Despite desperate attempts to jawbone March rate-hike-odds higher, because as Master said last night "we don't want to surprise the markets", Fed Funds Futures imply just a 36% chance (down from a week ago). That suggests, if The Fed is serious about March, that today's minutes must be spun towards that narrative. Here are the five key areas to watch for...
French police have detained two of Marine Le Pen's closest aides: her bodyguard and chief of staff, for questioning over alleged misuse of European Union funds to pay parliamentary assistants, Le Pen's lawyer said.
"If Trump gets the immigration plan he wants, the housing market will get hit harder than any other. If millions of people get deported and more people don’t come in to take their place, then you’ll have downward pressure on home prices, especially in urban areas."
European assets spiked from near session lows, with the Euro and French OATs jumping, dragging Bunds lower and pushing US indices to intraday highs after French politician Francois Bayrou announced he was endorsing Emmanuel Macron in the upcoming presidential election, without saying if he decides not to run.
"I'm dazed & confused...economists and the consensus all acknowledge 2001 and 2007 were low interest rate, debt driven financial and economic bubbles. However, somehow today's even lower interest rate environment resulting in an additional $9.5 trillion in equity valuation from the last bubble peak...this one is legit and isn't a bubble???"
"The message of these exercises ... for world arrogance is not to do anything stupid," said General Mohammad Pakpour, head of the Guards’ ground forces. "The enemy should not be mistaken in its assessments, and it will receive a strong slap in the face if it does make such a mistake."
The likelihood of Germany dividing North v South is extremely high. This entire refugee issue was bad enough. For the SPD to try to give them votes to take control will set off an internal German civil war.
According to the latest weekly BofA client data, "smart money" investors have finally tempered their euphoric optimism, and last week during which the S&P 500 climbed to another new high, BofAML clients took advantage of the surge in "greater fools" and turned net sellers of US equities for the first time since the week prior to the US election in early November.
As the Malaysian police pieces together the clues of last week's dramatic assassination of Kim Jong-Un's brother, in a press conference this morning officials said that the two women suspected in the fatal poisoning attack were trained to coat their hands with toxic chemicals, then wipe them on his face,
In China's latest test of the US response to its escalating claims of islands in the South China Sea, Reuters reports that Beijing has "nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles."
The ongoing scramble for German safety away from French political uncertainty, has led to yet another blow out day for German 2 Year Schatz, with the yield tumbling to a fresh all time low of -0.92%, as Eurozone breakup concerns have spread from the bond market, and are now pressuring the euro sending the EURUSD below 1.05 for the first time in over a month.
What started off in familiar fashion, with Asian stocks rising, and Europe hitting multi-month highs and US futures in record territory has stumbled in recent minutes following a continued rush for safety in short-dated German Bunds (the 2Y is now trading at -0.92%) and ongoing selling in the USDJPY, which has pushed Stoxx 600 back to unchanged, and S&P futures to modestly red for the session.
"The funny part about immigrants staying home is the rest of us who pay for them are here at work like we've always been. Looks like less mouths to feed today. Have fun while you still can. So glad to hear about massive deportation. Let's make America great again. Thanks Donald Trump!!"
No other nation has plunged even nearly as steeply in Americans’ favorability as did Russia, during Obama’s second term. What is especially important to note regarding the plunge in Americans’ approval-rating for Russia is that it didn’t occur only after, but started well before, those events in Ukraine in 2014; it started at the very end of Obama’s first term, in 2012.