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  1. phil

    Party poopers:

    High global corporate debt load sets stage for defaults: Moody's

    • A record number of highly leveraged non-financial companies worldwide likely will lead to a wave of defaults when the next period of broad economic stress occurs, according to a new report from Moody's Investors Service.
    • Even though the speculative-grade default rate remains low now, the non-financial corporate debt burden is now higher than the peak before the 2008-'09 financial crisis.
    • Companies with speculative-grade credit ratings now account for about 60% of all non-financial companies, Moody's says. Meanwhile, a majority of investment-grade companies are rated Baa, the lowest rung that's still considered investment grade.
    • The opportunity to borrow at low cost for mergers and acquisitions and to return capital to shareholders via dividends or share repurchases has proved irresistible for some investment-grade firms, leading some to adopt financial policy objectives that have led to lower ratings," says Mariarosa Verde, senior credit officer and author of the report.
    • Speculative-grade companies have about $3.7 trillion in rated debt outstanding, with B1 or lower rated debt accounting for about $2 trillion of this total, according to the credit ratings company.
    • Source: Press release.

    Japan's 2017 external assets fall, still biggest creditor nation

    • Japan's net external assets fell for a third straight year in 2017 to ¥328T as rises in gross overseas debt outpaced asset gains, though the country remained the biggest creditor nation for the 27th straight year.
    • Japan's gross external assets rose 2.7 percent to a record ¥1,012T as the increase in Japanese direct investment overseas and foreign stock investment more than offset drops in the appraised yen value of foreign currency-denominated assets.
    • The external debt grew 5.2% to ¥684T due to increased acquisitions of Japanese bonds by foreign investors and rises in Japanese share prices

    Brazil authorizes military to clear trucker protest; shares extend losses

    • Brazil's Pres. Temer has ordered the army to clear highways clogged by the continuing truckers strike that has disrupted food and fuel supplies throughout the country.
    • The government announced last night that it had reached a 15-day truce with the truckers in exchange for the elimination of a federal fuel tax and a diesel price freeze for at least 30 days, but Temer said a "radical minority" of truckers had not returned to work, prompting his decision.
    • No trucks reportedly have been able to enter the Santos port, halting soy exports, meat group ABPA said 152 poultry and pork processing plants had indefinitely suspended production, and gas stations ran out of fuel across the country.
    • Among major Brazilian shares in U.S. trading: CIG -3.8%VALE -3%BBD -2.9%ITUB-1.9%BSBR -1.7%EBR -1.6%PBR -1.4%VIV -0.5%.

    Total U.S. rig count surges by 13; oil rigs add 15 to highest since March 2015

    • The total U.S. rig count surges by 13 to 1,059 after gaining just one a week ago, according to the latest weekly survey from Baker Hughes.
    • Oil rigs jumped by 15 to 859, the highest since March 2015, while gas rigs fell by 2 to 198 and two rigs remained classified as miscellaneous.
    • Crude oil prices have been tanking today as Saudi Arabia and Russia appear to near an agreement to increase production; WTI now -4.2% to $67.74/bbl.

    Judge wants more info from big oil companies in climate change lawsuits

    • A federal judge yesterday said he needed more information before deciding whether to dismiss lawsuits by the cities of San Francisco and Oakland alleging that Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Royal Dutch Shell (RDS.ARDS.B), BP and ConocoPhillips (NYSE:COP) should pay to protect residents from the impacts of climate change.
    • The judge also wants the companies to produce additional material backing up claims that they should not be a part of the case because the court lacked jurisdiction over them.
    • The judge cited the beneficial role oil and gas production had played in the development of the U.S. but also said he remained open to the idea that some damages may have to be paid considering the potential harm of climate change.

    uters poll: Near one-in-three chance of U.S. recession in next two years

    • Reuters poll of economists expects nearly a one-in-three chance of a U.S. recession in the next two years citing concerns about an already-old business cycle, as well as rising interest rates and barriers to trade.
    • The U.S. economy is expected to average 2.8% in 2018, 2.5% in 2019 and 1.8% in 2020.
    • When asked about the likelihood of a U.S. recession over the next two year, the probability doubled to 31.0% with the most pessimistic call at 70%.
    • "The risk of a recession really picks up after a year, or sometime in 2020 because that is when you start to see the fiscal stimulus start to fade," said Joseph Song, senior U.S. economist at BofAML.

