Business

"Own volatility.." is the subtle message from BofA's Michael Hartnett, who warns "don't add risk before SPX 1950-2000 range and/or VIX>20." Simply put, as he explains below, bullish "positioning shocks" & "policy shocks" are largely behind us; and there is no bullish "profits shock" coming in a world that cannot cope with a higher US dollar & higher rates.

2016 YTD global total returns: commodities 7.6%, bonds 7.5%, equities 1.1%, the US dollar -5.8%.

Our base case remains:

Anonymous have declared war on Big Pharma, the CDC, FDA and Monsanto over the poisoning of our children #Op_Pharma is focused on exposing and spreading awareness on the lies and corruption of the Medical establishment, Big Pharma Corporations and their cronies. HealthyFoodPro reports: An “Anonymous” YouTube user named “TheAnonMessage” has just announced #Op_Pharma, a coordinated effort to expose the “lies and corruption of the medical system” and Big Pharma. War has been declared.

Submitted by Irina Slav via OilPrice.com,

The first U.S. shipment of liquefied natural gas (LNG) arrived in Portugal last week and Gazprom did not immediately cut its own gas prices for Europe. While European media has hailed the entry of U.S. gas into the market as a game-changer and a monopoly-breaker, in the short term, nothing has changed at all.

Submitted by Bryce Coward via Gavekal Capital blog,

In an interview with Wolf Blitzer, Donald Trump said that although he is the "king of debt", and that he "loves debt", he wouldn't bail out Puerto Rico.

Responding to whether or not Trump would bail out Puerto Rico as president of the United States...