Today in #TheLabReport: Slashing the safety net, and more
One killed as protesters and police clash in Bahrain
RIP Roger Moore. The best Bond ever!
Islamic State claims responsibility for Manchester concert attack
Is a wave election forming for Democrats?
U.S. plan to sell oil reserve shows declining import needs
Elderly couple’s dead bodies eaten by pet dogs in #Mallorca #Lead #Mallorca
plans to strengthen network, raise new funds next year
Intel chief wont comment on whether Trump asked him to deny Russia investigation evidence
An MF Global/Corzine Story You Have Not Heard $
#EuropaLeague: Ajax youngsters look to upset more experienced Manchester United
Munich police crack gang behind up to fifth of all German burglaries
Is Cyril Hanouna the most unpleasant person on French television?
Police raid Daimler offices nationwide in emissions fraud probe
Brody Leven on finding solace among the challenges
Curses! Todays editorial cartoon by David Parkins. More cartoons: From @GlobeDebate
Protesters target MSNBC headquarters to support Lawrence ODonnell
You can buy a replica of Carl Sagans famous Pioneer Plaque
Ten Afghan soldiers killed in Kandahar army base attack
French VW probe identifies 22.78 billion euros in diesel sales: paper
Unstable #Venezuela Has 5,000 Russian Missiles, And They Could End Up in the Wrong Hands
. @ArianaGrande: the anodyne teen favourite hit by bombing tragedy
Solar-Friendly Florida Utility Hammers Trump On Coal Policy
You can send ThinkProgress information and tips securely on WhatsApp
Police raid Daimler offices nationwide in emissions fraud probe.
New Home Sales decrease to 569,000 Annual Rate in April
Charlene Barshefsky, America’s top trade negotiator in 2001 talks about China today
Canadas North West Mounted Police was established by Queen Victoria on 23 May 1873.
Happy world trade week!
Where you can make the most money renting your stuff @melodyhahm
This cant be shared enough. #gorsuch #SCOTUS
Inflatable Greenhouse From NASA Could Feed Astronauts on Mars - Via @CollectiveEvol -
Trumps education budget takes aim at the working class, @aliaemily reports
Experts say Trump’s speech deterioration is a clear sign of early dementia
JUST IN: Rubio is not optimistic about Trumps plan for Middle East peace
Renting out space in your home: Is the stress worth it?
Gay Men Publicly Caned in Indonesia
Portuguese minister: Southern cities better placed to host medicines agency
Live from the European Business Summit
House of Cards actress on Trump: I am shocked every morning
PETITION: Tell advertisers to boycott LBC until they sack Katie Hopkins #Manchester
U.S. new-home sales fall more than forecast via @mljamrisko
Sino-American Interests Aligning on N Korea, OBOR and the S China Sea @LinkedIn
Abigail Johnson of @Fidelity on the difficulties of using bitcoin. But not giving up. #consensus2017 @coindesk
US intel chief: No confirmation ISIS was behind Manchester attack
Five of the best installations to see at this years Clerkenwell Design Week:
ADB Sells $46 Million Green Bonds To Fund Renewable Energy Projects In India
lol
How concert venues keep fans safe
Seoul’s new High Line acts like a plant nursery for the rest of the city
.@Fidelitys Abby Johnson making pleas to #bitcoin community. Listen up #Consensus2017, heres your biggest advocate
Longest-serving James Bond star Roger Moore dies at 89
Still one of my favourite Twitter moments. RIP Roger Moore.
Are you middle class in Western Europe? Try our country-by-country income calculators
The 35 worst celebrity Photoshop fails of all time
Dem senator: Manchester attack shows importance of CIA and intel community
Manchester: This is the scene of the suspected attack–the worst on British soil since 2005
Threaten our way of life? The terrorists have barely made a dent
Alex Jones criticizes “liberal trendies” who were victims of the Manchester terror attack
Pensions Gone Wild! Chicago Teachers Pension Fund Paid Out $1.5 Billion in ’16, Earned…
Stocks of homebuilders tank on 11% mm drop in April sales $LEN $PHM $DHI $MHT $HOV $CAA
President Trump’s proposed budget seeks cuts to taxes, Medicaid, food stamps via @WSJ
#Indonesia: Aceh publicly shames couple for gay sex
Hackers unlock Samsung Galaxy S8 with fake iris
Canada’s prison agency closes in on new solitary confinement rules From @Nut_Graf
This is good news! Top trends for business as focus on #wellbeing gathers steam.
A VFX artist couple shot an amazing DIY fantasy film in their own home:
Federal Election Commissioner calls for expanded Trump-Russia investigation:
Bank of England Governor tricked by email prankster who conned Barclays boss Jes Staley
The UN Global Compact Cities Program for Sustainable Cities
Republicans in red states are panicked over upcoming elections — thanks to Donald Trump
Noble Group `fighting for its life as SP sees default risk
@PeopleinMind @30percentclubIE #30pcopenminds great agenda for today at BBH @SMTuffy
Former #JamesBond star Roger Moore dies aged 89
This is Fleet Week
62% of Americans now hold a favorable view of #NATO, up from just over half in 2016
