With All Eyes On Tonight's BOJ Announcement, A "Minor" Snag Emerges

With all eyes on the BOJ's decision in several hours, an announcement which is expected to contain some component of government deficit funding attached to it, or helicopter-lite, a "minor" snag has emerged in what Japan has affectionately titled the "emergency, peace of mind realization, overall spending measures" fiscal package, namely that only about a quarter of the total JPY 28 trillion in new stimulus is in the form of actual spending.

Erdogan Closes 130 Media Organizations, Arrests CEO Of Oil Company

As Europe's "democratic institutions" continue to stick their collective heads in the sand, pretending to ignore Erdogan's unprecedented crackdown against every political opponent as well as tens of thousands of people who have nothing to do with politics, Turkey’s post-putsch purge of dissent reached deeper into the economy as authorities shuttered 130 media outlets, detained the head of a major oil company and banned the chief strategist of a leading brokerage.

Trump And The End Of NATO?

Trump does not seem to understand how deeply important NATO or US militarism elsewhere around the globe are to American hegemony under its corporate capitalist system. If and when he does actually try to implement his policy, he will encounter formidable forces that he probably isn’t aware of yet. The last American president who tried to rein in the corporate power of US militarism was John F Kennedy. He was assassinated on November 22, 1963, in broad daylight

Global Stocks, Futures Continue Rise On Apple, Japan Stimulus; Yellen On Deck

The markets were following a rollercoaster night for the Japanese Yen, when after several media headlines Abe was said to have announced a stimulus package that would be more than JPY28 trillion, sending Japanese stocks higher 1.7% while the USDJPY spiked but well off overnight highs, pushing risk assets higher. Europe and US futs were also in the green on optimism from AAPL's earnings, but all eyes will be on today's FOMC announcement.

USDJPY Plunges On Japan Stimulus Concerns; US Futures Flat With As Fed Begins Meeting

In a turbulent session for FX, the Yen soared as much as 1.4%, the most in three weeks, after Finance Minister Aso says the government will "leave actual policy measures to BOJ", sending the Nikkei lower by 1.4%. European stocks and U.S. equity index futures are little changed despite the slide in the key carry pair as the Fed starts its two day meeting.

Furious Sanders Supporters, Angry Media, Blistering Chaos Marks First Day Of Democratic Convention

Democrats were delighted to watch as last week's scandal-plagued Republican National Convention lurched from one fiasco to another until.... the Democratic National Convention appeared to crash and burn in a disoragnized launch among angry supporters, blistering temperatures, sheer chaos, and a fractured organization that has left Republicans stunned in amazement at a Democratic party seemingly torn in two.

Brazil’s Top Newspaper Caught Manipulating Poll Data In Favor Of New President

After the story broke, the evidence began to mount that Folha de Sao Paulo had deliberately omitted this information from its published version. When the press questioned the newspaper for its decision, Folha’s executive director Sérgio Dávila stated “the prerogative of the paper [is] to chose what it believes is ‘most journalistically relevant’ when it decides to publish a poll.”

Yen Tumbles On Spurious Nikkei Headline, Stocks Shrug

When you asbolutely, positively need to get stocks higher, unleash a spurious Nikkei headline (at 220am local time)... "Japan to Double Planned Spending in Stimulus Package: Nikkei" and sure enough USDJPY spikes back above 106.00... but S&P futures algos are ignoring it for now...

US Futures Unchanged As Europe Stocks Rise; Strong Dollar Pressures Oil

There has been little notable market moves overnight, with the record rally in the S&P500 set to continue and European stocks climbing as German IFO business confidence proved more resilient than economists predicted in the month after Britain voted to leave the European Union, falling less than expected from 108.7 to 108.3, above the 107.5 consensus, with expectations printing at 102.2 above the 101.2 expected. Bonds fell with gold as the dollar gained before central bank meetings in the U.S. and Japan this week.

Munich Shooter Planned Attack For A Year Germany Alleges; May Use Military During Next "Extreme Situation"

In addition to pivoting away from a story of "radical Islam" striking again, despite objections of a narrative that just does not fit,  Germany is now doubling down on a story of a sick, mentally-troubled individual, who played a lot of first-person shooter video games, who had been bullied by his classmates, and who decided to take out his anger on fellow children in a mass shooting which ended with his suicide.  Most importantly, Germany has now opened the doors to summoning the Bundeswehr  - the military - the next time an "extreme situation" such as this one takes place

Mystery Over Munich Shooter's Motive: David Ali Sonboly Had "No Connection To ISIS", Obssessed With Mass Shootings

What was initially said to be a coordinated attack killing 9 and injuring 16, involving up to three gunmen, has since been attributed to a lone, 18-year-old German-born male student with both German and Iranian citizenship, identified moments ago as David Ali Sonboly. As authorities try to piece together the motive behind the latest mass killing the emerging picture is that of a mentally disturbed young man with an obssession for killing sprees, and who had undergone psychiatric treatment.