Environment

A group of hikers from Ohio were stunned and “freaked out” after stumbling upon a burning tree dubbed the “devil tree” during a routine hike last week.  The two hikers filmed a video of the spectacle and shared it on social media where users could clearly see a raging inferno burning inside of the tree but without any smoke or apparent damage to the outside of it. Dailymail.co.uk reports: In the beginning of the 30-second video, one of the hikers can be heard saying ‘What the f***,’ as the person filming aims the camera at the top of the tree, which is engulfed in flames from the inside.

Jackson Country, Oregon, have joined an ever-increasing number of “GE-free” areas in the U.S., where farmers do not cultivate GMO crops.  It’s the eight county in the country to ban the practise of GE farming, as farmers across the land drop producing GMO crops en masse. Washingtonpost.com reports: The Jackson County designation was made final on Dec. 22, when a federal judge approved a consent decree protecting the zone.

Submitted by Ryan Opsal via OilPrice.com,

The South China Sea is continually paraded as a region rich in oil and gas deposits; however, no one really knows what’s there with any degree of accuracy. Furthermore, these possible deposits are shrouded in conflict that will not abate anytime soon, and will most likely worsen with an intensification of the security competition between China and the United States along with its regional allies, which is tightly related to these disputes.

Led by a 4.3% collapse in Germany's DAX index, European Stocks plunged 2.5% today which is the worst start to a year ever. European credit markets spiked higher in risk. 10Y bund yields tumbled over 6bps and peripheral sovereign risk spreads jumped 10-15bps. Not a good start for Draghi and his pals...

Germany led the collapse...

Which has driven Stoxx 600 - the broadest European stock index - down over 2.5% for its worst start to a year ever!!

Charts: Bloomberg

Nestle Waters North America is under investigation by the US forest service. The world’s largest food company has applied to renew its bottling operations permit in southern California’s San Bernardino National Forest. According to reports, the US forest service has begun an environmental review of Nestle Waters North America’s bottling operations in drought stricken southern California. The company is allowed to operate while awaiting the result of its permit renewal.