EDM Artist, Adrian Lux, Announces Upcoming ‘Make Out’ EP

first_imgAdrian Lux has just announced his new EP Make Out, set to be released on May 13th via Ultra Music. First single off the upcoming release is “Sooner or Later”, available today on Beatport. Take a listen to the first single below!Make Out has been receiving tons of recognition for his upcoming release, with Vice Thump stating, “hit-maker Adrian Lux is a tech house demigod, beloved for his nimble, light-footed approach to club music.”After making big moves into the new year, the Swedish Grammy nominated electronic music producer is showing no signs of stopping anytime soon. To gear up for the release of Make Out, Adrian Lux will be performing in Miami this weekend at No Sugar Added Festival as well as at some Miami Music Week parties including Mansion and Ferry Corsten’s Full-On Party.Adrian Lux is also set to begin touring across North America, with stops beginning in San Diego on Thursday March 27th in San Diego and continuing until mid-May with stops in Vegas, Houston, Vegas and more!For more information and upcoming releases and tour dates from Adrian Lux, be sure to visit www.adrianlux.com – and be on the lookout for more to come from this young and talented electronic music producer in the coming months as we head straight into summer festival.– Amanda Cowanlast_img read more

EB18: Schwalbe goes airless, adds more sizes & moto-style eMTB tires

first_imgSchwalbe’s 2019 collection sees a few new models, a few new sizes, more e-bike ready options, and their take on an airless, tubeless, flat-proof urban commuter tire. The biggest range of new things is on the mountain bike side, so we’ll start there…The Hans Dampf trail/enduro tires add a wider 29×2.6 option on the Evolution line (on left, it gets Snakeskin, TubelessEasy, Addix Speedgrip), and the Performance Line adds a smaller 24×2.35 for little shredders. That one gets their standard tubeless-ready casing with all purpose Addix compound. The entire Hans Dampf lineup got a slight compound refresh earlier this year, too.Announced in May, the completely redesigned Racing Ray and Racing Ralph become a dedicated front and rear pairing for XC racing. Check out our first ride review and all tech specs here. They’re available in 26/27.5/29 x 2.25, plus a 29×2.1.All new for e-Bikes are the new Eddy Current front and rear specific eMTB tires. They use a blocky tread design similar to motocross tires. That plus an Gravity casing and extra soft, grippy rubber helps handle the extra heft added by a battery and motor. They also match up with one of the trends we saw for e-mountain bikes: Mismatched tire sizes. The Eddy Current front is a 29er, available in 2.4 and 2.6 widths, while the Eddy Current rear is a 27.5×2.8.It’s not just these tires that are e-Bike ready. Virtually every model shown in this story has an e-rated equivalent with higher speed ratings, or is simply e-certified for the lower 25km/h rating even in its standard casing and construction.But when you want a dedicated e-bike tire for fast, racing road bikes, the new E-One gets the highest 50km/h speed rating. It comes in 700×28 and 700×32 and uses their V-Guard for upper mid-level puncture protection.For roadies on a bit more of a budget, the new One takes the same overall design as their higher end Pro One, but sticks with a standard Performance line construction. Which, honestly, isn’t all that standard…it’s still Tubeless Easy and has a V-Guard puncture protection, and gets a dual compound construction. It’s available in all black, along with blue, white and red striped sidewall options.For touring bikes and commuters, the new Energizer Plus comes in 28×2.0 and 28×1.5 (aka 700c standard road wheel size, aka 622mm). They get their 3mm thick Green Guard puncture protection and Schwalbe’s newer Addix E-Compound rubber to maximize both durability and grip at high speed. Yes, they’re optimized for e-bikes with a 50km/h speed rating, but should also work great for human-powered bikes wanting a bombproof tire.Or, opt for the new Urban Airless System tire, which pretty much can’t go flat thanks to their new expanded foam liner. The material is an “extremely elastic thermoplastic” that lasts for up to 10,000km of riding and feels like a tire inflated to 3.5bar (~51psi). The important thing is, they say, it feels like you’re riding on a real inner tube because it’s able to deform to smooth out the ride, but is physically incapable of flatting. Here’s the trick: It has to be installed by certified and trained dealers, because……it’s actually a multi-part system that needs a special machine to install it. The three-part system consists of the tire, the thermoplastic foam ring, and a blue Airless ring. The blue ring deforms and fills in the channel at the bottom of the rim to help the rest of the system fit properly. Initially it’ll only come in one size, with a 700×40 (~1.5″) for rims with an internal width of 19-21mm. The system will retail for €84.50 per wheel, and will only be available in Germany and The Netherlands at first.Schwalbe.comlast_img read more

