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The energy bankruptcy wave has been officially unleashed. After just yesterday Energy XXI became the latest shale company to seek bankruptcy protection, this morning another troubled energy producer, Goodrich Petroleum announced a prepackaged Chapter filing meant to implement a financial reorganization after struggling to restructure its debt amid declining energy prices. In its press release, […]

Authored by Donald Trump, Op-Ed via The Wall Street Journal, On Saturday, April 9, Colorado had an “election” without voters. Delegates were chosen on behalf of a presidential nominee, yet the people of Colorado were not able to cast their ballots to say which nominee they preferred. A planned vote had been canceled. And one […]

Several weeks ago, a German comedian Jan Böhmermann, landed in hot water after releasing a satirical “video poem” about the Turkish president which aired in ZDF Neo Royale program on March 31, and accuses Erdogan of repressing Turkey’s national and religious minorities, as well as of being a pedophile. The video, which incidentally was less […]Read More

Janet – you have a problem. Following the all-clear from China, soaring stock prices, and ‘stability’ in oil, Empire Fed business conditions just hit a 17-month high. In other words, The Fed is gonna need some bigger ‘turmoil’ excuses or defending “no rate hikes” is going to look a whole lot more political than their […]Read More

Less than six months after we pointed out that the BoJ owns 52% of the entire Japanese ETF market, Reuters reports that the Kuroda’s Peter Pan fairy tale, aka the Bank of Japan, is thinking about buying even more. The BoJ is said to be currently buying $30 billion of ETF’s a year under its […]

The US economy has never – ever – seen Industrial Production drop YoY for seven months in a row without being in a recession. Down 2.0% YoY in March, the weakest since December and down 0.6% MoM (weakest since Feb 2015) the decline in factory output is driven a 1.6% plunge in vehicle production (2.8% […]

According to the latest Weekly Economic Confidence poll released by Gallup, Americans’ confidence in the US economy is getting worse. The poll asks people to rate the economy as of today, and whether or not the economy as a whole is getting better or worse. It turns out that ordinary people are not as excited […]

We were wrong: several minutes ago when we documented the collapse in the Gallup Economic confidence, we said that “we look forward to the UMich confidence report to beat expectations when it is released in just a few minutes.” Moments ago the official print came out and it was not pretty: sliding from 91 to […]

When China reported its economic data dump last night which was modestly better than expected (one has to marvel at China’s phenomenal ability to calculate its GDP just two weeks after the quarter ended – not even the Bureau of Economic Analysis is that fast), the investing community could finally exhale: after all, the biggest […]

There has been some confusion in recent weeks about one unexplained aspect of the rising market: just who is buying? The reason for the confusion is not only the previously documented buyer strike by the smart money (hedge funds, institutions and private clients), which as we reported a few days have sold stocks for 11 […]

Punch States’ IGR dropped by N25.1bn in 2015 – NBS:The National Bureau of Statistics on Thursday released the Internally Generated Revenue figures for the 36 states of the federation for the 2015 fiscal period, with the total IGR dropping by N25.18bn from N707.85bn in 2014 to N682.67bn. We buy dollar at N320, says PZ Cussons:PZ […]Read More

The first quarter financial results of Ecobank Transnational Inc., Africa’s most geographically diverse lender shows the lender is not growing as earnings ebbed on the back of a low oil price and a weaker currency. For the first three months through March 2016, the Togolese bank recorded a 35 percent drop in net income to […]