Eurozone

Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More

The key economic releases this week are the durable goods report and Q1 GDP revision on Friday. The minutes of the May FOMC statement will be released on Wednesday at 2PM. In addition, there are several scheduled speaking engagements by Fed officials this week

Trumpquake: Futures Wipe Out Month's Gains In One Session, VIX Spikes

Growing concerns over the turmoil engulfing President Donald Trump’s administration weighed on risk appetite, sending global stocks and US futures lower, pressuring the dollar while boosting yen, gold and VIX. The sharp drop has seen the gains over the past month wiped out in one session.

JPMorgan: It's Time To Start Shorting Europe Again

"we argued that the market will keep grinding higher in the very short term, given bears’ ongoing capitulation and the return of inflows into Eurozone. We think this support is now close to being spent. We advise to tactically cut directional exposure to stocks and even lay on outright shorts, in addition to having recently reduced portfolio beta." - JPM

Is Blockchain A Gold & Silver Launchpad?

Global governments, having previously removed metals’ backing from the currencies they print, now attempt to force their citizens into holding only digital paper currency “wealth.” How ironic it will be, if by these very actions, the ultimate effect turns out to be the unleashing of new demand waves for digital metal – redeemable for physical gold and silver.

Presenting Goldman's "Worst-Case Survival Guide To Uncertainty, Taxes And Trade"

The juxtaposition of rising policy uncertainty vis a vis declining fear in risk assets raises "cause for pause" according to Goldman, which in its latest Portfolio Manager's Toolkit lays out the following "worst-case survival guide to uncertainty, taxes and trade" to help investors navigate once volatility comes back with a bang.

JPMorgan: "Comey’s Dismissal Saps Trump’s Political Capital At The Worst Possible Time"

Trump managed to go a few days w/o controversy (a relatively long stretch for the current White House) but the Comey firing is by far the biggest headline of the night. As far as the market is concerned, Comey’s dismissal saps Trump’s political capital and weakens relations w/Congress at the time when he is trying to move an ambitious pro-growth agenda through the Senate and House.

"Zumutungen!" Buyer's Remorse In France, Impossible Situation For Germany

Now that the cheering over the French election has died down, reality will strike France and Germany like a cold bucket of water thrown in one’s face on a Winter’s day. Germany was guaranteed to not like the result no matter who won; and in France, buyer’s remorse has set in. Unions are already protesting against Emmanuel Macron’s policies.