Shots Fired during Shoplifting Incident

first_imgShots were fired by shoplifters and a customer at a Lowe’s Monday morning. Indianapolis Metropolitan Police Department officers were called to a Lowe’s store for a report of shots fired during a possible shoplifting incident. RTV6 News Stay UpdatedGet critical information for loss prevention professionals, security and retail management delivered right to your inbox.  Sign up nowlast_img

Michigan ~ Corporate Income Tax: Michigan Supreme Court Denies Review of Renaissance Zone Credit Case

first_imgCCH Tax Day ReportOn June 7, 2017, the Michigan Supreme Court issued an order denying an application for leave to appeal in Andersons Albion Ethanol, LLC v. Department of Treasury, Michigan Court of Appeals, No. 327855, September 13, 2016. (TAXDAY, 2016/09/15, S.4) The order states that the appeal was denied because the court was not persuaded that the questions presented should be reviewed by the Michigan Supreme Court. In Andersons Albion Ethanol, LLC v. Department of Treasury, the Michigan Court of Appeals reversed the Michigan Tax Tribunal and found for the Department of Treasury as to calculation of the renaissance zone tax credit for taxes paid under the Michigan Business Tax. At issue was the application of the formula in Sec. 208.1433(9)(f), M.C.L. when the payroll ratio in the numerator was 0/0. Under the Department’s interpretation of the statute, in this situation the undefined number should be removed from the formula. The taxpayer had relied on guidance from the Department that applied to a similar provision of the repealed Single Business Tax. The Court of Appeals found that the Departments’s interpretation did not conflict with the statute and that the Tax Tribunal lacked cogent reasons to have overturned it.Order 154907, Michigan Supreme Court, June 7, 2017last_img read more

10 months ago​Leicester loanee Slimani wants Istanbul switch

first_img​Leicester loanee Slimani wants Istanbul switchby Ansser Sadiq10 months agoSend to a friendShare the loveLeicester City loanee Islam Slimani wants to move to Besiktas.The striker is currently at Fenerbahce on loan, where he has not impressed. He only has three goals in 19 games.But his agent is trying to engineer a move to Besiktas, per Turkish outlet Fotospor.The issue is that Fener would have to pay a penalty clause to Leicester to terminate his loan midway through the season.And it is unclear if Besiktas are even willing to take on the player, who would command sizeable wages. TagsTransfersAbout the authorAnsser SadiqShare the loveHave your saylast_img

