France

Putin, Trump, And "My Guy" Macron

"France's president is lauded in the media for talking tough with his Russian counterpart, but behind the hype may be signs of a new alignment..."

The ECB Has Almost Run Out Of German Bonds To Buy

Last month the average maturity of all German bond purchases by the ECB bond plunged below 4 for the first time ever, or just 3.98 years, the lowest on record.  This confirms that the ECB is actively reducing the amount of German Bunds it is buying and suggests that the ECB has almost run out of eligible German bonds to buy.

Gold Surges, Global Stocks Slide As "Super Thursday" Risks Loom

With traders realizing that the "Thursday Turmoil Trifecta" looms, world stocks dropped and safe-haven assets rose as investors focused on the growing tension in the Middle East, while caution spread across markets in a week full of risk events including James Comey’s congressional testimony to the ECB’s policy meeting and Britain’s increasingly uncertain election, all in the span of 24 hours. As a result, European and Asian stocks as well as S&P futures all fell, while gold, yen and Treasuries gained.

Key Events In The Coming Week: Thursday Turmoil Trifecta

This week will be all about rhe "Thursday Turmoil Trifecta" when the UK general election will be highlight of a busy week together with the ECB monetary policy meeting, while rounding off events in the US will be James Comey's first public testimony since he was fired by Donald Trump in which he is expected to testify that Trump pressured him to end the Russian probe into Mike Flynn.

Qatar Crashes In Escalating Gulf Crisis; Oil Fails To Rebound As Global Stocks Dip

S&P futures point to a slightly lower open ahead of today's US non-mfg ISM and Service PMI data. European shares fall, while Asian shares are little changed. Several European countries are closed for Whit Monday leading to subdued trading. Following the latest unexpected Gulf Crisis overnight, in which Gulf nations cut all diplomatic relations with Qatar amid stunning allegations of funding terrorism, oil spiked but has since pared almost all gains.

Macron Invites All Americans Disappointed With Trump To Flee To France

"To all scientists, engineers responsible citizens who were disappointed by the decision by the President of the United States, I want to say that they will find in France a second homeland. I call on them: Come and work here with us. To work together on concrete solutions, for our climate, our environment."

"The Western Status Quo Political System Is Collapsing Into 'Something Else'"

"...as the Western status quo political system collapses into Something Else, how is it possible that our capital markets are not similarly gripped by volatility and stress? What is responsible for breaking the transmission mechanism from political risk to market risk? I’ve got a macro answer and I’ve got a micro answer..."