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Dec 30, 2015

GATA | THE GATA DISPATCH on December 30, 2015: 3 Articles "The Silver Manifesto" Documents Manipulation of Gold and Silver Markets | Gold-Backed Digital Currency Ditches The Blockchain | World Gold Council Wants to Create Standard to Avoid Islamic Finance Disputes.

The Guardian | World | Australia | Royal Commission Into Trade Union Governance and Corruption - December 30, 2015: Malcolm Turnbull Willing to ‘Fight an Election’ on Industrial Relations.

theguardian.com

Malcolm Turnbull willing to ‘fight an election’ on industrial relations

Shalailah Medhora
 
The prime minister has vowed to curb the influence of trade unions by introducing two previously rejected bills, paving the way for the government to call a double dissolution election.

WSJ | Major Indexes Closing on December 30, 2015.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:45 p.m. EST 12/30/15

WSJ | Forex Closing on December 30, 2015:

The Wall Street Journal Forex Closing
Major Currencies
Wednesday, December 30, 2015

Dealbook - December 30, 2015: Puerto Rico Says It Will Default on Some Bonds

nytimes.com

Puerto Rico Says It Will Default on Some Bonds

Mary Williams Walsh
Alejandro Garcia Padilla, governor of Puerto Rico, in Washington this month. He said Wednesday that two groups of Puerto Rico's bondholders would be denied interest payments due to them Jan. 1. Sait Serkan Gurbuz/Associated Press
The governor of Puerto Rico said on Wednesday that two groups of its bondholders would be denied more than $35 million of interest due to them Jan. 1, but in fact the island was defaulting on a much larger sum.
In a briefing with journalists, Gov. Alejandro García Padilla said the government could not pay $35.9 million due to the holders of bonds issued by its Infrastructure Financing Authority, or $1.4 million due to holders of its Public Finance Corporation’s bonds. The money has been diverted to pay investors in Puerto Rico’s general obligation bonds, he said. General obligation bonds have a top priority under the Puerto Rican Constitution.
But in fact, Mr. Garcia Padilla said further, the island’s total bond default was much larger, roughly $163 million. That was because he had “clawed back” that much money from a variety of lower ranked bonds. The investors who hold those bonds will still receive the full amounts they expect on Jan. 1 because Puerto Rico had previously sent enough money to bond trustees to cover the imminent payments. Once money has been sent to a trustee it cannot be clawed back.
Even though the bondholders in this group will not feel any difference, their bonds will generally be considered in default because the flow of additional funds to the trustees has ceased. That means the number of bondholders who go unpaid is likely to grow in the coming months.
Mr. Garcia Padilla said that he had been forced to claw back money dedicated to pay debt service because Congress had failed to give the island access to an orderly restructuring process, such as Chapter 9 bankruptcy.

WSJ | Biggest Decliners Closing on December 30, 2015.

NYSE Biggest Percentage Decliners | Nasdaq | Arca | Composite
Wednesday, December 30, 2015 - 5:32 pm ET

WSJ | Most Actives Closing on December 30, 2015:

WSJ | Biggest Gainers Closing on December 30, 2015.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 12/30/2015
NYSE

FRB Press Release - December 30, 2015 - Federal Reserve Board Announces Approval of Application by Chemical Bank.

 

Press Release

Release Date: December 30, 2015

The Federal Reserve Board on Wednesday announced its approval of the application filed by Chemical Bank, Midland, Michigan, to establish a mobile branch in several counties in Michigan.

GATA I THE GATA DISPATCH on December 30, 2015 - The Final Days of The Bitcoin Foundation.

The final days of the Bitcoin Foundation?

Submitted by cpowell on December 30, 2015 By Olga Kharif
Bloomberg News
Wednesday, December 30, 2015

Bruce Fenton, executive director at the Bitcoin Foundation, opened its Dec. 15 board meeting with a sense of urgency: "We need additional funds if we wish to retain employees."
The numbers didn't look good. In two years the foundation had seen at least $7 million evaporate. As of Nov. 30 its total assets stood at $12,553.06.

CMI Spot Prices as of Close of Trading in New York on December 30, 2015.

CMI Gold & Sliver



Spot Prices as of traditional New York closing times

Wednesday, December 30, 2015


 

Wall Street at Close Report by CNBC on December 30, 2015.

cnbc.com

Dow Closes Down Triple Digits as Oil Slide Weighs

Evelyn Cheng
U.S. stocks closed lower Wednesday in low volume trade as a decline in oil prices weighed.
The Dow Jones industrial average ended down more than 110 points as selling accelerated into the close. The S&P 500 closed about 0.7 percent lower, clinging to a year-to-date gain of about 0.2 percent.
"The real story of the day is oil's down 3 percent and that's been weighing all day. Not much to be read into this light volume (trading session)," said Peter Coleman, head trader at Convergex.
Energy declined nearly 1.5 percent to lead most S&P 500 sectors lower in afternoon trade. Materials briefly fell 1 percent as the second-greatest laggard in afternoon trade.