US Floridas governor signs bill allowing more armed teachers

first_imgFlorida: Republican Florida Governor Ron DeSantis has signed a bill that will allow more classroom teachers to carry guns in school, a response to last year’s mass shooting at a Parkland high school. DeSantis signed the bill in private Wednesday and issued no statement. It was one of the more contentious bills of a legislative session that ended Saturday. The measure expands an existing school “guardian” program and allows any teacher to volunteer to carry a weapon if their local school district approves. Also Read – Saudi Crown Prince Salman ‘snubbed’ Pak PM Imran, recalled his private jet from US: ReportVolunteers must undergo police-style training and a psychiatric evaluation. Under current law, only teachers who also have another role such as sports coach are eligible to carry weapons on campus. The bill makes other changes to a school safety law enacted after 17 people were killed in February 2018 at Marjory Stoneman Douglas High School. Recently, the three students who disarmed a gunman in a Colorado school shooting leapt up from their desks without a word and with no thought for their own safety when they spotted the gun, recounted one of the young men. Also Read – Iraq military admits ‘excessive force’ used in deadly protestsThey slammed the teenager, a classmate of theirs, against the wall and struggled with him when shots rang out. Kendrick Castillo, who led the charge, slumped to the ground. His close friend, Brendan Bialy, wrestled the gun away and called out to Castillo. There was no response, Bialy told a roomful of reporters on Wednesday as he recalled what happened the previous day at STEM School Highlands Ranch. “Kendrick went out as a hero,” Bialy said. “He was a foot away from the shooter and instead of running the opposite direction he ran toward it.” Authorities said the actions of Castillo, Bialy and Joshua Jones minimised the bloodshed from Tuesday’s attack at the school south of Denver that wounded eight students along with killing the 18-year-old Castillo. The injured includes Jones, who was shot twice, according to a statement released by his family. Bialy acknowledged that he was scared, but he said he wasn’t going to cower for shooters he repeatedly called cowards. “They lost,” he said of the shooters. “They completely and utterly lost to good people.” The attackers were identified by law enforcement officials as 18-year-old Devon Erickson and a 16-year-old who prosecutors identified as Maya McKinney but whose attorney said uses male pronouns and the name Alec.last_img read more

