I Read The News So You Don’t Have To – Market News (Nov. 06, 2018)

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by ogordained UNITED STATES The ISM Non-Manufacturing index reveals continued economic strength Jobs in professional services, health, and construction grew rapidly over the last 12 months New businesses are forming almost as fast as new jobs are being created Worry over new antitrust rules aimed at tech companies, coupled with worries over weak iPhone sales sent Applestock down On the Ballot Today: San Francisco will vote … Read more

If Politics Were Real

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by Chris It’s entirely laughable that the NYTimes is beating the Russia-gate story still, and it’s actually deplorable how badly they have mangled the statistics. No excuse whatsoever for being so misleading except that it’s intentional and derelict. The result? It’s another unpredictable squeaker of an election when it should be a landslide.  Caitlin Johnstone … Read more

The Hedge Fund Betting on a Credit ETF Implosion

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via Bloomberg: After quitting his job at a $7 billion hedge fund to go it alone three years ago, Adam Schwartz happened upon a short so certain he built a notional position amounting to half his fledgling firm’s assets on it. He’s been borrowing shares and stockpiling bearish options on exchange-traded funds that track major … Read more

LIST: Fattest States In USA…

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via ksat: The study also identified the most popular comfort food for each state. Texas’ comfort food? Brisket. See the top 10 list of fattest states in America: 1. Mississippi 2. West Virginia 3. Arkansas 4. Kentucky 5. Tennessee 6. Louisiana 7. Alabama 8. South Carolina 9. Oklahoma 10. Texas See the 5 states on the slimmer … Read more

EXODUS: California lost more residents to other states than got last year

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Leaving California? You’re not alone. The Santa Cruz Sentinel reports: About 130,000 more residents left California for other states last year than came here from them, as high costs left many residents without a college degree looking for an exit, according to a Sacramento Bee review of the latest census estimates. They most often went to cheaper, nearby states — … Read more

The Fed Frets about “Collateral Stripping,” “Incremental Facilities,” “Cov-Lite,” and “EBITDA Add-Backs” in $1.3-Trillion Leveraged-Loan Boom

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter PE firms are all over this, but investors are still chasing yield. Since the Federal Reserve started warning about the risks of “leveraged loans” in 2014, the amount of US leveraged loans outstanding has surged with delicious irony from $700 billion to $1.3 trillion. These things are hot. And now the … Read more

LIBOR Highest In 10 years, Crude Oil Enters Bear Market, Earnings Momentum Has Deteriorated

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https://twitter.com/OccupyWisdom/status/1059860505723056128 WTI Crude Enters Bear Market – Plunges To 7-Month Lows WTI Crude futures are down 20% from their early October highs, with the front-month contract back to a $61 handle at its lowest level since April. As more details emerged of US sanctions exemptions and the US-China trade war stoked concerns over slowing global growth … Read more

Trump vs the Midterms

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by Raúl Ilargi Meijer Elio Ciol Via Portica, Assisi 1958  Pollsters were so wrong in 2016 you’d think they would have changed jobs by now. Yeah, sure. We remember the 97% prediction for a Hillary win, right? And the 92% from the New York Times? Happy days. Now we have the same suspects plying their usual trade … Read more

Chris Vermeulen: The Calm Before The Market Storm

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by Chris Vermeulen of The Technical Traders With very strong US jobs data hitting the news wires this morning and an incredible upside price swing overnight because of expectations and hope of a US/China trade deal in the works, we were not surprised by the downside rotation in the US stock market this morning.  As we’ve been warning … Read more

John Rubino – NYC is Involvent

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from Financial Survival Network John Rubino returns… When it comes to government incompetence, few places can match New York’s. Corrupt labor laws, rapacious unions and bought and paid for politicians have led the CIty and State into a death spiral. It’s just one of many cities and states facing the burden of retiree pension and healthcare benefits. … Read more

Keith Weiner: We Wouldn’t Bet On A Gold-Backed Yuan Even With Our Worthless Fiat Paper Dollars

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by Keith Weiner of Monetary-Metals Terry Goodkind wrote an epic fantasy series. The first book in the series is entitled Wizard’s First Rule. We recommend the book highly, if you’re into that sort of thing. However, for purposes of this essay, the important part is the rule itself: “Wizard’s First Rule: people are stupid.” “People are stupid; given proper … Read more