Futures Jump After Friday Drubbing, Despite Brent Sliding To Fresh 11 Year Lows, Spanish Political Uncertainty

Submitted by Tyler Durden on 12/21/2015 - 06:55
In a weekend of very little macro newsflow facilitated by the release of the latest Star Wars sequel, the biggest political and economic event was the Spanish general election which confirmed the end of the PP-PSOE political duopoly at national level.  As a result, there was some early underperformance in SPGBs and initial equity weakness across European stocks, which however was promptly offset and at last check the Stoxx 600 was up 0.4% to 363, with US equity futures up nearly 1% after Friday's oversold drubbing. In other key news, the commodity slide continues with Brent Oil dropping to a fresh 11-year low as futures fell as much as 2.2% in London after a 2.8% drop last week.

Dramatic Amateur Video Captures Moment Deadly Landslide Buries 33 Buildings In Shenzhen

Submitted by Tyler Durden on 12/21/2015 - 07:29 At least 91 people were missing after a giant mound of mud and construction waste spewed out of an overfull dump site in a southern China boomtown and buried 33 buildings in the country's latest industrial disaster.

Just About Every Part Of The Permian Basin Is Unprofitable At $30 Per Barrel

Submitted by Tyler Durden on 12/21/2015 - 09:10 While many still cling to the belief that U.S. shale and tight oil plays are commercial even at current low oil prices but data on the Permian basin and Bakken plays simply does not support this hope. In fact, less than 2 percent of Permian basin tight oil wells are commercial at $30 per barrel oil prices.

Apple Cuts Latest iPhone Prices By 16% In India As AAPL Stock Re-Enters Bear Market

Submitted by Tyler Durden on 12/21/2015 - 08:50 Today we get another confirmation just how bad Apple end-demand has become, with news out of India that Apple has cut prices of its latest iPhone 6s and iPhone 6s Plus by up to 16% just two months after their launch in India to boost flagging sales in what is historically its most crucial quarter as demand for the flagship devices nosedived from a Diwali high.
 

Fed's National Activity Index Plunges To 6-Month Lows As Yellen Hikes Rates

Submitted by Tyler Durden on 12/21/2015 - 08:37 It would appear that The Chicago Fed's own National Activity Index (CFNAI) is not part of the The Fed's "data" that it is so "dependent" on. CFNAI has been in contraction (sub-zero) for 9 of the 11 months of 2015 and today's November print, missing expectations once again, tumbled to its lowest since May. Would seem like Fed rate hike timing is questionable at best?
 

As Wall Street Vultures Circle The Next Junk Bond Fund Casualty, A Familiar Name Emerges

Submitted by Tyler Durden on 12/20/2015 - 22:38 And so Wall Street has set its sights on the next junk bond fund casualty, a name which is well-known to most equity market participants: none other than Waddell and Reed (WDR), the fund which rose to infamy in the aftermath of the May 2010 Flash Crash, after it was initially blamed by the SEC as the culprit behind the Dow's 1000 point crash...

"America's Ship Is Sinking" Former Bush Official Exposes The Unfixable Corruption Inside The Establishment

Submitted by Tyler Durden on 12/20/2015 - 22:30 "This ship is sinking," retired U.S. Army Colonel Lawrence Wilkerson tells Abby Martin, adding that "today the purpose of US foreign policy is to support the complex that we have created in the national security state that is fueled, funded, and powered by interminable war."

Paul Craig Roberts Warns "Everything Is Disintegrating"

Submitted by Tyler Durden on 12/20/2015 - 18:05 The American people are asleep at the wheel. The blame is not totally their’s, but they do bare the brunt of the blame. The mainstream media does not report what is happening within our economy or the geopolitical arena, unless they can spew on and on about the endless rainbows, unicorns and how “America is the greatest and Putin is the devil." As Paul Craig Roberts warns, we are facing a world in change and the pace is quickening.

FIFA Slaps Sepp Blatter With Eight Year Ban In Bribery Probe

Submitted by Tyler Durden on 12/21/2015 - 08:17 As you may recall, it hasn’t been a good year for Sepp Blatter despite being the recipient of some helicopter money back in July. On Monday, things got immeasurably worse for the 79-year-old, whose 17 year reign at the top of FIFA was suspended in October after Swiss prosecutors opened an investigation into an illicit payment made to European soccer boss Michel Platini in 2011.

A Decade Of 'Tech'tonic Shifts

"This Is Not Normalizing... And No, We Don't Have Any Precedent"

Submitted by Tyler Durden on 12/20/2015 - 21:30 "The key to understand the situation here is that this is not normalizing, and we don’t have a precedent. We really don’t. We’re kind of all being soothed and reassured by the Wall Street Journal and Bloomberg and the financial authorities that we’ve been down this path before, we’ve been down it many times, more often than not we’ve had rising markets as a result and, really, there’s nothing to worry about. The issue with that is there are many things this time that are entirely different..."

