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    Moody’s: Government Default Trend Is Expanding
Jun 29, 2017 - 13:42:51 PDT
Bond Default rate there were notable defaults in 2016, but there are “Likely More to Come in 2017,” they said in a headline
The global rally in financial markets is unsustainable because it only seems to respond to changes in the real economy when it fits a certain narrative, according to the CIO of Fasanara Capital.
Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world's annual economic output (GDP), reports the Institute of International Finance (IIF).
Total application volume fell 6.2 percent last week, compared to the previous week.
    First Quarter GDP Revised up to A "Satisfactory" 1.4%
Jun 29, 2017 - 12:51:13 PDT
Yield on the long bond is up for the second day, but the monthly trend is pretty clear. The bond market does not think much of this recovery & neither do I.
The previous “crisis” wasn’t about just “an asset gone bad,” but rather the systemic shock caused by a “freeze” in the credit markets when Lehman Brothers filed for bankruptcy. Counterparties evaporated, banks froze lending and the credit market ceased to function.
FED'S BULLARD SAYS NEED TO CREATE POLICY SPACE IN GOOD TIMES IN CASE NEED MORE QE IN FUTURE
    Off the Deep End
June 29, 2017
C’mon in. The water is fine...
    “Tightening” Slugfest Erupts behind the Fed
Jun 29, 2017 - 10:44:40 PDT
It has been a veritable slugfest by central bank chiefs today and yesterday: Fed Chair Yellen, ECB President Draghi, Bank of England Governor Carney after his chief economist suddenly turned hawkish last week
    NYSE President: Why Markets Should Be Rigged More
Jun 29, 2017 - 10:41:09 PDT
Targeting Short Sellers: what they do is “icky and un-American.”
History has a tendency to repeat from time to time, and somehow surprise everybody when it does so.
The Fed's Stress Tests Are Like the Wizard of Oz: An Illusion to Delude the Public Yesterday.....
An article from Investopedia recently caught my attention: “IMF Urges Banks to Invest In Cryptocurrencies”
    Dow Drops Over 200 Points as Tech Stocks Slide
Jun 29, 2017 - 09:32:16 PDT
U.S. equities fell on Thursday as technology's latest drop washed out strong gains from the big banks.
Some strategists see clear signals coming from the 6 percent drop in the U.S. currency.
The Great Recession is over? but a lot of Americans still haven't recovered
At the end of 1929 they celebrated New Year's Eve, excited about the future. Nobody knew a Great Depression was coming
China, Russia see the US dollar as a looting currency & why they are accumulating Gold as a standard of trust and trade
    Illinois Is in Deep Trouble
Jun 29, 2017 - 07:13:27 PDT
Illinois is locked in a political stalemate, & in danger of becoming the first U.S. state to have its debt downgraded to junk status. S&P Global Inc.
    Gold Eases as Central Bank Comments Lift Yields
Jun 29, 2017 - 07:02:53 PDT
Gold eased on Thursday, surrendering early gains as signs this week that central banks may scale back their ultra-loose monetary policy pushed bond yields higher, though a decline in the dollar to its lows for the year lent support.