Old news articles that are still interesting today. (WSJ - 23 Feb 2016)

(image source: @WSJGraphics)

More Ships Idled as Demand Ebbs

• Along the coastlines around the world ships carrying iron ore, coal & other bulk commodities have not been able to move or unload the haul
• A lot of this has to do with China's crumbling economy and lack the means to purchase said commodities
• Some ship owners are already scrapping contracts with commodities due to the rough estimate of $15,000 per month
• Brokers estimate roughly 7% of the world's fleet are sitting idle

Some Law Schools Consider Dropping the LSAT

• To do this the rationale is that it would boost falling law school applicants
• LSAT scores and accepted to certain schools helped gauge the ranking of the school
• University of Arizona considers the GRE just as an effective tool to test what the LSAT does/did
• Jeff Thomas, Dir. Prelaw Programs at Kaplan: The GRE is regarded as the easier test. The entirety of the LSAT was meant to mimic the law-school experience, while the GRE was not created for that purpose.
• "After analyzing test scores from 78 current and former Arizona Law students, the company [ETS. 3rd party, study conducted to measure the test's reliability after 1st year grades] determined it has at least as much predictive value as the LSAT."
• U of Hawaii Law & Wake Forest U School of Law are conducting similar studies

Central Banks Boost Fed Repo Use

• A repo is an usually an overnight borrowing options between banks and the Fed in Government Investment Vehicles. Extremely short-term borrowing and lending.
• "In Fed reverse repos, institutions temporarily park cash with the central bank in exchange for interest payments and Treasuries as collateral. In foreign repos, account holders' dollars are swept into and overnight facility paying 'a rate of return tied to comparable market-based Treasury repo rates," the Fed says on its website.

The Swiss Franc

• Swiss banks are offering 0.00% interest rates on borrowing the Swiss Franc (CHF)
• There has to be an arbitrage move in here somewhere...
• Borrow CHF
• Convert to local currency (or if you really want to see returns buy a crypto-currency with it)
• Cash out when the breakeven CHF amount is surpassed
• Convert back to CHF
• Pocket the earnings
• This all depends on exchange rate fees so Money Gram or neon lit Currency Exchanges are a good way to lose your earnings with their x-rates

Apple and FBI Wage War of Words

• Mr. Cook urged, speaking w/ White House Chief of Staff Denis McDonogh & Attorney General Loretta Lynch, government officials to publicly acknowledge of the benefits of encryption, according to people familiar with the discussions.
• FBI director, James Comely, said companies should work with the government to devise a way to get court-ordered access to data sought in investigations.
• "Both sides are embroiled in a national debate over security and privacy."
• "We can't look the survivor in the eye, or ourselves if we don't follow this lead," Mr Comey wrote on the Lawfare blog
• Cook replied with an email to employees, shared with reporters, calling the government's move "a dangerous precedent that threatens everyone's civil liberties."
• Cook is correct, according to...me

44% Share of investment grade energy sector bonds trading at junk [bond] prices
Britain is considering leaving the EU