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Germany Slams Trump Criticism: Urges US To "Build Better Cars", Accuses Washington Of Causing Refugee Crisis

Responding to Trump's Sunday criticism, Germany's economy minister Sigmar Gabriel said "there is a link between America’s flawed interventionist policy, especially the Iraq war, and the refugee crisis, that’s why my advice would be that we shouldn’t tell each other what we have done right or wrong" and also urged the US to "build better cars" if it wants Germans to buy them.

Theresa May To Call For "Clean And Hard Brexit" As UK Warns Of "Market Correction"

According to the Sunday Times, on Tuesday U.K. Prime Minister Theresa May will call for a “clean and hard Brexit’’ saying she’s willing to quit the European Union’s single market to regain control of Britain’s borders and laws. The prime minister’s staff have warned that her words would likely cause a “market correction” that could lead to a fresh fall in the pound.

Art Cashin On The History Of Friday 13th In The Markets

In his daily note, everyone's favorite veteran floor trader, UBS' Art Cashin, reprises the history of Friday the 13th in the markets, and finds that it is far less scarier than some may believe, and in fact has a mild upward bias as it is up 55% to 60% of the time. There are, however, accidents, and on Friday, October 13, 1989, the attempted LBO of UAL collapsed and the Dow plunged 190 points, equal to 860 points today.

FBI Arrests Volkswagen Exec Charged With Conspiracy To Defraud The US

While various other carmakers, such as GM, Ford, Fiat and Toyota, have had their share of headaches in recent weeks worried if and when Trump will tweet about them next, the epicenter of all car scandals over the past two years remains Volkswagen, and sadly for the German carmaker things continue to get worse: according to the NYT, the FBI haed arrested a Volkswagen executive on charges of conspiracy to defraud the United States. 

Yuan Is Crashing (Again)

The volatility in the Chinese currency has gone from the sublime to the ridiculous. After exploding 21 handles stronger in the biggest PBOC-engineered short-squeeze in history - erasing the entire post-election sell-off - offshore Yuan is now collapsing once again, down 350 pips tonight (and over 10 big figures from Thursday's highs). While interbank rates have calmed down, the rush to exit the currency has not...