Frontrunning: July 28

Fed Officials May Offer More Clarity on Rates (WSJ)
Stocks rebound, shrugging off volatile and weak China (Reuters)
Three-Day Selloff Knocks 11% From China Shares (WSJ)
China shares fall again as Beijing scrambles to calm markets (Reuters)
VAT hikes to make Greek destination less popular (Kathimerini)
Varoufakis – Something is rotten with the eurozone’s hideous restrictions on sovereignty (FT)
EU denies Varoufakis ‘tax control’ claims (FT)
Allergan […]

A Desperate China Cuts Key Policy Rates After Stock Market Crash …

On May 10, China cut its benchmark lending rate for the third time since November. The move came just a few days after several brokerages tightened margin requirements, which triggered a 4% decline in Chinese stocks.At the time, we noted that the PBoC had done something similar not even a month prior, when in April, the central bank slashed the […]

Frontrunning: April 17

Fed Shies Away From June Rate Hike (Hilsenrath)
Europe Stocks Fall Most in Three Weeks Amid Greece as Banks Drop (BBG)
China Futures Tumble on Trust Curbs, Expansion of Short Selling (BBG)
Oil slips below $64 as ample supplies weigh (Reuters)
Fed officials lean all ways on rate hikes, data in focus (Reuters)
Eurozone deflation eases in March (FT)
U.K. Jobless Claims Hit 40-Year Low as […]

The Daily Startup: Allergen Research Raises $80M to Fight Peanut Allergies

Art by Mike LucasAllergen Research has raised $80 million to help tackle the problem of peanut allergies, Brian Gormley reports for Dow Jones VentureWire. The company is developing a  product that desensitizes patients so that accidental exposure to peanuts doesn’t cause a severe allergic response. Peanut allergy is one of the most common of food allergies, which affect 5% of children and 4% […]

History’s largest Circle Jerk

Since 2008, the ultra-wealthy have been bidding up their own assets, deluding themselves that the fabricated valuations they place on them are real.Momentum bubble visualized:Sales / Price: The amount of revenue for each dollar invested in stocks: from WSJ:One year ago, 41 private venture start-ups were valued at $1 billion or more. Now, 75 companies are valued above $1 billion. […]

Mark Cuban Warns: This Bubble Is Far Worse Than The Tech Bubble Of 2000

Just over a year ago, we warned that while the world of speculative capital is focused intently on the Twitter and Facebook #Ref/0 fundamental valuations in the publicly-traded equity markets, the real dot-com 2.0 bubble is occurring in the private markets. Few paid attention, prefering the head in the sand “well the music is still playing” meme; but one (or […]

Irrational Exuberance 2.0

Absolutely nothing has changed since I last wrote about this market in June of 2014. If you haven’t read it, you can read it here. The stock market bubble continues to grow, with new all time highs (ATH) being made daily, with no pullbacks, and extremely low volume. We rally on bad news and even higher on good news. Absolutely […]

Experts Take Stock of Insider Trading Ruling – Law Blog – WSJ

Jacob Gershman

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The court’s move to overturn convictions of Anthony Chiasson, left, and Todd Newman, right, comes as Michael Steinberg, center, plans to appeal his conviction on similar grounds.
From left: Bloomberg News; Associated Press; Bloomberg News
Manhattan U.S. Attorney Preet Bharara had enjoyed a nearly untarnished winning streak of insider-trading prosecutions since he took office in 2009, earning a reputation as Wall […]

Grand Central: Rising Dollar and Falling Oil Could Be Recipe for a U.S. Asset Boom

The Wall Street Journal’s Daily Report on Global Central Banks for Thursday, December 11, 2014:Sign up for the newsletter:’s Take: Rising Dollar and Falling Oil Could Be Recipe for a U.S. Asset Boom
Bank of Canada Says Housing Prices, Debt Pose Stability Risk
China Injects $65 Billion Into Banking System
Weak Demand for Loans Raises Hopes for ECB Stimulus
Russian Central Bank Raises Rates […]

Holder Cautions on Risk of Bias in Big Data Use in Criminal Justice …

Devlin Barrett

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Devlin Barrett


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Devlin Barrett

Associated Press
WASHINGTON—Attorney General Eric Holder warned Friday that a new generation of data-driven criminal justice programs could adversely affect poor and minority groups, saying such efforts need to be studied further before they are used to sentence suspects.In a speech in Philadelphia to a gathering of the National Association of Criminal Defense Lawyers, Mr. Holder cautioned that […]