A few days after the ECB unexpectedly announced its CSPP, or corporate bond buying program which based on its definition was limited to investment grade, non-financial debt, we explained "Why The ECB Will Be Forced To Buy Junk Bonds", saying that "the reasons to believe Draghi will take the plunge into non-IG corporate credit go beyond the “MOAR is always better” line.Share | Comment
Since 2009 the people of Dimock, Pennsylvania, have insisted that, as natural gas companies drilled into their hillsides, shaking and fracturing their ground, their water had become undrinkable. It turned a milky brown, with percolating bubbles of explosive methane gas. People said it made them sick.Share | Comment
While her speech today at the American Jewish Committee Global Forum included some vague criticism of ongoing Israeli settlement expansion, as usual that will have no impact on US policy, as National Security Adviser Susan Rice centered the speech on pledges of a record military aid package being agreed to soon.Share | Comment
Yesterday we warned that a combination of extreme short positioning in bonds and Treasury yields sitting at a crucial support level meant trouble was looming. Today that 'support' level of 1.70% for 10Y yields has been well andtruly broken as 10Y trades to 1.66% - its lowest in 4 months...Share | Comment
ou may have heard of civil asset forfeiture. That’s where police can seize your property and cash without first proving you committed a crime; without a warrant and without arresting you, as long as they suspect that your property is somehow tied to a crime. Now, the Oklahoma Highway Patrol has a device that also allows them to seize money in your bank account or on prepaid cards.Share | Comment
You know Bilderberg’s about to begin when you start seeing the guns. The Taschenbergpalais hotel in Dresden is filling up with pistol-packing plainclothes security as the last guests are ushered out. The frowning gunslingers head up and down the corridors with their hotel maps, trying door handles and checking the lay of the land while, down in the hotel lobby, corporate goons gather in muttering huddles.Share | Comment
A Washington D.C. lobbying firm closely linked to Hillary Clinton was paid handsomely by a sharia-compliant Bengali bank tied to terrorism, government records show. Islami Bank Bangladesh Ltd., which was founded in 1983, paid The Podesta Group $390,000 starting last year to lobby the Senate and House on “international banking issues,” according to disclosure forms filed with the Senate.Share | Comment
Rigging a primary can and does take many different forms. The most effective form of rigging actually takes place in subtle ways via long-exisiting Stalinist rules that normally don’t swing an election, but serve as an effective firewall against outsider candidates when they eventually do pose a threat. That was the establishment can claim “it’s always been this way,” as if that’s a justification for shadiness. This was the type of rigging we saw in New York, and the type we saw yesterday in California. Many Bernie Sanders supporters held out a lot of hope for a strong performance by the insurgent candidate in yesterday’s California primary. This enthusiasm was based on the notion that California’s primary was “open,” i.e., non-affiliated voters could technically vote for Bernie in the Democratic primary. Recent polls pointed to a very close race due to the huge margin of support for Sanders amongst independentsShare | Comment
The FAA has issued a Notice to Airmen (NOTAM) warning [PDF] that on June 7, GPS readouts will be unreliable or nonexistent for 253 nautical miles (291 miles) at 50 feet above sea level, for 340NM (391 miles) at 4,000 feet, and for 375NM (431 miles) at 10,000 feet, covering a huge area of very busy airspace. The above map shows the Los Angles Basin, the San Francisco Bay Area and Las Vegas in Nevada are among the areas affected in some way. In addition, the FAA is warning pilots flying the Embraer Phenom 300, one of the world's most popular executive jet aircraft, that the testing could interfere with flight stability controls and has said extra care should be taken in the area.Share | Comment
The Obama administration is seeking to amend surveillance law to give the FBI explicit authority to access a person’s Internet browser history and other electronic data without a warrant in terrorism and spy cases. The administration made a similar effort six years ago but dropped it after concerns were raised by privacy advocates and the tech industry.Share | Comment
The Commission’s proposal hopes to address the ongoing migrant crisis in Europe with an €8 billion fund — rising to €60 billion with contributions from member states and the private sector — aimed at persuading Middle Eastern and African countries such as Tunisia, Jordan, Lebanon, Niger, Ethiopia and possibly even Libya to process migrants before they travel to the EUShare | Comment
More than 58 percent of Qatar’s population live in what the government calls ‘labor camps,’ according to the Ministry of Development Planning and Statistics. Some 1.4 million of the country’s 2.4 million population lived in the camps, according to an April 2015 census released on Sunday and cited by AFP. Qatar’s population has grown to more 2.5 million since the census, reflecting the large influx of migrant workers, largely from South Asia, that have been brought in to carry out infrastructure work in the oil-rich Gulf state. In 1986, the population was just 373,000.Share | Comment
In her self-declared “major” foreign policy speech on June 2, presidential candidate Hillary Clinton indirectly admitted that the U.S. government’s drone killings of family members of suspected militants, such as Abdulrahman al-Awlaki, is a war crime. Clinton blasted Republican presidential front-runner Donald Trump for saying “he would order our military to carry out torture and the murder of civilians who are related to suspected terrorists — even though those are war crimes.”Share | Comment
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