Since the January FOMC statement, Janet has spoken twice and what seems like every Fed speaker has hit the headlines to explain their decisions (only to confuse the market more) leaving bonds and gold outperforming amid their clear confusion. The Minutes appear to confirm that confusion:

Why would a social conservative vote for Donald Trump, who is the least socially conservative of all the Republican candidates? I can think of a few reasons:

1. The big issues for social conservatives are abortion, gay marriage, and religious liberty (religious liberty being threatened as a consequence of gay marriage and civil rights laws).

Submitted by Claire Bernish via TheAntiMedia.org,

Though fracking industry proponents scoff at any intimation their so-called vital industry poses even scant risks to the public, a new study published in Toxicology and Applied Pharmacology just proved those critics right — fracking wastewater causes cancer.

Using human bronchial epithelial cells, which are commonly used to measure the carcinogenesis of toxicants, researchers confirmed fracking flowback water from the Marcellus Shale caused the formation of malignancies.

Yesterday, when summarizing the latest torrid move in stocks higher, we said that stocks surged 'on the biggest short-squeeze in 4 months."

Today, Credit Suisse picks up on this theme and asks "how much of this rally is short covering?" The bank's answer: "Looks like a lot based on this prime services data."

For equity market-neutral funds, there is a phrase more chilling than "worst since Lehman" and that is the quant meltdown in "August 2007" that put many funds out of business. While the mainstream media remains focused elsewhere, the last two weeks have seen equity market-neutral funds 'crash' - and today it has gotten much worse - as momentum factors diverge and memories of the 2007 bloodbath come back as this forced unwind drives the current ramp.