In This Issue FOMC taper decision rules marke

first_imgIn This Issue. * FOMC taper decision rules markets… * Euro-zone data pushes euro higher… * AUD falls but NZD set to rally… * Brazil’s central bank pledges support for the real… And, Now, Today’s Pfennig For Your Thoughts! Waiting on the FOMC taper decision… Good day. And welcome to another week. How was your Friday the 13th?  Mine was pretty uneventful but we had a busy weekend here in St. Louis as we worked over the weekend to get an upgrade installed on the computer system which tracks all of our World Market accounts.  The installation went off mostly without a hitch thanks to the hard work of our IT group, and I got out of here in time yesterday to go watch the St. Louis Rams beat up on the New Orleans Saints (a very surprising outcome!).  The direction of the dollar wasn’t much of a surprise overnight as it continued the slide it began on Friday.  The dollar started its slide Friday morning after the Producer Price numbers showed inflation remains in check.  The PPI MoM figure actually showed prices dropped .1% in November following a .2% drop in the previous month.  The YoY figure showed a slight increase, printing at a positive .7% rate, slightly lower than the expectations of a .8% increase. I know many of you Pfennig readers would argue the fact that the US economy is free from inflation and I would have to agree as my wife and I begin to realize the cost of sending our high school senior to college.  But the FOMC isn’t worried about the cost of college or healthcare; they focus on the ‘official’ numbers of CPI and PPI which do not currently reflect any inflation pressures. And the largest driver of inflation is typically wage pressure, something which doesn’t look like we are going to have to worry about for a while here in the US.  And this lack of inflation pressure is one of the reasons I believe the FOMC will hold off any tapering of their bond purchases until after the 1st quarter of 2014.  The direction of the dollar certainly suggests currency investors are starting to shift their expectations of a taper further out on the calendar.  The latest surveys show 34% of economists expect the Fed to begin to taper at this week’s meeting, with the largest majority looking for the taper to begin instead during the first meeting of 2014.  This week’s FOMC meeting will definitely be the primary focus of investors, overshadowing all other data releases here in the US.  These data releases include US PMI, Labor costs, TIC flows, and Capacity Utilization this morning, Inflation data in the form of CPI on Tuesday, and Housing starts and Building permits on Wednesday morning before the big FOMC announcement.  Following the announcement we will get the weekly jobs information on Thursday along with existing home sales data and Leading index.  And then we will close out the week with GDP for the 3rd quarter along with the KC manufacturing activity number.  A very busy week with the markets largely focused on Wednesday’s FOMC ‘taper’ decision. Even though they will be overshadowed by the FOMC decision, a few of the data points released this morning deserve some additional focus.  First the Nonfarm Productivity and US labor costs suggest wage inflation will remain subdued as productivity is expected to show a 2.8% increase in the 3rd quarter while Unit Labor costs are projected to have decreased 1.4% during the same period.  And the capacity utilization figure confirms that the labor market will continue to be ‘soft’ as it is expected to show just a slight increase at 78.4% during November compared to a 78.1% reading in the previous month.  The Capacity Utilization number is one which Chuck watches closely as it indicates how ‘tight’ our manufacturing sector is and just how much capacity is left in the current factories.  A reading below 80% suggests we still have some room to grow.  On the positive side, data from the Fed today is expected to show US Industrial Production rose .6% last month from October when it fell .1%; and a gauge of manufacturing in the New York region is expected to have advanced to a 3 month high.  With mixed data expected, the markets will should continue to drift until Wednesday’s FOMC announcement. Moving across the ‘pond’ data releases are being credited with driving the Euro higher this morning.  Euro-area factory output surprised economists, with the PMI figure increasing to 52.7 in December; almost a 3 year high.  That figure was significantly higher than November’s 51.6 reading and beat expectations of a level of 51.9.  This figure supports Chuck’s thoughts that the Euro-zone GDP will begin to gain momentum in 2014 which should continue to support the euro.  As I wrote in Friday’s Pfennig, many of the large currency desks believe the ECB will get more aggressive in their quantitative easing efforts next year, but we continue to believe they will instead keep a more hawkish tone.  Instead of flooding the markets with fresh liquidity, I believe the ECB will continue to ‘jawbone’ the markets; suggesting they will stand behind the euro but not taking any significant intervention in the markets.  The announcement by German Chancellor Angela Merkel of the names of her third term cabinet also helped push the euro higher.  These appointments confirm Merkel was able to successfully put a ruling coalition together and cements her parties control of the EU’s largest economy.  The ‘anchor’ of Merkel’s cabinet is Wolfgang Schaeuble who will continue to serve as Germany’s finance minister.  Merkel has confidence in her finance minister stating that “Wolfgang Schaeuble is somebody who is in favor of the stability of the euro and the policy connected with that for us in Europe” .  Merkel also suggested that she will not be in favor of creating any additional debt in steering the German economy stating “We will have the opportunity in the coming legislative period to come through without generating new debt as a contribution to generational justice.”  