Copenhagen

Sweden Truck Terrorist Arrested; Bomb Found Inside Truck

Swedish police have arrested the man they accuse of plowing a hijacked beer delivery truck into a crowd in central Stockholm on Friday, killing four people and wounding more than a dozen in what they called a terror crime. The arrested suspect comes from Uzbekistan and is 39 years old, investigators said at a press conference.

Who Benefits From War With Russia?

There is absolutely no upside to any conflict with Russia when it comes to 99.9% of us. The fact so many pundits, anonymous intelligence officials and Hillary Clinton cultists are encouraging such an outcome based on zero publicly available evidence that Russia hacked the DNC/John Podesta and provided it to Wikileaks for the purpose of electing Trump, should be seen as the gigantic red flag that it is.

Global Equity Euphoria Prepares To Meet Mario Draghi

There’s seemingly no stopping the equity side of the “Trumpflation” trade in what may be developing into an epic year end blow-off top. The euphoria which took the S&P 500, Russell 2000 and the Transports to all-time highs yesterday, and the Dow to less than 500 points away from 20,000 carried over into Asian stocks (+0.8%) as they followed bullish trend, while European stocks rose for a fourth day.

US Futures, Global Stocks, Metals Rise On Economic Confidence, Upbeat Earnings

European, Asian stocks and S&P futures are all up again in early trading, a repeat of the Monday session, buoyed by a generally upbeat corporate earnings season, rising economic confidence and signs of improvement in the world’s biggest economies. After Charles Evans' hawkish comments on Monday, the market is now pricing in a 71% chance of a rate increase this year, up from 68% last week.

Futures Drop As ECB Confusion Persists, Dollar Rises To Seven Month High; Yuan Plunges

Asian stocks and S&P futures fall modestly and European shares are little changed as traders digested the surprising reticence from yesterday's ECB meeting. The dollar jumped to 7 month highs, pressuring EM currencies and pushing the euro to its weakest level since March and below the Brexit lows, after Mario Draghi shut down talk of tapering, while the Yuan dropped to the lowest since 2010.

US Elections: Neither Free Nor Fair

Lecturing on democracy is a distinctive feature of American foreign policy. Does the US really provide an influential role model for how elections should run in other countries? Is America really a shining example of real democracy? "Forbear to judge, for we are sinners all." Domestic and international experts rate the US elections as the worst among all Western democracies. According to Electoral Integrity Project, Denmark, Finland, Norway and Sweden are at the top of the ranking, while the US scores 62.

Global Central Bank-Driven Stock Rally Fizzles; Crude Rebounds On Saudi Oil Production Cut Report

Until minutes ago, this week's rebound in global equities appeared to be running out of steam as oil retreated from a two-week high and a dollar slide ended.  However, as noted just around 6am, Reuters reported, citing as it usually does various "anonymous sources", that in a radical departure from its long-held policy of not cutting production, Saudi Arabia was prepared to cut production on condition that Iran freezes output, which led to an instant spike in crude.

US Futures, Bonds Rise, Dollar Dips As Fed, BOJ Meetings Begin

If yesterday one could "explain" the overnight stock levitation due to the move higher in crude oil, today there is no such catalyst with WTI down modestly, and yet the broader push higher across European stocks and US equities has reappeared following yesterday's muted close on Wall Street ahead of key central bank data on deck.

US Futures, European Stocks Rebound, Bonds Fall Ahead Of US Data Deluge

The overnight session started with more weakness out of Asia, where chatter that the BOJ may end up doing nothing despite all the trial balloons (as we hinted yesterday), sent the USDJPY sliding, pushing the Nikkei lower, leading to a 7th consecutive decline in the Topix, the longest such stretch since 2014 even though the BOJ is now actively buying a record amount of ETFs. However, the modest dip in S&P futures and European stocks proved too much for BTFD algos, and risk promptly rebounded.

"It's Bordering Chaos": $14 Billion In Cargo Stranded At Sea, Crews "Go Crazy" On Hanjin Ghost Ships

The fallout from last week's historic bankruptcy of one of the world's biggest shipping lines, Hanjin Shipping, has found little resolution with as much as $14 billion worth of cargo stranded at sea: conditions are "bordering chaos," said the CEO of SeaIntelligence Consulting in Copenhagen, while the Hanjing shipping labor union added that "our ships can become ghost ships."

What Wall Street Expects From The ECB, And How Will The Market React

With the ECB running dangerously low on bonds to monetize even as its QE program has failed to spur inflation, Mario Draghi may have no choice but to unveil drastic changes to the central bank's QE programm tomorrow. Here are the options available to the central banker, and some ideas of how markets may react.