Last week, the market got some good (and “good” is a relative term here) news with regard to Puerto Rico’s debt crisis.
The commonwealth - which you’ll recall is struggling to crawl from beneath a debt pile that sums to $70 billion - managed to strike a deal with PREPA’s creditors and the monolines that will see bondholders and lenders accept losses of 15% with the insurers putting up a $450 million surety bond.
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Gold & Silver Prices Will Surge On Fundamentals Not Technical Analysis
Posted with permission and written by Steve St. Angelo, SRSrocco Report (CLICK FOR ORIGINAL)
by Ron Paul
Stocks rose Wednesday following the Federal Reserve’s announcement of the first interest rate increase since 2006. However, stocks fell just two days later. One reason the positive reaction to the Fed’s announcement did not last long is that the Fed seems to lack confidence in the economy and is unsure what policies it should adopt in the future.
Submitted by Arthur Berman via OilPrice.com,
Less than 2 percent of Permian basin tight oil wells are commercial at $30 per barrel oil prices.
Sorry about that. I know that many believe that U.S. shale and tight oil plays are commercial even at current low oil prices but data on the Permian basin and Bakken plays simply does not support that belief.
Two weeks ago, well before the most recent Apple "sell-thru" scare hit AAPL stock and pushed it into bear market territory, or down 20%, from its recent highs, we warned that the company faces a risk of inventory correction as a result of at least three channel checks (and soon thereafter, more) confirming deteriorating iPhone sales, indicative of either company specific or, worse, a broader drop in market demand for smartphones.