Those are some refreshing words to hear from a leader – worrying about the impact today’s spending has on our future generations.  We will get an initial indication of the opinion of German business leaders regarding the new/old leadership with the release of German business confidence on Wednesday.  The confidence figure is expected to be the highest in more than 1 ½ years according to the latest Bloomberg survey.  More good news for the euro going forward.  The pound sterling fell a bit on Friday and is one of only 4 major currencies which are down vs. the US$ during December.  UK inflation data which will be released tomorrow is expected to show inflation slowed to 2 percent last month, meeting the BOE’s target for the first time in four years.  This would take some pressure off BOE Governor Mark Carney to increase interest rates in order to combat price pressures.  This slower inflation has lowered interest rate expectations, putting some price pressure on the pound vs. the euro and US$. Norway’s krone strengthened vs. the US$ ahead of Wednesday’s FOMC meeting.  Both the NOK and AUD had been sold ahead of this week’s FOMC decision on tapering as investors increased bets on a December reduction in bond buying.  This sets the stage for a ‘relief rally’ in both of these currencies if/when the taper does not occur this week.  But unlike the NOK, the Aussie dollar has continued to fall ahead of the meeting.  The AUD dropped last week after the RBA Governor Stevens stated he would prefer to see the AUD trade down to .85, a drop of approximately 5% from its current level.  Minutes of the RBA’s last meeting will be released tomorrow, and will likely reflect Stevens’ commitment to reduce the value of the AUD in order to stimulate the economy through increased exports.  Again, there seems to have been a lot of AUD/US$ positioning ahead of the FOMC decision with the thought that the Fed will be tapering during their December meeting.  If the Fed does not taper their bond purchases this week, we could see this positioning reverse which would likely spike the AUD$ higher.  In a split with their ‘kissin cousins across the Tasman’, the New Zealand dollar has continued to increase.  Some of this strength was due to a report which showed Consumer Confidence in New Zealand rose to a 4 year high, coming in at a reading of 120.1 for the 4th quarter.  Another report showed the November Performance of Services index was 56.3 vs. a reading of 57.7 in October; but any reading above 50 indicates continued expansion.  Other data indicate that demand for labor is accelerating in New Zealand and could push the unemployment rate below 6% in the coming months.  The kiwi seems to have shaken off data which showed Chinese manufacturing may be slowing.  A preliminary reading of China’s PMI of manufacturing fell to 50.5 this month from 50.8 in November.  This reading was slightly lower than the 50.9 estimate by Bloomberg.  China is the largest trading partner for both New Zealand and Australia, with both of these countries relying on their raw material exports into the world’s second largest economy.  Investors were also worried by the Communist Party’s warning last week that the economy faces ‘downward pressure’ and another warning by central bank Governor Zhou Xiaochuan that borrowing costs may be ‘relatively high’ after interest rates are liberalized. A couple of popular emerging market currencies began to advance vs. the US$ as the Brazilian real and Indian rupee both moved higher.  Brazil’s real advanced after central bank President Alexandre Tombini reiterated the central banks commitment to extend intervention in the currency markets into 2014 to offset any possible ‘taper’ by the FOMC.  The emerging market currencies risk a fall if / when the FOMC tapers, as a taper would be seen as possibly reducing the amount of money available to these emerging economies.  Tombini has stated that the $60 billion intervention program announced in August to support the currency will be extended into next year.  The real may need the additional help this intervention provides, as data showed Brazil’s current account deficit rose to $82 billion in the 12 months ending October, 3.67% of GDP which is the widest since March of 2002.  To recap. The dollar continued to slide as the markets focus on the possibility of a taper by the FOMC on Wednesday.  The euro rallied after Euro factory output surprised on the upside and German Chancellor Merkel announced her new cabinet.  The pound fell a bit and the Norwegian krone gained vs. the US$.  The Aussie dollar remains under pressure but could rally if/when we do not get a taper by the FOMC.  And the kiwi, in contrast to the AUD moved higher in spite of a poor PMI reading out of China.  And some emerging market currencies rallied vs. the US$ but remain in a fragile position as the taper will dominate trading this week. Currencies today 12/16/13. American Style: A$ .8928, kiwi .8255, C$ .9443, euro 1.3785, sterling 1.6324, Swiss $1.1293. European Style: rand 10.268, krone 6.1320, SEK 6.5558, forint 218.06, zloty 3.029, koruna 19.988, RUB 32.85, yen 103.02, sing 1.2555, HKD 7.7536, INR 61.764, China 6.1124, pesos 12.9106, BRL 2.3270, Dollar Index 79.987, Oil $97.15, 10-year 2.8573%, Silver $19.48, Platinum $1.351.00, Palladium $713.20, and Gold. $1,229.71 That’s it for today.  An unbelievable Rams game yesterday; makes you wonder just where that team has been hiding!  I went down to the game with my mom and my niece who is home from college.  We had a great time watching the surprise victory!  A couple of you asked how I did on my weigh in on Friday – unfortunately I gained a pound but I wasn’t the only one on the desk who was in the plus column so I guess there is some comfort in not being the only gainer.  It is a long contest (90 days) and slow and steady will hopefully win the race.  I am running a bit late this Monday morning, so I will leave you with my hope that you all have a Magnificent Monday! Chris Gaffney, CFA Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

