S&P Raises Outlook On Greece Ahead Of Bond Sale, Keeps B- Rating

July 22, 2017 - 3:16am

Consider it a kiss to the bond investors who are expected to oversubscribe the upcoming latest "triumphal" Greek return to the bond markets, as soon as next week. Moments ago, rather unexpectedly, S&P raised its outlook on Greece from Stable to Positive, but reaffirmed the Greek rating at B-. The rating agency, said it believes that "recovering economic growth, alongside legislated fiscal reforms and further debt relief, should enable Greece to reduce its general government debt-to-GDP ratio and debt servicing costs through 2020."

Oil Rig Count Falls By 1 As Analyst Warns Permian Reserves Are Grossly Exaggerated

July 22, 2017 - 3:07am
Oil Rig Count Falls By 1 As Analyst Warns Permian Reserves Are Grossly Exaggerated

For only the second time in the last 27 weeks (and 4th in the last 56 weeks), the number of US oil rigs fell last week (down 1 to 764 rigs). There is a growing concern that the rising rig count has now outpaced the lagged response to pricing and is due to rollover further...

Notably the Canadian oil rig count rose by 12 last week.

"Everything Will Collapse" German Judge Warns As Refugees Flood System With Appeals

July 22, 2017 - 2:47am
"Everything Will Collapse" German Judge Warns As Refugees Flood System With Appeals

Hundreds of thousands of migrants who’ve appealed decisions by Germany’s immigration courts have brought the country’s legal system to the brink of collapse, a German judge warned on Friday.
More than 1.3 million migrants have arrived in Germany since the beginning of 2015. Since then, the sheer number of cases filed has overwhelmed the civil courts of the country, said Robert Seegmuller, chairman of the Association of German Administrative Law Judges, speaking to the publishing house Redaktionsnetzwerk Deutschland.

5 Articles About the State Taking Parent’s Rights

July 22, 2017 - 2:44am

Via The Daily Bell
The state is deciding who is fit to be parents, keeping parents from treating their sick kids, and arresting parents if their kids skip school. Oh but don’t worry about that smart device in the home. All that info it’s collecting on your kids could never fall into the wrong hands.
1. State Decides If You Are Smart Enough to Keep Your Kids

El-Erian Exposes The Upside And Downside Of Liquidity-Driven Markets

July 22, 2017 - 1:30am
El-Erian Exposes The Upside And Downside Of Liquidity-Driven Markets

Authored by Mohamed El-Erian via Bloomberg.com,
Over the past few months, government bond yields have fallen, the dollar has weakened and financials have underperformed, yet the major stock indexes are at or very near record highs, as persistently supportive liquidity conditions have more than compensated for policy and growth disappointments.
By boosting returns and repressing volatility, ample liquidity is a gift for investors. It makes the investment journey pleasing, comfortable and lengthy. But it is not a destination.

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