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• Iranians celebrate, Obama hails 'historic' nuclear framework (Reuters)
• Iran Nuclear Accord Hailed as Landmark After Marathon Talks (BBG)
• Two New York City women accused of planning 'terrorist attack' (Reuters)
• Cyprus Lifts Capital Controls Two Years After Deposits Bail-In (BBG)
• Jury Hits Chrysler With $150 Million Penalty in Boy’s Death (WSJ)
• Greece says ready to make IMF payment on April 9 (Reuters)
• Germanwings Co-Pilot Set Plane to Go Faster Before Crash (BBG)
• IBM hire advisers to deal with restless investors - sources (Reuters)

The appointment of a number of non-Ukrainians to important government posts appears to have been implemented as a move aimed at curbing corruption. This was almost certainly under “orders” of Western powers which are currently financing Ukraine’s government. The IMF wants to get its money back one day, and that won’t be possible unless some things change rather dramatically. However, we believe this also means that the Minsk agreement will not hold forever. In US neo-con circles the idea of Kiev negotiating with the rebels in the East is detested – only unconditional surrender is held to be acceptable.

In the latest "revelation" after the tragic fact, moments ago the WSJ reported that Andreas Lubitz, the Germanwings co-pilot suspected of deliberately crashing an airliner into the French Alps last week, searched the internet on ways to commit suicide and on cockpit doors’ security measures, the German prosecutor in charge of the case said Thursday.

• Samaras Says He’d Join Alliance to Keep Greece in Euro (BBG)
• Tensions with Warren camp could loom over Clinton campaign (Reuters)
• Ackman Report on Herbalife in China Figures in Probe (WSJ)
• Al Shabaab storms Kenyan university, 14 reported killed (Reuters)
• Iraq’s Four-Mile Line of Supertankers Fuels Shipping-Rates Surge (BBG)
• Menendez's fate could sharpen Republicans' edge in Senate (Reuters)
• IRS Chief Chides Ted Cruz Over 'Abolish the IRS' Mantra (BBG)
• Yemen Houthi fighters backed by tanks reach central Aden (Reuters)

• Oil holds around $55 as Iran nuclear talks drag on (Reuters)
• Bob Diamond’s African Banking Venture Runs Into Problems (WSJ)
• Iran Nuclear Talks Resume With Lavrov Saying Deal at Hand (BBG)
• Wal-Mart Ratchets Up Pressure on Suppliers to Cut Prices (WSJ)
• Renegades of Junk: The Rise and Fall of the Drexel Empire (BBG)
• Explosion at Yemen factory kills at least 25: residents, medics (Reuters)
• Macerich Rejects Simon Property’s $16.8 Billion Takeover Bid (WSJ)
• Reckoning Arrives for Cash-Strapped Oil Firms Amid Bank Squeeze (BBG)

• Iran, powers push for nuclear deal as clock ticks toward deadline (Reuters)
• How DIY Bond Traders Displaced Wall Street’s Hot Shots (BBG)
• MillerCoors Caught in a Downdraft (WSJ)
• Saudi-led strikes again hit Yemen overnight (Reuters)
• Even With Free Money, Merkel Still Reluctant to Spend (BBG)
• Britain Uses Tax Breaks to Lure Digital-Game Developers (WSJ)
• China to Insure Deposits in Move Toward Scrapping Rate Curbs (BBG)
• As China Expands Its Navy, the U.S. Grows Wary (WSJ)

In 2007 we see another dive in correlation as the last high close occurs and fades away. We are again seeing a violation of the sub-60 area.

• Setbacks and progress as Iran, six powers meet to end nuclear impasse (Reuters)
• Russia’s Foreign Minister Sergei Lavrov to Leave Iran Nuclear Talks (WSJ)
• Obama Ramps Up Lobbying on Iran as Deadline Looms (WSJ)
• Greek yields edge up as lenders scrutinise reform pledge (Reuters)
• Oil prices drop on possible Iran deal, dollar (Reuters)
• Yemen’s Houthis Battle for Aden as Saudi Strikes Hit Rebels (BBG)
• Iran nuclear deal to see $20 oil if Tehran floods crude market (Telegraph)
• China’s Zhou Says PBOC Has Room to Act on Growth Slowdown (BBG)

In recent months, Facebook has been quietly holding talks with at least half a dozen media companies about hosting their content inside Facebook rather than making users tap a link to go to an external site. Given the enormity of what Facebook is trying to achieve - and since all of the leverage seems to reside with Facebook it is likely to succeed - this single company’s ability to control access to news and what is trending and deemed important by a huge section of humanity will be extraordinary.

• ECB Tells Greek Banks Not to Boost Exposure to Athens Government’s Debt (WSJ)
• Search teams probe wreckage of jet in French Alps (Reuters)
• Flight Recorders Offer Best Hope of Explaining Jet’s Fatal Drop (BBG)
• Yemen Houthi militia sweeps toward Aden in threat to president (Reuters)
• In Nigeria, Oil Price’s Slide Deters Theft (WSJ)
• Saudi Arabia building up military near Yemen border (Reuters)
• Quant Who Shook the Financial World Tries More Humble Approach (BBG)
• Executive Pensions Are Swelling at Top Companies (WSJ)

Greek FinMin Yanis Varoufakis has an island villa he would like to rent to you...

• Germanwings Airbus crashes in France, 148 feared dead (Reuters)
• Greece promises list of reforms by Monday to unlock cash (Reuters)
• Merkel Points Tsipras Toward Deal With Greece’s Creditors (BBG)
• Banks Shift Bond Portfolios -Move to ‘held to maturity’ category aims to guard against rising rates, shield capital  (WSJ)
• Beijing to Shut All Major Coal Power Plants to Cut Pollution (BBG)
• As Silence Falls on Chicago Trading Pits, a Working-Class Portal Also Closes (NYT)
• Oil below $56 as Saudi output near record, China activity slows (Reuters)

Spending cuts for oil-directed drilling have dominated first quarter 2015 energy news but rig counts for shale gas drilling are too high. Investors should pay attention to this growing problem. Bank of America fears sub-$2 gas prices now that winter heating worries are over. Low natural gas prices affect the economics for gas-rich oil production in the Eagle Ford Shale and Permian basin plays as well as for the shale gas plays. Meanwhile, an orgy of over-production is taking place in the Marcellus Shale... Investors should carefully examine why shale gas players have not reduced rig counts more. Continued drilling in the Marcellus will crush natural gas prices further.

The $665 Million Evolution in a Space Nobody Respected a Year Ago - Already Outpacing the Internet Circa 1994