Business

The former chairman of one of Spain's largest banks has been found dead with a shotgun blast to the chest in a private hunting estate in southern Spain, the country's Civil Guard said Wednesday.

Authored by Mike Shedlock via MishTalk.com,

Magazine covers tend to coincide with extreme sentiment. The Economist is particularly good at offering contrarian articles.

In December of 2016, The Economist nailed the peak in the US dollar with its “Mighty Dollar” issue.

• Republicans consider bipartisan healthcare talks (Reuters)
• Health Care Collapse Could Leave Trump Winless in His First Year (BBG)
• Republicans to Push Ahead on Repeal of Affordable Care Act (WSJ)
• Obscure Coal CEO Rains Money on Trump While Outflanking Rivals (BBG)
• GOP Tries to Regroup on Obamacare Repeal as Trump Lashes Out (BBG)
• Insurers start to press on subsidies (Reuters)
• Russian lawyer who met Trump Jr. says ready to testify to Congress (Reuters)
• Discovery, Scripps Networks in Cable-TV Merger Talks (WSJ)

“Time To Position In Gold Is Right Now” – Rickards 

After yesterday's stunning 40% plunge in Goldman's FICC revenue, market watchers and MS shareholders were nervously anticipating the release of today's Morgan Stanley Q2 earnings data. In retrospect, they had no reason to be worried, because moments ago MS reported revenue and EPS which both beat expectations, with Q2 EPS of $0.87 (est $0.76) on revenue of $9.5BN vs est. $9.13BN, up from $8.91BN a year ago.