Business

Submitted by David Stockman via Contra Corner blog,

By EconMatters

Bonds, Stocks, Credit and Risk are all mispriced right now in Fed and Central Bank enabled financial markets - you can just see the money managers begging for the Fed not to hike rates on their enabled asses. A 4.7% unemployment rate and the Fed still cannot hike rates - 8 years is a complete business cycle folks.

https://www.youtube.com/watch?v=KuoP6dJhqE4

Submitted by Irina Slav via OilPrice.com,

A report from Pew Research Center reveals that between the third quarter of 2000 and the same period of last year, wages across the U.S. rose by 7.4 percent in real terms, driven largely by the oil and gas industry.

Wages in energy-dependent communities rose by the most, in some cases more than twofold, such as in Texas. This shouldn’t be surprising as the period reviewed coincides with the peak of the shale boom in the country, even though it also covers two periods of recession.

After Puerto Rico defaulted on its $422 million debt payment in May, governor Padilla begged congress to step in and help out, which happened shortly thereafter when a House committee cleared legislation that provided Puerto Rico with a way forward on restructuring its debt.

As it turns out, on the day the House announced that it planned on taking up the Puerto Rico bill next week, a 17 member audit commission found that two debt issues worth $4.4 billion of the $72 billion in debt outstanding were unconstitutional.

From hope to nope and back to hope...

Treasury yields continue to push to the lows of the day and stocks push back higher...?? Again!

With bunds at record low yields and 2Y yields collapsing at the fastest since 2009...

Crushing The Fed's credibility... even more than when they folded in Sept 2015

And even FX carry is not playing along...

So what happens next? Well it is Friday.

Charts: Bloomberg