KIM

Vancouver Finally Cracks Down On Chinese Home Buyers With 15% Real Estate Tax

The British Columbia government finally took our advice to stem hot money inflows into real estate by announcing a 15% transfer tax on foreign nationals who buy real estate in Metro Vancouver.  Finance Minister Mike de Jong unveiled the tax, which will take effect on August 2nd, after recent housing data revealed that foreign nationals spent more than $1 billion on British Columbia property between June 10 and July 14, or a mere $28.6mm per day.

Arrested HSBC FX Trader Had Been Cleared In Bank's Own Internal Probe

One day after news hit that a prominent HSBC FX trader was arrested, we find that the bank conducted its own investigation three years ago into a $3.5bn currency trade that US prosecutors now believe was criminally fraudulent and found nothing wrong with the transaction. The HSBC review was led by an external lawyer and found no breach of its code of conduct.

Pakistan's 'Kim Kardashian' Killed By Brother In Islamic "Honor Killing"

In Islamic countries, women are second class citizens if not much worse. If women step out of line, they are targeted, or killed. In Pakistan there are 1,000 “honor” killings every year. On July 15, top media star Qandeel Baloch was strangled by her own brother because of images Baloch posted on Facebook.

North Korea Threatens To Retaliate "Physically" If US Deploys THAAD On Peninsula

North Korea vowed to "take a physical counter-action to thoroughly control THAAD, aggression of the U.S. towards world domination, from the moment its location and place have been confirmed in South Korea... the closer they will come into the firing range of the KPA and the more miserable end the U.S. will meet without even a moment to make a shrill cry..."

Frontrunning: July 8

  • Snipers kill five Dallas police; Obama calls it 'despicable' attack (Reuters)
  • Global stocks regain ground, Treasury near record low as U.S. jobs data looms (Reuters)
  • House Republicans Push for New Hillary Clinton Investigation (WSJ)
  • Obama urges NATO to stand firm against Russia despite Brexit (Reuters)
  • Kremlin says NATO talk of Russian threat absurd, short-sighted (Reuters)

US Futures Rebound After Volatile Session, All Eyes On June Payrolls

In a session where bleary-eyed traders followed the all-night tragic developments out of Dallas and initially sold off risk assets, it is good to see that some normalcy prevailed with the traditional post Europe-open futures ramp, which was further assisted by the successful resolution of the Dallas standoff, which has pushed futures modestly higher ahead of today's main event for markets, the June payrolls report due in under two hours.

This Is All That Was Left Of The Crashed Self-Driving Tesla

A photo of the Tesla Model S involved in the fatal crash on May 7, 2016 shows with the top third of the car sheared off by the impact of the collision of the Tesla with a tractor-trailer truck on nearby highway and coming to rest in the yard of Robert and Chrissy VanKavelaar.

Celebrating This Land Of Absurdity

As far as we can tell, U.S. Treasury investors suffer the same cognitive dissonance that the broad U.S. populace takes with them to the shore each July 4th as they celebrate Independence. They believe they live in the greatest country ever conceived. They believe they experience more freedom, opportunity, and prosperity than their cohorts in other nations. They believe their system of government provides for their representation. Yet at the same time they sense that something’s off.

Driver Of Self-Driving Tesla Was Watching Harry Potter At Moment Of Death

Frank Baressi, 62, the driver of the truck and owner of Okemah Express LLC, said the Tesla driver was "playing Harry Potter on the TV screen" at the time of the crash and driving so quickly that "he went so fast through my trailer I didn't see him." "It was still playing when he died and snapped a telephone pole a quarter mile down the road," Baressi told The Associated Press in an interview from his home in Palm Harbor, Florida. He acknowledged he couldn't see the movie, only heard it.

Kim Kardashian Disappointed After Senate Votes Down Four Gun-Control Proposals In One Day

In the wake of the Orlando shootings, there has been a renewed push by lawmakers to show their constituents that they are actually working on strengthening gun control measures - now if only anyone could agree on anything. On the same day that the Supreme Court turned away two separate appeals challenging assault weapon bans in New York and Connecticut, the Senate rejected a total of four proposals centered around gun control... and Kim Kardashian is not amused.