Business

Jeff Bezos and Bill Gates vying for the world's richest man title...

Did Trump just shove another NATO leader to be in the front of the group? pic.twitter.com/bL1r2auELd

— Steve Kopack (@SteveKopack) May 25, 2017

Today's biggest story outside of AMZN $1000, was OPEC's epic fail... OPEC announced a 9-month extension of its production cuts that have not worked. The market was disappointed...WTI saw its biggest down day since Feb 2016

Authored by Mark Melin via ValueWalk.com,

The New York FBI has cracked another insider trading case, this time involving employees at the $7 billion Deerfield Management, a high-profile hedge fund whose managing partner warned in 2015 against investing in Valeant Pharmaceuticals due to its unsavory pricing practices.

Insider trading allegations: Deerfield accused of accessing improper information

It seems that San Francisco's tech billionaires and their lower-level millionaire minions have finally lost their appetite for outrageously priced homes in the Bay Area.  After five years of posting some of the highest YoY pricing growth of any market in the country, single-family home prices in San Francisco and San Mateo counties dropped 2.5% YoY in Q1 2017, making it the the worst performing market of the 100 largest U.S. metropolitan areas, according to an index released earlier today by the Federal Housing Finance Agency. Per Bloomberg:

Authored by Nick Cunningham via OilPrice.com,

OPEC has agreed to extend its production cuts for another nine months in an effort to bring the oil market back into balance. Keeping in place the 1.2 million barrels per day (mb/d) of OPEC cuts, plus the 558,000 bpd of non-OPEC reductions, for nine months rather than six should be enough to “normalize” crude oil inventories, according to most analysts.

Back in February, we wrote that over half a year after we first reported last August that foreign official institutions - central banks, sovereign wealth funds and reserve managers - are liquidating US Treasurys in record amounts, a process that only accelerated into year end when official entities sold a record $405 billion in US paper in the LTM period, Bloomberg decided to catch up to the topic with "America’s Biggest Creditors Dump Treasuries in Warning to Trump."