Everything is a buy!

“Everything is being driven by high liquidity that ultimately is being provided by central banks,” Simon Quijano-Evans, chief emerging-market strategist at Commerzbank AG, Germany’s second-largest lender, said in London. “It’s an unusual situation that’s a spill over from the 2008-09 crisis. Fund managers just have cash to put to work.”
For much of the time since the financial meltdown eight years ago, investors have been in the mindset that bad economic data is good news for markets. The near-zero interest-rate policies by major central banks -- and negative borrowing costs in Japan and some European nations -- have pushed traders to grab anything that offers yield. And every indication that the liquidity punch bowl will stay in place is greeted by markets with a cheer.

Markets are not normal

Yields on the 10-year government debt of Germany and the U.K. fell to all-time lows, a stark demonstration of the modern era of scant inflation, weak growth and outsize monetary policy.
The yield on 10-year German bunds closed at 0.049% on Tuesday and continued to fall on Wednesday, hitting 0.036% in early European trade, according to data from Tradeweb. The 10-year U.K. gilt yield slipped to 1.263% at Tuesday’s close and traded down to 1.256% early Wednesday. Both yields are lower than previous troughs in the first half of last year. A different measure of the U.K. yield from data provider FactSet stood at 1.267% Tuesday. Yields fall as prices rise.
Also Tuesday, the U.K. sold a 30-year bond with a yield of 2.095%, the lowest average auction yield ever for that maturity. A similar bond auctioned in April yielded 2.345%. And Switzerland announced it will be issuing 13-year bonds with a 0% coupon, the lowest on record.
A fully charged program of central-bank bond buying in the eurozone, along with negative interest rates, has pulled down the bund’s yield. The decline in British yields is remarkable, since the Bank of England hasn’t moved interest rates since 2009 nor changed its bond-buying program since 2012....
Tumbling German bond yields this year have a more straightforward cause: the European Central Bank’s move to progressively deeper negative rates and its continued buying of government bonds. The ECB’s stimulus has driven yields down on swaths of German government bonds: German debt all the way up to nine years has negative yields. The amount of global sovereign debt with negative yields surpassed $10 trillion for the first time in May, according to Fitch Ratings.
German lender Commerzbank AG estimates that almost two-thirds of all German sovereign debt outstanding now yields below minus-0.4%, which makes it ineligible for central-bank purchases.

Which brings us to this

The bank’s entry into the corporate bond market on Wednesday was no exception: buying bonds with junk ratings. The second day didn’t disappoint either, with purchases of notes from troubled German carmaker Volkswagen AG.
By casting his net as wide as the program allows, Draghi ensured that the first day of corporate bond purchases made an impact. While the ECB has said it would buy bonds from companies with a single investment-grade rating, investors expected the central bank to start with the region’s highest-rated securities...
Purchases on the first day included notes from Telecom Italia SpA, according to people familiar with the matter, who aren’t authorized to speak about it and asked not to be identified. Italy’s biggest phone company has speculative-grade ratings at both Moody’s Investors Service and S&P Global Ratings. The company’s bonds only qualify for the central bank’s purchase program because Fitch Ratings ranks it at investment grade

literally no one knows who owns your mortgage

In a filing unsealed on June 3, 2016, the Department of Justice (DOJ) confirms what many of us have known for years. Nobody, not even the U.S. Government, with massive resources, can determine who owns your loan and has the right to collect on your mortgage.
The information comes from case files unsealed on June 3, 2016 by federal Judge Yvonne Gonzalez Rogers of the Northern District of California in the case of the United States v. Discovery Sales, Inc. The case involves some 325 fraudulent loans originated by Discovery Sales, Inc. (DSI) between 2006 and 2008, many of which were then sold to Wells Fargo Bank and JP Morgan Chase to securitize.
The Discovery Sentencing document on page 9 states:

The originating lenders who made loans to purchase DSI properties, including Wells Fargo and J.P. Morgan Chase, generally would not keep the mortgages and thus did not end up losing money as a result of the DSI fraud scheme. Instead, they would sell the mortgages to other banks who would package them in securities that were sold to other investors. These securities failed when the underlying mortgages went into default. It was impossible to trace the majority of the mortgage loans on the over 300 homes sold by DSI that were the subject of the FBI investigation; it would have been harder yet to identify individual victims of the fraud given that the mortgages were securitized and traded.

Hillary goes after GOP voters

Hillary Clinton is wasting no time trying to woo Republicans turned off by Donald Trump now that she’s the presumptive Democratic nominee, as her campaign has launched a new website aimed at courting disaffected GOP voters.
The website, republicansagainsttrump.org, was registered on May 27 and launched on June 2, according to domain registration records. The Clinton campaign only appears to have begun buying ads to promote the site more recently.
The ads promise potential supporters a “free ‘Republicans Against Trump’ sticker” if you pledge to oppose Trump in the fall.
The small print, if a visitor scrolls to the bottom of the page, reads: “Paid for by Hillary for America.”

FBI is keeping us "safe"

If you’re a fake bomb-maker for the FBI or one of those informants who poses as an ISIS recruiter online, business is definitely booming, as continued pushes for more “terror” arrests have dramatically escalated the problem, with the FBI admitting “hundreds” of such sting operation are now ongoing.
Increasingly, reports of detained “ISIS suspects” involve arrested Americans with literally no ties to ISIS, who were approached by FBI informants as likely to be susceptible, and then ultimately arrested for their involvement in an FBI-manufactured “plot.” The NY Times is reporting about two in three terror prosecutions in the US are such FBI-made fake plots.