"Traders Have Lost Confidence In Their Ability To Trade"

"Watching things trade on Friday afternoon baldly made the point that traders have lost confidence in their ability to interpret what’s plainly market-moving news. Far from hoping to be the first to trade, they need someone else to commit and help create the narrative."

Bill Gross Awarded $81 Million In PIMCO Lawsuit Settlement

Bill Gross and his former employer PIMCO announced that they have reached an amicable settlement of the breach-of-contract lawsuit filed by Mr. Gross in October 2015, under which Gross would reportedly be awarded $81 million.

Democrats Delay Gorsuch Supreme Court Panel Vote For One Week

While Democrats debate whether or not to filibuster the Neil Gorsuch nomination for Supreme Court, moments ago they delayed for one week an initial committee vote on Gorsuch. Senator Chuck Grassley, the chairman of the committee, said Democrats had requested that the committee's vote on Gorsuch be punted to next week.

TDB's picture

Robots are going to take all our jobs, and it doesn’t matter. We should actually be thrilled about the prospects of automation, because it means freeing up economic resources, including arguably the most valuable resource, time.

Trump Son-In-Law Kushner To Testify On Russia Ties

A week after giving his daughter Ivanka an office in The White House, President Trump is reportedly creating a new position for his son-in-law and senior adviser even as Jared Kushner faces a Senate panel investigation into his Russia connections.

Goldman Warns OPEC Production Cut Extension Will Backfire, Result In Lower Prices

"Oil prices above $60/bbl would prove self defeating in our view given the flattening of the oil cost curve and the unprecedented velocity of the shale supply response." A decision to extend cuts, "would only exacerbate the backwardation that we project... and created downside risk to our 2018 $58/bbl forecast."

'Soft' Data Slump Continues - Dallas Fed Misses, Tumbles Most In 14 Months

Following disappointing Manufacturing and Services PMIs last week, this week has not started well for the hope embedded in 'soft' survey data. After six straight months higher, The Dallas Fed Manufacturing Outlook slumped in March (down 7.6pts to 16.9). This is the biggest drop since Jan 2016 and was lower than all estimates.