KeNo's Housing and Economic Portal: Friday April 24 Housing and Economic stories

TOP STORIES:

Bond-Liquidity Desperation Sends Record Cash Into ETFs Worldwide - (www.bloomberg.com) The unprecedented demand for bond exchange-traded funds in the U.S. is spreading across the pond as European investors seek an easy way to buy into one of the longest bull runs in credit-market history. The ETFs, which trade like stocks and can be purchased online, have attracted $35.7 billion this year worldwide, on track to exceed the record $84.9 billion placed last year, according to data compiled by BlackRock Inc. About $14 billion of that was in Europe, the data show. Thirteen years after being created in the U.S., the funds are gaining traction globally as a salve for traders’ complaint that new regulations are making it harder to buy and sell bonds. While it’s simple to purchase an ETF, concern is growing that investors are underestimating how difficult it may be to get out when sentiment sours. The International Monetary Fund said in a report last week that the dynamic may pose a risk to financial stability.

The Madness Of Negative Bond Yields - (www.zerohedge.com) Confidence in the system likely hangs by a much thinner thread than is currently widely perceived. Since “risk asset” prices are soaring in much of Europe, the underlying currents of suspicion are well masked, but that certainly doesn’t mean they don’t exist. While we believe that central bank and regulatory interventions in the market are a major reason why so many bond yields have dropped into negative territory, the role played by distrust in the banking system is probably quite large as well – a suspicion that seems to be confirmed by the strength of the euro-denominated gold price.

OREGON GOLD MINING STAND OFF WITH BLM…. - (www.agenda21radio.com) BLM issued a cease and desist order without a court order and without 'Coordination Authorization'....with local authorities. Federal officials acting lawlessly. Possible federal land grab to seize gold rich property on behalf of Chinese government. Sheriff Dave Daniel is NOT considered to be a Consitutional Sheriff. A land dispute is creating tension between miners in Josephine County and the Bureau of Land Management. The owners of the mines say they are afraid their rights to due process will not be respected and have now called in reinforcements. The Oath Keepers of Josephine County are gathering at a piece of property near Merlin. They’re in the process of setting up a staging area, in order to step in if they are needed by the Sugar Pine miners. “Because we are constitutional group,” said Mary Emerick with Oath Keepers. “We defend the Constitution… And we are here just to make sure that they receive their Fifth Amendment rights which is due process.” The owners called them in to help protect the property that they have mined for more than 100 years. The miners say documents they have grandfathered-in their surface rights to the property. But the BLM says the documents are outdated, and at some point, the property has changed hands which cancels out the grandfather process. Now, the BLM says the miners have to tone down their mining operation to stay in line with the regulations.

Insight: U.S. public companies seek bankruptcy at fastest first-quarter rate since 2010 - (www.reuters.com) The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years, according to a Reuters analysis of data from research firm bankruptcompanynews.com. Plunging prices of crude oil and other commodities is one of the major reasons for the increased filings, and bankruptcy experts said a more aggressive stance by lenders may also be hurting some companies. While U.S. stocks have climbed to near record levels and the jobless rate has fallen to a six-year low, 26 publicly traded U.S. corporations filed for bankruptcy in the first three months of 2015. The number doubled from 11 in the first quarter of last year and was the highest since 27 in the first quarter of 2010, which was in the immediate aftermath of the financial crisis. In addition, many of the bankruptcies were large. Six companies had reported at least a billion dollars in assets when they filed in the first quarter of this year, the most in the first quarter of any year since 2009.

Why Is WalMart Mysteriously Shuttering Stores Nationwide For "Plumbing Issues"? - (www.zerohedge.com) WalMart has abruptly closed multiple stores across the country affecting an estimated 2,000 employees over the past several days citing "ongoing plumbing issues" which it will apparently take the company 6 months or more to fix. Interestingly, the stores are geographically distinct, and have nothing in common other than "clogs and leaks," and no plumbing permits have been obtained for any work.

OTHER STORIES:

4 ways deflation will change the markets - (www.marketwatch.com)

IMF finds growing risks to financial security - (www.marketwatch.com)

The next recession could lead to a viscious spiral of debt-inflation - (www.businessinsider.com)

Small business optimism slumps to nine-month low: NFIB - (www.marketwatch.com)

Bubble fears just hit their highest level on record - (www.businessinsider.com)