Business

On Saturday, Iran marked what President Hassan Rouhani called a “golden page” in the country’s history when the IAEA ruled that Tehran had stuck to its commitments under last year’s nuclear accord.

Moments after the ruling was handed down, the US and the EU each lifted nuclear-related financial and economic sanctions on the “pariah state,” much to the chagrin of Israel and Tehran’s regional rivals who view the West’s rapprochement with the Iranians with deep suspicion.

More than six weeks after the governing council of the European Central Bank has met in Frankfurt, the ECB has finally published the minutes of the meeting which paved the way for a disappointing action from the ECB. The expectations before the meeting and monthly decisions were set very high, and the market was clearly disappointed with a deposit rate cut that was just 0.10%, resulting in a new deposit rate of -0.30%.

According to Citigroup's Matt King, it is now officially too late to save junk debt, which has entered the final stage of the credit cycle, the one where defaults for high yield bonds rise with every passing month.

Both what about investment grade, which according to Citi is still just ahead of the "bubble bursting phase"? Here is UBS' credit strategist Matthew Mish with one take on what happens to IG debt over the coming 12 months.

How The Dominos Will Fall?

Submitted by Mac Slavo via SHTFPlan.com,

Forget for a moment that U.S. stock markets have seen their worst start to a new year since the Great Depression or that some $2.5 trillion in wealth has been evaporated in less than two weeks.

CNN says it’s hardly the time to panic:

Time to panic? Hardly.

 

There are plenty of reasons to relax, especially if you are a U.S investor. Here are the top two:

 

1. America’s economy is still in good shape.

 

JPMorgan shifts to the dark-side...

It would be hard for a year to start any worse than 2016 has.