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Share on Facebook Tweet on Twitter Nollywood Actor and Producer, Omoni Oboli, has begun works on her fourth production as a Producer and Director. The new work “Okafor’s Law” is coming on the heels of the success of Wives on Strike which became the third most successful nollywood movie in Cinema ever. Here are some […]

In the first wave of macro data today, initial claims beat expectations, dropping to 253k near record lows (but remains wildly divergent from tumbling consumer confidence). Following June’s rebound in Philly Fed, July missed expectations tumbling to six-month lows, back to a contractionary -2.9 (against expectations of a flat print of +4.5). Finally, Chicago Fed’s […]Read More

Earlier we previewed the prevailing consensus which expected Draghi to announce some easing if not in monetary policy, then in the bank’s QE program to make more German securities eligible. However, that did not happen and instead Draghi said the Eurozone has weathered the Brexit fallout and that at this point the ECB did not […]

Submitted by Charles Hugh-Smith via OfTwoMinds blog, If there’s nothing supporting this rally but euphoric sentiment arising from orchestrated buying, any eruption of reality will reveal the rally as a head-fake. Let’s say you wanted to engineer a stock market rally that triggered every technical “buy” signal and wiped out those who are short the […]Read More

By Chris at www.CapitalistExploits.at Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing. Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at, and present to you absurdity in global financial markets in all it’s glorious insanity. While we […]Read More

While Wall Street was shocked yesterday after the announcement that HSBC’s global head of cash FX trading, Mark Johnson, was arrested at JFK on charges of frontrunning a Cairn Energy trade of $3.5 billion pounds, perhaps nobody was more surprised than his employer, HSBC. According to Bloomberg, the Johnson was about to move to the […]

If ever there was a reason for more European nations to ‘exit’ the sinking ship, Mario Draghi just spewed one. Having sent European bank stocks sliding with earlier calls for reforms, Draghi’s wishful-thinking sent bank stocks soaring (especially Italian banks) after he noted a “public backstop is a measure that would be very useful and […]Read More

The Bank of Japan admitted back in June helicopter money is not on the agenda. Amazingly this is news today after the market has rallied hard based on hope that helicopter money is about to be unveiled. The yen pared an advance against the dollar as it emerged that an interview in which Bank of Japan Governor […]

Despite a better than expected 1.1% MoM rise in June (thanks to notable downward revisions), existing home sales growth is the slowest since February. Of course, NAR’s Larry Yun gloated of “sustained job growth” driving an “impressive streak of sales gains,” although he cautions ” it’s unclear if this current sales pace can further accelerate.” […]Read More

In his first statement since unleashing the fury of Trump supporters at the RNC, Ted Cruz on Thursday morning defended distancing himself from Donald Trump, saying he won’t vote for Trump “like a service pully dog”, adding that he is not voting for Clinton, while ripping the Republican National Convention’s response to his speech the […]Read More

Perhaps taking a cue from recent events in Turkey, moments ago Reuters reported that Brazil’s federal police began an anti-terrorism operation early Thursday, just over two weeks before the Olympics start in Rio de Janeiro, a justice ministry source told Reuters. The source said that federal police had arrested members of a group that was […]

Consumer Goods company, Unilever released its 2016 half year results showing pre-tax profits rose 1,480% to N1.4billion. The company also recorded strong year on year top line growth within the same period with revenues rising 12% to N32.2 billion. On the surface, this looks like a great result and could imply that the consumer goods […]