Today! Dont miss our exclusive interview with PM @ComradeRalph streaming live on our FB!
South African Minister Grilled About Power Utility Heads Return #LynnBrown #BrianMolefe
Swiss National Bank pulling the plug on #NIRP. EuroSwiss monthly/weekly charts rolling over $ES1 Comdty $S_F $LU_F
Gas apocalypse looms amid a power plant construction boom
These new lenses could turn us all into tetrachromats — giving us super color vision:
In Home Capital’s mortgage mess, blame the ‘unlucky’ brokers #business
Sorry, but the Avocado Theory on why millennials are struggling is toast, writes @lloydalter
The Mick Mulvaney budget hits the Hill, @russellberman reports
So much for the Trump bump
CEOs of Target, ADM to square off on U.S. border tax at hearing
Trump budget asks for small fraction of funds needed for border wall
7. About half of people in Sweden support becoming a #NATO member
Cartoonists respond to the terror attack in #Manchester: w/ @vascogargalo @swahacartoons
Israel’s diverse religious landscape
Stuttgart prosecutors search Daimler offices in #dieselgate probe
How Google and Facebook drive internet traffic by topic
BREAKING: Fidelity CEO Talks Love For Bitcoin, Why Blockchain Will Change Markets
Is #Cybersecurity A Second Coming For #AI? #fintech @juliettesultan
1917: Mexico Faces Ruin as Strikes Spread
NEW POLL: Majority of voters disapprove of Trump decision to fire Comey
Rediscovered fossil suggests surprising origin for human ancestors From @ivansemeniuk
Join keynote speaker Craig Pirrong of @UHouston at FOW Trading Chicago this June
Roger Moore, the actor who held the James Bond role the longest, has died at 89
Germany is quietly building a European army.
#NATO Democrats more supportive of NATOas partisan gap widens
Lawrence O’Donnell’s Days at @MSNBC May be Numbered #tcot
The Nifty Inboard M1 Electric Skateboard
Apple and Nokia avoid court battle over patents
British combat airpower in the form of a Typhoon, Lightning and Tornado.
Mall troubles threaten a rite of passage: the teen job via @WSJ
Gay Couple Publicly Caned in Indonesia
Brazils latest political scandal is putting CEOs dreams in jeopardy
British James Bond actor Roger Moore has died, aged 89
The U.K. should publish a detailed list of Brexit priorities after the June vote, IoD says
Bank of England Governor, Mark Carney. Apparently is not up for the type of party I like to throw.
3. NATO solidarity is higher among people who consider Russia a major threat
#AI: When a robot AI doctor misdiagnoses you, whos to blame? — Quartz #News
Fox News employees disgusted after network pushes Seth Rich conspiracy
21 drivers arrested in Hong Kong in a fresh crackdown on Uber
Trump proposes selling off half the U.S. strategic oil reserve
BHP hires Barclays to divest U.S. shale gas assets: sources
LATEST: Former James Bond star Sir Roger Moore has died, his family says
#SouthAfricas rand firms on rumours that ANC to discuss Zumas removal
Blood donor centres inundated with people helping any way they can after Manchester attack
The horror of an attack targeting young women and children, by @sophieGG
Zuma Banned from Speaking at South African Trade Unions Events #SouthAfrica
Three upcoming House elections will test whether Trump is hurting Republicans
Election paused after Manchester attack - @GaryGibbonBlog writes:
Business lessons anyone can learn, from the founder of Nike
EURUSD - get out while you still can!
Blood donor centres inundated with people helping any way they can after Manchester attack
James Bond actor Sir Roger Moore dies, aged 89
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Majority of Americans oppose funding Trump’s border wall
Coffee Tim tams - true Aussie style at #consensus2017 @Austrade
This is the first all-female panel Ive moderated in my life - @schaeferdaniel at #wfs2017
Ready for Coachella
Zumas ousting will be raised at key ANC meeting, sources say
Matt Levines Money Stuff: Money Laundering and Quant Code
$EUR: market still an unbeliever in the European inflation story, seeing inflation 1% early 2018
Renegotiating Nafta might actually be a good idea
Greek debt deal is delayed as a 15-year extension fails to lure the IMF
N + E + W =
India plans to expand its drug regulator
Hoping for a Child Who Survives: #Sudan
A guide to $400 billion in Saudi-U.S. deals
Do you regret not saving enough for retirement? Youre not alone
G7 leaders expect Trump to make a decision on the Paris accord this week
Trump budget would cut $610 billion from Medicaid despite pledge not to touch program:
Trumps no help in recruiting Silicon Valley techies for U.S. work
Lululemon is in talks to fill Sephoras 5th avenue vacancy, sources say
OPEC set to prolong oil cuts as delegates predict smooth meeting
Paytm launches niche bank, to offer interest of 4 pct a year on savings accounts
Centrism takes on the extremes. @Noahpinion makes the case for neoliberalism via @BV
Stephen Colbert Mocks Trump with Side-by-Side Comparison to Obamas Scandals
Centrism takes on the extremes. @Noahpinion makes the case for neoliberalism via @BV
