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  • CEO Of Shale Giant: “No One Wants To Give Us Capital Because We Have All Destroyed Capital And Created Economic Waste”

    ZeroHedge - Apr 15th 2020 12:17pm EDT

    CEO Of Shale Giant: “No One Wants To Give Us Capital Because We Have All Destroyed Capital And Created Economic Waste” Authored by Josh Siegel and Abby Smith, from the Washington Examiner TEXAS DEBATES PRODUCTION CUTS: Texas can lead in producing a “real” U.S. oil production cut to save the shale industry, Scott Sheffield, CEO […]

  • “Overstated?” – Laying Out The Bullish & Bearish Stock Arguments From Here

    ZeroHedge - Apr 15th 2020 12:06pm EDT

    “Overstated?” – Laying Out The Bullish & Bearish Stock Arguments From Here The somewhat unprecedented bounce back in stocks – after the fastest collapse on record – has as many bulls as bears frothing at the bit to add to their positions one way or another as either “the buying opportunity of a lifetime” or […]

  • Frontier Agrees On Debt Restructuring, Files For Bankruptcy

    ZeroHedge - Apr 15th 2020 11:55am EDT

    Frontier Agrees On Debt Restructuring, Files For Bankruptcy Frontier Communications Corporation filed for bankruptcy on Tuesday night, as it has entered into a Restructuring Support Agreement (RSA) with bondholders representing 75% of the high-speed internet company’s $11 billion outstanding unsecured bonds. The company has spent the last months warning about its going concern and recently had discussions […]

  • Over 25% of Michigan Workforce Filed For Unemployment

    ZeroHedge - Apr 15th 2020 11:40am EDT

    Over 25% of Michigan Workforce Filed For Unemployment Authored by Mike Shedlock via MishTalk, Michigan is one of the hardest hit states when it comes to Covid19 layoffs. Let’s take a look at the stats. Michigan Live reports Over 1 Million Michigan Residents Have Filed for Unemployment. More than 1 million people – over a […]

  • AOC: ‘Let’s Talk About Joe Biden’s Sexual Assault Claim’

    ZeroHedge - Apr 15th 2020 11:25am EDT

    AOC: ‘Let’s Talk About Joe Biden’s Sexual Assault Claim’ Rep. Bernie Sanders (I-VT) may have sold out and endorsed a credibly accused sexual predator after his pie-eyed supporters emptied their pockets to chase a pipe dream, but fellow socialist Rep. Alexandria Ocasio-Cortez (D-NY), has not. On Tuesday, AOC opened the door to discussing a sexual […]

  • What Is The Stock Market Telling Us?

    ZeroHedge - Apr 15th 2020 11:11am EDT

    What Is The Stock Market Telling Us? Authored by Bill Blain via MorningPorridge.com, “Shoebox in middle of road? Luxury… You had it lucky..” What is the stock market telling us? It believes in the Central Bank Put….? It buys the story the recent slew of positively-trending Coronavirus numbers means a swift economic reopening and sharp […]

  • Bracing For Impact: US Banks Set Aside $27 Billion For Credit Losses From The Coronacession

    ZeroHedge - Apr 15th 2020 10:55am EDT

    Bracing For Impact: US Banks Set Aside $27 Billion For Credit Losses From The Coronacession According to Rabobank (paraphrasing the Simsons Cartoon Guy), this may be the worst recession ever, although judging by bank earnings – now that most big banks have already reported results – that realization will take some time to filter through. […]

  • Pentagon IG Strikes Blow To Amazon, Rules $10B Award To Microsoft Was Proper

    ZeroHedge - Apr 15th 2020 10:42am EDT

    Pentagon IG Strikes Blow To Amazon, Rules $10B Award To Microsoft Was Proper The Defense Department’s Inspector General dealt a blow to Amazon Wednesday, after finding that the Pentagon’s decision to award a $10 billion cloud-computing contract to Microsoft was proper, and “consistent with applicable acquisition standards.” What’s more, the IG found no evidence that […]

