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The number of California retirees collecting a public pension of $100,000 or more hit an all-time high of 79,235 last year, up 85 percent since 2013...

“We’ll need to evaluate why oil majors didn’t participate...”

"We’re dealing with almost a currency issue, longer term, in terms of what is the value of currency when those liabilities..."

"...it's impossible to separate the modern management practice of self-enrichment through massive levels of stock-based comp from the modern management practice of investor placation through massive levels of stock buybacks..."

"Exchanges use omnibus wallets that pool all customer balances and transactions on and off the exchange. So an analysis that shows that ‘a single wallet’ was involved in flows from Bitfinex to other exchanges is meaningless..."

In 2019 YTD, the top 10 crowded stocks underperformed the 10 most neglected stocks by 23%, the most on record!

Simply put, betting on past winners being future winners (and past losers being future losers) has collapsed in the last two months...

“The deregulatory agenda now advancing at the SEC is too often driven by lobbyist intuition rather than hard facts about the markets we oversee.”

One day after a blockbuster 3Y auction, moments ago the US Treasury sold $27 billion in 10Y paper in what was a stellar auction of US benchmark paper.

Ominously, the only lower reading occurred on January 23, 2018, just before a big decline...

A tie-up would unit fading tech giants who have struggled to adjust to the new technology environment...

"This is not only unethical. It’s undemocratic, since future generations never had a chance to vote on the original spending..."

US equity futures suddenly tumbled after Reuters reports that the signing of the US-China trade deal could be delayed until December as terms and the venue remain unclear.

It's still unclear whether other senior German officials and leaders throughout the EU will back the plan...

Despite what the Fed leads us to believe, they have little control over the rate of inflation and they do not know how to accurately measure it. As occurred 50 years ago, they can easily lose control of prices...

OPEC is anticipating a supply glut in the first half of next year and prices are already lower than most members need to balance their budgets.

These are the 3 butterflies of the current global equity rally, each flapping their wings on distant shores but in aggregate creating something productive rather than "chaos."

OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply elsewhere, and pressure from climate activists.