In This Issue   Currencies carve out tiny gain

first_imgIn This Issue. *  Currencies carve out tiny gains. *  Oil and Treasury yields drop! *  Remembering Richard Nixon. *  Putin tries to calm nerves. And Now. Today’s A Pfennig For Your Thoughts. It’s All About The U.S. Data Cupboard today. Good Day! .  And a Happy Friday to one and all! And to my good friend and colleague, April Showers, today is a 10! This is supposed to be the last day of dry weather here in St. Louis for the next week, so we had better get out, enjoy the sun, and have a Fantastico Friday! I’m going to meet one of my fave people for lunch today, and then it will be time to get the wheels in motion on my Fantastico Friday!  Thanks to everyone who sent along ideas on how to relieve the pain and stiffness quickly in my neck and shoulder. It’s much better today, and so, I’m hoping that by tomorrow, it’s all gone! What a difference a day makes. Only 24 hours.  (got you singing didn’t I?) Well, the currencies and metals are for the most part sitting with tiny gains VS the dollar this morning, but those gains are so tiny, they could be wiped out in a heartbeat, so let’s just call this a flat morning, and look forward to some movement as the day goes on. It is the Dog Days of Summer, and schools are starting again, and traders and investors normally don’t have their eye on the ball at this time, and the markets drift. That’s basically what was going on all week, as every day I would say, the currencies are mixed today. The currencies will probably end up the week today, mixed. It’s just the trading pattern we’re in right now. I was doing some reading yesterday and came across a research report on the Canadian dollar / loonie. Basically the thought was that the loonie was insulated from the geopolitical problems… Hmmm, I guess when you get right down to the facts, it is. But that’s taking a purely pro-loonie stance. I’ve long been enamored with the loonie, basically for the raw materials they have in abundance, and to me, a country that has “something” that other countries want and need, is a country that will always have a currency that is well underpinned. But I do realize that there are times when a currency is weak for a fundamental reason. In Canada, it was about 14 years ago, when the loonie was very weak, around 65-cents (it’s 91-cents today). But that was before the Commodity Bull Market began its strong trend. So, if the Commodity Bull Market still has legs to run, then the loonie should remain underpinned. And if it’s insulated from geopolitical problems that’s just gravy. So. How about that for starters this morning? Of course, you couldn’t tell it, but I even stopped in the middle of that epistle on Canada and the loonie, to sing along with the Temptations, and their song: The way you do the things you do!  You’ve got a smile so bright, you know you could have been a candle, and I’m holding you so tight, you could have been a handle! Sorry. but that’s my fave Temptations song. Well, all it took was for me to comment about how the price of Oil and the yield on the 10-year Treasury was stuck in the mud, to get them going again! They say that there are signs that demand for Oil is slowing, and that has pushed the Bubbling crude, Black Gold, Texas Tea, down $2 to $95 and change this morning.   And the 10-year dropped back below 2.40%… You know, as long as these knuckleheads in the bonds are going to push yields down, if you haven’t done the change in your mortgage by now, this is a flashing blue-light special! I’m just saying. If you think the U.S. Treasury yields are low. Get a load of this. The German Gov’t Bond 10-year yield fell below 1% yesterday. This is the first time EVER the German 10-year Bund, has a yield below 1%… So, bonds have always been the go to investment when things are dark in an economy. Keeping that in mind, it makes some sense that German Bund yields have dropped so low. Recall, I told you yesterday, that German 2nd QTR GDP contracted.  But, if we carry that same thought about bonds (bunds in Germany) across the Atlantic, and apply it to U.S. Treasuries. what’s so dark about the U.S. economy that would warrant a 2.39% yield in the 10-year? I mean, the authorities keep telling us that the all’s well in the U.S. right?  I say hogwash! For if that were true, we wouldn’t have zero interest rates, and a 2.39% yield on the 10-year Treasury!  These are hard facts folks. not the stuff that the BLS spits out at us, and the thing that scares the bejeebers out of me, is that we’re going to keep rates so low for too long. And when the back side of the hurricane hits us. I guess investors are all from Missouri, and have to be shown before they do something to protect their investment portfolios, from further potential downside risks to the dollar. I’m sure glad I’m from Missouri, because I was shown this need a long, long time ago! I hear you saying, but Chuck, you’ve told us the weak dollar trend began 12 years ago. That’s not a “long, long time ago”! Ahhh grasshopper. Yes, the current weak dollar trend began 12 years ago, but the first weak dollar trend began after President Richard Nixon removed the Gold backing from the dollar on August 15, 1971. Whoa! Looky there!  