More "unequivocally good" news. On the heels of a smaller than expected drawdown in natural gas inventories (-117 vs -135bcf), Nattie futures have tumbled to their lowest intraday level since 1999...
In recent weeks Chinese stocks remained relatively resilient, levitating quietly day after day. That all changed overnight when the Shanghai Composite plunged by 6.4% with the drop accelerating into the close. This was the biggest drop in over a month and was big enough to almost wipe out the entire 10% rebound from the January lows in one session.
"It belongs to the American people, and the American people have a right to know where trillions of... their taxpayer dollars are going."
On Tuesday, multiple media outlets jumped at the opportunity to report that China has built radar facilities at Cuarteron Reef, Beijing’s southern-most South Pacific sandcastle. But that, as it turns out, isn't the big news. Just moments ago, GOP mouthpiece Fox News said China has now deployed fighter jets to Woody Island, where imagery from ImageSat International (ISI) showed two batteries of eight surface-to-air missile launchers in place earlier this month.
Is the blockchain a breakthrough financial technology or the latest focus for Wall Street hype?
If you read much of the commentary, people blame the country's economic woes on the low oil price. But while the oil price drop may have been a proximate cause, and an aggravating factor, Venezuela's economic woes predate the current oil price drop by many years, and were going on even while the oil price was high, under President Hugo Chavez. The culprit is clear and obvious: The problem is Venezuela's authoritarian socialism.
The end result may be "peace," but of the Machiavellian sort. "Peace," Machiavelli wrote, is the set of conditions imposed by the winner on the loser of the last war. The Turks and the Russians understand him. The Americans? Perhaps not so much.
Amid plunging exports and volatile equity markets, China is rushing to reassure the world that Beijing hasn't lost control. Despite promises to curb excess capacity and efforts to convince the world that a much sharper yuan devaluation isn't in the cards, the market is rapidly losing faith. What, we wonder, happens if the engine of global growth and trade isn't able to shore up confidence?
In the spirit of the transparency - of which the Obama administration claims to be a champion - there will be no details regarding the allocation of non-military intelligence spending in the president’s final budget request to Congress... “because such disclosures could harm national security.”
Turkish President Recep Tayyip Erdogan's bullying isn’t confined to his domestic political agenda. Greek media has obtained an internal memo which suggests the Turkish strongman effectively blackmailed the EU by demanding cash payments in exchange for efforts to curb the flow of migrants into Western Europe "So how will you deal with the refugees if you don't get a deal? Kill them?"
US futures were largely unchanged overnight, with a modest bounce after the European close driven by a feeble attempt to push oil higher, faded quickly and as of this moment the E-mini was hugging the flatline ahead of today's main event - the January payrolls, expected to print at 190K and 5.0% unemployment, however the whisper number - that required to push stocks higher - is well lower, at 150K (according to DB), as only a bad (in fact very bad) jobs number today will cement the Fed's relent and assure no more rate hikes in 2016 as the market now largely expects.
Martin Shkreli Pleads The Fifth During Congressional Hearing On "Skyrocketing" Drug Prices - Live FeedSubmitted by Tyler Durden on 02/04/2016 10:42 -0400
Martin Shkreli has pleaded the Fifth amendment right against self-incrimination during the hearing.
“I honestly don’t know what happened. I know there are some precincts that have still not reported. I can only hope and expect that the count will be honest. I have no idea. Did we win the popular vote? I don’t know."
China's mid-tier banks are piling up exposure to the riskiest subset of borrowers at a time when economic fundamentals are deteriorating on a near daily basis. Meanwhile, this exposure is being carried on a line item that allows the banks to avoid provisioning for the losses that will almost certainly materialize in the not-so-distant future. At one bank, this one line item is larger than the entire Philippine banking system.