Business

According to conventional wisdom, or at least logic, the less income one has the more likely they would be to lie on a loan application due to disproportionate and non-scaled needs to obtain capital as well as the willingness - statistically speaking - to do so at any cost, even if it means lying. And while that would have been accurate 6 months ago, the latest quarterly UBS Evidence Lab survey of consumer credit reveals something surprising.

Yesterday was a landmark day for the ECB. First, the central bank disclosed that its CSPP, or corporate bond, holdings rose above €100Bn for the first time. As DB's Jim Reids notes this morning, to put things in perspective, a similar market cap company would be the 18th largest in the Stoxx 600 and 42nd largest in the S&P 500. It's also roughly equivalent to the annual national output of Kuwait - the 59th largest economy in the world as of 2016."

Submitted by Ronan Manly, BullionStar.com

The COMEX gold futures market and the London OTC gold market have a joint monopoly on setting the international gold price. This is because these two markets generate the largest ‘gold’ trading volumes and have the highest ‘liquidity’. However, this price setting dominance is despite either of these two markets actually trading physical gold bars. Both markets merely trade different forms of derivatives of gold bars.

Treasury yields are tumbling once again (10Y at 2.25%, the lowest since June 29th) - as more weak US macro data is compounding Yellen's dovish tilt from last week. As bond yields began to tumble, so stocks rolled over and VIX jerked above 10...

10Y Yields have retraced exactly 50% of the post-hawkish-Draghi swing higher...

Notably UST bonds relationship to Bunds has broken down in the last week...

And while yields are testing the lows of the day, stocks are rebounding.. because that's what they do...

Chipotle shares are tumbling after Business Insider reports the firm has shut down a restaurant in Sterling, Virginia, after multiple reports of customers getting sick after eating there.

As BI reports, customers reported symptoms such as vomiting, diarrhea, severe stomach pain, dehydration, and nausea to the website iwaspoisoned.com, which first alerted Business Insider to the issues at the Sterling restaurant. One person reported two hospitalizations as a result of the illnesses.