India Assets Slide After Modi Launches "Surgical Strikes" In Kashmir, Killing Two Pakistani Soldiers

India conducted "surgical strikes" on suspected terrorist camps just across the border in Pakistan, marking its first direct military response to an attack on an army base it blames on Pakistan. The military offensive was the worst since 1999, when then-Prime Minister Atal Bihari Vajpayee - also a member of Modi’s nationalist Bharatiya Janata Party - responded to what he said was repeated cross-border infiltrations by militants in Kashmir.

Frontrunning: September 29

  • Stocks Jump as OPEC Splits Markets; Indian Assets Drop on Attack (BBG)
  • In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets (BBG)
  • Congress Passes Spending Bill to Keep Government Running (WSJ)
  • Wells Fargo chief Stumpf heads to Hill with pressure mounting (Reuters)
  • Lawmakers Won’t Let Wells Fargo Forget Its Scandal Anytime Soon (BBG)

Goldman Says OPEC Deal May Add Up To $10 To Price Of Oil, Two Days After Cutting Oil Price Target By $7

Goldman has done it again. Two days after the central banker-incubator cut its year end price target from $50 to $43, and followed the next day by a report in which it said that not even an OPEC deal would stop oil going lower, overnight the same analyst said that the OPEC agreement will "likely provide support to prices, at least in the short term" and added that the announced production quota should boost the price of oil by $7/bbl - $10/bbl.

Crude Declines As OPEC Deal Doubts Emerge; Futures Roll Over

After oil soared over 5% yesterday, its biggest jump since April, overnight skepticism and doubts have emerged about the viability and compliance with the deal, coupled with a boost in production by non-OPEC producers, and as a result WTI has dipped back under $47, down 0.5%, suggesting that the OPEC surge may be short-lived, and modestly pressuring US equity futures.

Libertarian Gary Johnson Has Another "Aleppo Moment"

If the rest of the world was already laughing violently, watching the spectacle that is America's presidential election, we wonder how it would react if it knew that there is actually a third candidate for the US presidency, one who can't name a single foreign world leader.

Obama Responds To Veto Override...

Despite all his cajoling and fearmongery, President Obama lost his veto-override virginity today... and is not happy. Speaking at a CNN town hall this evening, the president said that Congress "made a mistake," but also let slip what is really troubling him...

"Freedom Has A Price" - Holland's Wilders Rages "Let's Lock The Door To Islam"

"It is time to raise our voices. Let them sound like thunder: Freedom has a price. The price is to always defend it, no matter the consequences. To be brave and let no-one bully us into submission. So, let us do our duty and ensure that Reagan’s warning never becomes a reality: Extinction is not an option! Freedom or Islam. You cannot have it both ways. There is no middle way."

"Ominous Shades Of 1987" - HSBC Shows Why 17,992 Is The World's Most Important Number

With Saudi devaluation bets soaring, Chinese money-market rates popping, 2 debates and an election looming, and the most systemically dangerous bank in the world flashes the reddest of red warning signs, HSBC's Murray Gunn's conclusion bears paying attention to. Between wave-trending signals and disturbing technical trading patterns, Gunn warns of "ominous shades of 1987" for the markets.

How The 'Deplorables' Can Save America

The U.S. cannot be saved from financial crisis; instability is a mathematical certainty. It is how we respond to this instability that will determine our success or failure. Here is what we “deplorables” must accomplish in the next decade if we are to rebuild America and defeat globalism...

"When Hillary Gets Scared, She Plays The Russia Card"

That Hillary in power will try (and possibly) succeed in going to war once again, this time targeting Russia or its allies (the Syrian state, the Ukrainian Russian separatists), is frightening.  The electorate is malleable, its collective memory short. What should be universally acknowledged truths (the Iraq War was based on lies) are in fact not grasped adequately by the masses. If they were, how could anybody vote for hideous Hillary?