NICER: Launching Soon to the Space Station
Sir Roger Moores family says he had a short battle with cancer before his death aged 89
Really too young to drink. 2014 will need time. But this is classic Zingy puligny Montrachet village app.
Manchester Arena: Weve been inspired by the way the people of Manchester rallied round
Top Clinton aide: Trump adopted most of Putins foreign policy
Chinese backlash over US graduation speech, Cannes ‘flag’ dress
NEW: NATO’s Image Improves on Both Sides of Atlantic
NEW: NATO’s Image Improves on Both Sides of Atlantic
Tesla earns back some points from @ConsumerReports with its automatic emergency braking
America’s cities are running out of room via @business
Toyota CEO Sounds Ambivalent About EVs, But EV Plans Still On Track
#Manchester suicide bombing lays bare the limits of high security measures
Instagram rolled out a location Stories feature, just like Snapchat’s
Kenyan medics say US health aid cuts will mean more abortions
#UnitedStates New Home Sales at 569K
Top on #tiajobs today: Frontend Web Developer at BandLab
Caution pervades ahead of Polozs rate decision
White House affirms President Trump is in Jerusalem, Israel. (Tillerson be damned.)
Woman asked the City Council to ban the wearing of shorts in public, Fort Worth, Texas, May 1952.
Who are the victims of the Manchester terror attack?
GRAD missiles hit Kolosova street in Avdiivka. No casualties via @rechnikato
Tzanakopoulos says Greece can get clear deal at June Eurogroup
Greek stocks slide, yields spike after hopes for debt deal dashed
In the footsteps of Leonidas
Signs of unity across #Manchester today after last nights horrific attack. #ManchesterBombing
An Odd Symmetry: Argentina After Dark #NASA
North central Melbourne is becoming a test bed for smart, integrated transport
#UnitedStates Richmond @federalreserve Manufacturing Index at 1
Donald Trump’s Muslim tolerance only extends to tyrants.
Tipping point for Apple Pay as majority of UK tills accept limitless payments @telegraphtech
Mexicos staffing levels continue to fall in May. #SMI
#Fintech revolution will ‘create’ more #jobs than it cuts @StuartSFarquhar @TheScotsman
Russia’s hearts-and-minds campaign in Syria is aimed at Muslims at home.
Trump (accidentally) makes Corsica Italian again
Trump administration requests $1.6 million for bricks and mortar for border wall
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It was the best of times, it was the worst of times $
Toronto police invited to march in uniform in New York City pride parade
Topps Tiles shares on the slide after housing market hits profits
11 judges will soon decide the fate of a polarizing US agency
PPG boss still wants to negotiate AkzoNobel takeover despite three failed bids
BTFD FTW. While not obvious on the surface, these markets are very weird, says BofA.
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Mueller reviewed private Comey memos on Trump: report
Yorgos Lanthimos at Cannes: ‘The Killing of a Sacred Deer’
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Smoke of the clashes near Avdiivka via @LuftGanza
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African-American Caucus leader: Why was Maxine Waters speech cut off?
Pakistan spokesman on ICJ ruling in The Hague
Rouhani and Raisi supporters rally in Tehran
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NASA replaces a critical computer on the ISS during emergency spacewalk
Former James Bond star Roger Moore dies after battle with cancer
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[no comment] Bullfighting Banderas hits the catwalk in Cannes
South Africas Zuma Questioned on Nkandla, Intelligence Report #SouthAfrica
RIP
Amnesty International: Qatar is still abusing World Cup workers.
Google AI beats Chinese master in ancient game of Go
Fantastic work by #Newsround. They should just take over the rolling coverage:
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Badass with a sense of humor. RIP Mr. Moore
Ada Tsang, Hong Kongs first woman to conquer #Everest, is safe at base camp
Supreme Court strikes down North Carolinas racial gerrymander
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Queen Elizabeth responds to Manchester attack: An act of barbarity
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Job of the day from @dezeenjobs is for a sales manager for Lee Broom:
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National Endowment for the Humanities chairman announces resignation
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Ice Tunnel, Tarfala Valley, Sweden
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Us old folks remember when cov-lite was not the norm in markets... Moodys:
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21 #Uber drivers in #HongKong arrested for illegal driving
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Roger Moore who played James Bond 007 dead at 89
May 23, 1917 - New York Times: Austria to offer Russia attractive peace terms #100yearsago


