Norway

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Game Theory Pioneer John Nash, Wife, Killed In Taxi Crash





The world lost one of its truly beautiful minds this Saturday, when a taxi carrying John Nash, 86, and his wife of nearly 60 years, Alicia, crashed on the New Jersey Turnpike. The two were killed on the spot when the driver of the Ford Crown Victoria lost control as he tried to pass a Chrysler in the center lane, crashing into a guard rail according to NJ.com.John Forbes Nash, Jr, was best known recently for the 2001 movie starting Russell Crowe"A Beautiful Mind" which depicted his struggles with schizophrenia. His biggest accomplishment was his groundbreaking and pioneering work on game theory. His thesis contained the definition and properties of what is now known as the "Nash equilibrium" - a crucial concept in non-cooperative games, it won Nash the Nobel Memorial Prize in Economic Sciences in 1994.
 
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"New Silk Road" Could Change Global Economics Forever, Part 1





China is building the world’s greatest economic development and construction project ever undertaken: The New Silk Road. The project aims at no less than a revolutionary change in the economic map of the world. It is also seen by many as the first shot in a battle between east and west for dominance in Eurasia. For the world at large, its decisions about the Road are nothing less than momentous. The massive project holds the potential for a new renaissance in commerce, industry, discovery, thought, invention, and culture that could well rival the original Silk Road. It is also becoming clearer by the day that geopolitical conflicts over the project could lead to a new cold war between East and West for dominance in Eurasia.

 
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Key Events In The Coming Week Topped With Yellen's Friday Speech





As the economic calendar slowly picks up following the NFP lull, we are looking at a busy week both globally and in the US, where an army of Fed speakers culminates with a Yellen speech on Friday at 1pm in Rhode Island.

 
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This May Just Be The Start Of The Oil Price War Says IEA





Saudi Oil Minister Ali al-Naimi may be one of the most powerful individuals in the global oil industry. But for all his power, is he the most ingenious? That question arises from the release of two reports on the current state of the oil industry that look at whether or not OPEC’s strategy of forcing US shale to cut back is succeeding.

 
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Despite Surging Euro S&P Futures Jump On Stop Hunt, Lack Of Daily Bund Rout





It has gotten to where just the lack of a rout in Bunds or any other government issue is enough to activate the "bullish" outside stop hunting algo, which is probably why ES has jumped overnight in another illiquid, newsless session. Curiously, Bunds shave not sold off even though the EUR has jumped sharply by almost 100 pips overnight to a 3 month high also on no news (with some amusing acrobatics by the USDJPY alongside) traditionally a bearish indicator for the Dax and thus the S&P. Perhaps the algos are just late, or maybe the "weak dollar is good for stocks" thesis has been activated, but in any event this morning's ramp higher in the ES will continue until all upside stops are hunted down by Virtu and crushed mercilessly.

 
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Key Events In The Coming Week





Today’s Eurogroup meeting will be key in determining where Greece and its creditors negotiations currently stand. Over in the US today, it’s the usual post payrolls lull with just the labor market conditions data expected.

 
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Which Countries Are The Most Paranoid?





They say it's not paranoia if they are really out to get you...

 
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Key Events In The Coming Week





Quickly looking at the potential market moving events this week, US payrolls on Friday will be the clear focus. In terms of expectations, our US colleagues are expecting a +225k print which matches the current Bloomberg consensus, while they expect the unemployment rate to drop one-tenth to 5.4%. Elsewhere, Thursday’s UK Election will be closely followed while Greece will once again be front and center.

 
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America Ranks Below Israel In World Happiness Index





USA USA USA #15? Despite aerial bombardment, growing tensions with every neighbor, and the almost ubiquitous daily car-bombs, Israelis are "happier" than Americans according to Bloomberg's world happiness index. Happiness, it appears, is most abundant a long way from the equator with Switzerland, Iceland, Denmark, Norway, and Canada all topping the list; whereas the unhappiest nations are all in Saharan or sub-Saharan Africa (apart from war-torn Syria and Afghanistan).

 
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Norway's Giant Sovereign Wealth Fund Goes Full Tinfoil Fringe Blog





You know the world has gone mad when one of the world's largest pension funds, mired in its need for the maintenance of the status quo, begins to sound like 'digital dickweeds in their parents' basements'. Norway's massive $890 billion wealth fund has stepped out of the shadows to slam global central bankers for affecting "pricing in today’s market to such an extent that monetary policy itself has been a risk you have to watch;" and market structure, criticizing the proliferation of dark pools, "there’s a rent extraction from all these intermediaries... we’re in favor of trying to reduce the number of block-crossing venues," Schanke said, "one would probably be perfect."

 
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Yes, Colombia!





Some economic facts that you did not know...

 
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Did Germany Secretly Fund Israel's Nuclear Weapons?





The conservative German daily Die Welt, well-known for its unflinching support for Israel, recently published an article stating “with near certainty” that the Federal Republic of Germany, or West Germany, helped finance Israel’s nuclear program in the 1960s. The Welt report comes after former Israeli President Shimon Peres (who was the head of Israel’s nuclear-weapons program at the time of its inception in the 1950s) denied that funding for Israel’s nukes came from Germany earlier this month.

 
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Key Global Events In The Coming Week





While today's macro calendar is empty with no central bank speakers or economic news (just the monthly budget (deficit) statement this afternoon), it’s a fairly busy calendar for us to look forward to this week as earnings season kicks up a gear in the US as mentioned while Greece headlines and the G20 finance ministers meeting on Thursday mark the non-data related highlights.

 
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NATO Conducts First Test Of "Russia Rapid Response Force"





"NATO completed the first military drills for its new rapid reaction force. From Tuesday through Thursday, more than 1,500 troops took part in exercise 'Noble Jump,' designed to test whether troops assigned to NATO’s new Spearhead Force, or Very High Joint Readiness Task Force, could be ready to deploy 48 hours after receiving an order-to-move." In other words: NATO could deploy troops to counter Russian "aggression" within 2 days.

 
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