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WTI Crude Plunges To $33 Handle Ahead Of Futures Expiration

Submitted by Tyler Durden on 12/21/2015 10:52 -0400

While contracts have rolled, we thought it worth noting that January WTI Crude just flushed to a $33 handle for the first time this cycle. Feb crude (the current front-month) is down almost 2% to its series lows around $35.35...

Martin Shrekli Is Fired As CEO By Company He Saved From Certan Bankruptcy One Month Earlier

Submitted by Tyler Durden on 12/21/2015 10:44 -0400

And the hits just keep on coming for "America's most hated" biotech CEO-cum-charged with fraud hedge funder, Martin Shrekli, who several days after resigning as CEO from Turing Pharma, has just been fired by his "other" recent infamous investment KaloBios, which as a reminder was trading at $1 just over a month ago when it had announced it would liquidate just before Shrekli invested several million in the insolvent biotech.

Spot The Odd One Out (Again)

Submitted by Tyler Durden on 12/21/2015 10:44 -0400

Stocks are rallying "and they should" according to CNBC's Bob Pisani... but nothing else is playing along.

Broke Puerto Rico Pays Out $120 Million In Christmas Bonuses

Submitted by Tyler Durden on 12/21/2015 10:33 -0400

Puerto Rico may be teetering on the verge of default but that doesn't mean public sector employees won't be going home with some extra cash for the holidays. Ten days before $1 billion in interest payments come due and two weeks after resorting to an absurd revenue clawback end-around to make a $354 million payment, the commonwealth just paid out $120 million in bonuses.

Just About Every Part Of The Permian Basin Is Unprofitable At $30 Per Barrel

Submitted by Tyler Durden on 12/21/2015 10:10 -0400

While many still cling to the belief that U.S. shale and tight oil plays are commercial even at current low oil prices but data on the Permian basin and Bakken plays simply does not support this hope. In fact, less than 2 percent of Permian basin tight oil wells are commercial at $30 per barrel oil prices.

Apple Cuts Latest iPhone Prices By 16% In India As AAPL Stock Re-Enters Bear Market

Submitted by Tyler Durden on 12/21/2015 09:50 -0400

Today we get another confirmation just how bad Apple end-demand has become, with news out of India that Apple has cut prices of its latest iPhone 6s and iPhone 6s Plus by up to 16% just two months after their launch in India to boost flagging sales in what is historically its most crucial quarter as demand for the flagship devices nosedived from a Diwali high.

Paul Craig Roberts Warns "Everything Is Disintegrating"

Submitted by Tyler Durden on 12/20/2015 19:05 -0400

The American people are asleep at the wheel. The blame is not totally their’s, but they do bare the brunt of the blame. The mainstream media does not report what is happening within our economy or the geopolitical arena, unless they can spew on and on about the endless rainbows, unicorns and how “America is the greatest and Putin is the devil." As Paul Craig Roberts warns, we are facing a world in change and the pace is quickening.

FIFA Slaps Sepp Blatter With Eight Year Ban In Bribery Probe

Submitted by Tyler Durden on 12/21/2015 09:17 -0400

As you may recall, it hasn’t been a good year for Sepp Blatter despite being the recipient of some helicopter money back in July. On Monday, things got immeasurably worse for the 79-year-old, whose 17 year reign at the top of FIFA was suspended in October after Swiss prosecutors opened an investigation into an illicit payment made to European soccer boss Michel Platini in 2011.

Fed's National Activity Index Plunges To 6-Month Lows As Yellen Hikes Rates

Submitted by Tyler Durden on 12/21/2015 09:37 -0400

It would appear that The Chicago Fed's own National Activity Index (CFNAI) is not part of the The Fed's "data" that it is so "dependent" on. CFNAI has been in contraction (sub-zero) for 9 of the 11 months of 2015 and today's November print, missing expectations once again, tumbled to its lowest since May. Would seem like Fed rate hike timing is questionable at best?

Spain May Need Second Election After Anti-Austerity Party Scores Big At Ballot Box

Submitted by Tyler Durden on 12/21/2015 09:01 -0400

"There no obvious solution. This is why we think that a second election around March 2016 is as likely as any of the alternatives. [In fact,] an early election in the short or medium term seems the most likely outcome."

Frontrunning: December 21

Submitted by Tyler Durden on 12/21/2015 08:51 -0400

Splintered Spanish vote points to fraught coalition talks (Reuters)
Brent Oil Falls to 11-Year Low in London as Global Glut Persists (BBG)
Oil prices hit lowest since 2004 as supply balloons (Reuters)
U.S. Probes Theranos Complaints (WSJ)
Driver plows onto Las Vegas Strip sidewalk 'like bowling ball', one dead (Reuters)
Yellen, Bull Markets and Extinction in a Seven-Year Stock Rally (BBG)

As Wall Street Vultures Circle The Next Junk Bond Fund Casualty, A Familiar Name Emerges

Submitted by Tyler Durden on 12/20/2015 23:38 -0400

And so Wall Street has set its sights on the next junk bond fund casualty, a name which is well-known to most equity market participants: none other than Waddell and Reed (WDR), the fund which rose to infamy in the aftermath of the May 2010 Flash Crash, after it was initially blamed by the SEC as the culprit behind the Dow's 1000 point crash...

Futures Jump After Friday Drubbing, Despite Brent Sliding To Fresh 11 Year Lows, Spanish Political Uncertainty

Submitted by Tyler Durden on 12/21/2015 07:55 -0400

In a weekend of very little macro newsflow facilitated by the release of the latest Star Wars sequel, the biggest political and economic event was the Spanish general election which confirmed the end of the PP-PSOE political duopoly at national level. As a result, there was some early underperformance in SPGBs and initial equity weakness across European stocks, which however was promptly offset and at last check the Stoxx 600 was up 0.4% to 363, with US equity futures up nearly 1% after Friday's oversold drubbing. In other key news, the commodity slide continues with Brent Oil dropping to a fresh 11-year low as futures fell as much as 2.2% in London after a 2.8% drop last week.

Huge Fukushima Cover-Up Exposed, Government Scientists In Meltdown

Submitted by Tyler Durden on 12/20/2015 21:05 -0400

Fukushima radiation just off the North American coast is higher now than it has ever been, and government scientists and mainstream press are scrambling to cover-up and downplay the ever-increasing deadly threat that looms for millions of Americans.

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"America's Ship Is Sinking" Former Bush Official Exposes The Unfixable Corruption Inside The Establishment

Submitted by Tyler Durden on 12/20/2015 23:30 -0400

"This ship is sinking," retired U.S. Army Colonel Lawrence Wilkerson tells Abby Martin, adding that "today the purpose of US foreign policy is to support the complex that we have created in the national security state that is fueled, funded, and powered by interminable war."

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