Archive for June, 2016

30 June 2016

Thursday, June 30th, 2016



Today’s Issue Cluster: Oil



MAJOR DATA POINTS

Japan – May: Industrial Production Drops; -2.3% from +0.5% / B / AFP
EZ – Jun: Inflation rises; +0.1% from -0.1% / eu *
US – Week: Jobless claims rise; +10k to 268k / R


MARKETS



ECONOMICS

US – Yellen warns on poor productivity FT / B *

US – IMF sees economy in ‘good shape’ R / FT

US – Cheap Fuel Puts $20b in Pockets, AAA Says / B * *

US – Philly Fed State Coincident Indexes Increased in 38 States cr *

US – The Upper Middle Class Is Larger Than Ever WSJ / WSJ *


POLITICS & FISCAL POLICY

Brexit – FTSE 100 is back above last Thursday’s close WSJ *

Brexit – Stocks Rebound, but Jitters Linger WSJ *

Brexit – Models for the UK’s Future BW *

Brexit – Political contagion risk minimal: Eurasia Group / eg *


MONETARY POLICY



FINANCE

US – Fed Stress Tests Clear 31 of 33 Big Banks WSJ *

US – Morgan Stanley Must Resubmit Capital Plan / B * * *

US – EU banks face new challenge FT *


REAL ESTATE

US – Rents Are Booming, But for How Long? WSJ

US – Dying Shopping Malls Have Billions in Debt Coming Due B *

US – Behind those Amazon boxes, a bull market in warehouses R

US – AIA Architecture Billings Index increased cr *


LABOR & EDUCATION



SERVICES



MANUFACTURING



TECH



TRADE & TRANSPORTATION

Auto – US Vehicle Miles Driven increase / cr *

Truck – ATA Index increases / cr *


COMMODITIES



ENERGY & ENVIRONMENT

Oil – Inventories streak of declines most in a year / b *

Oil – Market: New Saudi minister signals end to glut FT

Oil – Market: Saudis May Have Called the End of the Glut Too Early / b *

Oil – Majors: In traditional markets despite renewables pressure FT *

Oil – Canada: Output Poised to Fall for First Time in 7 Years B *

Oil – Canada: Sands to dominate output growth to 2030 / b *

Oil – Nigeria: Output has been cut by a third; it may get worse E *

Oil – Russia: Company Is for Sale, Again NYT

Oil – Gulf of Mexico: Companies Crank Up Production WSJ *

Oil – US: Explorers take pause for the first time this month / b *

Oil – US: Obama Fracking Rules Struck Down WSJ / NYT / FT / R

Oil – US: The Rotten State of the Strategic Reserve BW *

Oil – US Demand: Record guzzling fails to dent inventories FT

Oil – China Demand: Imports of Russian crude reach a record / b *


HEALTH



ENDNOTE

US religious groups and their political leanings pew *


29 June 2016

Tuesday, June 28th, 2016



Today’s Issue Cluster: Pharma



MAJOR DATA POINTS

US – May: Pending Home Sales in First in Two Years; -3.7% / CNBC

US – May: Consumer Spending Rose; +0.4% from +1.1% / WSJ / R

US – May: Core PCE Prices Increased; +1.6% from +1.6% / R


MARKETS

Brexit – Selling Might Already Be Over in the US B *


ECONOMICS

Brexit – Tourists Flocking to London B * *


POLITICS & FISCAL POLICY

Brexit – Germany has much to lose WSJ *


MONETARY POLICY

BOJ – Whispering sweet intervention warnings in Japan ft *

BOJ – Holds 34% of government bonds / t *


FINANCE

Brexit – EC Prepared to Help Avoid Run on Italian Banks WSJ / FT

Brexit – Hollande Takes Aim at City of London B *

Brexit – Moody’s lowers UK banks’ outlook to negative FT / WSJ

Brexit – Fall in share value is just one problem for UK banks FT *

Brexit – Adds to existing troubles faced by banks FT *

Brexit – Banks’ Credit Surviving the Storm WSJ / NYT


REAL ESTATE

Brexit – Vote Roils UK Real-Estate WSJ *

Brexit – Vote Could Curb Asian Buyers’ Appetite for UK Assets WSJ *

Brexit – Chinese Buyers Look Again at Property WSJ *

Brexit – Time to Back Rebound in UK Home Builders WSJ *


LABOR & EDUCATION



SERVICES

Media – Hollywood’s Latest Stars Hail From China WSJ / WSJ *

Media – China’s Content Crackdown Forces Western Concessions WSJ *


MANUFACTURING



TECH



TRADE & TRANSPORTATION

AVs – Cost of car insurance to plunge FT * *

AVs – Rolls-Royce unveils its first driverless car FT *

AVs – World’s Biggest Robots Proves Challenging for Miners B *

AVs – Driverless Cars to Fuel Suburban Sprawl WSJ


COMMODITIES

Helium – Scientists Discover ‘Game-Changer’ Deposits in Tanzania B

Helium – Scientists Devise New Way to Find an Elusive Element NYT


ENERGY & ENVIRONMENT

Quakes – Land around the San Andreas fault is rising and sinking LAT *

Volcanoes – 200 years after Tambora, it could happen again E * *


HEALTH

Pharma – Industry Under Pressure B *

Pharma – As US Prices Rise, So Does Outrage B *

Pharma – ‘Cancer Drugs Can’t Stay This Expensive Forever’ B *

Pharma – Biotech Labs Birth New Drugs, and New Fortunes WSJ *

Pharma – Spending May Reach $1.4t by 2020 / B *

Pharma – Millions of microbes are yet to be discovered NYer


ENDNOTE

Photos taken by locals and tourists in London motw *


28 June 2016

Monday, June 27th, 2016



Today’s Issue Cluster: Nuclear Power



MAJOR DATA POINTS

US – Q1: GDP Growth Revised Up; +1.1% from +0.8% / WSJ / R

US – Apr: Case-Shiller Home Prices Continued Strong Growth; +5.0% from +5.1% / WSJ

