Mexico

Border Wall Bids Emerge; Include Everything From Tourist Attractions To Nuclear Waste Storage

Yesterday was the deadline for companies to submit bids for Trump's "physically imposing" yet "aesthetically pleasing" border wall between the U.S. and Mexico.  And while the U.S. government has said they won't disclose bids, rather just the names of companies actually awarded contracts on June 1st, some of the companies decided to disclose their plans themselves.  Here are a couple of our faves...

Are Mexico’s Oil Reserves Almost Depleted?

Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that state company Petroleos Mexicanos (Pemex) reported for yet another year in 2016, is painting a rather bleak picture of Mexico’s reserves.

Frontrunning: April 4

  • Europe stocks rise but bond yield falls show investor caution (Reuters)
  • Danger of Sell-Off in U.S. Stocks Grows as Auto Sales Disappoint (BBG)
  • Battle Over Gorsuch Confirmation Is Set to Hit Senate Floor (WSJ)
  • U.S. business seeks action, not trade war, in Xi-Trump summit (Reuters)
  • Uncovering the Secret History of Wall Street’s Largest Oil Trade (BBG)

Trump & The Candlemakers' Petition

In 1845, the French government levied protective tariffs on scores of items, from sewing needles to locomotives. The intent was to protect French industries from companies outside France that could produce the goods more cheaply. The reaction from Mister Bastiat was to publish “The Candlemakers’ Petition,” a satirical proposal to the government that was intended to help them see the nonsense of protective tariffs.

Jared Kushner Flies To Iraq With Joint Chiefs For ISIS Strategy Briefing

President Trump’s senior adviser and son-in-law Jared Kushner reportedly arrived in Baghdad this morning, in a surprise visit with Chairman of the Joint Chiefs General Joseph Dunford, to meet U.S. and Iraqi officials and to receive military briefings on the fight against the Islamic State.

Why China Is About To Bring The Global Reflation Rally To A Halt

It was China, whose gargantuan credit expansion, monetary easing and "Shanghai Accord" in early 2016 unleashed the global reflationary wave which central banks are currently mistaking for "growth." It is only appropriate that China will be the catalyst that ends it.

Here’s Why Italy’s Banking Crisis Has Gone Off The Radar

For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, things are eerily quiet in Italy these days. It’s almost as if the more serious the crisis gets, the less we hear about it — otherwise, investors and voters might get spooked. And elections are coming up.

Frontrunning: March 31

  • GOP disarray deepens (Reuters)
  • Zuma's Night of Long Knives Risks ANC Split, Credit Rating (BBG)
  • China downplays tensions with U.S. ahead of summit (Reuters)
  • Wall Street’s New Favorite Way to Swap Secrets Is Against the Rules (BBG)
  • EU offers Brexit trade talks, sets tough transition terms (Reuters)