Via Dana Lyons' Tumblr,

The CBOE SKEW Index just closed at its lowest level since October 2014 – but is tail risk in the stock market really that low?

After stumbling sideways around unch MoM for 3 months, US retail sales tumbled 0.3% in March (considerably worse than the 0.1% MoM gain expected) confirming BofA's credit card data as we warned. March's print is practically the weakest month since Feb 2015 and is unlikely to get much better given the dismally weak start to April, as we noted here. After 3 months of low-base bounce in YoY retail sales, March saw it collapse back to just 1.7% YoY - deep in recession territory.

March Retail Sales plunge...

Hundreds of schools across the Unites States have tested positive for unsafe levels of lead in their water over the past three years, according to a new report. RT reports: In fact, 278 schools violated the safety levels for lead created by the Environmental Protection Agency since 2013, the Associated Press reported, citing its analysis of government data. In the past year alone, 64 schools tested for unsafe water. About 90 schools had lead levels in the water that were at least double what the federal government considers acceptable, according to the data.

Last week, I heard that Jim Rickards had a new book out, called ‘The new case for gold’. I immediately ordered a copy, and I have to say, Mr. Rickards does an excellent job of refuting various myths surrounding gold, and more specifically laying out a groundwork for the role of gold in the global financial system in the future. This book is recommended.

One month ago we were quite amused by what at that time was one of the most ridiculous short squeezes we have ever seen when the stock of Peabody Energy, exploded higher from $2 to about $6 in days on... nothing.

Many scratched their heads at this move as nothing fundamentally had changed in the company's deteriorating operations, and its bonds are among the most distressed issues trading currently. The move was even more bizarre when just a few days later Peabody warned it may file for bankruptcy protection imminently.