The “temporary suspension of Gold as backing to the dollar”, per Nixon, began 43 years ago! ( I used my old, new math skills to figure that out! HA!). Yes, while the dollar has had a couple of multi-year strong trends in the past 43 years, the dollar never recovered what it had lost in the previous weak trend, thus in reality, the dollar has been losing ground for the past 43 years!  And if you want to get technical about the whole dollar value loss, you probably could go back to 1913. The year the Fed was created. Not that I’m saying the Fed has had anything to do with the dollar’s losses. HA! Did you know that when Nixon made his “temporary suspension” of the Bretton Woods Agreement that Gold would back currencies around the world, the Gold standard didn’t die right then and there. No it took 4 years before the Gold Standard / Bretton Woods was euthanized. But the dollar immediately began to lose ground which is exactly what Nixon wanted it to do, for he had tons of debt left over from President Johnson’s great society, and Vietnam War, and needed to print dollars and get them weaker to pay down loans with cheaper dollars. Whoa there Partner! Isn’t that the same darn thing we’re doing again now? You bet your sweet bippie it is! But only now we’re talking about Trillions in debt, and Nixon only had a couple of Billion to deal with. But back in the early 70’s that was not what the U.S. was all about, debt. it was a creditor nation. And Nixon had to deal with Johnson’s debts.  Hey! I’m not saying that Nixon is absolved from all the things he did. But one thing that he did, I hold in high esteem. He ended the Vietnam War. Which if you recall, I was a young man at that time, and exposed to the birthday lottery draft. I was also a long-haired hippie freak playing my guitar around the country. So you see why that was important to me. Of course I would have gone if I were drafted. I was no draft dodger, just a young man that didn’t understand what we were fighting for. And of course, the actual Vietnam War didn’t end, the North and South kept fighting, just without the U.S. Whoa! There you have a little history lesson today. I wonder how many of those I’ve written about over the years?  I should have a teaching degree, don’t you think? HA! My friend that’s a professor of economics at a local University, always tells me she’s working on an honorary degree in economics for me. I think she just tells me that to keep me from badgering her! Man, I’ve carried on about a lot of stuff this morning, eh? And not one mention of individual currencies and metals. Well, that’s because I covered it all at the top! They are all, for the most part, holding tiny gains VS the dollar this morning. The general theme in the currencies yesterday was that the high yielders held gains, currencies like: Aussie dollars (A$), kiwi, rubles, rands, and reals. Overnight, kiwi is the only one of the high yielders that has dropped back.. Yesterday kiwi traded up to .8515, but this morning it’s .8495.  But there’s nothing to report from New Zealand, as to the reason for the pullback, albeit a small one.. Gold is down a buck this morning, so let’s call that flat! There were some calming words from Russian President, Putin yesterday, calling for a “consolidation of the people not for the sake of any wars or conflict but for an industrious labor force for Russia and in Russia’s name.”   He also said, “We have to develop our country with calm, dignity and efficiency, without barricading ourselves from the outer world or breaking ties with partners, but also without allowing anyone to treat us with disrespect.”   Sounds like he’s trying to mend fences. but do so, with a strong hand, so there’s no idea that he’s weak.   And this speech I think is what has kept Gold under wraps yesterday and so far today.  