Abu Dhabi

In Historic Move, Qatar Restores Diplomatic Relations With Iran

Will we all look back on this moment when future historians trace the end of the GCC? Did the Saudis finally overreach in their anti-Iran fanaticism to become the authors of their own demise? The surprising emergent Iran-Qatar alliance is sure to at least be the start of a new regional order where the Saudis can no longer dictate terms no matter how many Western powers stand at their side.

Iran Threatens Trump With Restart Of Nuclear Program "Within Hours"

"Those who try to return to the language of threats and sanctions are prisoners of past delusions," Iran president Rouhani said on Tuesday. "If they want to go back to that experience, definitely in a short time — hours and days — we will return to our previous [nuclear] situation very much stronger."

Key Events In The Coming Vacation Week: All About Inflation

With the traditional post-payrolls market lull setting in, and most trading desks taking a week or two off, it will be a relatively quiet week with attention turning to inflation data with releases in the US, China, Norway & Switzerland, a key factor as central banks consider if/when to tighten in the near future.

World Stocks Hit Another All-Time High As Crude, Treasurys Drop

World stocks hit a new record high on Monday, as U.S. index futures followed Asian stocks on better-than-expected company earnings and strong US jobs data deflected attention from the rising geopolitical tension over North Korea's nuclear program. European stocks traded near session lows while Crude oil prices fall. The Bloomberg Dollar Spot Index was little changed.

Frontrunning: August 2

  • Trump close to decision on addressing Chinese trade practices (Reuters); White House Weighs Trade Measures Against China (WSJ)
  • Republicans Pivot to Tax Cuts Amid Frustration at Lack of Detail (BBG)
  • Russian losses in Syria jump in 2017, estimates show (Reuters)
  • Market Paradox: Firms Get Punished for Posting Earnings (WSJ)
  • OPEC’s ‘Catch-22’: How to Unwind Its Deal to Cut Oil Output (WSJ)

A Coup In The House Of Saud?

The secret is out: the ascension of Mohammad bin Salman, displacing CIA favorite Mohammad bin Nayef as Crown Prince, was in fact a white coup...

Key Events In The Coming Week: The Summer Doldrums Arrive

With little on the US economic docket in the coming days, this week's focus is on the ECB and BoJ meeting along with minutes from the RBA and the Riksbank. In the US The key economic release this week is housing starts on Thursday. There are no scheduled Fed speaking engagements this week.

Arab States Meet To "Deliver Verdict" On Qatar Response To Ultimatum

Foreign ministers of Saudi Arabia, the United Arab Emirates, Egypt and Bahrain are meeting in Cairo today to consider whether to escalate, or less likely abandon, the boycott imposed on Qatar last month that has rattled a key oil-producing region and unnerved strategic Western allies.

Middle East At Point Of No Return As Saudi-Qatar Rift Deepens

The challenges MBS faces are enormous. Due to lower hydrocarbon revenues, he will need to change an oil-based economy into a more open, liberal and high-tech economy, capable of taking on global competition in these fields... While the Saudi leading ulema have pledged allegiance to the new crown prince, the reality remains complex... At the same time, the region is at a point of no return if the Syria-Iran and Qatar issues are not solved soon.