Nuclear Power

Frontrunning: September 16

  • Deutsche Bank to fight $14 billion demand from U.S. authorities (Reuters)
  • Exxon’s Accounting Practices Are Investigated (WSJ)
  • European leaders seek elusive 'road map' after Brexit shock (Reuters)
  • Johnson Said to Tell Italy Exit Talks Likely to Start Early 2017 (BBG)
  • Brexit Bulletin: Merkel Sings the Bratislava Blues (BBG)

US Futures; Euro Stocks Slide On Deutsche Bank Liquidity Fears; Bonds Bid

Following yesterday's paradoxical US stock surge catalyzed by a bevy of bad macroeonomic news, the overnight session has seen some good old "risk off" mood which hit European shares as a result of the previously reported $14 billion DOJ claim against Deutsche Bank, which sent Europe's biggest bank tumbling, dragging the banking sector lower, while a continued drop in the price of oil pushed energy companies lower.

US Futures, European Stocks Rebound, Bonds Fall Ahead Of US Data Deluge

The overnight session started with more weakness out of Asia, where chatter that the BOJ may end up doing nothing despite all the trial balloons (as we hinted yesterday), sent the USDJPY sliding, pushing the Nikkei lower, leading to a 7th consecutive decline in the Topix, the longest such stretch since 2014 even though the BOJ is now actively buying a record amount of ETFs. However, the modest dip in S&P futures and European stocks proved too much for BTFD algos, and risk promptly rebounded.

Frontrunning: September 12

  • Selloff gathers pace as stimulus pullback fears deepen (Reuters)
  • Clinton's bout of pneumonia raises worries for Democrats (Reuters)
  • Google's Self-Driving Car Project Is Losing Out to Rivals (BBG)
  • OPEC sees more oil supply from rivals, implying larger 2017 surplus (Reuters)
  • Oil falls as U.S. drills more (Reuters)

August Payrolls Loom: Futures Flat, Dollar Rises, Treasuries Slip

The much anticipated payrolls day, expected to provide at least some more clarity on future Fed policy, has arrived and heading into today's report both price action and newsflow has been muted. U.S. equity index futures were fractionally higher, as European stocks rise 0.6% while Asia was flat. Gold fell as the dollar rose, while comments by Vladimir Putin which endorsed an OPEC oil production freeze while granting Iran an exemption, have pushed oil higher.

Frontrunning: August 30

  • EU demands Apple pay Ireland up to 13 billion euros in tax (Reuters)
  • Dollar Advances as Treasuries Drop on Rate Outlook; Stocks Rise (BBG)
  • Chinese embassy in Kyrgyzstan hit by suspected suicide car bomb (Reuters)
  • France, joining German Economy Minister, urges halt to trade talks with U.S. (Reuters)
  • Euro zone monthly economic sentiment falls more than expected (Reuters)

"There Will Be Blood" - The Whole Game Is About Containing Russia-China

BRICS is in a coma. What’s surviving is RC: the Russia/China strategic partnership. Yet even the partnership seems to be in trouble – with Russia still attacked by myriad metastases of Hybrid War. The – Exceptionalist – Hegemon remains powerful, and the opposition is dazed and confused. Or is it?

Frontrunning: August 29

  • Central Bankers Spurn Call for Radical Approach at Jackson Hole (BBG)
  • Turkey deepens Syria offensive, at odds with U.S. (Reuters)
  • Another red line: U.S. says clashes between Turkish forces and opposition in Syria 'unacceptable' (Reuters)
  • Iceland Raises Alarm After Largest Volcano Starts to Rumble (BBG)
  • On Syria, Democrats look to deflect the conversation (AP)

A Post Western World? A Disturbing Interview With Prof. Harry Redner - Part 2

The political and economic issues broadly discussed in the media usually revolve around political cycles, terrorism, foreign policy, rising debt levels, sluggish economic performance, academic underachievement, environmental problems, ageing demographics and so forth. In our view, this all ties into a major cycle of history that has been with us for some time, and which has been gaining traction since the 1990s: the end of "Western Civilization" and the transition towards a globalized society.

Frontrunning: August 12

  • Stocks Hit New Highs, and That Could Be Just the Start (WSJ)
  • China Slows as Stimulus Impact Wanes (WSJ)
  • How the China Shock, Deep and Swift, Spurred the Rise of Trump (WSJ)
  • Italian Economy Unexpectedly Stagnates in Threat to Renzi (BBG)
  • Clinton disparages Trump's economic plan, vows to help workers (Reuters)

Who Got Us Into These Endless Wars?

"America’s role in the world is to corral Russia, defend Europe, contain China, isolate Iran, deter North Korea, and battle al-Qaida and ISIS wherever they may be...bleeding our country's military. We are also to convert Syria, Iraq, Libya, Yemen and Afghanistan into pro-Western preferably democratic countries, and embrace “free trade,” accepting the imported merchandise of all mankind, even if that means endless $800 billion trade deficits, bleeding our country’s economy." Otherwise, you are just an isolationist.