France

...And Now For The Bad News

This is the most important thing to understand about US federal government spending: the built-in costs are so extreme that they can’t possibly make ends meet. And the problem becomes worse each year...

ECB Warns Of "Excessive Exuberance" In House Prices; Sees Financial Instability Due To Higher Yields

In an unexpected two-part warning from the ECB, the European Central Bank warned of “excessive exuberance” in some European housing markets, driven by offshore buyers, that could spread to other areas in a “ripple effect.” Separately, the ECB also said "debt-sustainability concerns" have risen in the past six months amid a potential increase in yields and political uncertainty in some countries.

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Islamic State Claims Responsibility For Manchester Bombing

IS Statement:  "With Allah's grace and support, a soldier of the Khilafah managed to place explosive devices in the midst of the gatherings of the Crusaders in the British city of Manchester, in revenge for Allah's religion, in an endeavor to terrorize the mushrikin, and in response to their transgressions against the land of the Muslims.  And what comes next will be more severe on the worshipers of the Cross and their allies, by Allah's permission.  And all praises due to Allah, Lord of the creation."

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range.

Shaping The Future: Moscow And Beijing's Multipolar World Order

China and Russia have different tasks in ushering in their world order, namely, by preserving global stability through military and economic means. Their overall relationship of mutual cooperation goes beyond the region of Eurasia and focuses on the whole process of a sustainable globalization as well as on how to create an environment where everyone can prosper in a viable and sustainable way. Doing this entails a departure from the current belligerent and chaotic unipolar world order.

Russian Hackers Infected 1 Million Bank Customer Smartphones

Russian hacker used malware planted on more than a million Android smartphones to steal over 50 million roubles from domestic bank customers and were planning to target European lenders before their arrest, Reuters reports, noting that the entire group has been arrested.

Global Markets Rebound To End Volatile Week, As Trump Rout Fades

Two days after the biggest rout in US stocks in 8 months, and one day after Brazil's stock market was halted due to a circuit breaker, wiping out out 8.8% of its market cap, traders are eager to put it all in the rearview mirror and in a quiet session on the last day of the week, S&P futures are set for a green open, up 0.2%, in line with Asian and European markets, all looking to close the week on a positive note.