Now, I could get really snarky here with comparisons, but I would get my hands slapped, and this is a Friday! Time to be Happy! Don’t Worry, Be Happy! Today, will be a very busy day on the data front, with a plethora of data to print here in the U.S. and a recalculated jobs report in Canada, and a Fed speaker. So, let’s not dawdle and head to the Data Cupboard! The U.S. Data Cupboard yesterday, had a rotten Weekly Initial Jobless Claims for last week, with the report showing that jobless claims rose 24,000 last week, back above 300,000. So much for all the back slapping that went on by authorities last week when the claims fell below 300,000. The Data Cupboard today is chock-full-o-data. We’ll start the day with the Empire Manufacturing Index (NY region), this data is always volatile, so remember that. We’ll move on to the second course of July PPI (wholesale inflation), the next course will be the Net TIC FLOWS. you know the net purchases of securities by foreigners, which hasn’t been very strong lately. The next course will have two of my fave data prints: Industrial Production and Capacity Utilization. Both of these have been laggards this year, and another reason I hang my hat on the thought that the U.S. economy is going nowhere. Then for dessert we’ll see the U. of Michigan Confidence report, which is expected to rise, and why not? The Bernanke asset Bubble is still going strong, waiting for a pin to appear in the room, and create the Minsky Moment for stocks. For What It’s Worth.  Well, this is much like remembering to close the barn door after the cows are scattered about the yard. But that’s exactly what the SEC is doing here. Hey! At least there are rules now! I’ll give them that! And to their credit, who would have thought that ratings agencies needed rules?  This was in the Wall Street Journal this morning.. “Credit-ratings firms may soon face tougher restrictions aimed at preventing a repeat of the financial crisis. The Securities and Exchange Commission is expected as early as this month to finalize new rules meant to better police the industry, according to people familiar with the process. The effort follows criticism that ratings firms failed to adequately sound alarms about flawed mortgage securities ahead of the housing meltdown. The rules, expected to be somewhat tougher than those proposed more than three years ago, will take additional steps to ensure that the firms’ interest in winning business doesn’t affect ratings analysis, said the people familiar with the process. Credit raters have been lambasted by critics and lawmakers over their actions in the run-up to the 2008 financial crisis. A 2011 U.S. congressional report cited widespread and sudden downgrades of mortgage-related bonds as being perhaps “more than any other single event … the immediate trigger for the financial crisis.” The bonds had previously been given top-notch ratings by the firms.” Chuck again. Long time readers know that I have placed a ton of blame for the financial meltdown on the ratings agencies and the regulators. I’ve always contended that we didn’t need additional rules, we simply needed to enforce the rules we had!  Ratings agencies have acknowledged that they didn’t full anticipate the events of the financial meltdown. Well, that’s all fine and good now, but that has nothing to do with these agencies doing whatever was needed to win business, and that was just plain wrong. To recap. It’s a quiet day so far, but that won’t last, as the U.S. Data Cupboard is chock-full-o-data today, and Canada’s V2 on jobs will print. The currencies have carved out tiny gains VS the dollar this morning for the most part, and Gold is flat. Today marks the 43rd anniversary of Nixon’s “temporary suspension” of the Gold backing to the dollar.  I had to stop to sing along with the Searchers singing: Love Potion Number 9!  Ok, I’m back now. But that’s about all there is today, it’s all about the data that will print today. Currencies today 8/15/14. American Style: A$ .9325, kiwi .8497, C$ .9175, euro 1.3390, sterling 1.6690, Swiss $1.1055, . European Style: rand 10.5360, krone 6.1395, SEK 6.8390, forint 233.70, zloty 3.1235, koruna 20.8135, RUB 35.96, yen 102.60, sing 1.2440, HKD 7.7505, INR 60.76, China 6.1538, pesos 13.05, BRL 2.2660, Dollar Index 81.49, Oil $95.49, 10-year 2.39%, Silver $19.85, Platinum $1,461.13, Palladium $885.50, and Gold. $1,311.18 That’s it for today. Strange thing going on. the longer I sat here and typed the letter this morning, the more the pain in my neck and shoulder returned. Hmmm. I’m sitting up straight, and tall in the saddle, my posture is good. strange. Cardinals come home and win, that’s a good thing. And they hit a home run, which have been too far and few this year. I’m glad I wasn’t awake to see the 9th inning, as our closer unraveled, but was rescued by an out at home on throw from the outfield!  James Brown is singing Get on Up, and he just cracks me up sometimes. Can we hit it and quit, I said, can we hit it and quit?  HA!  Mike Meyer just sits at his desk when James Brown comes on the IPod, and shakes his head, as he prefers Led Zeppelin, and AC/ DC. But with me, you get it all! We’ll begin to gather Alex’s stuff this weekend, for his move-in next Wednesday. And then it will just be Chuck & Kathy at home, Chuck downstairs, and Kathy upstairs. Oh well. it happens to everyone eventually. And with that thought, it’s time to get off this bus, that has gone back to 1913 and 1971 today, and wish you a Fantastico Friday! Chuck Butler President EverBank World Marketslast_img read more