Despite enduring more than half a decade of conflict leaving an estimated 400,000 dead and 11.4 million displaced, Syria retains an active stock market. In fact, last year was the Damascus Securities Exchange's busiest on record.
The U.S. economy and the dollar are slated for a controlled demolition. The Fed will do everything in its power to prod Trump and conservatives into war with the central bank, because the Fed is now ready to sacrifice itself and the dollar’s world reserve status in order to clear a path for a new global system and ideology. The Federal Reserve is a suicide bomber.
It is absolutely imperative to see Trump as a symptom of a sick and broken system as opposed to the root cause of anything. The corporate media and legions of mourning Hillary cultists continue to present the Trump threat in extraordinarily simplistic and unhelpful terms. They act as if he’s the head of some evil snake, and that disposing of him as an individual will get America back on track. This couldn’t be more wrong.
Tosoh Corporation, the giant Japanese petrochemical conglomerate, collapsed over 20% to below JPY800 shortly after the Japanese open, on volume eleven times average as traders scrambled to find out the catalyst. There was no news of course - just another flash-crash in a world of limited liquidity at the margin (where a small options-arb fund can drive the US equity market for a week).
John Boehner has reportedly told an Orlando health care conference that the idea of a speedy repeal-and-replace of Obamacare is just "happy talk" while adding that "repeal-and-replace [is] not going to happen" because "Republicans never ever agree on health care."
As we previously noted, while speculatrs had been reducing their shorts in Treasury futures, they had added to Eurodollar shorts - pushing their bets on Fed rate hikes to record highs. However, as Bloomberg notes, signals are starting to emerge that traders who built up that heavy short, or hawkish, eurodollar base since the start of 2016 could be starting to throw in the towel on a March Fed rate hike.