U.S. Restaurant Industry Stuck In Worst Collapse Since 2009

After 17 consecutive months of continuous declines for the restaurant industry - the longest stretch since 2009 - the end of the tunnel for the restaurant industry is nowhere in sight, and according to the latest monthly data, there was a sharp deterioration in the latest monthly data.

The Billionaire Bears Club

"The next crisis won’t start in the equity market, or even the high yield bond market. The next crisis will occur when Central Banks lose control of sovereign bond markets. I know that is exactly the opposite advice that the Billionaire Bears Club boys are giving you, but I don’t mind being on the other side of their trade... Economic weakness will just mean more printing, it is economic strength that should worry the equity bulls."

DOJ Demands 1.3 Million IP Addresses Of Visitors To Antifa Website Used To Coordinate Riots

In what is shaping up to be a contentious battle over privacy rights and free speech, the Department of Justice has formally requested that web hosting firm ‘DreamHost’ turn over 1.3 million IP addresses and other information to ‘unmask‘ visitors to the anti-Trump Antifa website ‘disruptj20.org,’ as part of the investigation into crimes committed on and around January 20 by protesters.

South Korea Warns Trump Only It Can Declare War On North

"War must never break out again on the Korean Peninsula. Only the Republic of Korea can make the decision for military action on the Korean Peninsula" said South Korean president Moon in a forceful speech overnight.

Frontrunning: August 15

  • White House Risks a Backfire Over China and North Korea (WSJ)
  • Three More CEOs Turn Their Backs on Trump (BBG)
  • Cities ramp up removal of Confederate statues (Reuters)
  • Moon Vents Korea Frustration by Asserting Right to Veto U.S. War (BBG)
  • Iran says its drones near U.S. vessels are safe, following rules (Reuters)

China Threatens With Trade War Retaliation If US "Damages Trade Ties"

"If the U.S. side ignores the facts, and disrespects multilateral trade principles in taking actions that harms both sides trade interests, China will absolutely not sit by and watch, will inevitably adopt all appropriate measures, and resolutely safeguard China's lawful rights."

VIX Tumbles, Global Stocks And Dollar Rally As Korea Tensions Ease

Global stocks and US futures are up for a second day, with the VIX sliding 0.58 vols to 11.75 (-4.7%) and haven assets dropping, after a KCNA report report suggested North Korea had pulled back its threat to attack Guam after days of increasingly bellicose "fire and fury" rhetoric with President Trump, and hours after China took its toughest steps to support U.N. sanctions against Pyongyang.

Kim Jong-Un "Briefed On Guam Attack Plan", Backs Off Threat Of Imminent Missile Launch

"[Kim Jong-Un] said that if the planned fire of power demonstration is carried out as the U.S. is going more reckless, it will be the most delightful historic moment when the Hwasong artillerymen will wring the windpipes of the Yankees and point daggers at their necks, underlining the need to be always ready for launching to go into action anytime once our Party decides."

Is Trump Gearing Up To End The Iran Nuclear Deal?

"U.S. President Trump seems determined to kill the nuclear deal with Iran. European leaders should strive to prevent this, as it would severely damage transatlantic relations and the nuclear non-proliferation regime."