Earlier today, we brought you the latest from 1MDB, the development bank-turned slush fund at the center of multiple international investigations.
For those who might still be unfamiliar with the story, Malaysian prime minister Najib Razak set up the fund more than five years ago with the help of Goldman and one of the firm’s rising stars named Tim Leissner.
By EconMatters
Today`s Baker Hughes Rig Count data spells real trouble for U.S. Oil Production for the remainder of 2016. At this pace, we are going to start having massive declines in U.S. Domestic Oil Production.
https://www.youtube.com/watch?v=S8jJ6awLiUI
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In Q1 2007, the so-called "godfather" of technical analysis Ralph Acampora told a 'Goldilocks'-prone Larry Kudlow on CNBC that "I'm bullish, but I don't think I am bullish enough...there's new leadership." That call turned out to be very close to top-ticking the market before it's collapse. Fast-forward nine years and Ralph is back, proclaiming that Yellen has "lit a fire under the stock market... and the correction is over."
It has been a crazy year so far.
After what was the worst January for the stock market in recent memory, and a volatile but still difficult month for risk in February, the month of March saw a the biggest rebound from its lows in Dow Jones history, and a substantial bounce for the vast majority of risk assets with positive momentum a feature right up until month end.
So what were the best, and worst, performers in the month of March, and the first quarter? Here is the summary from Deutsche Bank:
Just as we predicted, it seems - despite the "everything is awesome" jobs data - that auto sales exuberance has hit the wall of credit saturation. Despite a surge in incentives in Q1, GM US auto sales rose just 0.6% (drastically lower than 6.0% rise expectations) and Ford rose 7.8% (missing expectations of a 9.4% surge).