Australia

Frontrunning: March 13

  • Oil touches three-month lows, as U.S. supply swells (Reuters)
  • Oil Steadies Below $49 as U.S. Drilling Threatens Longer Glut (BBG)
  • Traders Brace as Crucial Events Loom for Markets (WSJ)
  • Preet Bharara’s Probes Likely to Continue After His Exit (WSJ)
  • Dollar steadies after three-day fall (Reuters)
  • GOP Health Plan Would Hit Rural Areas Hard (WSJ)

When Spies Are Out Of Control

"I have seen the spies at work, on both sides of the Iron Curtain... I suggest U.S. top spies go back to doing their real work instead of inventing fairy tales."

Canada's New Blasphemy Laws

Although these motions against "Islamophobia" are not legally binding, extremists have already started demanding them as laws.

Mega-Bears Smell Blood As Mall REITs Tumble

"There has been a steady drumbeat of negative reports from anchor retailers in the mall. As a result, when we keep hearing bad news it adds to the impression that there is a problem in the malls.”

OECD Warns There Is A "Disconnect" Between Markets And The Global Economy

"Disconnect between financial markets and fundamentals, potential market volatility, financial vulnerabilities and policy uncertainties could, however, derail the modest recovery. The positive assessment reflected in market valuations appears disconnected from real economy prospects." - OECD

Futures Decline, Europe Slumps After German Industrial Orders Collapse

After a turbulent overnight session on Monday morning, this morning traders settle at their desks to find a relatively calmer environment, with US equity futures down 0.2% to 2,371.75, while European stocks fell for a third consecutive day, and Asian markets which closed mixed (China up, Nikkei down, MXAP up 0.2%).

Europe Votes To Impose Visas On Americans

European lawmakers voted to force Americans to apply for visas when traveling to Europe in response to Washington refusing to allow all Europeans to travel to the States visa-free.  The vote by show of hands is the latest in the ongoing “visa war” between Brussels and the US capital.