  • WTI Extends Losses Below $20 After Record Surge In Crude Inventories

    ZeroHedge - Apr 15th 2020 10:37am EDT

    WTI Extends Losses Below $20 After Record Surge In Crude Inventories WTI crashed below $20 (tagging $19.20) overnight after API reported huge inventory builds and was not helped by comments from the International Energy Agency that a historic production cut deal won’t be enough to counter a record demand slump this year. This appears to […]

  • BofA Shows How Consumer Spending Changed Every Day Over The Past Month

    ZeroHedge - Apr 15th 2020 10:29am EDT

    BofA Shows How Consumer Spending Changed Every Day Over The Past Month Earlier this morning, the Dept of Commerce reported that March retail sales saw the biggest sequential drop on record, and biggest annual decline since the financial crisis. Which was to be expected: with the US economy shutting down and Americans forced to isolate […]

  • Bank of Canada Announces Provincial, Corporate QE

    ZeroHedge - Apr 15th 2020 10:14am EDT

    Bank of Canada Announces Provincial, Corporate QE While the Bank of Canada kept its overnight rate at 0.25% as expected – as the alternative after three consecutive rate cuts would have been to cut below its effective lower bound of 0.25% and go NIRP – the central bank did surprise markets by joining the unprecedented […]

  • Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest In 5 Years

    ZeroHedge - Apr 15th 2020 10:05am EDT

    Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest In 5 Years While overall mortgage applications rose 7.3% week-over-week, thanks to a 10.1% surge in refinancings, the Mortgage Bankers Association report this week shows that home purchase applications have plunged to their lowest since 2015… Source: Bloomberg “The 30-year fixed mortgage rate decreased last […]

  • Gilead Shares Slide As China Cancels Another Remdesivir Study

    ZeroHedge - Apr 15th 2020 9:30am EDT

    Gilead Shares Slide As China Cancels Another Remdesivir Study Over the weekend, a headline out of mainland China caught our eye, even as it was seemingly ignored by the broader mainstream press: a day earlier, Gilead had announced that health authorities in Beijing had shuttered a trial of Gilead’s remdesivir, one of the earliest ‘miracle […]

  • US Industrial Production Crashes By Most Since End Of World War II

    ZeroHedge - Apr 15th 2020 9:21am EDT

    US Industrial Production Crashes By Most Since End Of World War II After surviving February (before COVID) with a modest MoM rise, US Industrial Production plunged 5.4% MoM (considerably worse than the 4.0% drop expected and the worst MoM since Jan 1946)… Also, after briefly turning positive YoY in February, March Industrial Production is down […]

  • Elizabeth Warren Endorses Biden

    ZeroHedge - Apr 15th 2020 9:12am EDT

    Elizabeth Warren Endorses Biden Sen. Elizabeth Warren (D-MA) has officially endorsed Joe Biden – tweeting her support along with a short video on Wednesday. “In this moment of crisis, it’s more important than ever that the next president restores Americans’ faith in good, effective government—and I’ve seen Joe Biden help our nation rebuild,” said Warren. […]

  • Retail Icon JC Penney Prepares To File For Bankruptcy Protection

    ZeroHedge - Apr 15th 2020 9:05am EDT

    Retail Icon JC Penney Prepares To File For Bankruptcy Protection Roughly one week after the first reports were published about the Plano Texas-based department store exploring a Chapter 11 filing surfaced, JC Penney is officially filing for bankruptcy, sending its battered shares sliding even lower. Reuters revealed late last night that a filing is imminent […]

  • US Answers China Provocations In Show of Force ‘Elephant Walk’ Of B-52 Bombers In Guam

    ZeroHedge - Apr 15th 2020 8:51am EDT

    US Answers China Provocations In Show of Force ‘Elephant Walk’ Of B-52 Bombers In Guam Days after China conducted a military drill with fighter jets and an aircraft carrier near Taiwan, the US Air Force conducted its own ‘show of force’ demonstrating defense readiness with an ‘elephant walk’ of bombers on Anderson Air Force Base in […]

