It is the 27th of April 2017

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Can 'Soft' Become 'Hard'? - RBC Explains The Market's "Longer-Term Battle"

The last few days have seen the yawning chasm between 'soft' survey and confidence data (soaring) and 'hard' real macroeconomic data (tumbling) widen still further.

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Data Fraud At Chinese Province Suggests Local GDP Numbers As Much As 20% "Overcooked"

One month ago, in delightful, if anticipated, confirmation that much if not all of China's data has been cooked and fabricated as so many skeptics suspected, we reported that according to the People's Daily, the rust-belt province of Liaoning had admitted to fabricating fiscal numbers from 2011 to 2014. The fabricated economic data was meant to show a state of economic strength with fiscal revenues inflated by at least 20%, and some other economic data were also false, the paper said, without specifying categories.In short, the fabrication opened a hornet's nest: if one Chinese was doing it, then why not all, and by how much was the real data off?

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"We're Very Angry": Why Trump Wants To Expand America's Nuclear Arsenal

Shortly before the market close on Thursday, retailers stumbled on one single Reuters headline: Trump says he supports "some form" of border tax.

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US Shale Production To Soar By 3.5 Million Barrels/Day Over Next Five Years: BofA Explains Why

Two years ago, when Saudi Arabia launched on an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last year's attempt to cut production), it made a bold bet that US shale producers would be swept under when the price of oil tumbled, leading to a tsunami of bankruptcies, as well as investment and production halts. To an extent it succeeded, but where it may have made a glaring error is the core assumption about shale breakeven costs, which as we reported throughout 2016, were substantially lower than consensus estimated.

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