Gallup recently completed the "most robust and comprehensive study of the millennial generation" only to find them to be disengaged, aloof and completely incapable of prioritizing their own workload all while requiring constant pats on the back from management...
A large part of the reason why the UK had to be such a significant net contributor was that most EU members couldn’t scrape up their “fair share.” Who’s going to pick up the tab when that flow of revenue ends?
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.
"Regardless of their political agenda, my celebrity pals are fundamentally mistaken about our “civic duty” to vote. There is simply no such thing. Voting is a right, not a duty, and not a moral obligation. Like all rights, the right to vote comes with some responsibilities, but lets face it - the bar is not set very high... Donald and Hillary are there because we put them there... The electorate has tolerated the intolerable. We’ve treated this entire process like the final episode of ‘American Idol.’ What did we expect?”
"With macro this dominant, credit no longer seems bothered by defaults. S&P pointed out this week that YTD defaults have now equalled last year’s full-year total, and are running at their highest pace since 2009. Once upon a time, that would have been associated with spread widening. But not this year."
The only thing standing between Portugal's insanely decoupled low bond yields and the ugly fundamental reality is a BBB rating from DBRS which enables The ECB to keep buying the nation's bonds. The problem is, pressure is mounting on DBRS (the only 1 of 4 raters to maintain Portugal as investment grade) to drop the hammer... and Portuguese risk is rising.
“It’s surreal,”said Gregory Peters, senior investment officer at Prudential Fixed Income "Regarding negative yields he added that “It’s clear that central banks are dominating markets. There’s a race to the bottom. Central banks are the main drivers of this, it’s not fundamental."
Portugal’s doom loop metric has soared over the past two years. Portuguese banks have been gorging on Portuguese sovereign debt, taking it from 7 percent of total assets to 10 percent - the same level as Spain. If they continuing loading up at this pace, they will reach Italian levels by 2018.
Merkel has invited executives from some of Germany's biggest listed companies to attend a summit next month where she will urge them to hire more refugees. According to Germany's Bild, the government wants to get as many as possible refugees into the job market, which would reduce their dependence on the state. This is great news for Deutsche Bank, which now has many potential candidates for a "scapegoat" CEO as the company's woes accelerate.