Business

Submitted by Jonas Chokun via 99Bitcoins.com,

The South African Rand is spiking to 2-month highs in early AsiaPac trading after President Jacob Zuma reportedly survives a bid by members of ruling African Nation Congress’s national executive committee to oust him, according to two members of panel who declined to be named because they aren’t authorized to speak on the matter. Bloomberg reports that the Zuma ouster wasn’t put to vote and the ANC isto hold press conference on Monday.

The Rand spiked to its strongest in two months on the news...

For decades, portfolio managers around the WORLD would receive the periodic "Economics & Policy" newsletter, full of original insights on everything from the markets, to the economy, to geopolitics, as penned by Stephen Lewis, chief economist at ADM (if best known for his tenure at Monument Securities which was eventually absorbed by ADM). Sadly, on Friday Lewis sent out his "Valediction" - the last ever Economic Insights report.

Authored by Dan Ruiz via Blinders Off blog,

Carmax is undoubtedly the most efficient and dominant used car retailer in the US. They outsell the next 3 volume leaders combined.

However, something has changed. Please consider the following:

Will the inventory turn at CarMax outpace the depreciation?

This is a snapshot of CarMax’s inventory on March 22nd 2017:

As of May 20, 2017, their inventory has grown by over 18%.

With one bank after another - including Goldman, JPM and BofA - quietly urging investors in recent weeks to head for the exits in a time when the Fed is not only hiking rates but warning about "vulnerabilities from elevated asset positions", over the weekend the latest bank to join the bearish chorus was Citi, and specifically Jeremy Hale's cross-asset team, which in a moment of surprising honesty writes that "eight years into the cycle - and one where QE has been the asset market driver – virtually every market appears rich", including stocks, bonds and credit.