    GDPNow trims Q2 growth view on weaker existing-home sales

    • The Atlanta Fed tracker now sees Q2 real GDP growth at 4.0%, down from 4.1% on May 16.
    • The model cut Q2 real residential investment growth estimate to 1.1% from 5.4% after Thursday's existing-home sales release from the National Association of Realtors.
    • Previously: Existing home sales weaken in April (May 24)





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Phil's Favorites

A bee economist explains honey bees' vital role in growing tasty almonds

 

A bee economist explains honey bees' vital role in growing tasty almonds

A honey bee sniffs a cherry blossom. AP Photo/Patrick Pleul

Courtesy of Brittney Goodrich, Auburn University

It’s sometimes reported that one in every three bites of food depends on bees. As is often the case when an easy to grasp notion spreads, there’s a dose of truth and a dollop of exaggeration.

The stat is based on a ...



more from Ilene

Zero Hedge

Death Of A Nation: Drug Overdose Deaths Jump To Record 72,000 Last Year

Courtesy of ZeroHedge. View original post here.

The Centers for Disease Control (CDC) estimates drug overdose deaths based on a current flow of mortality data from the National Vital Statistics System has just reached a record of 71,568 Americans in 2017. That is a 6.6 percent jump in overdose deaths over 2016 and represents a rapid deterioration of America’s inner core: The middle class.

More than 40,000 Americans...



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Digital Currencies

Bitcoin's rollercoaster ride reflects the biggest issue facing cryptocurrencies: regulation

 

Bitcoin's rollercoaster ride reflects the biggest issue facing cryptocurrencies: regulation

Shutterstock

Courtesy of Brian Lucey, Trinity College Dublin and Shaen Corbet, Dublin City University

The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other...



more from Bitcoin

ValueWalk

The Top 10 Wildest Campaigns Of 2018: Starboard's Stake In Symantec

By ActivistInsight. Originally published at ValueWalk.

This week’s column is a continuation of our 10 “wildest campaigns” of 2018. Find the first part here.

Q2 hedge fund letters, conference, scoops etc

Free-Photos / PixabayTop 10 Wildest Campaigns Of 2018

5. How often does an activist win a proxy contest without support from either of the two main proxy advisory firms? (...



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Kimble Charting Solutions

Small Caps attempting 20-year breakout, says Joe Friday

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

The Russell 2000 trend remains solidly higher, as it has created a series of higher lows and higher highs inside of rising channel (1) over the past 25-years.

Small caps have been an upside leader in 2018, as they are very near all-time highs.

We applied Fibonacci extension levels to the 2007 highs and 2009 lows at each (2).

Joe Friday Just The Facts Ma’am- Small caps are attempting a dual breakout at (3). 

This is a price point that small-cap bulls would LOVE to see strength and a breakout take place, as monthly momentum is lofty.

...

more from Kimble C.S.

Insider Scoop

Walmart Posts Standout Quarter, But Raymond James Downgrades On Flipkart Costs

Courtesy of Benzinga.

Related WMT 10 Biggest Price Target Changes For Friday Headlights On Deere: Mixed Results As Company Cites H...

http://www.insidercow.com/ more from Insider

Biotech

Nanomedicine could revolutionise the way we treat TB. Here's how

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Nanomedicine could revolutionise the way we treat TB. Here's how

Nanomedicine could scupper the need for TB patients to take multiple daily tablets with toxic side effects. Daniel Irungu/EPA

Courtesy of Sarah D'Souza, University of the Western Cape and Admire Dube, University of the Western Cape

Tuberculosis is one of the world’s ...



more from Biotech

Chart School

Bitcoin Update - 6000 is support

Courtesy of Read the Ticker.

Demand shows it hand at support levels, well it obvious that $6000 BTCUSD is support so far.

More from RTT Tv , Ref: Brazil bitcoin currency , Brazil New Accounts
 


 

Main Chart in video



 

Sure fundamentals...



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Members' Corner

There Are 3 Main Theories That Explain Trump's Approach to Putin and Russia-Which One Makes the Most Sense?

What do you think?

Thom Hartmann suggests that the "Manchurian Candidate theory" is the least likely explanation for Trump's pro-Russia behavior in "There Are 3 Main Theories That Explain Trump’s Approach to Putin and Russia—Which One Makes the Most Sense?" (below).  disagrees and suggests that Putin probably has "the goods" on Trump in "Trump’s Plot Against America". (To be fair, Hartmann acknowledges that his three theories are not mutually exclusive.) Jonathan Chait argues ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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