Newspaper

Brazilian Risk Assets Slammed After New President Suffers First Corruption Scandal Crisis

Today we got confirmation how much of an uphill climb the Temer administration will have when Brazil's Folha de S. Paulo newspaper reported that it has had access to recordings of conversations that took place in March between then-senator Romero Juca and current minister, and a former executive linked to state-run oil company Petrobras. In the conversations, the minister allegedly says a change in federal government leadership would lead to an agreement to prevent the wide corruption probe dubbed Carwash from proceeding.

Futures Fade Early Bounce, Slide In Illiquid Tape As Yen Rises, Oil Drops

Government bonds rose and the yen strengthened as investors weighed the timing of the Federal Reserve’s next increase in interest rates and the outlook for inflation. Commodities slid, led by metals, while stocks in Europe declined. Treasury 30-year yields fell for a third day. The yen rose from near this month’s low. Futures on the S&P 500 also declined after initially jumping higher in thinly traded, illiquid tape.

For First Time Since World War II, "Right-Wing, Anti-Immigrant, Euroskeptic" Set To Become President Of Austria

One month ago, pro-European voices in Austria, and all of Europe, were suddenly muted when in the first round of the Austrian presidential election, Norbert Hofer head of Austria Freedom Party (FPO), described as a "Euroskeptic, right-wing, anti-immigrant party" crushed his opposition buoyed by a migration crisis that has heightened fears about employment and security across the continent, and gathered a whopping 35% of the vote leaving the other five legacy candidates far behind. Today, Austria holds the decisive, run-off round between Norbert Hofer and former Greens leader Alexander van der Bellen, which according to preliminary opinions polls was set to be a close vote... although probably not that close.

The Shift To A Cashless Society Is Snowballing

Love it or hate it, cash is playing an increasingly less important role in society. In some ways this is great news for consumers. The rise of mobile and electronic payments means faster, convenient, and more efficient purchases in most instances. However, there is also a darker side in the shift to a cashless society. Governments and central banks have a different rationale behind the elimination of cash transactions, and as a result, the so-called “war on cash” is on.

EU-Turkey Migrant Deal Unravels Turning Greece Into Massive Refugee Camp

The EU-Turkey migrant deal, designed to halt the flow of migrants from Turkey to Greece, is falling apart just two months after it was reached. European officials are now looking for a back-up plan - a confidential plan to house all migrants arriving from Turkey on Greek islands in the Aegean Sea. Migrants would remain on the islands permanently while their asylum applications are being processed. The plan, which Bild reports is being discussed at the highest echelons of European power, would effectively turn parts of Greece into massive refugee camps for many years to come.

Cable Spikes To 3-Week Highs On Latest BREXIT Poll

With still more than a month to go until the June 23 referendum on whether to keep Britain inside the European Union, the pound is strengthening amid evidence the "leave" campaign is losing ground in the Brexit debate. Cable has spiked this morning to near 3-week highs after an opinion poll by the Evening Standard newspaper and Ipsos Mori put the “remain” camp’s lead at 18 percentage points. What is most fascinating is that while phone polls show BREMAIN now in the lead, online polls signal BREXIT still leads - perhaps indicating age-related biases.

Islamists Infiltrate The Swedish Government

April was the month when the Islamist scandals in the Green Party (Miljöpartiet) came one after the other. The Green Party sits in Sweden's government, along with its coalition partner, the Social Democrats (Socialdemokraterna). They have made themselves known as a party favoring open borders, and with a passionate love for multiculturalism. These infatuations are precisely why the party has been a perfect candidate for Islamist infiltration. Within the Green Party, even to ask the question whether Muslims view Islam as a political force has been considered rude and "Islamophobic."

The Rand Is Crashing As South African FinMin Arrest Looms

The last 2 days have seen South African Rand plunge 5% relative to the USDollar, back to 2 month lows, after reports that police are set to arrest Finance Minister Pravin Gordhan over alleged irregularities at the nation’s revenue service.

Are Newspapers Captured By Banks?

With Donald Trump going after Jeff Bezos' "capture" of The Washington Post this week, along with Facebook's alleged liberalization of the mainstream's news feeds, the topic of press independence is once again back out of conspiracy theory back-rooms and near top of mind for many average indoctrinated joes. Almost thirty years ago, Edward Herman and Noam Chomsky claimed that media are “effective and powerful ideological institutions that carry out a system-supportive propaganda function," but as ProMarket's Luigi Zingales exposes, for Italy, there is some circumstantial evidence that Italian newspapers are captured by banks.

Meet Donald Trump's Chinese Fan Club

"I think Donald Trump has the guts to say things that normal people in the rest of society fear to say," said China's Gu Yu. He says he is 100% supportive of Trump, and even though he can't cast a ballot, he says the Americans that can should trust Trump. Meanwhile, despite her vocal support for China, Hillary Clinton just can't seem to catch a break: ""If she can't manage her husband, how can she manage America?" And Sima Nan, a television pundit sometimes described as China's Bill O'Reilly, openly calls her a "crazy old woman."

US Futures, European Stocks Drop As USDJPY Tumbles

One day after the biggest jump in stocks in two months on what has still been an undetermined catalyst, overnight global equities did a U-turn with European stocks falling toward a one-month low and U.S. stock index futures declining, as crude oil dropped toward $44 a barrel. A driver the move lower was a sharp reversal in the USDJPY which dropped 100 pips from yesterday's highs which took places just as Goldman predicted the USDJPY has finally bottomed, facilitated by a weaker dollar (also following a Goldman report yesterday forecasting the USD was about to surge).

Top Hillary Clinton Aide Walks Out In Middle Of FBI Interview

With the FBI's noose closing around Hillary and her closest State Department cohorts as the Federal agency nears the end of its criminal probe, some are getting increasingly concerned about what they will and will not say on the record. One such person is Hillary's former State Department Chief of Staff, Cheryl Mills, who according to the WaPo walked out of an interview with federal investigators when an FBI official began to discuss a topic considered off-limits.