Global Stocks Hit New All Time High As Dollar Rebounds; Europe Volatile On Earnings Deluge

The levitation continues with S&P futures pointing to - what else - another higher open while European stocks swung between gains and losses on the busiest earnings days of the year (85 of the Stoxx 600 report) which has seen European pharma giant AstraZeneca plunge 15%, the most on record, after its flagship lung cancer trial Mystic failed to show benefits, while Deutsche Bank slumped 4% on a 12% plunge in FICC revenue.

EU To Force Poland, Hungary And Czech Republic To Accept Refugees

One month after the EU's executive Commission launched legal cases against Poland, Hungary and the Czech Republic for "defaulting on their legal obligations" by refusing to accept migrants, on Wednesday the three Central European nations suffered another blow after Brussels mounted a legal fightback to force them to comply with EU refugee quotas.

Deutsche Bank Tumbles After Abysmal Trading Results

Deutsche Bank shares tumbled 4% on Thursday after the bank reported a plunge in overall company revenue which slumped to the lowest in three and a half years, as Investment Banking revenue dropped 16%, while FICC tumbled a whopping 12% Y/Y and 30% Q/Q, with CEO John Cryan taking a page out of the Goldman playbook and blaming "muted client activity."

Draghi Did Not Keep His Promise

"The threat to the euro is today greater than it was in 2012, and for that Draghi has completely failed. It comes not in Target II imbalances and Greek default penalties, but in political upheaval tied directly to what it is that Mario Draghi can’t seem to figure out. He can promise all he wants, but Europe’s fate will not be determined by his euro."

UK Terrorism: 'Enough' Is Not 'Enough'

Were terror attacks like this simply something that the British public would have to get used to, as the Mayor of London, Sadiq Khan, had suggested? What if the public did not want to get used to them?

Dr.Copper's False Hope - "We've Seen All This Before, Too Many Times"

Copper prices surged to the highest levels since May 2015 in the last few days, prompting the ubiquitous "must mean the economy is doing well" narrative from every hope-fuelled reflationist. There's just one problem, we’ve seen all this before too many times.

The Military Industrial Complex Is Undermining US National Security

"The ongoing problems with the F-35 and other military programs, stemming from virtually unlimited budgets, underline the inefficiency of the American military-industrial complex...This will certainly bare consequences for Washington’s present and future strategy of power projection."

Real Fake News: Science Used As Propaganda

"Fear sells. We are used to it in the media but don’t usually expect it from doctors and scientists. But they are humans too, and just as likely to push their agenda instead of the truth."

Politics Of The Next 4 Years: Part 3 (What's An Independent To Do?)

"I am not a Democrat or a Republican. I do not consider myself a libertarian, progressive, socialist, anarchist, conservative, neoconservative or neoliberal. I’m just a 38 year old guy trying to figure it all out...I still don't understand why any of us put up with Washington D.C. All 50 states should secede from it and start over."