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...

Frontrunning: September 18

  • Caribbean Braces for Another Hurricane: Maria (WSJ)
  • Trump, Haley to share spotlight at U.N. gathering (Reuters)
  • UN ‘Club’ Trump Derided Forges Unexpected Alliance on Key Issues (BBG)
  • ‘We’ve Been Breached’: Inside the Equifax Hack (WSJ)
  • World stocks reach new peak as Fed-focused week begins (Reuters)

In "Warning To Pyongyang", B-1B Bombers, F-35s Hold Mock Bombing Drills

US B-1B tactical bombers, together with F-35B stealth fighters as well as four South Korean F-15K conducted a joint military exercise in response to Pyongyang’s recent moves. Meanwhile, China and Russia began naval drills off the Russian far eastern port of Vladivostok, not far from the Russia-North Korea border.

 

Global Stocks Storm To New Record High Ahead Of Historic Fed Announcement

Last week's bullish sentiment that sent the S&P not only to a new all time highs, but a burst of last-second buying pushed above 2,500 for the first time ever, has carried through to the new week, with European and Asian shares rallying across the board, US futures again the green, and world stocks hitting a new record high on Monday ahead of a historic Fed meeting.

"Starts With A Whimper, Ends With A Bang": Trader Previews Fed's Balance Sheet Reduction

"The whole set-up is reminiscent of the 2000 millennium bug anxieties. For all the dire warnings of IT Armageddon, the change came and went without much fuss, but the dot-com bubble that we all knew had become massively overblown did eventually pop. And the fact that it burst later rather than on cue made the collapse all the more spectacular."