Tyler Durden
A Confused Trader Discusses The VIX And Markets With His Taxi Driver
7 days ago




From "Blain’s Morning Porridge – May 16th 2017" by Bill Blain of Mint Partners

      “Now all them things that seemed so important, well mister, they vanished right into the air….”

I’ve been very fortunate this morning to spend 30 minutes in the company of perhaps the wisest man in the whole of London. Stuck in traffic on the way back from the West End, I discovered my mini-cab driver has a better approach and strategy for dealing with the daily misery that is modern life than any investment professional I’ve ever met.

His advice included smiling nicely at other drivers cutting him up, letting politicians get on with it – in the long run they don’t really matter - and investing only in companies where he understands exactly what they do and why. He also let me in on the secret of Nigella seeds – apparently they cure everything from toothache to the SNP. I shall try them later!

He really should be driving a desk in a psychotherapy ward or as CIO of a massively large investment firm.

I took the opportunity to unburden myself of my current concerns on markets. I explained my fears about the low level of the VIX and the complacency that seems to dominate market thinking. I fretted how financial asset prices keep head remorselessly higher with no rhyme or reason. It seems nothing: not a China slowdown, the declining oil outlook or the political stramash that passes for law-making in Washington/London/Berlin, is able to slow the irresistible rise and asset-inflation in markets.

He politely listened. Nodded his head. He suggested a nice cup of coffee or tea and some Nigella Seeds.

A smart man indeed.  

So how to cope with these markets?

It’s easy to miss the Forest among all these trees. A veritable deluge of new supply in the bond market with just about everyone from France to Slovenia launching new deals. Since there is minimal liquidity in any deal more than a few days in secondary, everyone is piling into new bonds. Spreads continue to grind tighter.

If someone can explain to me why High Yield bond indexes are within a gnat’s chuff of all-time highs, I would love to understand…

My chums on the emerging markets desk tell me the place to be is Greece. (What??? Whoever could possibly have imagined that at some point we’d actually be telling folk Greece makes sense.. but, such is the wonder of this modern age.) The GGB strip market has been trading higher and higher, indicating the market anticipates a good conclusion to the current discussions. Moreover, Moodys has maintained a stable outlook on Greek banks and improving profitability. Have I been missing something? Sounds like I have…

If Greece, or other EM themes are markets you have been looking at, let me put you in touch with the EM team. They produce an excellent daily EM summary – if you want added to the distribution let me know!

As for Europe, I really can’t understand all the positivity – which means I’ve been missing an open goal. I’ve been reading stories about how undervalued European stocks are, how the French economy now looks so positive under the new president Macron, and not a tale on Bloomberg about how money invested into the iShares Core MSCI Europe ETF is up 155% since December! What did they spot that I missed? The similar, and more liquid Vanguard FTSE Europe ETF is only up 14%. Both funds are up 21% in value this year.

Both ETFs have boomed on the basis of a general upgrade on Europe as expectations of recovery have grown.

Have they?

What’s improved? Less political threat now that France is behind us? Huh, don’t believe it. Although I do note Macron has started well – his first act as French president being to go pay homage to Merkel. But I really can’t argue with the reality of European markets higher.. Doesn’t mean I understand it though..