US – May: ConfBd Confidence Climbed; 98.0 from 92.4 / B


MARKETS

EZ – Traders Get Ready for More Volatility WSJ *

EZ – The euro struggles to escape Brexit shadow FT *


ECONOMICS

EMs – Risk-off sentiment hits emerging markets FT *

EMs – Brexit Effect Ripples Through Emerging Markets WSJ *

EMs – Emerging market multinationals eclipse competitors FT *


POLITICS & FISCAL POLICY

Brexit – Uncertainty weighs on global groups with UK assets FT * *

Brexit – Vote Casts Pall Over UK Businesses WSJ * *

Brexit – ‘The Norway option is the best available for the UK’ ft


MONETARY POLICY

World – Strengthening Currencies Bedevil Central Banks WSJ *


FINANCE

EU – Bank Shares Drop, as Analysts Weigh Brexit Impact WSJ *


REAL ESTATE



LABOR & EDUCATION



SERVICES

Retail – Stores Rethink Inventory Strategies WSJ *

Retail – Unleashed: A Wave Of Pet-Friendly Services & Innovations IBD *


MANUFACTURING



TECH



TRADE & TRANSPORTATION



COMMODITIES



ENERGY & ENVIRONMENT

Nuclear – PG&E to Close CA’s Last Plant by 2025 WSJ / NYT / AP *

Nuclear – The CA `Duck Curve’ That Will Jolt Its Power Grid B *

Nuclear – What Will CA Do With Too Much Solar? KQED *

Nuclear – Environmental Groups Change Tune WSJ

Nuclear – Builders see new opportunities in India N *


HEALTH



ENDNOTE

Where Europe and Asia would fit in North America, climate-wise reddit *


27 June 2016

Monday, June 27th, 2016



Today’s Issue Cluster: Robots



MAJOR DATA POINTS



MARKETS

Yuan – Falls to Weakest Point Against Dollar Since 2010 WSJ

Yuan – Brexit Upends China’s Plans for Turmoil-Free Summer WSJ *

Yuan – Shudders Despite Beijing’s Campaign to Steady the Currency WSJ *

Yuan – PBOC Discusses Opening Offshore Market to Onshore Banks B *


ECONOMICS

Brexit – Trade and Tourism Suffer Most in These Six EU Nations B *

Brexit – US Economy Looks Likely to Weather Storm WSJ *

Brexit – Bad news for carriers FT / WSJ *


POLITICS & FISCAL POLICY

Brexit – Give UK Leaders Time to Rethink Vote, Merkel Aide Says B / FT / WSJ / B

Brexit – UK ‘may never’ trigger EU divorce: diplomats AFP

Brexit – Can vote be stopped? Anything is possible ft

Brexit – The Latest Catch-All Excuse for Everyday Problems WSJ

Brexit – Full results / G *

Brexit – Italeave? Vote fires up EU’s ‘Outers’ / R / B *

Spain – Rajoy confounds expectations to emerge winner FT / WSJ * *


MONETARY POLICY



FINANCE

Brexit – Banks prepare for another day of currency mayhem FT *

Brexit – Banks begin moving some operations out of Britain FT *


REAL ESTATE

Brexit – Expected to end UK house price boom B *


LABOR & EDUCATION

Robots – Industrial sales hit record FT

Robots – Chinese scouting Europe for acquisitions R

Robots – ‘Radical inshoring’ companies are taking back manufacturing FT

Robots – On Track to Bump Humans From Call-Center Jobs WSJ *

Robots – Will smarter machines cause mass unemployment? E * *


SERVICES

Restaurants – Dining Out Falls Victim to Economy WSJ *

Restaurants – 2016 Olympics may mean tug of war for sales B *


MANUFACTURING

Brexit – Vote Rattles Japanese Auto Makers WSJ / FT *


TECH



