Everything went from bad to worse once Europe opened, and things started going "bump in the morning" across the European banking sector, where not only has it been more of the same with CDS spreads for major banks - most notably Deutsche Bank - continuing their surge wider, but also EM spreads to Bunds all following, with the Portugal-Germany Yield spread blowing out above 300 bps for the first time since 2014, and other peripheral nations following.
"Across the whole country, a pogrom mood prevails that is gathering an explosive intensity."
A day after German authorities arrested three men in connection with a planned terrorist attack on Berlin, Germany's intelligence chief warns that ISIS fighters are hiding among the 1.1 million refugees the country took in 2015. "We have repeatedly seen that terrorists have slipped in camouflaged or disguised as refugees," he says. “This is a fact that the security agencies are facing.”
"German and Arabic should be mandatory for all students through high school. We would appreciate it, to be a country of immigration and a multilingual society."
If the German authorities reject an "asylum-seeker," a local German newspaper reports officials will change his nationality and seek deportation..."He looked like someone from the Nigerian state of Ogun, whereupon we changed his birth." African embassies are paid for their help, receiving money if they allow deportation, which for Germany, is considerably cheaper than the months-long tolerance of refugees.
The conservative movement is starting to look a lot like Syria.
“We are issuing an explicit and clear call to the Russian Federation to act responsibly in the matter of not violating the Turkish airspace, and therefore NATO airspace"...
In the latest news out of the 1MDB saga, "Switzerland's chief prosecutor said on Friday a criminal investigation into state fund 1Malaysia Development Berhad (1MDB) had revealed that about $4 billion appeared to have been misappropriated from Malaysian state companies."
"The amount of the allegedly misappropriated funds amounted to approximately $ 4 billion, whose purpose is the subject of further study"...
In Historic First, Massachusetts Attorney General Warns Gilead To Lower Cost Of Hep C Drug Or Face LawsuitSubmitted by Tyler Durden on 01/27/2016 09:31 -0500
In a Jan. 22 letter to Gilead chief executive John C. Martin, made public Wednesday, the attorney general wrote that the high price of the company’s Sovaldi drug, which cost $84,000 for a full course of treatment, and its Harvoni drug regimen, which cost $94,500, “may constitute an unfair trade practice in violation of Massachusetts law.” The newspaper adds that Healey’s letter said her office was looking into bringing an unfair commercial conduct complaint against the company. It is rare, if not unprecedented, for a state attorney general to confront a drug maker on the cost of a therapy.
"I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands, one Nation under Allah...."
"There is hope of more stimulus in March and potential for even more stimulus in Japan and China, so if we get concrete positive economic news the rebound could last into next week,” said John Plassard, senior equity- sales trader at Mirabaud Securities. “I told my clients to fasten their seatbelts and wait for better news, and this is finally happening."... "The turnaround in sentiment came amid signs central banks may be prepared to act after $7.8 trillion was erased from the value of global equities this year on China’s slowdown and oil’s crash."
- Oil slump rocks markets again in equity rout (Reuters)
- Global Stocks on Brink of Bear Market as Oil Slides; Ruble Drops (BBG)
- Global Stocks Slide on Oil Rout (WSJ)
- Emerging Markets Roiled as Stock Selloff Surpasses Asian Crisis (BBG)
- Rising Debt in Emerging Markets Poses Global Threat (WSJ)
- China shares slip as oil slides, outweighing stimulus hopes (Reuters)
News broke last Saturday evening that the US is to conduct a "major investigation" into how the Kremlin is "infiltrating political parties in Europe" amid "mounting concerns" of a new Cold War. The exclusive, which was published by the UK’s Telegraph newspaper, revealed that James Clapper, the US Director of National Intelligence has been instructed by Congress to begin the major review into Russia’s "clandestine" funding of EU parties over the last decade. Hypocritical? Oh, let us count the ways...
U.S. + EU will begin lifting nuclear-related sanctions, expanding the horizon of opportunity for the Iranian people.
— John Kerry (@JohnKerry) January 16, 2016
"Why has public opinion changed so much? How did our party misread public opinion? We failed. The Nationalist Party lost the elections. We didn't work hard enough."