Mexico

Global Stocks, Futures Rise On Disappointing Chinese Trade Data, Hopes For More Central Bank Intervention

In an otherwise quiet overnight session, which among other things saw Germany sell 10Y Bunds with a zero coupon and a negative yield (-0.05%) for the first time ever (despite being uncovered with just €4.038BN sold below the €5.00BN target) anyone hoping for a confirmation that China will be able to prop up the world economy once more, was left disappointed when earlier this morning China reported June exports and imports that once again dropped substantially in dollar terms as soft demand at home and abroad continued to weigh on the world’s largest trading nation.

Lessons From The Worst Banking Crisis In History

A very reliable rule of thumb to keep in mind during (and before) a banking crisis: don’t trust anyone in the establishment, especially a politician. It’s good advice these days.. Europe’s banks and its governments are caught like two drunken sailors holding each other up.

 

Lagarde Flip-Flops Again On Brexit, Warns Of "Disastrous" Trump-Style Protectionism

Ahead of the vote on Brexit, IMF head Christine Lagarde warned of a prolonged period of uncertainty. After the vote, Largarde said Brexit provided the EU a better opportunity for reform. Today Largarde is certain of disastrous consequences if another large county turns protectionist. In doing so, she pointed her finger at Donald Trump.

Obama-Era Suicide Rate Is The Highest In 30 Years

Sadly, deaths by suicide have risen dramatically over the past 15 years in the United States, with a sharp uptick coming over the last ten years during the Obama-era. A trend that appears to be correlated to "the declining fortunes of the white working class."

America Should Exit From NATO & The National Security State

In its reporting on Brexit, the New York Times asks an interesting question: “Is the post-1945 order imposed on the world by the United States and its allies unraveling, too?” Hopefully, it will mean the unraveling of two of the most powerful and destructive governmental apparatuses that came out of the postwar era: NATO and the U.S. national-security state.

Queen Urges "Keep Calm" As Scotland Seeks To Block Brexit

"If there is a way to stay in the EU, I am determined to pursue it," proclaimed Scottish First Minister Nicola Sturgeon in an interview with Greece's To Ethnos newspaper, noting that Scottish parliament is looking into legal grounds for a new referendum on secession from UK. This confirms JPMorgan's base case that Scotland will vote for independence and institute a new currency at that point. Shortly after Sturgeon's comments, The Queen made her first post-Brexit speech (ironically in Scottish parliament) urging Britons to "stay calm and focused," pointedly noting "real leadership requires deeper and more dispassionate thinking in turbulent times."

Why Trump Is Routing The 'Free Traders'

"The returns from free trade are in, and the results are rotten....Is what is best for the world now more important than what is best for America?"

ObamaScare Looms - Health Insurers Are Looking For A Taxpayer Bailout

Insurers helped cheerlead the creation of Obamacare, with plenty of encouragement – and pressure – from Democrats and the Obama administration. With the prospect of tens of millions of new customers forced into the market for comprehensive health-insurance plans, whether they needed that coverage or not, underwriters saw potential for a massive windfall of profits. Six years later, those dreams have failed to materialize. Now some insurers want taxpayers to provide them the profits to which they feel entitled - not through superior products and services, but through lawsuits.

Peso Soars To Pre-Brexit Levels As Mexico Raises Rates More Than Expedcted

A day after the most awkward three-way handshake in history between Obama, Trudeau, and Nieto, the latter's central bank just pushed rates higher by a bigger than expected 50bps to 4.25% (exp +25bps). The Peso is surging back (extending its bounce off January lows) retracing all the post-Brexit losses... on what seems like fears of a surge in food inflation.