Friday, August 12, 2016

FBI Mutiny? Feds Said To Launch Clinton Foundation Corruption Probe Despite DoJ Objections...

Multiple FBI investigations are reportedly underway involving potential corruption charges against the Clinton Foundation, according to a former senior law enforcement official... The actions are "seen by agents as a positive development as prosecutors there are generally thought to be more aggressive than the career lawyers within the DOJ.”

96% Of Clinton Donations Went To The Clinton Foundation

Clintons Release 2015 Tax Returns, Reveal $10.6 Million In Income, 34% Tax Rate

Coincidentally, on the same day that The NYTimes claims Donald Trump paid no taxes last year (though not illegally), The Clintons have chosen to release their tax records. As AP reports, Hillary Clinton's campaign says the Democratic nominee and her husband paid a federal tax rate of 34.2 percent and donated 9.8 percent of their income to charity last year.

Don't Show President Obama (Or Hillary Clinton) This Chart

If "everything is awesome" as Hillbama proclaim (though there is more work to be done...) and stocks are backed by the "strength of the economy," then why are Americans' views of their financial prospects crashing to their lowest since 2014...?

"The Final Melt Up", "A Blow Off Top": Money Floods In As Investors Turn Euphoric At Triple Record High

Oil Slides After Biggest Rig Count Rise Since Dec 2015

From the May lows at 316, US oil rigs have risen 10 of the last 11 weeks to 396, tracking lagged oil prices almost perfectly still. Oil prices had rallied all morning into the rig count data but the 15 rig rise - the biggest since Dec 2015 - sent prices lower...

European Close Sparks $5 Billion Selling-Panic In Gold Futures

Someonce decided to wait until Europe closed to dump $5 billion of notional gold into the markets (36k contracts)... makes perfect sense...

Michigan Pension Funds Boost Tesla Stake By Over 200%

"Our original $25 million position in Tesla was relatively minor, and we added approximately $50 million during the past quarter," the department said in a statement. "The additional shares did not materially add to the risk of the overall $60 billion investment portfolio."

"Expert" Says Rising Rapes In Sweden Due To Global Warming Not Soaring Muslim Immigration

"...we have been a bit unlucky with the weather this year. Hopefully we will have a colder summer next year and sexual crimes will then be an old memory linked to that one hot Swedish summer..."

Crude Spikes To 3-Week Highs After Biggest Surge In Open Interest In 10 Years

WTI is now up 14% from its lows last week, with Sept 2016 trading back above $44.50 at 3-week highs. Despite rising inventories (and record production levels in OPEC), the Saudi statement hope remains and prompted the biggest spike in WTI Open Interest since August 2006 yesterday! Of course, that is "probably nothing" but we suspect the last few days sudden spike in prices and aggregate positioning are a little excessive relative to any fundamentals.

Russia Deploys S-400 Missile System To Crimea, As Tensions With Ukraine Soar

Russia has deployed its advanced S-400 air defense missile system to annexed Crimea, Russian news agencies reported on Friday, citing a statement from the Russian Defence Ministry.

Was This Wartime Technology Really Deployed Against Journalists Inside the DNC?

Technology developed to jam cellphones during the Iraq War may be getting deployed against journalists reporting on protests against the political establishment in the United States. Both citizen journalists and mainstream media reporters found they couldn’t share photos or video when they approached the gates of the Democratic National Convention, leading many to believe that their cell signals were being jammed... "It's scary for me as a journalist because that’s how state suppression of events occurs..."

As US Crude Exports Soars, Here Are The Biggest Foreign Buyers Of US Oil

Since the removal of restrictions on exporting U.S. crude oil in December 2015, the number of countries receiving exported American oil has risen sharply. Here are the biggest buyers of US oil.

China Bond Yields Drop To Decade Lows As Economy Sinks After New Loan Creation Tumbles

Following an unprecedented credit expansion by China, which in the first few months of 2016 injected well over a trillion dollars in total credit, the payback - as previewed here - is coming. As reported earlier, overnight China reported that a swath economic activity, from factory output to investment and retail sales, slowed last month, reflecting renewed weakness in China’s economy, resulting in10Y bond yields dropping to near all time lows.

Friday Humor? Palo Alto Planning Commissioner Quits Due To High Cost Of Housing

"Dear City Council Members and Palo Alto Residents, This letter serves as my official resignation from the Planning and Transportation Commission. My family has decided to move to Santa Cruz. After many years of trying to make it work in Palo Alto, my husband and I cannot see a way to stay in Palo Alto and raise a family here... no reason to keep serving the average Joe when the city is only affordable to Joe Millionaires."

Core Retail Sales Tumble Most Since January

Despite this week's Macy's-driven retail sales exuberance - following BofA's suggestion that all was not well - the official retail sales print shows July was ugly... Retail Sales (ex Autos/Gas) fell 0.1% MoM (missing expectations of +0.3%) to the weakest since January. The headline data was flat MoM (dramatically missing the +0.4% expectations). The drop was driven by weakness in gas station and sporting goods sales (along with department stores... apart from Macy's?). Perhaps most worrying hjowever is the mere 2.3% YoY growth in headline retail sales - a level that has signaled recessionary conditions in the past.

Producer Prices Unexpectedly Slide -0.4%, Missing Expectations, As Prices For Clothing, Jewelry, Beef Tumble

Just as moments ago a far weaker than expected retail sales report once again confounded economic watchers who, in the aftermath of the second month of surprisingly strong payrolls, were expecting the upward momentum to continue, so at the same time we got the latest producer price report, according to which PPI for final demand decreased 0.4% in July. 60% of the decrease in prices for final demand services is attributable to margins for apparel, jewelry, footwear, and accessories retailing, which fell 6.0 percent, while a major factor in the decrease in the index for final demand goods was prices for beef and veal, which fell 9.8%.


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