TRADE & TRANSPORTATION

UK/EU – ‘Brexit Will Raise Trade Barriers’ WSJ *

TTIP – Brexit a final nail in the coffin for stalled trade deal R

TPP – Trade Pacts Face Another Hurdle With Brexit WSJ *

Nafta – Glory days may be over E *


COMMODITIES



ENERGY & ENVIRONMENT



HEALTH



ENDNOTE

Meanwhile, in a parallel universe… ft *


24 June 2016

Thursday, June 23rd, 2016



Today’s Issue Cluster: Metals



MAJOR DATA POINTS

Germany – Jun: Ifo index highest in 10 months; 108.7 from 107.8 / B *

US – May: Durable-Goods Orders Fell; -2.2% from +3.3% / WSJ

US – Jun: UMich Consumer Sentiment Falls; 93.5 from 94.7 / CNBC / WSJ


MARKETS

Euro – Sluggish Growth Adds to Brexit Debate B *

Franc – The Losing Battle Against the World’s Most Powerful Currency WSJ *

Germany – 10-year yield turns negative FT / WSJ


ECONOMICS



POLITICS & FISCAL POLICY

Brexit – UK: Plunges into constitutional crisis FT / WSJ * *

Brexit – UK: Changes To Come Slowly NYT / wsj *

Brexit – PM: Cameron Out, Boris In? / WSJ

Brexit – Labour: Corbyn Next to Go? / Ind / FT

Brexit – Scotland: New independence vote is “highly likely” / FT

Brexit – Northern Ireland: Sinn Fein calls for poll on united Ireland / Ind

Brexit – EU: Heightens Fears of Disintegration / WSJ

Brexit – EU: Calls for vote in France, Italy, Netherlands, Denmark, Sweden / BBC

Brexit – Stocks: Europe set for worst drop since 1987 / B / B *

Brexit – Banks: Taking Brunt of Crash / FT / WSJ / WSJ

Brexit – Pound: At the sharp end of markets’ reaction / FT *

Brexit – Pound: Versus Remain vote / b *

Brexit – BOE: Traders Brace for Rate Cut / B * *

Brexit – Gilts: Bond yields set fresh record low / FT *

Brexit – Gold: Soars to a two-year high / FT *

Brexit – UK: Predictions say GDP will be lower by 2030 / FT *

Brexit – UK: Impact on trade, immigration to be determined / FT *

Brexit – US: Predicted to ‘Rattle Economy, Shake Influence’ / WSJ

Brexit – Fed: Zero implied probability of rate hike in Jul Sep & Nov / b / WSJ *

Brexit – US: Probability of Rate Hikes, Before & After / b *

Brexit – Japan: On the Hot Seat / WSJ *


MONETARY POLICY

ECB – Could Soon Run Out of Bunds to Buy B *


FINANCE

Switz – Shuttered Geneva Offices Show Impact of Lost Banking Secrecy B *


REAL ESTATE



LABOR & EDUCATION



SERVICES

Retail – China graft purge will pay off, says Gucci FT *

Retail – Internet Is Crushing Department Stores B *


MANUFACTURING



TECH

Unicorns – Twilio’s Shares Jump 92% in Trading Debut WSJ *

Unicorns – Twilio leaps in debut / R *

Unicorns – Twilio shares surge in Wall Street debut / FT *

Unicorns – European variant remains elusive FT *


TRADE & TRANSPORTATION



COMMODITIES

Metals – Tesla Is Squaring Off Against China BW *

Metals – Luxembourg boldly goes into asteroid mining FT *

Gold – Has been no safe port in this storm FT *

Zinc – At a 10-month peak stands out from the metals pack FT

Copper – ‘Real Spark’ for Demand Is Renewable Energy, BHP Says B *

Steel – Makers Strengthen On China Duties; Auto, Construction Demand IBD

Steel – A Mill Lives Again, in a Setback for China NYT


ENERGY & ENVIRONMENT

