Israel

• Greece pleads cash running out, told to hasten reforms (Reuters)
• ECB Cash Said Likely to Fall Short of Greek Request This Week (BBG)
• Chinese Stock Buying Frenzy Sweeps Into Hong  (WSJ)
• Shell’s $70 Billion BG Deal Meets Shareholder Skepticism (BBG)
• Yemen's Houthis seize provincial capital despite Saudi-led raids (Reuters)
• Iran Nuclear Deal Gives Syria’s Bashar al-Assad Reason to Worry (WSJ)
• Slow apps, low battery life limit appeal of Apple Watch (Reuters)
• Gilead’s $1,000 Pill Is Hard for States to Swallow (WSJ)
• The Oil Industry's $26 Billion Life Raft (BBG)

The era of infrastructure investment and multilateral banks and financial institutions controlled, in large part, by Washington - often as an aggressive strategic policy tool - has come to an end. 

The only one tilting at windmills now is Washington, which is stuck between persisting on the idea that this institution is somehow lacking when it comes to Western underwriting “standards” and executing a completely humiliating mea culpa which isn’t really an option given The White House’s steadfast refusal to support the Chinese venture.

Previously, Elliott Management's Paul Singer has explained that he believes "there is one risk that stands way above the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence" - an electromagnetic pulse (EMP). Today we dig deeper into that risk... Why are we writing about EMP? Because in any analysis of societal risk, EMP stands all by itself.

There is virtually nothing in the substance of the deal for the War Party to attack. To defeat the deal, the War Party will have to defend its three-decade long campaign of exaggerations, distortions and bellicose animosity toward the Iranian state. But that is impossible because the axis-of-evil narrative was never remotely true. What the framework deal actually does, therefore, is to open the door to an eventual US withdrawal from its bloody, failed history of intervention in the middle east. So doing, it would pave the way for a drastic shrinkage of an obsolete war machine that has had no purpose since 1991 except to spill American blood and treasure in a region of the world  where it has no business meddling. No wonder the War Party is going hysterical.

• Israel, U.S. Lawmakers Press Case Against Iran Nuclear Deal  (WSJ)
• Rand Paul tries to broaden libertarian appeal (Reuters)
• Fewer Oil Trains Ply America’s Rails (WSJ)
• Chicago voters go to polls in first ever mayoral runoff (Reuters)
• FedEx to buy TNT to expand Europe deliveries (Reuters)
• Mohamed El-Erian Has Most of His Money in Cash (BBG)
• In Surprise Move, Australia Holds Rates (WSJ)
• Oil falls as Iran, China discuss more supply (Reuters)

Yesterday it was only the US that got the full benefit of the market-wide stop hunt that sent the US market soaring on its biggest opening ramp in 2015 following the worst payroll data since 2013, because Europe was closed for Easter Monday. Which means today it was Europe's turn to celebrate atrocious US data (yes, yes, snow - because somehow tremendous January and February jobs data was not impacted by snow), and in the first European trading session of the week, equities have started off on the front-foot.

Presidents, Prime Ministers, Congressmen, Generals, Spooks, Soldiers and Police ADMIT to False Flag Terror

As the world awaits the outcome of next Iran "deadline"- the June 30 conclusion of the finalization of the Iran deal - the US is already hedging its bets. According to the WSJ, the Pentagon has "upgraded and tested the largest bunker-buster bomb in the U.S. arsenal, senior U.S. officials said, readying a weapon that could destroy or disable Iran’s most heavily fortified nuclear facilities should a nuclear deal fall apart and the White House decide to take military action."

"I think Kerry will get an enormous amount of credit for pulling it off. He will be in line for a Nobel Peace Prize... He could go down in history books as being a monumentally important character, like Jimmy Carter with Camp David..."

Or "He could go down as Neville Chamberlain at Munich. Both are possible here."

It appears Beijing isn’t opposed to throwing billions behind serving as a lender of last resort and we can’t help but wonder if the new round of Petrobras financing is indicative of where China will steer initial AIIB funding — that is, into oil and into Washington's backyard.

As the death toll mounts from the various regional conflicts in the Middle East, one wonders if trading autocratic rule for some semblance of stability isn’t all that bad of a compromise. That said, US foreign policy seems to be everywhere and always inept especially as it relates to the Arab world and as CNN notes, propping up dictatorships at the expense of basic rights and freedoms sows the seeds for violent revolution.

The Scientology Documentary "Going Clear" Has Gone Viral ... Here's An Interesting, Related Story

“Everybody knows that the Americans are dropping supplies to Daesh,” said Brig. Gen. Abed al-Maliki, a senior Iraqi army commander based in the city of Samarra, about 80 miles north of Baghdad, using another term for the Islamic State. “It’s just a show,” he said, sitting in the city’s army command headquarters. “If the Americans want to finish something, they will finish it. If they wanted to liberate Iraq, they could.”