Business

While one can hardly accuse the market of being particularly nervous at this moment, with the VIX dropping to single digits earlier today for the first time in a decade, and with strategists and pundits explaining to anyone who will listen how this is the "most hated rally ever" despite the S&P trading at all time highs at valuations that are in the 99 historical percentile, an interesting admission was made today by Bank of America which reported that in April, its Sell Side Indicator, a proprietary measure of Wall Street’s bullishness on stocks, rose by 0.6ppt to 53.5, its hig

Authored by Zainab Calcuttawala via OilPrice.com,

Chinese diplomatic analysts believe further nuclear tests by North Korea could push Beijing over the edge, prompting an oil embargo that would deal a devastating blow to Pyongyang’s stability.

US Secretary of State Rex Tillerson told Fox News that he had been informed that “China would be taking sanctions actions on their own,” should Pyongyang conduct another nuclear test.

 Manipulation's Persistence and Comex' Demise

• Comex Demise is a welcome event
• How Market Structure Impedes True Metals Price Discovery
• DGCX/ SGE Rising: The GoldenYuan Replaces the Petrodollar
• Manipulation's Persistence

via Soren K Group and MarketSlant

Authored by Michael Snyder via The Economic Collapse blog,

As discussed first thing this morning, the fate of Canada's largest alternative mortgage lender, Home Capital Group, appears to have been decided over the weekend, when in the span of just one week, over 70% of the company's deposit base had been withdrawn, effectively mothballing the business, leaving just a sale or liquidation as the two possible outcomes even as a $2 billion emergency line of credit keeps the company afloat, at least until HCG's $12.8 billion in GICS mature some time over the next 30 to 60 days.