Europe won't capitulate to this template for democratically justified default in Italy and Spain.

A blow to confidence, but Chinese stocks are now valued about the same as US stocks.

Prisoners dilemma solved. Greece punished. Varoufakis humiliated. Message sent to Spain.

Iran could pump 5 million barrels per day by 2020. But a growing stream, not a violent flood.

Don't trust the production picture. US will drop hard, and OPEC's gains are not repeatable.

Recession risk is back, but with some key differences versus the same threat in Q1.

Funny how Yellen keeps saying "sometime this year." But the FOMC statement never does.

Something for nobody. We don't see how this is the "further improvement" Yellen seeks.

It's not that China needs to weaken the RMB. It's that the dollar is just too strong.

Maybe, but stocks, the dollar, gold, TIPS, and Fed expectations don't seem to think so.