Europe

Following yesterday's record-breaking, blockbuster 10 Year auction it would have been difficult to follow the unprecedented scramble for benchmark OTR paper, and sure enough it was.

Moments ago the Treasury sold $15 billion in 30 Year paper in what may have been one of the weaker ultra-dated bond auctions in recent months, when it printed at 2.615%, tailing the When Issued by 0.7 bps, the first 30Y tail since February, and about 2 bps higher than the 30Y auction in April. 

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Following today's Brazilian Senate vote, which as reported earlier was expected to vote overwhelmingly to endorse Dilma Rousseff's impeachment and did just that in a 55-22 vote, Rousseff appealed to the public in a televized broadcast and condemned the move to impeach her as a "coup" and a "farce", denying she has committed any crimes.

Kill TTIP Now

Paul Craig Roberts

In his May 9, 2016, speech to European medical professionals, Michael Hudson points out that the result of TTIP for Europe will be the privatization of health care systems with the associated much higher costs.

Hudson’s accurate description of TTIP shows that politically powerful corporations have gained the power in Western “democracies” to sacrifice the welfare of all populations to corporate greed for profit regardless of the cost to peoples, countries, and societies.

Submitted by David Stockman via Contra Corner blog,

Tuesday’s spasm of machine rage begs a question. After the S&P 500 has chopped sideways for 600 days in no man’s land either side of 2060, and given the baleful headwinds now gathering from all points in the global economy, there is absolutely no reason to stay in the casino.