Bond

Euro Tumbles Ahead Of Yellen, Macron Speeches As Stocks Shake Off Korean Crisis

S&P futures are flat after Monday’s tech-driven drop and as tensions with North Korea are once again put on the backburner; Asian stocks are modestly lower while Europe has shaken off the Korean crisis and is in the green on the back of a sharp drop in the EURUSD which has tumbled below 1.18 as the USD rises ahead of much anticipated speeches by the Fed Chair and the French president.

A Failing Empire, Part 1: Russia & China's Military Strategy To Contain The US

"Looking at the global political landscape over the last month, two trends are becoming more apparent. The infamous military and economic power at America’s disposal is declining, whereas in the multipolar field, an acceleration has occurred in the creation of a series of infrastructures, mechanisms and procedures to contain and limit the negative effects of America’s declining unipolar moment."

Global Stocks Mixed After "Nightmare Victory" For Merkel; Chinese Property Developers Crash

European stocks rose as the euro tumbled following Germany’s election result which was dubbed a "Nightmare Victory" for Merkel and could lead to complicated coalition talks. U.S. equity-index futures point to a lower open, while Asian equities slide after a plunge in Chinese property developer names as well as tech stocks following more iPhone delivery concerns. S&P500 futures are steady. 

Two Key Indicators Show The S&P 500 Becoming The New "Cash"

"...the downward slope points to a meager long-term return. In fact, if we use only the scatter plots above to make our estimate, while also accounting for the Fed’s predicted interest rate path, the S&P 500 appears to offer a similar return to cash."

"Japan Has No Illusions That Rates Will Ever Rise": Is This What The Endgame Looks Like

"Whatever the policies, Japan has already tried them. Japan is far more advanced in fully monetizing its debt by utilizing multiple asset classes, from bonds to equities. It also accepts that normalization is not feasible, and unlike the Fed, it has no illusions that rates could ever rise or that deep labour market reforms are either possible or desirable."

Kass Warns: "The Scent Of Group Stink Is As Strong As In 2000 & 2007"

Golfer Tom Watson once wrote, “Sometimes thinking too much can destroy your momentum.” And most investors and traders, in a reactionary mode, seem to prefer to adopt such a strategy. But, I vividly remember the positive and incessant price momentum in early 2000 and late 2007 that appeared impossible to divert until, all at once, an important change in price trend occurred, seemingly overnight. The market consequences were ugly.

Pound Flash Crashes After Moody's Downgrades UK To Aa2

In an otherwise boring day, when Theresa May failed to cause any major ripples with her much anticipated Brexit speech, moments ago it was Moody's turn to stop out countless cable longs, when shortly after the US close, it downgraded the UK from Aa1 to Aa2, outlook stable, causing yet another flash crash in the pound.