Why is it that most of the most interesting economic news come out of Friday's?

No one believes the rally

According to a new report from Bank of America Merrill Lynch, equity funds saw $7.4 billion in outflows in the past week.
The cumulative outflow from equity funds over the past five weeks was $44 billion. BAML's Michael Hartnett, who characterized this as an "equity exodus," noted that this was the largest redemption over a 5-week period since August 2011.
So where is that money going?
In the past week, $3.5 billion went into bond funds and $1.0 billion went into precious metals funds, which offer exposure to gold. There was also $10.9 billion poured into money market funds, the largest inflow in 13 weeks.
In other words investors are playing the safe-haven assets.

Goodbye retirement

Almost 20 percent of Americans 65 and older are now working, according to the latest data from the U.S. Bureau of Labor Statistics. That’s the most older people with a job since the early 1960s, before the U.S. enacted Medicare.
Because of the huge baby boom generation that is just now hitting retirement age, the U.S. has the largest number of older workers ever.
When asked to describe their plans for retirement, 27 percent of Americans said they will “keep working as long as possible,” a 2015 Federal Reserve study found. Another 12 percent said they don’t plan to retire at all.
Why are more people putting off retirement?
Three in five retirees surveyed by the Transamerica Center for Retirement Studies said making money or earning benefits was at least one reason they had retired later than they planned to. Almost half said financial problems were their main reason for working past 65.
The financial crisis, and the tech bust before it, devastated many baby boomers' retirement savings. That's if they had any to begin with. Today, 60 percent of U.S. households have no money in a 401(k) or similar retirement account, and the benefits of 401(k)s are skewed toward the wealthiest Americans, a recent report by the Government Accountability Office found.

How will they avoid blaming Hillary?

New emails released by a conservative watchdog group on Thursday appear to show former Secretary of State Hillary Clinton directing a top aide to call her via an unsecured phone line when technical troubles prevented a secure phone conversation.
“I give up. Call me on my home [number],” Clinton told then-chief of staff Cheryl Mills in a February 2009 email after more than an hour of trouble trying to communicate via a secure line.
“I just spoke to ops and called you reg line — we have to wait until we see each other b/c [the] technology is not working,” Mills said in another email sent at almost exactly the same time.
“Pls try again,” responded Clinton, a few moments later.

No one could have saw this one coming

Last September, I wondered whether it was wise to hype the fintech business — the trend of Silicon Valley firms delivering financial services like bank accounts, payment services and loans. I worried that these booming businesses didn’t look much different from traditional banks except for standing outside the regulatory perimeter. I questioned whether fintech companies had the goal of delivering better financial services or relying on a laissez-faire free market....
It appears the board of directors forced him out after an internal review revealed two red flags. Both of them have to do with the fact that LendingClub was never the “Uber for loans” it was cracked up to be. Private equity funds, asset managers and investment banks are the majority of the lenders on the other side of the loans. In addition, LendingClub sold loans into the secondary markets, with companies like Morgan Stanley and Goldman Sachs issuing bonds backed by them.
In other words, LendingClub is an originator, funneling loans upstream to Wall Street firms.

Nowhere else to put the oil

Cushing, OK, crude inventories reached a record high May 3, 2016 of more than 70mn bbls after refinery outages in the U.S. Midcontinent displaced barrels to both storage tanks and the U.S. Gulf Coast. Without significant new storage capacity, Midcontinent stocks could reach maximum operating capacity this year, according to Genscape.

That's interesting