‘Nuns’ Campaign To Save Their Marijuana Crop

A ‘drafting error’ in California’s revision to its medicinal marijuana law could leave established growers like the “Sisters of the Valley” without a crop and out of business. Sister Kate and Sister Darcey from Merced in California have been producing salves and tonics made with cannabis. According to their website sistersofcbd.com, the sisters are not members of a religious order but they say they are on a spiritual quest to heal the sick with their medicinal cannabis cures. They have produced a variety of products made from the cannabinoids or CBD’s found in the marijuana.

Here Are The Key Findings From The SEC's ETFlash Crash Data Dump

Via FactSet's Director of ETFs, Dave Nadig,

This week, the SEC gave us a belated Christmas present.  But what does it actually portend?

The present in question is an 88-page "Research Note" from the SEC's Division of Trading and Markets titled "Equity Market Volatility on August 24, 2015." It's an innocuous-enough title, but for us market-structure wonks, it's kind of a big deal.

Atlanta Fed Just Slashed Q4 GDP Forecast To Barely Positive 0.7%, Down 1.2% In Ten Days

Just before the aborted Santa Rally took off in earnest, on December 23 the famous US economic growth prognosticators at the Atlanta Fed (famous because unlike Wall Street they actually are right) slashed its Q4 GDP forecast from 1.9% to 1.3% citing weakness in real consumer spending and poor existing-home sales.

European Stocks Suffer Worst Start To Year Ever

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

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