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The Economic and Financial Crimes Commission (EFCC) has uncovered how N3.145b was paid into the accounts of six chieftains of the Peoples Democratic Party(PDP) and Goodluck Support Group (GSG) by the Central Bank of Nigeria(CBN) in the build-up to the 2015 presidential election. The beneficiaries include a former Minister of Aviation, Chief Femi Fani-Kayode; a […]

Governor Yahaya Bello of Kogi state has made five new political appointments as part of his effort to position his government to ensure equitable distribution of dividends of democracy in the state. A statement released on Monday in Lokoja, the state capital, by the Secretary to Kogi State Government, Dr. Ayoade Folashade said the Governor […]

One weekend ago, in an unexpected episode of Zero Hedge trolling by Jefferies economists, the junk-bond focused mid-tier investment bank sent out a note in which it defended the “recovery” as follows: “Lightweights like Zero Hedge might point to a sub-50 ISM as another reason to hate equities, but there’s a reason why little ZH […]Read More

One week ago, as the bear market rally was about to hit its peak post-ECB crescendo, we reported that according to Bank of America data, “The “Smart Money” Is Quietly Getting Out Of Dodge: Sells For A Sixth Straight Week As Buybacks Soar.”  The writing was on the wall with the selling prevalent across every […]Read More

With Valeant in free-fall this morning, collapsing well over 20% after surprising Wall Street with the magnitude of its guidance cut and its simply atrocious results now that the rollup strategy has well and truly blown up, we thought it worth revisiting just what else Bill Ackman will have left to liquidate to meet margin […]

Via Dana Lyons’ Tumblr, After rallying off major support for the past month, the Global Dow Index is testing its key January breakdown level. Money managers and strategists all have their favorite indices that they feel best instruct them as to the market’s likely path, and thus, the most suitable investment posture. For us, our […]

When it comes to analyzing long-term trends, the 10-month moving average has been a great metric for charting long-term bull market vs. bear market changes. Generally speaking (there are of course exceptions) when stocks break above this line, they’re in a bull market. When they break below it, they’re entering a bear market. However, when […]

Following the recessionary surge in Wholesale Inventories-to-Sales ratio, this morning’s Total Business inventories-to-sales rose to 1.40x – the highest since May 2009. With a 0.4% slump in sales and 0.1% rise in inventories, the smell of recession lays heavy on US businesses… but then again – who cares if Draghi can keep buying ‘assets’ and […]Read More

Well, it’s another “super” Tuesday, and that must mean Donald Trump is angling to move even closer to the GOP nomination, an outcome that’s horrified the establishment and seemed so remote just nine months ago as to be laughable. But the only one laughing now is Trump, and boy, oh boy is he laughing hard. […]Read More

Submitted by Arthur Berman via OilPrice.com, The oil-price rally that began in mid-February will almost certainly collapse. It is similar to the false March-June 2015 rally. In both cases, prices increased largely because of sentiment. As in the earlier rally, current storage volumes are too large and demand is too weak to sustain higher prices […]

The European terrorist scare came back with a bang moments ago when gunfire broke out earlier today during a counterterrorism raid in the Belgian capital, local media reported. According to NBC, Belgian media reported that at least one suspect fled and at least one police officer was lightly wounded in the incident in the Forest […]

It’s not just gold that has been in great demand. As Bloomberg notes, investors own the most silver in exchange-traded products in seven months, boosting holdings from a three-year low. The rebound comes as hedge funds and other money managers hold a near-record bet on further price gains. Source: Bloomberg The precious metal, which also […]