European Markets at Close Report by CNBC on December 30, 20.

cnbc.com

Europe ends lower; oil slips 3%; Fingerprint triumphs

Holly Ellyatt, Alexandra Gibbs
European equities finished trade lower on Wednesday as investors fretted over renewed weakness in global commodity markets.

The pan-European Stoxx 600 index slipped to close down 0.4 percent with almost all sectors closing in negative territory.

The Guardian | World | U:S | U.S. Income Inequality - December 30, 2015: The Year of Fear: Republicans and Media Stocked Bigotry and Anxiety in 2015.

theguardian.com

The year of fear: Republicans and media stoked bigotry and anxiety in 2015

Chris McGreal
 
This was the year the threads came together.
Spectres of mass shootings, jihadis and immigrant hordes have grown to haunt parts of 21st century America as communists and the atom bomb once did. But each fear, rational or not, generally held its own as a distinct threat.

NYT First Draft on Politics - December 30, 2015: Goodbye, 2015, the Year Before the Campaign Storm.

Wednesday, December 30, 2015

The New York Times

NYTimes.com/FirstDraft »

The New York Times

Wednesday, December 30, 2015

Supporters of Senator Bernie Sanders of Vermont and Hillary Clinton before the Democratic debate this month in New Hampshire.
Supporters of Senator Bernie Sanders of Vermont and Hillary Clinton before the Democratic debate this month in New Hampshire. Gretche Ertl/Reuters
Goodbye, 2015, the Year Before the Campaign Storm
By MAGGIE HABERMAN
Good Wednesday morning. As we will not be publishing on New Years Eve or New Years Day, we have come to the last newsletter of 2015. After several debates and months on the trail, the candidates have only a few weeks before the actual voting begins, time enough for a fond look back and a renewed focus on the frenzied weeks ahead.

U.S. Stock Market Future Indications by MarketWatch on December 30, 2015: U.S. Stocks Eye Lower Open as Oil Drops.

marketwatch.com

U.S. stocks eye lower open as oil drops

Victor Reklaitis
 
U.S. stock futures on Wednesday signaled a lower open, as sentiment was hit by a drop in oil prices.
The market is slated to take in a fresh reading on home sales, along with government data on U.S. supplies of crude, which rallied on Tuesday and helped stocks close higher.

Bloomberg Business - December 30, 2015: World in Turmoil Parks Its Cash in Canada Bonds for Safe Keeping.

bloomberg.com

World in Turmoil Parks Its Cash in Canada Bonds for Safe Keeping

Allison McNeely allisonmcneely
 
Even with the nation’s economy struggling to rebound from recession, the Canadian government is still the safest bet in the developed world.
Canada’s government bonds have posted the biggest return among nine developed countries this year, according to the Bank of America Merrill Lynch World Government Bond Index, as its central bank twice cut rates to help an economy succumbing to slowing global growth.

Asian Markets at Close Report by MarketWatch on December 30, 2015: Asian Stocks, Led by Australia, Mostly Gain as Oil Prices Rebound.

marketwatch.com

Asian stocks, led by Australia, mostly gain as oil prices rebound

Cheo Deng
 
Markets in Asia rose Wednesday as a recovery in oil prices lifted energy shares.
Australia’s S&P/ASX 200 XJO, +1.00%   was up 0.6%, while Hong Kong’s Hang Seng Index HSI, -0.53%   and the Shanghai Composite Index SHCOMP, +0.26%   were flat.
Japan’s Nikkei Stock Average NIK, +0.27%   gained 0.5%. South Korea’s Kospi SEU, -0.25%   was down 0.2%.

The Guardian | Business | Economics - December 30, 2015: Stalling UK Wage Growth Set to Revive Debate Over Migrant Workers.

theguardian.com

Stalling UK wage growth set to revive debate over migrant workers

Heather Stewart
 
Average pay growth for Britain’s workers is likely to stall at about 2% in 2016, as the ready availability of migrants makes it easy for employers to fill vacancies, according to a forecast of the labour market.
In its annual assessment, the Chartered Institute for Personnel and Development (CIPD), which represents the human resources profession, says job creation will remain strong over the next 12 months, but wage growth has reached a plateau.