Futures Fail To Rebound As Deutsche Bank Tries To Comfort Markets That It Is "Fine"

After yesterday's "Hillary rally" in the US, the overnight's session has seen more risk-on sentiment as European stocks advanced, ignoring weakness in Asia as investors followed every twist of shares of beleaguered lender Deutsche Bank, whose CEO last night assured Bill readers that the bank is not seeking a bailout, which however was contradicted by a Zeit article this morning reporting that Germany may seek as much as s 25% "bailout" stake in a worst case scenario.

Jihadists Target Spain

"Spain is the land of our forefathers and we are going to take it back with the power of Allah."

Why There Is Trump

It’s over! The entire model our societies have been based on for at least as long as we ourselves have lived, is over! That’s why there’s Trump.

Frontrunning: September 27

  • Deutsche Bank Returns to Haunt Merkel in an Election Year (BBG)
  • Saudis, Iran dash hopes for OPEC oil deal in Algeria (Reuters); Iran Doesn’t Want Oil Deal in Algiers, Won’t Freeze Output (BBG)
  • Debate of century lives up to its billing (The Hill)
  • Candidates Spar in Debate, Offer Vastly Different Visions for Leading the U.S. (WSJ)
  • Clinton gains in online betting markets after U.S. presidential debate (Reuters)
  • Presidential Debate Illuminates Voters’ Stark Choice (WSJ)

"America Is On Our Side": Al-Nusra Commander Tells German Press US Is Arming Jihadists

US weapons are being delivered to Jabhat Al-Nusra by governments that Washington supports, a militant commander told the German media, adding that American instructors were in Syria to teach how to use the new equipment.
"Israel is now giving us support because Israel is at war with Syria and with Hezbollah... The Americans are on our side."

Key Events In The Coming Extremely Busy Week

The week ahead is striking in the sheer number of central bank speakers, but with the Fed on hold until December and the BoJ’s new framework now revealed, focus turns squarely from central banks to US politics. The first US presidential debate at the start of the week will be a key focus.

US Slams Russian "Barbarism" In Syria; Moscow Responds Peace "Almost Impossible Now"

Just three weeks after yet another "landmark" Syria peace deal was signed, the agreement is not only in tatters but the war drums are beating louder than ever before after the US slammed Russia's action in Syria as "barbarism," not counter-terrorism, while Moscow's U.N. envoy said ending the war "is almost an impossible task now" as Syrian government forces, backed by Moscow, bombed the city of Aleppo.

Frontrunning: September 26

  • Stocks Drop on Bank, Commodity Company Woes; Turkish Lira Falls (BBG)
  • Clinton and Trump to square off in highly anticipated debate showdown (Reuters)
  • Profit Slump for S&P 500 Heads for a Sixth Straight Quarter  (WSJ)
  • Oil rises as OPEC meets, volatility hits post-Doha high (Reuters)
  • Deutsche Bank Slumps to Fresh Record Low on Capital Concerns (BBG)
  • Police Videos Fail to Quiet Protests in Charlotte (WSJ)

Global Stocks Tumble, US Futures Slide On Deutsche Bank Fears, Central Bank And Commodity Concerns

While today's biggest event for both markets and politics will be tonight's highly anticipated first presidential debate between Trump and Hillary, markets are waking up to some early turmoil in both Asia and Europe, with declines in banks and energy producers dragging down stock-markets around the world, pushing investors to once again seek the safety of government bonds and the yen.

How Much Longer Will Investors Trust The Central Banks?

It is time for central banks to start acknowledging their limitations, and doing so by acting and not talking about their future intentions. It is also time for investors to stop believing that central banks had the answers to begin with.

US-EU Trade Talks "De Facto Dead"

...German Economy Minister Sigmar Gabriel declared that [talks] were “de facto dead”. The French minister told the Handeslblatt newspaper that the United States had demanded too much and not compromised enough. "A crazy machine is moving here, the negotiations are a failure, nobody believes that they will come to a successful conclusion..."

France's "Great Wall Of Calais"

Building work has begun on a wall in the northern French city of Calais, a major transport hub on the edge of the English Channel, to prevent migrants from stowing away on cars, trucks, ferries and trains bound for Britain. Dubbed "The Great Wall of Calais," the concrete barrier — one kilometer (half a mile) long and four meters (13 feet) high on both sides of the two-lane highway approaching the harbor — will pass within a few hundred meters of a sprawling shanty town known as "The Jungle."