It appears the weight of positioning is too much to maintain any OPEC/NOPEC jawboning. After yesterday's failure by the Saudis, Russia's comments that it "doesn't rule out extending the oil pact with OPEC" prompted an immediate algo panic buy... but seconds later that was sold into as we suspect over-extended longs are now using rips to reduce risk.
Just ten days after the US Attorney for New York, Preet Bharara was fired by Donald Trump, prompting speculation if he was working on a probe of Trump himself when he was terminated and further speculation which employer would imminently retain Bharara's services, moments ago the former attorney gave the answer: he is joining the NYU School of Law.
After a full day allotted for "opening statements" yesterday, Neil Gorsuch once again takes the stand before the Senate Judiciary Committee today but this time he'll actually be entertaining questions rather than sitting in awkward silence as Democrats takes potshots at his professional career. Grab your popcorn because today's festivities are scheduled for 10 hours of fun.
Passengers on foreign airlines headed to the U.S. from 10 airports in eight majority-Muslim countries will have to check electronic devices larger than a cell phone - including laptops, tablets, cameras, travel printers - under new Homeland Security flight restrictions that took effect this morning.
As previewed last week, moments ago Apple has introduced a 9.7-inch iPad with Retina display, starting at $329. Today AAPL also announces red edition of iPhone 7 and iPhone 7 Plus to mark more than 10 years of partnership between Apple and HIV/AIDS charity.
Kim Jong-un has released a propaganda video in which a US aircraft carrier is blown up while a US strategic bomber shot down in flames. The clip also includes footage from the communist state’s recent ballistic missile launches
"In the lead-up to the March meeting, Fed speakers were hawkish and seemingly “orchestrated”. So what do they go and do? Deliver a hike that was taken as dovish. And now we’re all sitting around hoping the slew of speakers this week will tell us what they really meant. Why does anyone think there’ll be clarity with a shelf-life beyond this week?"
With just two days left until the House is set to vote this Thursday on the critical Obamacare repeal bill, where an adverse vote could lead to the biggest blow to Trump's domestic policy agenda yet, House Republican leaders on Monday night released the latest set of changes to their ObamaCare replacement bill, as they scrambled to win more votes for the legislation.
European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD. The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win.
An editor at French daily, Le Figaro, has alluded to secret polling data which show the Front National’s Marine Le Pen polling close to 34% among those with intentions to vote in the first round of the French presidential election.
“Late in the summer they concluded based on the polling that a lot of people were reading that Mr. Trump didn’t stand a chance,” said Comey, although it was not clear just how the FBI knew what the Russians "concluded" as of last summer.
With the omnipotence of the world's central banks suddenly all too evidently exposed as nothing more than 'Oz'-like smoke-and-mirrors, it is not just US politicians that are losing faith and calling for more oversight of the most-powerful unelected officials in the world. Handelsblatt reports today that Germany's federal auditor says The ECB lacks accountability in banking sector oversight and government will work to close that oversight gap.