France

Did Trump Spark The Breakup Of 'The West' Last Week?

"The European half of Trump’s trip should be taken as a fire-bell-in-the-night warning: Shape up, Europe, or you may find yourselves on your own when it comes to the defense of your continent. For we Americans have had about enough."

Quiet Month End Markets Hide "Below The Surface" Fireworks

It has been another quiet session for global equity markets, with S&P futures flat, as are European and Asian stocks, which is perhaps odd, as there was quite a bit of newsflow and, in the case of China, outright fireworks.

Meotti: Europe Fights Back With Candles And Teddy Bears

"It seems that for Europe, Islamic terrorism is not real, but only a momentary disruption of its routine. We fight against global warming, malaria and hunger in Africa, and for a global world of equality. But are we not ready to fight for our civilization? Or have we already given up?"

NATO Recoils From Trump Spending Salvos

Trump’s abrasive attitude to other NATO members last week brings out the real nature of the US relationship. The so-called alliance is really just a spending vehicle for the American economy. In these austere global times, such American bullying will only chafe on the Europeans. This will in turn reinforce calls already underway for an independent EU defense pact, separate from NATO, and possibly led by Germany and France.

In Watershed Event, Europe Unveils Plan To Securitize Sovereign Debt

In a watershed event for the European - and global - bond markets, Brussels is pressing for sovereign debt from across the eurozone to be "bundled into a new financial instrument and sold to investors as part of a proposal to strengthen the single currency area."  Call it securitized sovereign debt.

Greek, Italian Risks Weigh On European, Global Markets; Oil, Gold Slide

Tuesday's session started off on the back foot, with the Euro first sliding on Draghi's dovish comments before Europarliament on Monday coupled with a Bild report late on Monday according to which Greece was prepared to forego its next debt payment if not relief is offered by creditors, pushing European stocks lower as much as -0.6%. However the initial weakness reversed after Greece denied the Bild report. S&P futures are fractionally lower

Russia Expects China To Help Resolve Syrian Crisis, "Restore The Country"

Moscow hopes for China's help in solving the Syrian crisis and restoring the country, Russian Deputy Foreign Minister Igor Morgulov said Monday. "Our cooperation with China on Syria at various international venues is unprecedented. We blocked six attempts to pass anti-Syrian resolutions in the U.N. Security Council" Morgula said at an international conference.

Inside The So-Called 'Resistance'

"Entropy never sleeps. It works remorselessly to transform things of value into useless, dissipated waste and heat...Hence, the intellectual decay of American life in which spin is everything, anything goes, and nothing matters."

Key Events In The Coming Busy Week: US Payrolls; Eurozone Inflation And Fed Speakers

Focus in this holiday-shortened week will turn to US data, especially NFP, Fed speakers and Eurozone inflation. UK PMIs will also draw attention as elections approach. We also get GDP data from Canada, Sweden and Switzerland. On Monday, Euro FX and bond markets will be on Mario Draghi alert on Monday as the ECB president speaks to the European parliament.