Countrywide

Frontrunning: November 22

  • Record highs for Wall Street quartet send other stocks higher (Reuters)
  • Oil prices rise to highest this month on hopes of OPEC deal (Reuters)
  • OPEC Likely to Reach Output Consensus, Delegate Says (WSJ)
  • Trump’s Targets in First 100 Days: Trade, Regulation, Corruption (BBG)
  • Trump Poised to Push Nafta Changes, Pressure Mexico on Trade (WSJ)

India Uses Helicopters, Air Force Planes To Deliver Freshly Printed Cash

The Indian government is resorting to increasingly more novel solutions to restock outlets with new, "clean" cash. As the Times of India reports, authorities have cut down the transportation time of cash from printing to the main distribution centers from 21 days to six and by using all modes of transport, including helicopters and Indian Air Force planes, to move the cash quickly.

Frontrunning: August 22

  • Oil falls as China fuel exports jump, U.S. rigs rise (Reuters)
  • Fischer Signals 2016 Rate Hike With Economy Nearing Fed Goals (BBG)
  • Show of European unity: Merkel, Hollande, Renzi meet to discuss gameplan (Reuters)
  • Rainy Rio wraps up challenging Games on upbeat tropical note (Reuters)
  • Japan's Abe Plays Super Mario in Rio to Promote 2020 Tokyo Games (BBG)
  • Donald Trump the Mortgage Broker Was in Trouble From Moment One (BBG)

US Futures Fall, European Stocks Rise As Stronger Dollar Sends Oil Lower

European stocks rose and US S&P futures fell after the dollar strengthened following the latest hawkish comments from Fed vice-chair Stanley Fischer signalled that a 2016 rate hike is still being considered and again boosted speculation that US rates will rise this year. The rising dollar pressured commodities and notably oil, which dropped 2% breaking a 7 days stretch of increases; emerging markets retreated. 

How The East Coast Is Getting Rid Of Its Gasoline Glut

With the East Coast at gasoline stroage capacity, and quietly transporting unwante excess gasoline to other parts of the country, it is no longer accepting inbound cargoes.  The products tanker Torm Gyda will be open for charter Aug. 21 at El Palito, Venezuela, after discharging a cargo that was diverted from N.Y. Harbor.

Meanwhile, In The Philippines...

The killing of over 400 drug dealers in he Philippine government's "war on narco-politics" has reportedly led to an additional 500,000 turning themselves in... “I’ll really have you killed… My order is shoot to kill you. I don’t care about human rights, you better believe me.” Those are the words of recently elected Philippine President Rodrigo Duterte, adding during a televised national address "my mouth has no due process."

Italy Races To Arrange €5 Billion Bailout For Monte Paschi Before Friday's Stress Test

Italy is scrambling to secure a privately-backed bailout of Monte dei Paschi di Siena, the most exposed of the country’s troubled lenders, including a plan to raise €5bn of fresh capital so as to avert nationalisation, the FT reports. The bank needs to obtain some €5 bilion in capital ahead of Friday's stress test, or else a dire "contagion" scenario could unfold that could impair not only all Italian banks, but promptly spread first to France and then to Germany...

Cleveland Cop Responds To Baton Rouge Shooting: "Obama Has Blood On His Hands"

"It's absolutely insane that we have a president of the United States and a governor of Minnesota making the statements they made less than one day after the police-involved shootings," said an emotional Cleveland Detective Steve Loomis. "How the hell did we ever become the bad guys in this country? I cannot imagine how we got here. It's the irresponsible reporting of the media. And the irresponsible statements of people that are credible like the president of the United States."

Here We Go Again - Stockman Warns Of August 2007 Redux

Nearly everywhere on the planet the giant financial bubbles created by the central banks during the last two decades are fracturing. The latest examples are the crashing bank stocks in Italy and elsewhere in Europe and the sudden trading suspensions by four UK commercial property funds. If this is beginning to sound like August 2007 that’s because it is. And the denials from the casino operators are coming in just as thick and fast.

Too Orange To Jail? US Government Drops Suit Against Countrywide's Mozilo

U.S. prosecutors have abandoned their case against Angelo Mozilo, the over-tanned character at the center of the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring a civil suit against him. As Bloomberg resports, The Justice Department has decided not to sue Mozilo, according to people familiar with the matter, ending a decade-long hunt for someone, anyone to jail over what happened.