Business

Following yesterday's surprisingly hawkish minutes, the market held on to hope that either vice Chair Fischer, or former Goldmanite Bill "edible ipads" Dudley would provide at least some dovish counter to a Fed that suddenly has taken out all the wind from the market's sails. That did not happen earlier when Fischer refused to comment on monetary policy, while moments ago Bill Dudley deliver "Opening Remarks at the Economic Press Briefing on the U.S.

Having denied any investigation as "inflammatory and speculative" when the Phil Mickelson insider-trading brouhaha initialy erupted two years ago, it appears the golfer's lawyers may have to shift from the "deny deny deny" defense to "let's make a deal."  Having been unable to pin anything on Wall Street insider Carl Icahn, Vegas sports gambler Billy Walters, and pro-golfer Mickelson with regard their trading in Clorox (during Icahn's takeover bid); the SEC has arrested Walters and announced criminal charges against Dean Foods' Chairman Thomas Davis (who st

In what many considered to be a flagrantly criminal abuse of investment bank "restricted lists", yesterday Goldman underwrote a $2 billion equity offering for Tesla (to find its amusing expansion strategy) just hours after Goldman upgraded the stock to a Buy.

We have done our best to alert the regulators...

Hey @SEC_News here it is in terms even you can understand pic.twitter.com/Yprw3GZDMm

— zerohedge (@zerohedge) May 18, 2016

For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back... until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months!

The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe.

Riksbank Deputy Governor Cecilia Skingsley asked an interesting question: "If monetary policy seems to have lost its magic touch, what can central banks do?"

In a speech summarized on the Riksbank website, Skingsley had some interesting things to say about the efficacy of NIRP, central banks playing follow the leader, and the use of helicopter money as being a viable path forward for central banks.