"When They Promise To Bring Back Manufacturing Jobs, They're Promising Stagnation"

"Though we’re told that bringing back the work of the past is part of “Making America Great Again,” nothing could be further from the truth.  The day that policies succeed in reviving the past is the day that ambitious Americans start knocking on the doors of other countries, and when immigrants don’t bother sneaking into the U.S. at all."

Will The US Bomb? First Images Of Syrian Army Crossing The Euphrates River In Deir Ezzor

The airspace over Deir Ezzor is now growing exponentially more dangerous as there are substantial rumors that the US coalition has declared a no fly zone (NFZ) over the north side of the Euphrates. In the meantime, Syrian and Russian air operations in the area will only increase with Deir Ezzor military airport's returning to full service.

US Fires Latest Shot In China Trade War: Warns Beijing Is "Threat To World's Trading System"

It's been at least a few weeks since the topic of trade war with China dominated the news flow, so moments ago U.S. Trade Representative Robert Lighthizer decided to poke that particular wound, in during a speech in Washington said that "China’s coordinated effort to create national champions and distort markets is a threat to the world’s trading system."

Gold Tumbles Most Since July (As Bitcoin Bounces)

Gold is down over 1% this morning, extending recent weakness to 3-week lows on the basis that the world didn't end (and the debt ceiling was extended) we presume. Notably, both USDJPY and Bitcoin are mirroring the precious metal's move...

Cable Drops Back Below 1.35 After Carney Walks Back Rate-Hike Comments

Having sent cable 4 big figures higher after his hawkish comments last week, BoE Governor Carney is out desperate to reassure markets he won't break anything by explaining that any rate hikes will be "limited and gradual." Cable has started to leak lower on the headlines...