Coal – ‘As Wind Power Lifts WY’s Fortunes, Miners Are Left in the Dust’ NYT

Coal – The Decline of the Industry in One Chart aaf *

Coal – BHP Sticks With Mines in Hard Times WSJ *


HEALTH



ENDNOTE

The Psychology of Color For Unicorns vc *


23 June 2016

Wednesday, June 22nd, 2016



Today’s Issue Cluster: Crops



MAJOR DATA POINTS

Japan – Jun: Markit manufacturing PMI contracts for 4th month; 47.8 from 47.7 / R

Germany – Jun: Markit manufacturing and services PMI dips; 54.1 from 54.5 / B

US – May: New Home Sales Slows; -6.0%, +6.4% yr / WSJ / R

US – May: ConfBd Leading Indicators Declined; -0.2% from +0.6% / CNBC

US – Week: Jobless Claims Fell; -18k to 259k / WSJ / R / B


MARKETS

Japan – Foreign Investors Unload Stocks as Disenchantment Grows WSJ *


ECONOMICS



POLITICS & FISCAL POLICY



MONETARY POLICY

BOJ – Japan: The dash to stash FT *


FINANCE

Japan – In a World of Negative Rates, These Lenders Get 18% WSJ *


REAL ESTATE



LABOR & EDUCATION



SERVICES

E-Cigs – US use stalls as health concerns grow R *

E-Cigs – Could Be Taxed By States Missing Out on Tobacco Revenue B *

E-Cigs – FDA to Regulate, Ban Sales to Minors WSJ / NYT / R / B / E *


MANUFACTURING

EVs – Challenger in China Promises to Debut $106k E-Roadster B / R *

EVs – Could slice fuel consumption up to 20% in two decades WSJ

EVs – Electric Cars Demand Power B *


TECH



TRADE & TRANSPORTATION

Ship – The New Panama Canal: A Risky Bet NYT / WSJ

Ship – NY Isn’t Ready For Expanded Panama Canal WSJ * *

Ship – SC Will Get Boost From Expanded Canal WSJ *

Ship – LA area Port Traffic Increased / cr *


COMMODITIES

Crops – Milder La Niña forecast for commodity markets FT

Crops – Brazil’s credit crunch threatens exports, farmers R *

Crops – The corn shortage that Brazil really can’t afford FT * *

Crops – Agriculture becoming more like manufacturing E *

Crops – Hops: Craft brewing leads to record harvest R

Crops – Palm Oil: Cargill and Bunge refuse to cut ties with trader FT *

Crops – Peanuts: Consumers face roasting from rising prices FT * *


ENERGY & ENVIRONMENT

Alt – Solar: Tesla Offers to Acquire SolarCity WSJ / NYT / R / FT * *

Alt – Solar: Tesla Shares Hit Hard WSJ / FT / B / WSJ *

Alt – Solar: Deal May Be About Debt B / WSJ *

Alt – Solar: Cost of Clean Energy Seen Nosediving Into the Next Decade B *

Alt – Solar: Competition clouds prospects FT *


HEALTH



ENDNOTE

Modern Distribution of Celtic Languages reddit *


22 June 2016

Tuesday, June 21st, 2016



Today’s Issue Cluster: Oil



MAJOR DATA POINTS



MARKETS

Nigeria – Currency tanks against dollar on float FT / WSJ *

Nigeria – Buckled to market pressure to devalue naira FT / WSJ

Nigeria – Stocks rise as locals anticipate return of foreigners b


ECONOMICS

South Africa – Economy stalling as exports slow B *

South Africa – Avoids feared downgrade to junk status FT / FT *


POLITICS & FISCAL POLICY

Africa – Growth / E *

Africa – New railways risk going the way of the old ones E *


MONETARY POLICY

Fed – Yellen Points to Slow Growth and Low Rates in the Long Run WSJ / FT / B / R *


