09Feb2016 Pre-Market Commentary: SPY Down 1.7%, Markets Headed For Another Ugly Session As Major Test Of Support Is Underway, Possible Stocks Rebounding


Written by Gary

US stock future indexes seem to be looking towards a depressing trading day as Japan decided to make headlines, marking the first time a G7 nation's 10-year yields have turned negative. Investors are looking to seek safer assets as crude looks to slide further. Red Volume today might tell if we have stalled and are about to climb higher.

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What We Read Today 08 February 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Corporate Bond Market Liquidity Redux: More Price-Based Evidence - Part Three Of Eleven

from Liberty Street Economics

-- this post by Tobias Adrian, Michael Fleming, Erik Vogt, and Zachary Wojtowicz

In a recent post, we presented some preliminary evidence suggesting that corporate bond market liquidity is ample. That evidence relied on bid-ask spread and price impact measures. The findings generated significant discussion, with some market participants wondering about the magnitudes of our estimates, their robustness, and whether such measures adequately capture recent changes in liquidity. In this post, we revisit these measures to more thoroughly document how they have varied over time and the importance of particular estimation approaches, trade size, trade frequency, and the dichotomy between investment-grade and high-yield bonds.

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Infographic Of The Day: The Volkswagen Emissions Scandal

In September 2015 the Volkswagen Group was found to have been cheating emissions tests by making it seem that certain cars produced far fewer emissions than was actually the case. The story broke when the US Environmental Agency discovered that many of Volkswagen's diesel cars emitted up to 40 times more fumes than the permitted limit. They achieved this through the installation of software (known as the 'defeat device'), which could sense it was running under test conditions and alter its performance accordingly.

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Video of the Day:

Strap yourself in and take a look at the view from the cockpit of a F/A-18 Super Hornet as it conducts some Low Level Maneuvers off an aircraft carrier. The aircraft carrier is the USS Enterprise (CVN 65). These Naval Aviators earn their flight pay when they are taking off and landing on a carrier deck. If you like this and need some more thrills watch this F-18 Low Level Flying VR-1251.

video of day picture

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Top Silver Mining CEO: Don't Laugh, We Could See 100 Dollar Plus Silver

 more opinion

That's Not The Devil, That's Real Money

Written by Joe Bongiovanni, Director, The Kettle Pond Institute for Debt-Free Money

Perhaps there were unintended consequences to Lord Adair Turner's post-crisis discovery of the deeply heterodox taboo of what today we call 'public money'. He continues to find something diabolical in the midst of public money, and I can't figure out why. He has given no reason.

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 USA economy at a glance (boxed items are updates in last 7 days)

January 2016 Small Business Optimism Index Declines

Written by Steven Hansen

The National Federation of Independent Business's (NFIB) optimism index fell 1.3 points to 93.9 in January as a result of two important Indices declining. The NFIB says the Index is well below the 42-year average of 98. The market was expecting the index between 93.8 to 95.6 with consensus at 94.9 - versus the actual at 93.9.

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