ago Charles Schwab, the investment brokerage firm, announced that the number of new brokerage accounts soared 44% during the first quarter of 2017. More specifically, Schwab stated that individual investors are opening up stock trading accounts at the fastest pace the company has seen in 17 years. Anyone remember what happened 17 years ago?

European, US Stocks In Eerie Calm As French Vote Looms

Global markets were oddly calm on Friday, the last day of trading before the first round of France's closely fought presidential election, with European stocks posting modest declines ahead of Sunday's main event, Asian shares rising, and set for first weekly gain in the past month, while U.S. futures were unchanged.

Why Bonds Aren't Overvalued

Will the “bond bull” market eventually come to an end?  Yes, eventually. However, the catalysts needed to create the type of economic growth required to drive interest rates substantially higher, as we saw prior to 1980, are simply not available today. This will likely be the case for many years to come as the Fed, and the administration, come to the inevitable conclusion that we are now caught in a “liquidity trap” along with the bulk of developed countries.

Europe And S&P Futures Higher, Dollar Drops As OPEC Talks Oil Up

European stocks rose amid earnings beats, offsetting weakness in the energy sector and easing investor concerns ahead of the weekend’s French election. Asian shares and U.S. futures also rise. The dollar weakens against the euro and most crosses, while crude oil rebounds following renewed OPEC chatter of a production cut, this time with Saudi Arabia seemingly onboard.

Subprime Pet Rental Company Files For Bankruptcy

Less than two months after Wags made waves around Wall Street with a viral Bloomberg story about the first "subprime" pet rental company, the predatory lender which charged as much as a 70% APR has filed for bankruptcy.