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES

Media – ‘Needs to Embrace Digital Shift’ WSJ / WSJ / WSJ *

Media – Rise of Ad-Blocking Software Threatens Online Revenue NYT

Media – NYT Readies Ad-Free Digital Subscription Model WSJ

Media – Fleet Street rivals join forces to combat slowdown FT * *


MANUFACTURING



TECH



TRADE & TRANSPORTATION



COMMODITIES



ENERGY & ENVIRONMENT

Oil – Rally Runs Out of Steam as Canadian Wildfire Threat Fades B *

Oil – Raymond James: Get Ready for $80 B *

Oil – Opec Turmoil Could Turn IEA’s Balanced Market Into Shortfall B * *

Oil – Is $50 enough to revive global production? E *

Oil – Iran’s Comeback May Already Be Over B *

Oil – Putin Said to Weigh $11b Rosneft Sale to China, India B *

Oil – ND output posts biggest drop in history R

Oil – Resilient US shale producers eye new chapter R

Oil – Horizontal US Rig Counts Increased Slightly / cr *

Oil – Uncompleted wells could hold back price rebound FT *

Oil – Fracking two-fer: scientists propose substituting CO2 for H2O B *

Oil – Majors look to shed refineries as crude prices rebound R

Oil – China Set to Seize Importer Crown B *

Oil – Asia the 21st Century Battlefield B * * *


HEALTH



ENDNOTE

Hours of Daylight on the Summer Solstice blog *


21 June 2016

Monday, June 20th, 2016



Today’s Issue Cluster: Brexit



MAJOR DATA POINTS

Germany – Jun: ZEW sentiment rises; 54.5 from 53.1 / FT


MARKETS

Brexit – Tiny Tilt in Polls Roils Global Markets WSJ / FT *

Brexit – 1992 May Offer Guide to Results of ‘Leave’ Vote WSJ *

Brexit – Sterling Crisis is Worst-Case Scenario WSJ *

Brexit – Vote Puts Pound’s Future on the Line B *

Brexit – Euro wakes up to threat FT *

Brexit – Yen Surges to Almost Two-Year High as Storm Gathers Force WSJ *

Brexit – Japan’s precipitous short yen position FT *

Brexit – Vote Is Upending Asia’s Markets WSJ *

Brexit – Goldman Sees Sharp Swings Regardless of Result B *

Brexit – Foreign-Exchange Traders Staff Up WSJ *

Brexit – Global Investors Wake Up to Threat WSJ *

Brexit – Cash piling up just outside the equity market B *


ECONOMICS

Brexit – The City Fears End to Golden Age B *


POLITICS & FISCAL POLICY

Brexit – First 100 Days Promise Chaos B *

Brexit – Middle England drives revolution FT *

Brexit – Scotland: Fears of the Next Exit S *

Brexit – Northern Ireland Teeters on Front Line WSJ *

Brexit – EU leaders mobilize to urge UK to Remain FT *

Brexit – Juncker’s Leadership Under the Microscope S / NYT *

Brexit – Germany frets about its EU dominance FT

Brexit – Schaeuble Says EU Would Survive With Big Ambitions Curbed B


MONETARY POLICY



FINANCE

Brexit – Investors Flee UK and EU Banks as Jitters Mount WSJ *

Brexit – Which Banks Will Be Hit Hardest WSJ

Brexit – Paris and Frankfurt jostle for London’s mantle FT / NYT *


REAL ESTATE

Brexit – London House Prices Under Threat in Any Event WSJ *


LABOR & EDUCATION



SERVICES



MANUFACTURING



TECH



TRADE & TRANSPORTATION



COMMODITIES

Brexit – Gold miners emerge through looking glass as havens FT

Brexit – The Two Commodities Where Leave Would Be Good News WSJ


ENERGY & ENVIRONMENT

Brexit – Oil prices slumped and then rebounded WSJ *

Brexit – Could seal Dutch dominance over UK gas trading hub b *


HEALTH



ENDNOTE

Map Of Europe If All The Separatist Movements Get Their Way BI *


20 June 2016

