Archive - Jun 10, 2015 - Story

In the absence of new jobs, will mass death be the only thing that straightens out the job to population ratio?

As reported yesterday, in the latest escalation of the "war on ISIS", Obama - winner of the Nobel peace prize for pulling US soldiers out of Iraq - was said to be sending even more US soldiers, pardon military advisors, to Iraq to halt the inexplicable, constant expansion of ISIS, now deep in Syrian territory. Earlier today, this was confirmed when Reuters reported that, as expected, the US will announce on Wednesday plans for a new military base in Iraq's Anbar province and the deployment of around 400 additional U.S. trainers to help Iraqi forces in the fight against Islamic State, citing an unnamed U.S. official.

Greek PM Alexis Tsipras "hasn’t made a good impression on me in the last few days,” an official from Germany's Social Democrats (Angela Merkel's junior coalition partner) says, while a senior lawmaker from the Chancellor's Christian Democratic bloc contends that Greece "is not serious at all."

• Pressing for Greek concessions, Merkel and Hollande keep Tsipras waiting (Reuters)
• Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings (BBG)
• U.S. prepares plans for more troops, new base in Iraq: officials (Reuters)
• Texas policeman resigns after video shows him toppling teen (Reuters)
• Kuroda Says Hard to See Yen Dropping More, Spurring Surge (BBG)
• Tech Startups Woo Investors With Unconventional Financial Terms — but Do Numbers Add Up? (WSJ)
• Putin is a 'bully', U.S. needs to respond resolutely: Jeb Bush (Reuters)

After a Chinese session which following the MSCI failure to include Chinese stocks in its EM index, if only for the time being, was largely a dud with Shanghai stocks actually dropping by 0.1% after a late day selloff, eyes turned to Europe, which once again did not disappoint and where the bond rout continued apace, with the 10Y Bund yield spiking just after the European open, and rising above 1.05%, the widest level since September 19, before recouping some losses and trading just around 1.00% at last check.