  • Here Comes The Depression: Empire State Manufacturing Crashes Most Ever To -78, Lowest In History

    ZeroHedge - Apr 15th 2020 8:43am EDT

    Here Comes The Depression: Empire State Manufacturing Crashes Most Ever To -78, Lowest In History This is what a depression looks like. With Wall Street already expecting a catastrophic Empire Fed manufacturing index print of -35, just shy of the lows hit during the financial crisis, moments ago the NY Fed reported that New York […]

  • US Retail Sales Crash By Most Ever In March, Despite Hoarding

    ZeroHedge - Apr 15th 2020 8:39am EDT

    US Retail Sales Crash By Most Ever In March, Despite Hoarding While it is not entirely surprising given that practically all of America is under lockdown and the consumption-focused services sector is particularly distressed, US retail sales crashed 8.7% MoM in March (against expectations of a 8.0% drop) Source: Bloomberg Year-over-year, headline retail sales crashed […]

  • Luongo Rages: #FireFauci Should Be The Rallying Cry For A Generation

    ZeroHedge - Apr 15th 2020 8:29am EDT

    Luongo Rages: #FireFauci Should Be The Rallying Cry For A Generation Authored by Tom Luongo via Gold, Goats, ‘n Guns blog, I’m done mincing words. I’m done giving people the benefit of the doubt. Whenever I do that The Davos Crowd and their highly placed agents make me look like a virtue-signaling fool. Fire Anthony Fauci now. […]

  • BofA Profit Plunges 45% On $4.8 Billion In Expected Credit Losses From Coronacrisis

    ZeroHedge - Apr 15th 2020 8:18am EDT

    BofA Profit Plunges 45% On $4.8 Billion In Expected Credit Losses From Coronacrisis Bank of America joined JPMorgan and Wells Fargo in setting aside billions of dollars for upcoming loan losses as the bank braces for a surge in defaults and delinquencies on its loans amid the complete US economic shut down. The bank reports […]

  • Global Coronavirus Cases On The Cusp Of 2 Million; Critics Outraged As Trump Prints Name On Stimulus Checks: Live Updates

    ZeroHedge - Apr 15th 2020 8:01am EDT

    Global Coronavirus Cases On The Cusp Of 2 Million; Critics Outraged As Trump Prints Name On Stimulus Checks: Live Updates In a decision that is angering virtually all of his political opponents and even many of his supporters, who are bristling at the notion of a White House deliberately delaying badly needed checks, the Washington […]

  • Why Is Hunter Biden Still Listed As Board Member Of Chinese Company He Vowed To Resign From?

    ZeroHedge - Apr 15th 2020 7:55am EDT

    Why Is Hunter Biden Still Listed As Board Member Of Chinese Company He Vowed To Resign From? Hunter Biden is many things. Ukrainian energy expert, artist, stripper impregnator, crack aficionado. Oh, and he’s still a board member of a Chinese private equity firm he said he’d resign from last October, according to Chinese business records […]

  • Global Markets Tumble Amid Dismal Earnings After WTI Crashes To 18 Year Low

    ZeroHedge - Apr 15th 2020 7:34am EDT

    Global Markets Tumble Amid Dismal Earnings After WTI Crashes To 18 Year Low US index futures slumped on Wednesday for a second time this week, reversing Tuesday’s sharp gains after a plunge in oil prices pressured energy stocks ahead of what is expected to be a dismal round of first-quarter earnings reports. The dollar and […]

  • Cass Freight Index Showed Economic Weakness Way Before The Pandemic

    ZeroHedge - Apr 15th 2020 6:00am EDT

    Cass Freight Index Showed Economic Weakness Way Before The Pandemic Authored by Mike Shedlock via MishTalk, Numerous freight charts point to a weakening economy months before the coronavirus hit. I Hear the Train a Comin’ Covid19 will take all of the blame, but freight indicators show a recession was on the way even without that […]