Sunday, June 19th, 2016



Today’s Issue Cluster: Pharma



MAJOR DATA POINTS

China – May: Home prices rise faster; +6.9% from +6.2% / R

Japan – May: Exports fall faster; -11.3% from -10.1% / R / B *


MARKETS



ECONOMICS

US – Economic Gauges Raise Specter of Recession WSJ *

World – EM catch-up set back ‘decades’ FT *


POLITICS & FISCAL POLICY

India – Modi Defends Efforts to Shake Up Economy WSJ *

India – Defensive mode FT * *


MONETARY POLICY

RBI – Rajan to stand down FT / WSJ / NYT / R / B *

RBI – With Rajan Undone by Politics, Pressure Rises on Modi B / FT *

RBI – Attacks stoked talk of change FT / WSJ / FT * *

RBI – Challenges ahead E *


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES



MANUFACTURING



TECH

Mobiles – Micromax rounds on Chinese rivals over India sales FT *

Mobiles – Apple’s Challenges in China Underlined by Patent Dispute WSJ / FT *


TRADE & TRANSPORTATION



COMMODITIES



ENERGY & ENVIRONMENT

NatGas – Japan Steps on Gas in Bid to Reshape LNG Market WSJ *

NatGas – Don’t Get Too Comfortable WSJ *

NatGas – US LNG Exports Are Benefiting South America the Most / b *


HEALTH

Pharma – India’s online start-ups prove a bitter pill FT *

Pharma – China Deal Will Slash Prices of Top-Selling Treatments WSJ

Pharma – Secret Deal Squeezes Mexico’s Drug Sector WSJ

Pharma – Price of cancer drugs vastly higher in US FT / E * *

Pharma – New Drugs in Testing to Combat ‘Superbugs’ WSJ

Pharma – ‘Time to take drug resistance seriously’ E * * *

Pharma – Countering antibiotic resistance e *

Pharma – Opioids: The problem of pain E *


ENDNOTE

Vegetarianism as a percentage of population in India motw *


17 June 2016

Thursday, June 16th, 2016



Today’s Issue Cluster: Coal



MAJOR DATA POINTS

US – May: Housing Starts Fell; -0.3%, permits +0.7% / WSJ


MARKETS



ECONOMICS

World – Economy Flashes Hint of 1937-38 Redux, Says Morgan Stanley B *

US – Risks Japanese-Style Growth Slump WSJ *


POLITICS & FISCAL POLICY



MONETARY POLICY

Fed – Inaction does not equate to paralysis FT *

Fed – Eyes lasting impediments to growth after rethink on outlook FT *


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES



MANUFACTURING

Robots – Fueled by Higher Asia Wages WSJ *

Robots – Inventor’s approach moving from C-3PO to R2-D2 FT

Robots – Revolution helps Adidas bring shoemaking back to Germany FT

Robots – 3 of the world’s 10 largest employers replacing workers bi *


TECH



TRADE & TRANSPORTATION



COMMODITIES

Hogs – The Hottest Commodity in China Is Feeding Half the World’s Pigs B *

Hogs – China’s Newest Bubble: Food for Pigs WSJ *

Hogs – Investors Bet Rally Has Legs on Rising China Demand B *


ENERGY & ENVIRONMENT

Coal – Production Plummets to Lowest Level in 35 Years NYT

Coal – Banks censured by environmental groups FT *

Coal – “World Nears Peak Fossil Fuels for Electricity” B *

Coal – Britain told to brace for power shortages FT

Coal – Unloved, rides commodities rebound FT

Coal – How To Make Money From a Long, Slow Demise IBD


HEALTH

Insurance – Get ready for big increases in Obamacare premiums nyt / AP

Insurance – In a Secret Meeting, Revelations on the Battle Over Health Care NYT

Insurance – UnitedHealth to Exit Key ACA Market WSJ

Insurance – How much Obamacare changed this year bi *


ENDNOTE

Results of the 2016 Democratic Party presidential primaries wiki *