European Union

EU - Not China Or Japan - Is The Biggest US Treasury Holder (And This Is Not A Good Sign)

Mainstream media are reporting that Japan has become the biggest holder of the US treasuries, surpassing China last month. However, this is true only in regard to single countries, as The EU became the top US Treasury holder in February 2016, i.e. one year ago. Unfortunately, the EU’s holdings are artificially overstated because of some financial havens and they are going in the opposite direction to the trend: up rather than down.

Frontrunning: January 24

  • Dollar steadies after stumble, sterling rides out Brexit ruling (Reuters)
  • After U.S. exit, Asian nations try to save TPP trade deal (Reuters)
  • U.K. Court Rules Brexit Trigger Needs Parliamentary Vote (BBG)
  • Brexit plans unlikely to be slowed by Article 50 defeat (Reuters)
  • Health Secretary Nominee Proposed Bill Benefiting Puerto Rico Investments (WSJ)

US Futures, Oil Flat As Greenback Rises Despite Mnuchin's "Strong Dollar" Warning

US equity futures were flat, European stocks rose and Asia was mixed after the dollar posted a modest rebound overnight despite Mnuchin's "strong dollar" comments, while oil was flat and gold fell, as investors focused on President Donald Trump’s plans to boost growth. The pound fell after a U.K. court ruled that Parliament must vote on triggering Brexit.

In Blow To Theresa May, UK Supreme Court Rules Parliament Must Vote Before Brexit Can Start

In a blow to Theresa May's ambitions to implement a "clean Brexit", on Tuesday morning UK’s Supreme Court ruled the UK Prime Minister can’t start the Brexit process without approval from Parliament, a decision that could potentially complicate her path toward a clear break from the European Union. Eight justices voted against the government and three voted in favor of it, in a decision that was widely expected.

"We Are Two Nations... Maybe More!"

"The Trump Wars of the past 18 months do not now go away. Now it becomes the Trump Civil War, every day, with Democrats trying to get rid of him and half the country pushing back. To reduce it to the essentials: As long as Mr. Trump’s party holds the House, it will be a standoff. If the Democrats take the House, they will move to oust him... Because we are divided. We are two nations, maybe more."

David Rosenberg: "The Travesty Is We Have 23.5 Million Americans Aged 25-To-54 Outside The Labor Force"

The real travesty, and what I think deserves top priority (but I don’t see it), is that we have, in addition to 7.5 million officially unemployed (a number that is closer to 15 million when all the hidden unemployment is accounted for), 23.5 million Americans aged 25-to-54 who reside outside the confines of the labor force. And at a time when job openings are at record highs.

The Geopolitics Of 2017 In 4 Maps

The saying goes that a picture is worth a thousand words. Maps are worth many more. Our perspective on the world is rooted in an objective and unbiased approach to examining geography and power. These four maps are especially helpful in thinking about the geopolitical forces that will shape the world in the year ahead.

These Are The 3 Main Issues For Europe In 2017

What will the year ahead look like for Europe? 2017 will be another chapter in the European Union’s slow unraveling (which even Soros sees as inevitable)... a process that has been underway for over a decade.

Apple Sues Qualcomm For $1 Billion

Apple sued its mobile chip supplier Qualcomm for $1 billion, saying Qualcomm has been "charging royalties for technologies they have nothing to do with." The suit follows a US FTC lawsuit against Qualcomm earlier this week over unfair patent licensing practices.