European Union

Will Macron Serve The Interests Of The American Deep State?

The accrued momentum in colossal sums of money flowing this way and that way has allowed unreality to reign in international finance for a while. But that is now flying apart. The ultimate reality, politicians and economists will soon discover, is that you can’t create your own reality.

Euphoria Returns: European Stocks Soar, Dax Hits Record; S&P Futs Surge In "French Relief Rally"

Risk is definitely on this morning as European shares soar, led by French stocks a new record high in Germany's Dax, and S&P futures up 1.2% after a "French relief rally" in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month. Asian stocks also surged, expect for China, which suffered its biggest drop of the year, down 1.4%, ending the streak of losses no greater than 1% going back to December.

Le Pen, Macron Progress To Second Round As Establishment Parties Crash

With more numbers coming from the French Interior Ministry, as of 11:31 p.m. local time Macron's lead is growing to 23.61% as more city votes are counted, vs Le Pen 22.20%, with 41 Million votes counted, or 85.4% of the total. The gap is likely to expand as the final votes are tallied.

Ukraine, Korea, Syria, Iran... Falsifying History Is Uncle Sam's Way To War

Russian President Vladimir Putin addressed the International Arctic Forum this week on the real and present dangers from falsifying history. He said such deliberate distortion of history erodes international law and order, creating chaos and leading to further conflict. The Russian leader deplored the use of history as an «ideological weapon» to demonize others, and he said that without proper understanding of history we are bound to repeat mistakes of the past.

Central Banks Give "All Clear" To BTFD If French Election Upsets Market

"The central bank is ready for any shocks that should materialize [after the French election]... Intervening very quickly is really very easy now given the instruments we have... But as we have seen in similar cases, no need has really been observed. And the reason is that all market participants know that these instruments are there to be used."

Frontrunning: April 19

  • As Trump warned N. Korea, 'armada' headed to Australia (Reuters)
  • Threat of Carrier Heading to Koreas Wasn’t All It Seemed (WSJ)
  • Markets Start to Ponder the $13 Trillion Asset Gorilla in the Room (BBG)
  • Investors’ Nightmare Scenario Takes Shape in French Election (WSJ)
  • Venezuelan opposition to hold 'mother of all marches' against Maduro (Reuters)

Europe Gets Its Doomsday Scenario

In France, the right feels betrayed by open borders and excessive regulation, the left by an unaccountable elite that always seems to profit at everyone else’s expense. And both sides suffer from soaring debt at every level of society. So if a fringe candidate doesn’t win this time around, the mainstream will just make an even bigger mess, raising the odds of a fringe victory next a few years hence.

Theresa May Calls For Snap UK General Election To Get Brexit Support

In a stunning development, Theresa May announced she would seek an early general election for Britain on June 8 to obtain a direct mandate to take the country through the Brexit divorce with the EU. The decision, which comes just three weeks after the prime minister began the formal Brexit process, has shocked British politicians as they returned from their Easter break.

Frontrunning: April 18

  • Britain's May seeks snap election to boost Brexit hand (Reuters)
  • Trump to seek changes in visa program to encourage hiring Americans (Reuters)
  • Trump appointee Gorsuch energetic in first U.S. high court arguments (Reuters)
  • Pence Reaffirms U.S.-Japan Alliance Amid North Korea Provocations (WSJ)
  • Blackwater Founder Erik Prince Said to Have Advised Trump Team (BBG)

Global Stocks Slide As Iron Ore Crashes; Pound Jumps After UK Calls Snap Elections

European stocks slide  s traders return from a 4-day Easter holidays, Asian equities likewise drop pressured by the ongoing rout in iron ore, while U.S. stock-index futures point to a lower open. British markets were roiled after U.K. Prime Minister Theresa May said she would seek an early election on June 8. The FTSE 100 droped 1.3%, on the news, hitting the lowest since Feb. 24