Disaster

With the VIX slammed at the close of trading on "quad-witch" Friday, sending it just shy of single-digits once again and pushing stocks back in the green in the last seconds of trading, the much discussed topic of (near) record low volatility simply refuses to go away, which means even more attempts to i) explain it, ii) predict what ends the current regime of "endemic complacency" and iii) forecast the "catastrophic" damage to markets when it does finally end as JPM's Kolanovic did earlier this week, when he set the bogey on a modest increase in the VIX from 10 to just 15.

The USS Fitzgerald, a guided missile destroyer, collided with a merchant vessel southwest of Yokosuka, Japan, the U.S. Navy said in a statement on Friday afternoon. The crash happened at approximately 2:30 a.m. local time on June 17, and the Navy requested Japan's Coast Guard's assistance.

The Navy said the Fitzgerald collided with a merchant vessel 56 nautical miles southwest of Yokosuka and the extent of injuries to U.S. personnel "is being determined." It added that the Navy had requested the assistance of the Japanese Coast Guard.

While Michigan Gov. Rick Snyder remains comfortably ensconced in the governor’s mansion, Mich. Attorney General Bill Schuette charged two more state health officials for misconduct related to the poisoning of Flint, Mich.'s watere supply, adding to the list of lower-level officials who've been held accountable for their actions while top decision makers go free.

VIX was slammed back to a 10 handle...

to enable Nasdaq to ramp up to pre-flash-crash levels from Friday...

As FANG stocks bounce again...

The question is what happens next?

Eight people have been injured and two are hospitalized after a car has crashed into a wall at Amsterdam Central Station, according to the Amsterdam police while onlookers claim that the driver crashed into the crowd; the driver has been arrested.

Someone just ran into 10 people near Amsterdam Central Station, exactly where my exchange group was... #Amsterdam

— ? ash ? (@ashbphelps) June 10, 2017

Witnesses say several police cars and ambulances were on scene