Business

With the collapse of Home Capital Group focusing the world's attention on the Canadian real estate market, nowhere is the subprime debt time bomb more likely to go off than Toronto, which as we recently noted "has gone nuts."

Even Bank of Canada Governor Stephen Poloz (who declined to comment on questions about Home Capital Group and whether he’s worried about contagion), noted that Toronto is out control tonight while answering questions following a speech in Mexico City...

Forex is the most simple market in the world.  As we explain in our book Splitting Pennies - Forex is the underpinning of the world's financial system.  Although it is also the least understood market, there's nothing 'sophistocated' about FX.  Take a dollar, exchange it for a euro.  The rate changes - exchange it back.  Simple!  Trading money.

Via Disobedient Media

The anonymous source of documents alleging Emmanuel Macron's involvement with an operating agreement for a Limited Liability Company (LLC) in the Caribbean island of Nevis returned to release several high quality images of the purported documents along with promises to identify account locations and the extent of the assets Macron is supposedly hiding from regulatory authorities.

After the abysmal March labor report, all we - and the Fed - can say is that April better be good, or else Yellen's claim of "transitory weakness" will simply be the latest nail in the coffin of Fed credibility. Here is the consensus for the key numbers the BLS will report at 8:30am ET on Friday morning.

Submitted by Gordon Johnson of Axiom Capital