Caught On Tape: The Ssssurprising Way Indians 'Deal' With Government Corruption

Submitted by Tyler Durden on 12/20/2015 - 21:00 Unhappy with the demands for bribes from local officials, a disgruntled snake-charmer in the Uttar Pradesh region of Northern India took anti-corruption matters into his own hands...

After Record 10-Day Devaluation Streak China Fixes Yuan Stronger

Submitted by Tyler Durden on 12/20/2015 - 20:29 Since The IMF 'blessed' the Yuan with the same ambivalence-to-currency-manipulation as the rest of the world's competitive devaluers, China weakened the currency for 10 straight days (a record streak). But the streak is over as tonight PBOC has decided to strengthen the Yuan fix (although admittedly by a small amount) to 6.4753 (barely off the 4 year lows).

The Great Disconnect Is Palpable

Submitted by Tyler Durden on 12/20/2015 - 20:25 Taken together with the rather steep drop in US industrial production, the risks of a full-blown and perhaps severe recession have undoubtedly grown. Unlike what the FOMC is trying to project via the federal funds rate, a rate that isn’t being fully complemented, either, at this point, visible economic risk is not just rising it is exploding.

Huge Fukushima Cover-Up Exposed, Government Scientists In Meltdown

Submitted by Tyler Durden on 12/20/2015 - 20:05 Fukushima radiation just off the North American coast is higher now than it has ever been, and government scientists and mainstream press are scrambling to cover-up and downplay the ever-increasing deadly threat that looms for millions of Americans.

False Premises: The Biggest Myths About The Fed's Rate Hike

Submitted by Tyler Durden on 12/20/2015 - 19:15 The premises of the rate increase are several: that the Fed knows best what interest rate is good for the economy... that a recovery is sufficiently established to permit an end to the emergency micro rates of the last seven years... and that otherwise everything is more or less hunky-dory. And they are all false!

Superheroes Of The GOP Debate

Submitted by Tyler Durden on 12/20/2015 - 18:40 With Hillary Clinton cast as their arch-nemesis, the new 'avenging superheroes' - some the same as the old avengers - of the GOP presidential nominee race each have their own unique skills...

California's Worst Gas Leak In 40 Years (And Crews Can't Stop It)

Submitted by Tyler Durden on 12/20/2015 - 17:30 While world leaders signed the 'historic' agreement signed in Paris to fix the world's "greatest threat," a natural gas storage site in southern California is belching 145,000 pounds per hour of Methane - a greenhouse gas 70 times more potent than carbon dioxide. What is worse, while official proclaim this a "top priority" a fix won't arrive until spring as emergency crews recognize "the leak was far from routine, and the problem was deeper underground."

The Fed Has Delivered Far More Than Just A Lump Of Coal This Time

Submitted by Tyler Durden on 12/20/2015 - 16:55 The problem with all of this is that it’s now becoming apparent to everyone. The amount of mal-investment along with just how intertwined all the subsequent carry trades and more is becoming frightfully obvious and can no longer be hidden from view. The real problem now facing the Fed. which I believe they themselves did not fully comprehend was the extent in which all of this was: so blatantly obvious. Again: to anyone who truly wanted to look. Without the Fed’s interventionism – there is (and was) no market. And now with the raising of rates; no one will be able to miss or avoid that fact any longer. No matter how hard they try.

Peak "Office Space"

Submitted by Tyler Durden on 12/20/2015 - 16:20 With the unprecedented surge in unicorns and incessant faith in the ever-increasing productivity of a globalization-crushed American worker, it is perhaps a surprise that the "office space" provided to the intellectual capital-providing, wage-stagnating middle-American, has never been smaller...

Putin Blasts Interventionist US Foreign Policy, Calls Forcible Regime Change "Intolerable"

Submitted by Tyler Durden on 12/20/2015 - 16:00 On the heels of Hillary Clinton's comments during the third Democratic debate regarding the appropriateness of America's pursuit of regime change in Syria, Vladimir Putin is out reiterating Russia's position that "outsiders forcing change of legitimate powers in other countries is intolerable."

Market Figures Out Fed No Longer Has Its Back

Submitted by Tyler Durden on 12/20/2015 - 15:45 The Fed is now - for the first time in adult memory for half the world’s traders and money managers - tightening rather than loosening monetary conditions. A quick look at financial history is all it takes to lead anyone with leveraged money at risk to lighten up. Equally important - and vastly more strange when you think about it - this tightening comes at a time when major parts of the global economy are either grinding to a halt or imploding.



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